It turns out that a modern California masterpiece of a mansion is a harder sell than previously thought.
First listed back in 2015 for $88 million, this home in the Silicon Valley town of Los Altos Hills just got a $20 million price cut.
That original number made it “one of the most expensive properties ever to be publicly listed in the area,” listing agent Michael Dreyfus of Sotheby’s International Realty told The Wall Street Journal. It’s important to note, however, that homes in the area have changed hands privately for more.
The home is owned by tech entrepreneur Kumar Malavalli, founder of Brocade Communications Systems and current head of venture capital firm VKRM.
The $68 million compound includes two structures: a 20,400-square-foot main house and a 1,024-square-foot “executive center.” Malavalli uses the compound for both living and working, ensuring a commute as easy as a walk through the property’s meditation gardens.
He and his wife are now selling the home to be closer to their grandchildren.
Michael Dreyfus of Sotheby’s International Real Estate has the listing.
Hidden in the Silicon Valley enclave of Los Altos Hills, California, lies a huge, eight-acre estate.
This is no mere cookie-cutter McMansion.
The grand entryway is framed by lattice and guarded by a lion statue.