Former JetBlue Chairman Joel Peterson has listed his 11-acre compound in the affluent Silicon Valley suburb of Woodside.
Peterson is asking — take a breath — $49 million.
But the property does come with five separate houses. Think of the Airbnb potential.
The compound — and that is the appropriate term here — features a rebuilt Craftsman-style home designed by noted architect Bernard Maybeck, the Wall Street Journal reported. It includes a second main home, three guest houses, a tennis pavilion and court, garages, a soccer field, a pool and a barn.
Peterson began assembling the property in the early 2000s, starting with the parcel next to the 6,000-square-foot, Maybeck-designed home. He bought that plot and a neighboring one over the next few years.
The roughly 100-year-old Maybeck house was in a state of disrepair when Peterson hired a local architect to rebuild it, starting with a central pavilion. They also added a tower that Maybeck designed but never included in the original house.
Peterson also renovated a 5,100-square-foot ranch house and demolished another home at the site. The former executive, who lives mainly in Salt Lake City, used the compound when teaching at Stanford University. He said that the pandemic factored into his decision to sell.
“I haven’t been out there now for over a year. We’re not able to gather there as much,” he told the newspaper.
The Bay Area housing market has more than recovered since the pandemic-spurred downturn. As of October, existing-home prices in eight Bay Area counties were up 15 percent year-over-year, according to the Mercury News.
The opposite could be said of San Francisco proper’s rental and office markets.
[WSJ] — Dennis Lynch