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Fri Jan 25, 2013, 11:35 PM

Silicon Valley real estate stunner: Woodside estate sells for $117.5 million

Source: San Jose Mercury News

A legendary investor's sprawling estate here has sold for $117.5 million, one of the highest prices ever for a residential property in the U.S.

The sale price eclipses the previous Silicon Valley record of $100 million paid for a Los Altos Hills mansion by Russian investor Yuri Milner in 2011 and comes amid a red-hot market for luxury home sales in Silicon Valley and the Peninsula.

... The Woodside mansion on Mountain Home Road is in a neighborhood populated by Silicon Valley power brokers like Larry Ellison, whose home is less than a mile away. Even modest houses are commanding prices of more than $1 million in nearby communities that are closer to the Facebooks and Googles of the valley.

"There's enormous pressure on housing between San Carlos and Cupertino," said Wendy McPherson, who manages Coldwell Banker's Woodside, Portola Valley and Menlo Park offices. "You cannot buy anything in Menlo Park for less than $1 million."

Read more: http://www.mercurynews.com/business/ci_22453809/woodside-estate-sells-117-million-near-record-luxury

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Reply Silicon Valley real estate stunner: Woodside estate sells for $117.5 million (Original post)
Newsjock Jan 2013 OP
DollarBillHines Jan 2013 #1
Lucky Luciano Jan 2013 #2
kestrel91316 Jan 2013 #3
Starry Messenger Jan 2013 #4
Name removed Jun 2013 #5

Response to Newsjock (Original post)

Fri Jan 25, 2013, 11:48 PM

1. It's crazy out here.

There are very few available properties.

For reasons unknown to me, Money wants to move to the Bay.

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Response to DollarBillHines (Reply #1)

Sat Jan 26, 2013, 12:00 AM

2. There is money to be made there.

There will always be a premium for real estate where you can make good money.

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Response to Newsjock (Original post)

Sat Jan 26, 2013, 01:08 AM

3. It's past time to eat the rich.

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Response to Newsjock (Original post)

Sat Jan 26, 2013, 01:12 AM

4. Well, on the flipside--

 

there goes the theory that big money was going to flee CA after the passage of Prop 30...other than that, I have nothing. My rent just went up and I live 15 minutes away from the SV hothouse. It's great to live here if you have money. Too bad I don't.

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