Although Paul Allen, the co-founder of Microsoft, died in 2018, his real estate legacy is strong.
While the final price came in lower than asking, it still ranks as one of the priciest sales ever in the exclusive enclave. As far as recent history goes, the sale price tops Steph Curry‘s purchase of a $31 million home in Atherton last June.
“It’s the highest sale in Atherton since 2017,” says the listing agent Tom LeMieux, with the Menlo Park office of Compass, who represented the buyer in the transaction. “It would be among the top three or four sales ever in Atherton.” Courtney Charney with Parc Agency Corporation represented the seller.
LeMieux said he is tracking an overall market that’s “flattening out a little bit in the entire Bay Area,” but added, “That luxury segment continues to be a very active segment of the market.”
He notes that a different Atherton mansion in the $32 million price range is pending sale and is about to close as well.
San Francisco-based luxury real estate specialist Joel Goodrich, discussing the sale of the Allen property, comments, “I do believe that is a preview of the 2020 ultra-luxury market.”
“With NASDAQ at all-time highs and San Francisco-Silicon Valley remaining the tech capital of the world, we remain one of the top business destinations for national and international ultraluxury home buyers needing a presence in the Bay Area.”
Atherton, the upscale community south of San Francisco, has been home to Google’s CEO Eric Schmidt and brokerage boss Charles Schwab. With a stratospheric median home price of $7,949,500, and only 26 homes available at the moment, the area has long been considered one of the priciest in the United States.
Allen had purchased the brand-new property in 2013 for $27 million, records show.
The contemporary estate measures 21,000 square feet, with seven bedrooms and eight full, plus five half-bathrooms.
Set on almost 2 acres, the grounds include grassy areas, patios, a pool, and an outdoor fireplace with seating, as well as a guesthouse.
Inside, there’s a bright and airy living room, a formal dining room, a sleek open kitchen with two islands, and an adjoining family room with a fireplace.
In addition, the space features an office, a home theater, and a casual eating area that opens onto an outdoor dining space.
The master suite includes two walk-in closets, a bath with double vanities, and a stand-alone tub.
The transitional, contemporary design, veering away from more traditional styles, is very attractive to buyers, says LeMieux.
“That’s been the trend. It was attractive to Paul Allen when he bought it, and the same features and look helped it sell this time.”
Allen, who had ties to the Pacific Northwest, as the owner of the Seattle Seahawks and Portland Trail Blazers, had also put down roots in California.
Along with the Atherton mansion, he had also purchased a choice, 120-acre parcel of land in Beverly Hills in 1997 for $20 million, which he had intended to develop into a megacompound.
Known as “Enchanted Hill,” the acreage returned to market in early October last year for $110 million, to become the most expensive listing on realtor.com®. According to news reports, the property was apparently snapped up recently by the billionaire founder of Amazon, Jeff Bezos, for a reported $90 million.
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