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Keri Nicholas reports record per square foot home sales price in Menlo Park

 

Keri Nicholas of Alain Pinel Realtors said she recently closed a sale on a home at 520 Olive St. in Menlo Park for $5,998,000, which she said set a per-square-foot sales price record in Menlo Park at $1,630 per square foot.

"This custom home is the essence of understated, elegant living," said Ms. Nicholas, who represented the seller, Benchmark Builders, which constructed the 3,661-square-foot, four-bedroom, five-bath home.

Some of the house's custom finishes and design elements, she said, are: grass cloth wallpaper in the dining room; a 48-inch Wolf six-burner range and a custom-cabinet-encased Sub Zero 48-inch integrated refrigerator in the kitchen; separate walk-in and butlers pantries; Lutron Home Automation; and master bath marble countertops.

Inventory remains "remarkably low" in Menlo Park, Ms. Nicholas said. "Homes in this area are only on the market about 21 days from listing through closing, so when opportunities present themselves buyers move quickly and that benefits motivated sellers."

Comments

15 people like this
Posted by Chuck
a resident of Woodside: Mountain Home Road
on Apr 20, 2016 at 8:28 am

"Understated and elegant."

Gotta love real estate brokers.


Like this comment
Posted by Linfield Oaks Mom
a resident of Menlo Park: Linfield Oaks
on Apr 20, 2016 at 4:44 pm

That is a lot of money per square foot. But is it really the highest? Seems like there are even higher sales. Didn't a house on East Creek go for $1,680+ per square foot?


5 people like this
Posted by Stop the Trolls
a resident of another community
on Apr 20, 2016 at 4:56 pm

At $1,630 a square foot, my college apartment would have retailed at $1.1 million.

Good thing my landlord never saw this article...


Like this comment
Posted by Resident
a resident of Menlo Park: The Willows
on Apr 21, 2016 at 10:01 am

Wow!


2 people like this
Posted by Serenity Now
a resident of Menlo Park: Suburban Park/Lorelei Manor/Flood Park Triangle
on Apr 21, 2016 at 8:27 pm

I don't care how nice a home is; that amount of money per sf is completely insane.


4 people like this
Posted by POGO
a resident of Woodside: other
on Apr 21, 2016 at 9:32 pm

Funny how property owners cheer and celebrate these benchmarks ... while complaining about the lack of affordable housing.


6 people like this
Posted by supply & demand
a resident of Menlo Park: Central Menlo Park
on Apr 22, 2016 at 8:40 am

These prices represent a lot of demand chasing too few opportunities to buy.

As a homeowner and parent, I do not rejoice these absurd prices. We cannot spend the equity in our house until we leave our home community, which we do not want to do. Our children may never be able to afford to live in their hometown; only the most wealthy could.

What kind of community will Menlo Park become if there is little economic diversity?


Like this comment
Posted by MenloMom
a resident of Menlo Park: Allied Arts/Stanford Park
on Apr 22, 2016 at 7:29 pm

Tech Bubble!!! Let's see what it sells for in 2 years...


Like this comment
Posted by Peak
a resident of Menlo Park: Central Menlo Park
on Apr 23, 2016 at 7:07 am

Sure sign of a peak. Not a supportable level. Really just point in time with a particular buyer needing to buy and having the disposable $. Probably a one off thing but not a good sign otherwise. Boasting about this outcome is good for sellers but not potential buyers.


Sorry, but further commenting on this topic has been closed.

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