A trust tied to Iconiq Capital, a family office known for managing the assets of tech billionaires such as Mark Zuckerberg and Jack Dorsey, has completed the priciest home trade so far this year in San Mateo County.
The San Francisco-based firm bought 160 Mountain Wood Lane, a four-bedroom, seven-bath home in Woodside, for $54.4 million, according to a deed filed with San Mateo County’s Clerk-Recorder’s Office. The deal closed on July 15. The transaction appears to be an off-market deal, and it’s unclear who represented both the buyer and the seller.
The home was built in 1996 and sits on a 12.8-acre lot, according to a listing on Redfin. The seller is Spencer Lane Woodside LLC, an entity that has a San Francisco post office box business address. The limited liability company acquired the home in 2021, property records show.
At $54.4 million, the transaction ranks as the priciest home sale so far this year in San Mateo County, according to a TRD analysis of closed sales and reported deals. The top spot in the rankings previously belonged to Gap co-founder Doris Fisher, who sold the bulk of her family estate in Atherton for $48 million in June.
In November, an entity tied to Iconiq Capital closed one of the priciest home sales in San Francisco during 2023. The firm represented the buyer of 3052 Pacific Avenue, the long-time Presidio Heights home of Foresite Capital CEO James Tananbaum. That deal was valued at $31.2 million.
The Woodside deal comes with the luxury home market in the Bay Area on an upswing. According to brokerage Compass, there were 450 deals above the $3 million threshold across the Bay Area in April. That represents a 66 percent increase compared to a year ago.
In the higher price range, San Mateo County led the Bay Area with 21 deals above $10 million. That figure is slightly less than the other nine counties in the Bay Area combined.
Iconiq was founded by former Morgan Stanley executive director Divesh Makan. The firm managed $77 billion in assets at the end of 2022, according to a previous report from Bloomberg.