Reduced a few more times over the past couple of years, to as low as $15.99 million in late 2017, the property went to auction this past December in Hong Kong, “in hopes of securing a Chinese-based buyer.”
And the winning bid for 700 Kings Mountain Road was $8.2 million. But with a required buyer’s premium of 15 percent, we’ll call it an effective sale price of $9.4 million. No official word as to the provenance of the buyer.
Nothing wrong with the house. The seller was an idiot to think it was ever worth $47.5m. The location is good in town, flat ground and 3 minutes to 280. A bargain. $9m $700/SF compared to $1000/SF in the Sunset. $1500/SF in PA
I guess there is limited demand for 12000sf houses
Who said I wanted to buy there? I said “I rather live there”, you know, as the gardener living in a cottage or something like that, because buying a home?
I actually agree with that. Beautiful place, but weird feel especially when you start learning about the politics there. Like some families own most of the commercial space and control who can open a business there. Atherton seems more eclectic. New money and old families who weren’t wealthy and wish it were still the rural place they bought into in the 50s.
Woodside is for horsey people. Atherton has smaller lots and is basically part on Menlo Park. Woodside shares the same zip code as Emerald Hills and parts of RWC. So if those folks want snob appeal they can show Woodside as their address.
I told the story of a friend of mine, a guy from Atherton retiring gave him an empty piece of land during the 70s-80s in lieu for some small and petty debt. What the hell am I going to do with an empty lot he said. He decided to get paid instead.
