You win some and you lose some, although losing is presumably relative when talking about potential eight-figure real estate deals.
The gigantic Silicon Valley home of Brocade Systems Communications founder Kumar Malavalli at 27500 La Vida Real in Los Altos Hills dropped $20 million from its list price this week, a reduction that itself could purchase several nearby homes in even that ultra pricey burgh.
The deep pocketed Malavalli put his five-bed, nine-and-a-half-bath (seven full baths plus five partials), eight-acre home up for $88 million in late 2015.
Quartz called it “truly stunning” and “the pinnacle of work-life balance.” Realtor Michael Dreyfus declared it “a resort of your own” and noted that it was one of the most expensive properties in the history of Silicon Valley.
It’s got all of the usual perks of a custom home from the tech set elite: a dozen outdoor fire pits, an office so big (more than 1,000 square feet) that it’s dubbed an “executive center,” a wine cellar that holds 4,000 bottles, and the swimming pool has a retractable roof and (wait for it) even a swim-up bar.
It’s remained unsold for almost a year and a half now, although that’s hardly surprising given how few people in the world can really afford it to begin with. This week’s price but down to $68 million might cast the net a bit wider.
As usual, note that dropping the price doesn’t necessarily reflect on the value of a property—although it of course does make it clear that nobody was sufficiently interested at $88 million.
SocketSite notes that the present listing no longer features the address, but it’s clearly still the same home at a new price. After all, just look at it.
- Silicon Valley Estate [Sotheby’s]
- Inside The Estate of BCS Founder [WSJ]
- Entrepreneur’s $88 Million Estate Pinnacle of Work/Life [QZ]
- Estate Worthy of Silicon Valley Elite [Robb Report]
- Quiet $20 Million Cut For Estate [SocketSite]