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Still, a historic property located down the road from Facebook and Google has some serious sticker shock. 1550 Portola Road in Woodside, California, hit the market for $48 million in July, up almost 700% since the compound last sold at the height of the recession in 2008.
Once belonging to socialite Adelaide Kirkbride, the sprawling circa-1915 home sits on seven acres with a private lake and horse stables. It is currently the priciest listing in Silicon Valley.
We spoke to listing agent Pierre Buljan about what makes this home worth the dough.
Woodside is a semi-rural enclave of Silicon Valley where the technorati, including Steve Jobs, Larry Ellison, and SoftBank’s Masayoshi Son, have lived over the years.
For $48 million, you can be neighbors with the most influential people in tech.
The property at 1550 Portola Road — named “Canardia” — once belonged to local socialite Adelade Kirkbride. An unnamed real-estate investor bought it for $6.1 million in 2008.
The home was not foreclosed on, contrary to past media reports, according to listing agent Pierre Buljan. Multiple families owned the property through a family trust; after several members died, the bank sold it for a bargain price during the housing crisis in 2008.
The French country-inspired estate sits on seven acres of lush landscaping. Massive windows in nearly every room let the natural light soak the hardwood and tile floors.
The home features five beds and seven and a half baths spread across 6,305 square feet.
A gourmet chef’s kitchen has two seating areas and room to prep a meal for a crowd.
It’s a little gaudy, sure, but a buyer with $48 million to spare can afford the renovations.
The original owners spared no expense when building their dream home. It has a master bedroom “wing” with vaulted ceilings and French doors leading to a private balcony.
The master bathroom looks enormous.
We bet this walk-in closet could fit most San Francisco studios inside.
Homeowners have the option to take a dip in the swimming pool …
… or slide into the blue-green waters of a private swimmable lake on the property.
1550 Portola Road has horse stables that can accommodate 14 ponies. Buljan said the stables have not been well maintained, but could be converted into a roomy garage.
The property would be wasted on someone who doesn’t enjoy entertaining. An outdoor kitchen with a communal table and a fire pit makes a gorgeous setting for a party.
The gardens offer a private place for meditation.
In spite of its secluded setting, 1550 Portola Road sits in close to proximity to the offices of Google, Facebook, VC firms on the well-known Sand Hill Road, and Stanford University.
According to Buljan, the location warrants a $48 million price tag.
The main residence sits in the center of almost eight flat acres, “which is almost non-existent” in the valley, Buljan said. It allows the new owners to double the square footage of the home.
Besides, $48 million might not be all that much a tech billionaire. “Numbers don’t really matter to these guys, especially when you sell a company for a billion or more,” Buljan said.
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