The Stevenson Farm, the undeveloped five-acre parcel along Island Crest Way, has sold. The land is considered one of the last large undeveloped parcels on the Island.

According to real estate agent Pete Hayes of CBBain, the property at 6053 Island Crest Way sold close to its $6 million asking price. The new owners he said, want to keep the property as an equestrian facility.

They also own property on the Island, he added.

The land was used for boarding horses for decades. Lewis C. Stevenson Sr., who owned the property, died in March 2011. At his death, there were 10 horses boarded there. Less than a month later his heirs asked the horse owners to find other lodging for their horses, in order to ready the land for sale. The land has been vacant every since.

The Mercer Island School District had made a agreement with the sellers to purchase the property if the school bond put to voters last spring had passed. The Mercer Island School Board saw purchasing the land as an opportunity. The intent was either to build a school there or to ‘bank’ as an asset that could be used toward acquiring land at another location either as a trade or a sale.

When the school levy did not pass, the land was again available for sale.