A 12 Acre Silicon Valley Estate Sells for $53 Million

This Silicon Valley estate is also known as the Levi Strauss estate as it was once owned by the legendary denim entrepreneur. The historic estate was officially sold for $53 million according to the records available with the registry. It is the top property in the Wall Street Journal report on the most expensive zip codes in America. The 12 acre property was first listed in April this year for $59.5 million but was subsequently scaled down by 11% and found a willing buyer for $53 million.

Even at the scaled down price it is the most expensive property sold in Atherton, Calif., this year so far. And if you go by the current listings, it will remain the most expensive real estate transaction in the area for the year. The estate was sold by a great-grandniece of denim entrepreneur Levi Strauss. The identity of the buyer was not disclosed and the realtors who handled the sale declined to comment. However, the purchase was made through a California based limited-liability company.

The 12 acre Silicon Valley estate was owned by San Francisco philanthropist and arts patron Madeleine Haas Russell and her family for almost a century. The property was used by the family as a summer retreat. The English Tudor-style house has over 11,000 square feet of living space including seven bedrooms. In addition there is a guest house that also features seven bedrooms. The luxury estate boasts of a pool with a cabana containing a hidden bar room, a caretaker’s cottage, a tennis court and gardens. The property was sold by the children of Madeleine Haas Russell.

Via: online.wsj

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