Tech billionaire Scott McNealy, co-founder of Sun Microsystems, has sold his luxury Bay Area mansion for nearly $62 million below its original asking price.
McNealy first listed his Portola Valley estate for sale more than six years ago. At the time, the property had an asking price of nearly $100 million. The tech billionaire failed to find a buyer until July 18 of this year. The property, however, sold for only $35 million, nearly 65% below the original asking price.
The deal was filed on July 18 with the San Mateo Assessor-County Clerk-Recorder's office. The buyer listed was Zenith Path LLC, as first reported by The Real Deal, citing public records.
The outlet also noted that documents filed with the California Secretary of State showed that Zenith Path LLC shared a business address with Youhe Invest, a multi-family business based in New York dedicated to serving "ultra-high net worth entrepreneurs and families" with cross-border investments, according to the company's website.
The McNealy's Mansion
Scott and his wife, Susan, spent more than $11 million building their Portola Valley mansion in 2008. The property sits on a 13-acre plot and features five bedrooms and seven-and-a-half baths. Some of the property's unique amenities include an ice rink, a golf course, home theater, poker room, a party room with a disco ball, and a hidden bunker with panic buttons. There is also a separate 4,000-square-foot guest house, per SFGate.
The couple again remodeled the property in 2019 when they struggled to find a buyer despite cutting the listing price in half. The remodel included replacing the mansion's dark furnishings with lighter pieces.
"A lot of heart went into building this home. It was built from love," Deepee Chattha of Rex Homes, the listing agent at the time, said. "Family is very important to the McNealys. Life for them has been about their boys. They built everything for them. They had lots of sleepovers. Friends and family would come together. This was the hub for everyone. They have this grand family room and living space where everyone is always hanging out. You see it when you walk in. They cook, they hang out. You can feel that in the space. It's a family house."
The latest listing was held by agent Stanley Lo.
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