Call it the $100 million estate that casual wear built.
That’s what Don and Doris Fisher, founders of The Gap, are asking for their Silicon Valley estate. If they get it, it will set a record, the Wall Street Journal reported.
The Fishers opened The Gap’s first store in San Francisco in 1969 and in 1975, they purchased a summer home on an eight-acre property in Atherton, about 30 miles south of the city. They paid about $211,000. They subsequently invested about $17.5 million into the property.
The Fishers purchased the home on the eight-acre property for a little over $211,000 in 1975 and invested about $17.5 million into the property.
Atherton has become one of Silicon Valley’s most expensive neighborhoods and features residents such as software engineer and entrepreneur Marc Andreessen and former Google CEO Eric Schmidt.
The current sales record for the town was set in 2011 when a 12-acre estate was sold for $53 million.
The estate, which the Fishers reportedly purchased in a probate sale, consists of a 4-acre parcel of land with a main house and two adjacent 2-acre parcels containing another house and a garden. The property also features multiple wells for irrigation.
The Fishers also created a sculpture garden with gravel paths and flower beds. The art won’t be included in the sale.
The main house has five bedrooms, four bathrooms, a swimming pool, pool house and a tennis court. Proceeds made from the sale of the estate will go to the Doris & Donald Fisher Foundation, which aims to provide support for the improvement of K-12 public school education, especially underserved students.
The Atherton estate is one of the latest high-price listings to hit the market in the U.S. Billionaire Ron Perelman is selling his East Hampton estate with an asking price of $115 million. Additionally, a couple listed their 79th-floor Park Avenue apartment for $135 million.
[WSJ] — Victoria Pruitt