Built on a 1.7-acre Atherton lot which was purchased for $7.8 million in 2000, the “European inspired estate” at 1 Faxon Road, across from the prestigious Menlo Circus Club, quietly hit the market in 2013 asking $25 million.

Reduced to $22 million in 2014 and then to $20.7 million last year, the sale of the nearly 13,000-square-foot home has just closed escrow with a contract price of $16.5 million or roughly $1,285 per listed square foot “in the most sought-after community in all of Silicon Valley.”

The seller was imprisoned hedge fund manager Doug Whitman, the founder of Whitman Capital who was convicted of two counts of insider trading in 2012, sentenced to two years in prison in 2013 and started serving his sentence at the end of 2014.

Whitman, who has been trying to void his conviction, is eligible for release as of tomorrow, May 29.

Comments from Plugged-In Readers

  1. Posted by Jlps

    A home, person and story that is so disgusting on so many levels that I’m shocked anyone would write about it or give it any attention. What’s the story’s point? That some wealthy, thoughtless and self consumed person made even more money for being able to buy land and sell something tacky? Great editorial work.

    • Posted by Oh Dear

      Perhaps you should avert your eyes. Because you do not wish to see something should not impact someone’s rights to publish. I believe that is protected somewhere in that document we call the Constitution.

      • Posted by eastbay

        If you think SS is anything near a first amendment medium with its habit of deleting comments they don’t like, than I have a hedge fund to sell you.

        [Editor’s Note: If by a “habit” you mean fewer than 1 percent of comments and by “don’t like” you mean off-topic rants; racist, sexist or hateful remarks; or obvious spam or trolling, then you are correct. But we’ve never moderated a comment with which we simply disagreed.]

    • Posted by Patrick

      The point is that it is high-end real estate in the Bay Area that sold for a lot less than the asking price, which is the sort of thing that Socketsite covers. What’s your point?

  2. Posted by BobN

    The outside is beautiful, very well done. There’s something off about the inside, but I can’t figure out what.

    • Posted by ess

      It’s sterile, like a stage set. It looks like it could be used in a TV reboot of “The Game”

      • Posted by Brian M

        I could see The Donald sliding down that bannister

    • Posted by roberto

      Here is my take on what is wrong. It’s 2016 and the interior has the aire of old-fashionedness.

      When I walk into something like that, it tells me the owner is looking back, not forward; conservative, not a risk taker; an old fuddy-duddy, not avant-garde.

      Architecture and design makes a statement. And it shows here.

      • Posted by BobN

        It would be really weird to build that exterior and go modern inside. What’s wrong inside is that it’s not “fuddy-duddy” enough, not traditional enough. The ceilings are the problem, I think.

        There’s nothing wrong with looking back if you’re looking back at fine architecture.

  3. Posted by Sethgreen21

    Apparently not all that highly sought after…

  4. Posted by Gnar

    It’s quite a shame we haven’t sent more of them to prison.

  5. Posted by Louis

    Comments on SS are way off base.

  6. The guy did a bad thing, served his time and that should be the end of it.

  7. Posted by jlasf

    Standard issue from any of the “Real Housewives” shows.

  8. Posted by dwf

    Was driving in that ‘hood a few weeks ago, great properties. Not recommended though if you’re high on the envy scale but low on the bank balance.

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