Turnkey House in Atherton Sells for $40M

A turnkey Atherton home with six bedrooms and eight bathrooms in over 14,000 square feet has sold for $40 million — the biggest sale of the year in the country’s most expensive zip code and one of the top three on-market residential deals in the entire Bay Area thus far in 2023.

Michael Repka of DeLeon Realty represented the sellers, who planned on living in the home they had had built, designed and furnished down to the cutlery and linens before deciding to move elsewhere, the agent told TRD when the property came to the market at nearly $50 million at the start of the year. 

“The sellers know that most successful people in Silicon Valley are very busy,” he said at the time. “Having a home that is so turnkey and well-curated is of a lot of value to many people.”

The sellers bought the property through an entity called West Side Park Place in April 2017 for $15.5 million, according to public records. The custom-built home by Pacific Peninsula Group was not completed until last year. It was their active lifestyles that inspired the indoor and outdoor pools, hot tub, fitness center, bocce ball court and sports court on more than an acre of land, Repka said earlier this year.

Repka did not reply to a request for comment on the sale to a limited liability company named  233 PL Holding, represented by Michael Warren at Compass. Warren could not comment on the sale itself but said via email that “influential figures such as top executives, company founders, and venture capitalists consistently express to me that Silicon Valley, particularly Atherton and Woodside, is the ultimate hub for collaboration and successful business ventures. With this in mind, I have a strong inclination that we can expect to witness more remarkable $40 million-plus sales in the near future.”

Warren indicated that he had assisted other buyers in deals for more than $40 million in Atherton this year as well, though he could not speak to specific properties. According to Redfin and Compass, there have been no on-market deals above $40 million in Atherton in 2023, with the next highest deal coming in at about $27 million. 

The biggest listed single-family sale in the Bay Area so far this year was in neighboring Woodside, where former Jetblue Chairman Joel Peterson sold his 11-acre compound for $44.5 million in February. Tying for second-place with 233 Park Lane, Warriors owner Joe Lacob bought in Woodside for $40 million in February as well.