Originally published Dec 20, 2013. Republished due the recent death of Paul Allen:

Microsoft Co-founder Paul Allen has sold his 292-acre private island near Anacortes, Washington for the bargain-basement price of only $8 million. The property was originally listed in 2005 for $25 million and lowered to $13.5 million a few years later.

Known as Allan Island, the island is named after William Henry Allen, who was killed while commanding the USS Argus during the War of 1812, according to Wikipedia.

Paul Allen Private IslandAccessible only by plane or boat, the island features one log cabin, a dock, a small landing strip and numerous walking trails. In 1992, the billionaire businessman and owner of the NFL’s Seattle Seahawks and NBA’s Portland Trailblazers bought the island for roughly 8 million to build a vacation home, but he never began construction.

And according to the Seattle Times: “The vision for this property is it will be a small community for good friends and family,” said Tere Foster, a Windermere real-estate agent based in Bellevue who represented the undisclosed buyer.

Listing details: “292 acre private island SW of the City of Anacortes near Skyline Marina between Burrows Bay and Rosario Strait. Accessible by private plane, boat, or float plane with a partial breakwater and dock plus a grass airstrip. Enjoy outstanding building sites with beaches overlooking Rosario Strait, the Olympic Mtns, & Strait of Juan De Fuca. Log-style home for caretakers quarters located near the dock with water, septic, and generator. Comprised of 44 tax lots.”

We don’t think that money is a concern for Allen, as he just spent $27 million on a 22,000 square foot mansion in Silicon Valley’s Atherton community.

Allen, 60, is currently dating Leigh Collier, 38, a former actress and current executive at CBS/Paramount. Allen was also recently named Seattle’s most eligible bachelor.

Paul Allen (60) is currently dating leigh collier (38).