Woodside compound with new guest homes sells for $29M

One or more high-net-worth individuals have acquired a Woodside compound with two new guest cottages, a swimming pool and an outdoor kitchen for $29.4 million. The deal represents the Peninsula town’s fifth-priciest residential sale ever.

The 3-acre estate at 215 Mountain Wood Lane sits on a private road and includes a 6,200-square-foot main home with four bedrooms and five full and half bathrooms, according to listing agent Linda Hymes’ website. The property’s previous owners commissioned an expansion and remodeling of the home that received a final inspection in April, according to Woodside’s online permit portal.

The project was one of several proposed additions and changes to the property by its most recent owners Triton Property Investments from July 2017 until February, and then Derek Gaffney and Leslie Naify from that month onward after they jointly acquired it for about $4.5 million, title service records show. Most of those new additions received final inspections during the last two years, including a three-bed guest house, a studio guest suite, a pool and terrace behind the main home, and an electric gate, permit portal data show.

The buyer, a limited liability company named MWL215, purchased the property on Sept. 6, according to San Mateo County Clerk-Recorder’s Office records. The company shares a mailing address with Apercen Partners, a tax consulting firm serving high-net-worth individuals.

Neither Palo Alto-based Apercen, Intero agent Hymes, nor Naify responded to requests for comment.

The latter, who owned 80 percent of the Woodside estate before the latest sale, is one of two daughters of the late Robert Naify, who the San Francisco Chronicle described as a movie theater, media and real estate billionaire in a story about his death in 2016. He and his brother Marshall owned more than 1,100 movie theaters at one point before selling them all in 1986 for $390 million, the Chronicle reported.

The Mountain Wood Lane sale is the fifth-priciest for a residential property in Woodside’s history, behind four others in the low-to-mid $30 million range, according to Zillow data. While more than a dozen submarkets in San Mateo County saw home sales volume decline from July to August, Woodside’s has increased nearly 17 percent in that time, according to MLSListings data.

The deal could signal an active fall selling season for Woodside’s high-end residential market, which has seen two sales in the $30 million range in the last six months. San Mateo County usually sees a spike in new listings after Labor Day that fuels the fall market, although the latest Fed rate hike and a declining stock market make it difficult to predict how the next few months will play out, according to Compass’ latest report on the region.

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