A $32 million Atherton listing sold for $100,000 over the asking price after multiple offers came in for the “sexy” new-build property, according to its listing agent, Mara McCain of The Agency.
The Beverly Hills-inspired seven-bedroom, ten-bathroom from Alamo-based Ony Homes set a new record for a one-acre property in Atherton’s West of the Alameda neighborhood, she added.
“It’s a high-stakes business, so you’ve got to get everything right, but he really nailed it,” she said of Ony founder Mark Cherno.
The finishes were next level, even for Atherton’s extremely high end market, agreed buyer’s agent Nathalie de Saint Andrieu of Christie’s International Sereno.
“Yes, the homes are beautiful but usually they don’t do fully imported Italian cabinetry, full Italian kitchens. They normally don’t go to that extent,” she said.
The buyer is 94 Melanie LLC, according to county records. De Saint Andrieu declined to name her clients, but said they were a young family who most recently lived in London and own several homes. They plan to make the Atherton home their primary residence.
They beat out another offer after coming in second in the initial round of bidding.
“They really wanted it and could not be more happy,” de Saint Andrieu said.
It’s unusual for homes in the ultraluxury price bracket to get multiple offers and go into contract within a month of hitting the market; another home in Atherton had been quietly listed for months before selling at $51.5 million, the highest price sale in the Bay Area so far this year.
McCain was the one who found the property at 94 Melanie Lane and showed it to Cherno, she said. He bought it for $4.5 million in 2021, according to county records.
Though Cherno has built several luxury homes in and around Alamo, including some custom work for celebrity clients, this was his first Atherton deal, McCain said. She wouldn’t name names, but the “Press” section of the Ony website links to stories about an Alamo home formerly owned by Warriors star Steph Curry, as well as one about the Bay Area home of retired Warrior Andre Iguodala.
The Atherton property first came to market as just dirt with approved permits in 2023 and an asking price of $25 million. Last year, it returned to market mid-construction asking $32 million. Both times it failed to find a buyer, which didn’t surprise McCain, given that most Atherton buyers already own one, if not several, very nice homes and don’t have to make a move unless they are wowed.
“Atherton is really a very finished product market,” McCain said. “It’s not a need to or have to buy. It’s a want to buy.”
Cherno is a “high-end luxury finish aficionado” who traveled internationally to select just the right finishes, McCain said, like the Armani fabric for the movie theater. He has a sleeker, more LA-inspired take on design than other Atherton developers, she added.
“He brought a lot of the sexy to Atherton and it was a very different product than Atherton is used to,” she said.
The buyers had been in the market for some time and not seeing the level of construction they wanted. They were considering a custom build when the Melanie Lane house came on the market completed last month and immediately knew the home was “perfect” for them as soon as they saw it, de Saint Andrieu said.
In addition to the high level of finishes, they also loved the “super private” location on a cul de sac, and the view of San Francisco, which is unusual for Atherton. They were also drawn to the wellness features of the home, like a spa with dry stone and infrared heat, steam showers, fitness and massage rooms, and multiple fountains indoors and out “making beautiful noise,” she said.
Though the property, which has just under 13,000 square feet, is large and has floor-to-ceiling glass walls in many rooms, all the rooms felt “homey,” she said, and the yard and pool were also just right for the family.
Cherno is planning to buy more Atherton sites after this sale, McCain said, declining to give specifics.
“The price point in Atherton allows a luxury builder to go all the way — if they’re not afraid,” she said. “He was fearless.”
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