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07 Jun, 2017

Splashy former Fairfax estate of entertainment mogul slated for auction

07 Jun, 2017 - Tranzon Fox

Original article published June 7 in The Washington Post
By Michele Lerner
When mortgage broker and entertainment mogul Vijay Taneja built his splashy 25,000-square-foot house at 5335 Summit Dr. in Fairfax 17 years ago, the property was meant to be a private retreat enclosed behind electronic gates with a private guardhouse. Taneja’s privacy was shattered in 2008 when his house went on the auction block. The following year he was sentenced to seven years in prison for mortgage fraud.
The estate, which sits on nearly 3.5 acres, was purchased for $3,875,000 in 2008 and is slated to be auctioned again June 15. While there is no minimum bid, the property has a tax assessment of $4,388,140 and was most recently listed for sale at $6.95 million. The auction house anticipates the final bid to be someplace in between those two figures.
The winning bidder will get a completely enclosed estate with privacy fencing and brick and wrought-iron walls. The grounds include a circular driveway with a fountain, a koi pond with a waterfall, tennis, basketball and sports courts with lighting as well as a security surveillance system, an outdoor entertainment area, extensive landscaping and an emergency generator.
Inside the palatial mansion are four finished levels with two elevators, seven fireplaces, eight bedrooms, 13 bathrooms, marble and hardwood floors and elaborately detailed moldings and trim.
Some of the more unusual features of the home include a marble-floored meditation room, an indoor swimming pool with a retractable roof, an indoor squash and racquetball court, a ballroom with marble flooring and a disco ball, a theater and screening room with a stage, a bar with seating for eight people and a spa with a sauna, a steam room and a hot tub. The house has five zones of heating and air conditioning, a lighting system with themed settings and a whole house audio system.
Property taxes are $49,352 annually. The property can be previewed on Sunday from 1 to 3 p.m.
For more information and a virtual tour, click here or call Jeff Stein at 703-539-8111.


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