A Silicon Valley tech titan’s 8-acre estate in Los Altos Hills, California, has just been relisted for $68 million. The massive mansion first hit the market in late 2015 for $88 million, and after languishing for more than one year, the listing price was dropped dramatically last week.
Situated in one of Silicon Valley's most exclusive residential communities, the property has a 20,400-square-foot, five-bedroom, seven-bathroom main residence and guest suites with their own patios and en-suite baths, according to the listing. The real unique feature is its freestanding office building: a roughly 1,024-square-foot executive center with a reception desk, kitchenette, and a conference room. "You don’t need to bring any work home. When you go home, it’s just home," said listing agent Michael Dreyfus of Dreyfus Sotheby’s International Realty.
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Kumar Malavalli, 74, was the co-founder of the data center and storage networking company Brocade Communications Systems. According to property records, Mr. Malavalli purchased two adjoining properties in 2004 and later built the estate.
"It took six years to build this place, which says a lot about its quality," Mr. Dreyfus said.
It won’t be easy to build such an expansive home in prime locations of Silicon Valley anymore. According to Mr. Dreyfus, there are not many large land parcels left in the area, and it’s getting harder to get construction and joint-parcel permissions in many communities, which makes this estate "very difficult to duplicate."
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The Silicon Valley compound isn’t just for business; it’s also a place built to entertain. The home includes an indoor pool that has a swim-up bar, a retractable roof that automatically closes when it starts to rain, a home theater, and a wine cellar that holds 3,000 bottles. It also features a bell tower with an area that can be used as a stage, various sculptures and gardens, a meditation garden and a private massage room and sauna.
"The family travels a lot in recent years, and doesn't entertain as much as they used to," Mr. Dreyfus said. "They are ready to downsize to a smaller place."