Updated Oct 7, 2026
Lakefront Mansion In Excelsior MN Sells For $18.25M With Jeffrey Dewing As The Broker
20670 Linwood Road
$18,250,000
$1,748/SF
Building Size
10,440 SF
Asset Type
Single Family
Closing
Oct 5, 2026
About this deal
AI
A 10,440-square-foot single-family lakefront mansion located at 20670 Linwood Road in Excelsior, Minnesota, has been sold for $18,250,000. The property sits on 2.39 acres and boasts 350 feet of frontage on Lake Minnetonka, which includes a boathouse and a sandy beach. This transaction sets a state record for the most expensive home sale ever in Minnesota.
Summary of transation details:
- Property Type: Single Family
- Transaction Amount: $18,250,000
- Address: 20670 Linwood Road
- Market: Excelsior, MN
- Acres: 2.39
- Square Footage: 10,440
- Price per Square Foot: $1,748
- Broker: Jeffrey Dewing - Coldwell Banker
- Buyer: Undisclosed
- Seller: LLC
This transaction involved Jeffrey Dewing from Coldwell Banker, who represented the seller in the deal. The buyer's identity remains undisclosed in this record-setting sale.
On the Map
$18,250,000
$1,748/SF
Single Family
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Excelsior Single Family Market Snapshot
Boundary boundary · Single Family · Sale transactions
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Deal FAQ
About $1.7K per square foot on a published $18.3M for 10,440 square feet (2026).
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Browse Excelsior single family sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.87%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93