Some Beverly Hills sizzle is coming to help sell the elegant Green Gables estate in Woodside.
Mauricio Umansky, co-founder of The Agency and star of reality TV show “Buying Beverly Hills,” joined the listing for the 74-acre estate located at 329 Albion Avenue on Jan. 4. He and co-listing agents Helen and Brad Miller of Compass also gave a 12 percent price reduction to the listing.
The new asking price is $110 million.
The Millers had served as co-listing agents on previous efforts to sell Green Gables.
Umansky said the price reduction will serve as a signal to show the market that the sellers are serious.
“Price cuts always help. It speaks to the mentality of the seller. The seller is saying, ‘I’ve lowered the price, bring me some buyers,’” he said.
He noted that a potential buyer could be a local tech billionaire, or perhaps an entrepreneur or an organization seeking to build an institute on the estate. The property is a popular wedding and corporate retreat rental.
Umansky also cautioned not to count out foreign investment. “There’s still a lot of Asian money, and it’s coming into Northern California,” he said.
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The estate, built in 1911, was listed for $125 million in May 2022. It was initially listed for $135 million in February 2021. The seller is Green Gables LLC, which is managed by William Fleishhacker, a member of the family of industrialist Mortimer Fleishhacker Sr. who developed the estate. Currently, it is the site of seven residences which span 24,000 square feet with a total of 34 bedrooms and 26 baths.
The estate also offers a tennis court, three swimming pools and a Roman-style reflecting pool surrounded by stone arches. Unique features include a reservoir and water rights to neighboring Kings Mountain, according to a description on a listing site.