News

Atherton: Builders pay $10.5 million for one-acre lot with teardown

They plan to build a "spec" house and list it for $27 million

It's a sign of the times. A one-acre lot in Atherton recently sold for $10.5 million to builders who say they plan to replace the 1950s ranch-style home on the property with a "spec" house and list it for $27 million.

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Comments

12 people like this
Posted by oops
a resident of Menlo Park: Central Menlo Park
on Feb 9, 2016 at 12:27 pm

I think Mr. Skrabo analyzed this deal before many people lost 15% of their worth over the last 5-6 months.

You can't look at data from prior valuations which were predicated on escalating and unsustainable stock market conditions combined with record low real estate inventory.

I hope he does okay in the final analysis, but I don't see how that's going to happen for just 1 acre in Atherton ... regardless of the particular appeal of the street.


6 people like this
Posted by MEMBERONE
a resident of Atherton: Lindenwood
on Feb 9, 2016 at 1:18 pm

I'll sell my scraper for $9.5M...


8 people like this
Posted by really?
a resident of Menlo Park: other
on Feb 9, 2016 at 1:44 pm

For that money you'd think they'd pay for a decent architect to do a better rendering...


13 people like this
Posted by style?
a resident of Atherton: other
on Feb 9, 2016 at 2:02 pm

Seriously, awful rendering of a sad design. Cramming 7 bedrooms into that half-styled box, on 1 acre, for 27 mill?

I'm sure it will have all the latest features and toys. It's just missing something called "charm."

Ugh.


10 people like this
Posted by Peter Carpenter
a resident of Atherton: Lindenwood
on Feb 9, 2016 at 2:10 pm

Peter Carpenter is a registered user.

Thank you for the huge increase in property taxes - even before the house is built.


5 people like this
Posted by style?
a resident of Atherton: other
on Feb 9, 2016 at 3:04 pm

I was harsh about the style. I am forgetting that the kind of design and the price range isn't to attract me as much as it is to attract foreign buyers.

Time will tell.


2 people like this
Posted by Jim S.
a resident of Atherton: West Atherton
on Feb 9, 2016 at 8:19 pm

I'm very pleased to see the Modern design and a more sophisticated looking home. We have enough of the cookie cutter homes being built here. Bravo for being bold and different. Kudos


2 people like this
Posted by debbie
a resident of Menlo Park: Central Menlo Park
on Feb 10, 2016 at 6:44 am

[Post removed for using multiple user names on same thread.]


2 people like this
Posted by Victoria
a resident of Woodside: Mountain Home Road
on Feb 10, 2016 at 6:55 am

[Post removed for using multiple user names on same thread.]


6 people like this
Posted by Menlo Voter.
a resident of Menlo Park: other
on Feb 10, 2016 at 7:12 am

Menlo Voter. is a registered user.

style?:

Contemporary or modern is the new "thing". We're building more and more of them. Don't let the "simplicity" fool you, they're very difficult to build right. All straight, parallel and perpendicular lines. Everything has to line up and there is nowhere to hide a mistake. A small mistake in the foundation can result in a problem at finish as it carries all the way through. Cost of construction is higher on these designs because of it.


2 people like this
Posted by AthertonRes
a resident of Atherton: West of Alameda
on Feb 10, 2016 at 7:22 am

Looks great fellas! Happy to see the Modern design on a large scale. I appreciate what you're building.


2 people like this
Posted by Janet1
a resident of Menlo Park: Allied Arts/Stanford Park
on Feb 10, 2016 at 7:24 am

Love love love Modern :)


Like this comment
Posted by Hmmm
a resident of another community
on Feb 10, 2016 at 11:29 am

Serious question: Will it have a regular kitchen in addition to the outdoor kitchen and private chef's kitchen en suite? Otherwise it'll be awkward for nanny to microwave tofu corn dogs, fish fingers and day old Mac n cheese for the lil ones.


Like this comment
Posted by Barbara Wood
Almanac staff writer
on Feb 10, 2016 at 11:54 am

Barbara Wood is a registered user.

Sorry for the confusion Hmmm. The chef's kitchen, is the kitchen, not part of the master suite.


Like this comment
Posted by Hmmm
a resident of another community
on Feb 10, 2016 at 12:42 pm

Thank you, Barbara, for the clarification. Glad to know that that nanny won't have to microwave leftovers in the outdoor kitchen during inclement weather ;-)


1 person likes this
Posted by James
a resident of Atherton: other
on Feb 11, 2016 at 1:21 pm

Antherton used to be a really nice neighborhood before so many started building monuments to themselves. In the last 10 years, there hasn't been one home built with the charm of the home it replaced. This isn't surprising when you consider those moving-in. Too bad.


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