“Turnkey” $50M Atherton House Goes Into Contract

A $50 million home in the nation’s most expensive zip code has gone into contract.

If it sells for less than 10 percent off the list price, it will be the most expensive sale for a single-family home in the Bay Area so far this year.

Luxury home builder Pacific Peninsula Group built the custom 14,000-square-foot home with six bedrooms, eight full baths and three half-baths for the sellers, identified as West Side Park Place LLC in public records. They bought the 1.3-acre property at 233 Park Lane for $15.5 million in 2017.

Listing agent Michael Repka of DeLeon Realty could not comment due to an NDA on the deal, he said via email. Repka told TRD when the home listed in January that by the time it was finished in 2022 they had decided to move elsewhere and listed the home, which was for sale completely furnished down to the linens and cutlery. The “turnkey” house was “well-curated,” the agent told TRD.

Their active lifestyle inspired the indoor and outdoor pools, hot tub, fitness center, bocce ball court and sports court, Repka said at the time.

While the luxury market was on pause in the latter half of last year through much of the Bay Area, the Peninsula, and particularly Atherton, has come back to life this year due in part to the return of Asian buyers.

Seven single-family homes traded for $20 million or more in Atherton so far this year, plus a sale at $19.5 million on the same block as 233 Park Lane in June. The two biggest Bay Area deals of 2023 thus far have been in nearby Woodside: the $40 million sale of a new build home to Warriors co-owner Joe Lacob and the $45 million sale of former JetBlue Chairman Joel Peterson’s estate. San Francisco has not broken the $40-million mark since 2021, and the city’s biggest deal thus far in 2023 has been the $34.5 million sale of a Presidio Heights home in March that had an asking price of $45 million since September 2022.