ATHERTON — A mystery buyer has bought a vast park-like Silicon Valley estate and mansion from Google’s former top boss for more than $20 million — although the deal closed for less than the asking price.
The new owner of the Walsh Estate in Atherton paid $22.5 million for the property, according to documents filed on June 14 with the San Mateo County Recorder’s Office.
Trusts controlled by former Google chief executive officer Eric Schmidt and his wife Cindy Schmidt, as well as an affiliate operating as Big Hen Group I sold the three-acre property, the county real estate files show.
An entity called Olowalu, which bears the same name as a seaside district in a remote area of western Maui, bought the property, according to the public documents
Olowalu bought the Walsh Estate through an all-cash deal.
The selling group led by the Schmidts had listed the Walsh Estate for $24.5 million.
This means the property was sold for $2 million below the asking price, or an 8.1% reduction from what the sellers sought when they listed the estate.
Eric Schmidt, 69, was Google’s CEO from 2001 to 2011. Schmidt also was Google’s executive chairman from 2011 to 2015. From 2015 to 2017, he was executive vice chairman of Google owner Alphabet. From 2017 to 2020, Schmidt was Alphabet’s technical advisor.
“Walsh Estate was carefully considered and thoughtfully designed to create a canvas of natural privacy and serenity,” according to a website for the listing by The Resolve Group, a real estate brokerage.
The property includes a mansion, guest house, greenhouse and extensive grounds.
“It presents a tremendous opportunity to redefine what a legacy property can be,” The Resolve Group stated in its listing, referring to the Walsh Estate.