Nobody wants this $40 million Silicon Valley mansion that's seen $44 million in price cuts and has sat on the market for nearly 4 years
Bernard Andre
A Silicon Valley five-bedroom home has gone without a buyer since first being listed in 2016 for $88 million.
Four years later and it's priced at $40 million.
The home is owned by venture capitalist Kumar Malavalli and comes with an indoor pool, a 15-seat movie theatre, and a separate on-site structure known as the "executive center."
It turns out that a modern California masterpiece of a mansion is a harder sell than previously thought.
First listed back in 2016 for $88 million, this home at 27500 La Vida Real in the Silicon Valley town of Los Altos Hills has sat on the market for nearly four years and is now priced at $39,998,000 — less than half of what it was originally priced.
The original number made it "one of the most expensive properties ever to be publicly listed in the area," the property's then-listing agent Michael Dreyfus of Sotheby's International Realty told The Wall Street Journal in December 2015. It's important to note, however, that homes in the area have changed hands privately for more.
The home is owned by tech entrepreneur Kumar Malavalli, founder of Brocade Communications Systems and a partner at venture capital firm VKRM. The $40 million compound includes two structures: a 20,400-square-foot main house and a 1,024-square-foot "executive center."
Take a look inside the sprawling Silicon Valley mansion.
Hidden in the Silicon Valley enclave of Los Altos Hills, California, lies a huge, eight-acre estate.
Bernard AndreIt's large, relatively new, brimming with opulent amenities — and yet, it has gone years without a buyer.
Bernard AndreIts location may be one of its best features — the mansion sits minutes from Facebook, Google, and other tech giants' headquarters.
Bernard AndreSome of the guest bedrooms open to the estate grounds. The main house has five bedrooms in total.
Bernard AndreThe master bedroom is huge, with a built-in modern fireplace.
Bernard AndreThe double-height living room features a sculptural hanging light.
Bernard AndreThere's space to store 4,000 bottles of wine ...
Bernard Andre... a 15-seat movie theater ...
Bernard Andre... an indoor pool and hot tub with a retractable roof ...
Bernard Andre... with an accompanying billiards table ...
Bernard Andre... and the kitchen is a modern masterpiece with clean lines and a bright, airy open feel.
Bernard AndreA 1,024-square-foot "executive center" can also be found on the property.
Bernard AndreIt was built to be the perfect place to conduct business and work from home.
Bernard AndreIt even has its own kitchen.
Bernard AndrePublic records show that the home was last sold in 2004 for $4.5 million.
Bernard Andre
Source: Zillow
It was remodeled in 2010 and listed for sale in March 2016 for an eye-popping $88 million.
Bernard Andre
Source: Zillow
The listing was removed from the public market in April 2016, just days after first being listed.
Bernard Andre
Source: Zillow
But it was relisted in 2017 for $68 million. It took another price cut in May 2018 when it was listed for $55 million.
Bernard Andre
Then another $5 million price cut in September 2018 and another $10 million chop in October 2019 to its current asking price of $39,998,000.
Bernard Andre
Source: Zillow
Perhaps the year 2020 will bring the home some good luck.
Bernard Andre
Source: Zillow
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