BrokerageIndustry News

Assessor: Mansion that sold for $100 million worth half that

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

A 25,500-square-foot Silicon Valley mansion that sold last year for $100 million is worth only half that much, according to the Santa Clara County assessor's office. The home's new owner, Russian venture capitalist Yuri Milner, can take solace in the fact that his $600,000 annual property tax bill will also be about half of what it would have been, had the home been assessed at its sale price. The French chateau-style estate, situated on 17 acres in Los Altos Hills, Calif., features 14 bathrooms, a ballroom, a formal dining room, a home theater, and a wine cellar. There's also an indoor pool, a library, a gym, staff quarters, a 4,600-square-foot guest house, and panoramic views of the San Francisco Bay.Source: Google MapsĀ  Sellers Fred and Annie Chan didn't put the property on the open market, and reportedly provided the financing for half of the sale to Milner, who heads up Digital Sky Technologies, a Moscow-based fund that's invested in Facebook, Groupon and Zynga. To det...