Schmidt and his wife, Wendy Schmidt, bought the home in 1990 for $2 million and gradually expanded the estate over about 20 years, adding neighboring parcels, a guest house and a green house.
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Former Google CEO Eric Schmidt has sold his home in Silicon Valley for $22.5 million, Realtor.com reported.
The home is located in the wealthy town of Atherton, just west of Menlo Park and Palo Alto. Schmidt and his wife, philanthropist and businesswoman Wendy Schmidt, listed the property for $24.5 million in April.
The buyer’s identity is not yet known.
Kat Carroll of The reSolve Group at Compass represented the sellers, and Mary and Brent Gullixson of The Gullixson Team at Compass represented the buyer.
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The Schmidts first bought the main house for $2 million in 1990 and gradually expanded the estate over about 20 years, according to PropertyShark records. As they added neighboring parcels of land, the couple eventually acquired about three acres and expanded the main house, added a guest house, and a greenhouse imported from the U.K., according to Mansion Global.
An aerial view of the property | The Agency
Atherton is one of the priciest places in the U.S., and home prices have skyrocketed in recent months. The median listing price surged 47.6 percent year over year to $13.9 million in May, according to Realtor.com.
The home was first constructed in 1969, and today spans 5,265 square feet. It includes five bedrooms, five full baths and six half baths. Attractive design elements included beamed ceilings, lots of natural light and fireplaces. The home also features several private terraces, including off of three different bedrooms.
The grounds include a patio with pool and spa, an entertaining pavilion and an outdoor fireplace. A garden of raised beds and fruit trees surrounds the green house.
A living area with fireplace | The Agency
Carroll previously told Mansion Global when the property first listed that an estate of its scale with so much land and privacy was a rare find in Atherton.
“The location of this residence is ultra-private, at the back of a cul-de-sac with the main house built into a hillside that provides privacy and very good security,” she said.
The lush grounds also provide an oasis-like atmosphere, Carroll added.
The property’s green house | The Agency
“From the moment you step onto the grounds, it feels as if you’ve been transported to a private botanical sanctuary.”
Schmidt was the CEO of Google from 2001 to 2011. After that, he served as executive chairman until 2015. Schmidt is also a founding partner of venture capital firm Innovation Endeavors.
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