CORRECTION, July 18, 12:19 p.m. PT: This story has been corrected and updated to reflect that Stacy Denman acquired 3 Bridle Lane from Jeff Drazan in 2018 and that Denman is Drazan’s ex-wife. This story’s art has been updated to remove a photo of Drazan, as he wasn’t involved in the latest sale.
A Woodside estate with a main home, a guest house and a horse-riding arena has sold for $32.2 million, the third-most-expensive single-family residential sale in the town’s history — but also 36 percent below its initial ask.
The property at 3 Bridle Lane hit the market for sale in May 2021 with a $50 million price tag, according to Zillow data. That’s more than four times what venture capitalist Jeff Drazan and his then-wife Stacy Denman paid to acquire the then-undeveloped 12.6-acre site in 2000, title service records show. Compass’ Mary and Brent Gullixson and Neal Ward, the estate’s exclusive listing brokers, relisted it for sale twice, once for $45 million in September and the second time for $39.8 million in January, according to Zillow. It sold in late May for about 19 percent below the latter price, at about $2,421 per square foot of living space.
Mary Gullixson declined a request for comment. Denman, who acquired 3 Bridle Lane from Drazan in 2018 as part of their divorce, didn’t respond to requests for comment. The buyer, a limited liability company named Downburst LLC, was incorporated in Delaware in March but isn’t registered with the state of California. Its agent for service of process didn’t respond to a request for comment.
While 10 different homes have sold in the $20 million range in Woodside, a small Peninsula town of 5,100 or so residents, only three sales have ever eclipsed $30 million there: 3 Bridle Lane and two homes along Mountain Home Road, according to Zillow data. The seven-bed, nine-bath house at 246 Mountain Home Road holds the record for Woodside’s priciest home sale, selling for $35 million, or about $3,628 a square foot, in February 2021. The three-bed, three-and-a-half-bath home at 618 Mountain Home Road, meantime, sold for $33.4 million, or about $5,842 a square foot, in December, more than double what 3 Bridle Lane sold for on a per-square-foot basis.
Although the Bridle Lane sale isn’t a new high-watermark for Woodside, its array of amenities makes it stand out from the two homes that sold for more. Completed in 2006, the gated estate includes an almost 12,000-square-foot, two-level main home, a 1,480-square-foot guest house, a detached four-car garage and a pool house. The home’s main floor has four bedrooms, two bathrooms and living, dining and family rooms, while the lower level comes with an 11-seat movie theater, a rec room and a wine cellar, according to its marketing website. The property’s southern half features a 26-foot-by-60-foot saltwater swimming pool with a built-in spa, a tennis court that connects it to a six-stall horse barn, and a 110-foot-by-190-foot equestrian arena, according to its website.
Taken together, the property’s perks and layout offer room for children to grow and play and adults to exercise and take in the surrounding wilderness, according to its website.
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San Francisco
Former home of Larry Ellison falls 44 percent below ask