Not every dream house has a dream outcome. Billionaire Sun Microsystems co-founder Scott McNealy has sold his Silicon Valley home at a deep discount to its original asking price. The San Francisco Standard reported that the five-bedroom mansion in Palo Alto, CA was sold for $35 million, nearly 65% below what he asked in 2018.
McNealy reportedly purchased the 13-acre lot in the 1980s but he and his wife Susan didn’t start building the home until 2008. McNealy founded Sun Microsystems in the 1980s which was later sold to Oracle for $7.4 billion.
Over eight years, they spent nearly $11 million creating a highly customized stone and adobe structure. The house has over 21,000 square feet with every amenity a billionaire could desire, including an indoor ice rink, a gym with a climbing wall, a home theater, and a dance floor. Outside is a pool, spa, and large pavilion with views over the surrounding hillside.
The home first hit the market for $96.8 million in 2018. It was relisted for $53.
9 million in January 2020 and removed from the market in 2022. The sale was handled off-market. Realtor Deepee Chattha, who had the listing in 2020, told the San Francisco Standard, “Whoever bought this property got a steal, even in the current economy.
" Real estate in Palo Alto, one of the most expensive cities in Silicon Valley, has continued to escalate in price. According to a June Redfin report, prices were up 15.6% year-over-year with a median price of $3.
6 million. While sales were down.