The Real Deal New York

Silicon Valley banker sells his enormous mansion for $25M

The library features a hidden speakeasy
By Business Insider | January 11, 2015 10:13AM

Kelly Porter, a managing partner at investment bank Woodside Capital Partners, has sold his massive Los Altos Hills, California home to Nora Lacey, president of biotechnology company Cell Marque Corporation. The sale price was a whopping $25 million, realtor Arthur Sharif, who represented Porter in the sale, confirmed with Business Insider exclusively.

“It’s a historic home,” Sharif told us. “It was never a question of whether we would get the price we wanted — it was about finding the right person. We wanted someone who would appreciate the architecture.”

Porter originally listed the property for $45 million in 2008, then later chopped the price down to $36 million before listing it at $27 million. Sharif added that they had received multiple offers on the home, including one from a couple who worked at Facebook and another from someone who had also wanted to buy the neighbor’s property.

Known by some as the “Morgan Estate,” the 30,000-square-foot house received landmark status when it was completed by former Stanford University trustee Percy Morgan in 1914. It has seven bedrooms and seven bathrooms, and decadent gold-leafed ceilings and marble statues can be found throughout the property. There’s even a speakeasy hidden behind a false shelf in the library.

The house sits on a 7.5-acre lot in Los Altos Hills, part of Silicon Valley.

There are lots of classical details both inside and outside the home, including this statue by the entryway.

The inside decor is dramatic, with high ceilings, custom millwork, and decadent chandeliers.

The Morgan Estate has played host to a number of sophisticated parties — and this ballroom looks like something out of a European palace.

And there’s some very impressive woodwork in this dining room.

In the library, a tricky shelf triggers a door that leads to a hidden speakeasy.

The decadence continues upstairs.

This detached marble tub is gorgeous.

And the carvings on this sink are one-of-a-kind.

This cave-like wine cellar is great for serious collectors.

The property is actually made up of four separate structures — the main house, guest house, ballroom, and fitness facility — with landscaped courtyards connecting them.