New York’s affluent go to the Hamptons on Long Island, while Minnesotans head to Lake Minnetonka, where a coastal-style home asks $12.5 million.
“For Minnesota, Lake Minnetonka sort of conveys probably as close to the Hamptons lifestyle as you can get to here,” said listing agent Jeffrey Dewing of Coldwell Banker. “Lake Minnetonka is our beautiful crown jewel recreational lake in the Twin Cities.”
Dewing is representing the 9,926-square-foot home at 20100 Lakeview Ave. in Deephaven — Minnesota’s priciest listing currently. He describes the home as “Hamptons East Coast vibe and style.” It features crisp white lap siding and colonial windows.
Built in 1928, the home is located directly on Lake Minnetonka with 175 feet of private beach on 0.81 acres.
It includes five bedrooms and seven bathrooms. Dewing said the price is comparable to recent neighboring sales of similar homes, and the private beach and lot size tack on extra value.
The costliest recent purchases in Deephaven included a $7.6 million sale of a four-bedroom, six-bathroom home with 7,267 square feet in September 2024, according to Homes.com data. In June, a 10,692-square-foot lakefront home sold for $7 million. The area’s median single-family sale price in Deephaven is $1.14 million.
Sellers of 20100 Lakeview went through two rounds of remodels and one addition during their ownership, said Dewing, with the most recent being in 2021, when they revamped the home’s lakeside sunroom with floor-to-ceiling windows, a wet bar and a sitting area.
“The way they have used it, it’s very much an entertainer’s delight,” said Dewing.
From 2014 through 2016, the sellers excavated to add an indoor sports court and fitness room as the home’s lower level. They also added an upper-level bar, lounge, plus a gaming area, poker table and a home theater.
The kitchen features a butcher block island, a La Cornue stove, two dishwashers and two wall ovens.
The home also features a pet washing station, second-story deck, heated pool, outdoor fireplace, firepit, cabana and outdoor bar.
It’s located in the Cottagewood neighborhood, which Dewing said is highly sought and has a classic Americana “Norman Rockwell feel.” It was established in 1900 and is celebrating its 125th anniversary.
The home is a six-minute walk from the Cottagewood General Store, a local business and community spot run since Deephaven was incorporated in the early 1900s. Just like back then, it still sells goods and ice cream, which are available to be put down on an ongoing tab.
“There aren’t very many true neighborhoods on Lake Minnetonka,” said Dewing.