Former JetBlue exec lists Silicon Valley compound for $49M

Joel Peterson’s 11-acre estate has two main homes and three for guests

National Weekend Edition /
Feb.February 20, 2021 09:00 AM
Former JetBlue Chairman Joel Peterson and his 5 house compound. (Getty, Arthur Sharif & Associates)

Former JetBlue Chairman Joel Peterson and his 5 house compound. (Getty, Arthur Sharif & Associates)

 

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


Related Articles

arrow_forward_ios
The company is planning to do the same with two or three other dealerships. (Dahlin Group)
Keys to car and castle: Silicon Valley Toyota dealer wants to build apartments above
Keys to car and castle: Silicon Valley Toyota dealer wants to build apartments above
As companies leave Silicon Valley, Austin, Texas is becoming a top destination. (Getty)
Silicon Valley exodus: Where’d everyone go?
Silicon Valley exodus: Where’d everyone go?
The quest to aggregate flexible office data
The quest to aggregate flexible office data
The quest to aggregate flexible office data
(iStock)
The effect of corporate relocation incentives on the office market
The effect of corporate relocation incentives on the office market
Realogy CEO Ryan Schneider (Realogy)
Realogy transactions soar 44% thanks to white-hot market
Realogy transactions soar 44% thanks to white-hot market
President Biden at the Leaders Summit On Climate. (Getty)
Building owners crucial to Biden’s climate goals
Building owners crucial to Biden’s climate goals
PropTech API integrations? Now you’re speaking my language
PropTech API integrations? Now you’re speaking my language
PropTech API integrations? Now you’re speaking my language
Cherre CEO L.D. Salmanson (Cherre/Facebook)
Real estate data firm Cherre raises $50M
Real estate data firm Cherre raises $50M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...