Price of mansion sets record in Menlo Park

An entity tied to Vital Proteins founder Kurt Seidensticker has closed the priciest residential sale ever in Menlo Park, The Real Deal has learned.

The 7,459-square-foot property, at 1394 San Mateo Drive, changed hands in a $16.8 million deal, according to records filed in San Mateo County. The buyer is Square Seven Management, LLC. The entity is managed by San Francisco firm Iconiq Capital, which is known as an advisor for major tech executives. The limited liability company recently facilitated Facebook founder Mark Zuckerberg’s $53 million acquisition of 600 acres of land on the Hawaiian Island of Kauai.

The transaction ranks as the most expensive home sale ever in Menlo Park, which houses Meta’s headquarters and the venture capital center of Sand Hill Road. The previous record, set in 2020, was $14.75 million, according to a report from Mercury News.

Seidensticker, through an entity called 1394 San Mateo Dr, LLC, put the property on the market for $17.5 million in April. The newly-constructed home, completed in 2020, is a seven-bed, seven-bath property that sits on a 0.9-acre lot. It has features such as a pool with spa, a guest wing that can be converted into a rec room or office and a gym.

The deal closed on July 1. Seidensticker owned the property for less than two years. He bought it for $14.75 million in September of 2020.

The record may not last a long time. In April, an 8,648-square-foot estate in the area was listed for a record asking price of $26.49 million. That property is still on the market.

Seidensticker recently bought a $12.1 million home in the Los Angeles neighborhood of Pacific Palisades. He also owns a condo unit at the Jade Signature tower in Miami. Seidensticker could not be reached for comment.