Mansion in California’s Priciest Market Asks $50 Million

Another ultra-luxury abode in Atherton hit the market, asking $49.9 million.

The 1.4-acre estate at 88 Tuscaloosa Avenue is in the Peninsula enclave, long ranked as one of the priciest ZIP codes in the country, Robb Report reported. The listing agent is Joe Piazza at Coldwell Banker Realty. The seller of the 17,000-square-foot contemporary wasn’t identified.

Other high-profile sales in Atherton in the past year include the home of venture capitalist Marc Andreessen, who sold his longtime home earlier this year for $27 million after asking $33 million.

Not long after that, former Google CEO Eric Schmidt listed his Atherton home for $24.5 million, later closing the sale for $22.5 million; Schmidt spent $24 million on a condo in San Francisco in June.

The Tuscaloosa Avenue home comes with several amenities like a spa with a Japanese soaking tub, a Finnish sauna and a steam room; a home theater with 4K laser projection capabilities; a lower-level club room with billiards and poker tables; a temperature-controlled wine cellar with capacity for 500 bottles; and a heated cabana near a glass-walled pool and court for tennis, pickleball and basketball.

If the property sells for close to its asking price, it would instantly rank as the second-priciest sale in the Bay Area this year, just under the $51.5 million paid for the Atherton home of former Seagate Technology CEO Stephen Luczo.

That home, at 81 Somerset Lane, sold to Reksio LLC, registered to Greg Biagini, a San Francisco-based financial advisor with Realize CPA, the Mercury News reported. The Luczos bought the home in 2013 for $13 million.

Last month, Atherton’s 94027 lost its crown as the country’s priciest ZIP code for the first time in PropertyShark’s decade-long history tracking the statistic. It was replaced by 33109 in Miami Beach’s Fisher Island, where the median sales price in the past year was $9.5 million. Atherton’s median sale price was a little over $8.3 million.

— Chris Malone Méndez