Palo Alto's real estate market could shatter a new record with a house whose price tag is $66.8 million more than the most expensive home sale recorded in city history.
Tech entrepreneur Scott McNealy, who co-founded Sun Microsystems in 1982, has listed his 32,000-square-foot Palo Alto Hills home on REX Real Estate Exchange's website for $96.8 million -- or $3,025 a square foot -- the Wall Street Journal reported on June 21. REX is a real estate startup based in Woodland Hills, in which McNealy is an investor and board member.
Located on 13.35 acres off Los Trancos Road, McNealy's four-story home is reportedly the most expensive Bay Area home publicly listed on the market in the last decade, according to the Silicon Valley Business Journal.
The 20-room home includes a pizza room, a poker room, a spa with a sauna and massage table, a disco, a full gym with a climbing wall; an indoor basketball court, a wine cellar, a billiards room, a theater and a 110 yard golf practice area with two putting greens. There's also a 7,000-square-foot multi-purpose indoor ice rink/tennis court with its own locker room. And for overnight visitors, there's a one-bedroom detached guest house.
McNealy and his wife, Susan, have lived on the property with their four sons for the past decade.
According to the Business Journal, the couple spent almost $11 million on the two lots that the estate sits on. Construction of the house, including a two-year process to secure the permits, took seven years and was completed in 2008.
The home made local headlines in 2010 when neighbors complained about a gold dome McNealy built to enclose the property's ice rink where he liked to play with his sons. They said the sound of hockey pucks hitting the walls were loud and the dome reflected too much sunlight.
"We have four boys. ... I plead guilty they are kind of noisy. They have buddies over and they do noisy things that boys do," McNealy explained to the Palo Alto City Council. He later replaced the dome with a sound-proof roof that was more visually pleasing.
McNealy told the Wall Street Journal that he and Susan decided to sell their Palo Alto home because they will soon be empty nesters.
According to the Santa Clara County assessor's office, the home was assessed at $16,564,337 in June 2017.
If the home sells for its asking price, it will become the most expensive home publicly listed on the market in Palo Alto. In June 2017, a 7,550-square-foot Professorville home on Cowper Street sold for a record-breaking $30 million.