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The little California city of Los Altos Hills is no stranger to luxury real estate. Located just a short drive from the headquarters of Facebook, Google, and hundreds of promising young startups, this tony town is where you shop for real estate once you’ve cashed in precious equity and made it big.
The median listing price in this exclusive enclave? $3.2 million.
So it wasn’t a huge shock to find the week’s most expensive new listing on realtor.com® in Los Altos Hills. The home originally hit the market in late 2015 for a head-spinning $88 million. The owners relisted the property this week, after dropping the price to $68 million.
The 8-acre property (an extremely rare parcel size in Silicon Valley) includes a 22,000-square-foot main house with five bedrooms, seven baths, and five half-baths, and a 1,064-square-foot “executive center,” for millionaires who want to work from home in style.
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realtor.com
The home was built in 2010 by technology entrepreneur and venture capitalist Kumar Malavalli. He was co-founder of Brocade Communications, a company that went public in 1999 and was acquired last year for $5.5 billion.
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realtor.com
The house has spacious indoor and outdoor entertaining areas that are ideal for large-scale, catered events, according to the listing. The landscaped grounds feature 12 fire pits and vistas of Silicon Valley’s foothills. Inside, there’s a swimming pool and spa, with a swim-up bar and retractable roof. Guests won’t go thirsty, either: The home has a 3,000-bottle wine cellar, complete with an indoor waterfall.
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There are four guest suites, each with a private patio. Elsewhere, there’s a 15-seat home theater, bell tower that doubles as an outdoor stage, sculptures, a meditation garden, massage room, sauna, two billiard rooms, and a catering kitchen.
The post $68M Silicon Valley Estate Is This Week’s Most Expensive New Listing appeared first on Real Estate News & Advice | realtor.com®.
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