1935 Webster Living

According to the MLS, the sale of the Old Palo Alto home at 1935 Webster has closed escrow with a reported contract price of $10 million. As we wrote when the home hit the market two months ago:

A 3,000 square-foot fixer on a large Palo Alto lot raised a few eyebrows when it was listed for $6.5 million and sold for five million early last year. And with the home having since been rebuilt as a 6,000 square-foot “Napa Style” ranch house for which they’re now asking $10 million, those eyebrows are about to be raised even more.

While $1,667 per square foot at asking might not seem like too much of a stretch considering the home’s Old Palo Alto location and contemporary design, keep in mind that half of the new home’s square footage sits within the basement under the main level of the new home.

And while the old lot at 1935 Webster had measured around 16,600 square-feet, it has since been split in two, and only the half under the home is included in the $10M price tag.

Also according to the MLS, the listing agent represented the buyer as well.

Comments from Plugged-In Readers

  1. Posted by seth

    fishy no? listing agent represented the buyer as well? no conflict there…

    • Posted by Sierrajeff

      Happens often, and is fully legal with the property disclosures.

  2. Posted by SFrentier

    Serious chaa-ching!!!

  3. Posted by JF

    You mention a $10 million “reported” contract price. Reported by whom? The MLS shows that the sale price was “withheld” and the transfer tax amount is not shown on the deed. Anyone can “report” a contract price, but that would not make the report = fact.

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