Speaking of big reductions, as we outlined in September of last year:
Having hit the market with a bit of fanfare and an $88 million price tag back in 2015, the 21,400-square-foot Los Altos Hills home at 27500 La Vida Real was quietly listed behind an undisclosed address for $68 million [in 2017] and subsequently reduced to $55 million [in the second quarter of 2018].
Built for Kumar Malavalli, the co-founder of Brocade Communications Systems and current VC, features of the five-bedroom home include a 3,000-bottle wine “cellar” adjacent to the main dining room and an indoor swimming pool with a retractable roof, spa and swim-up bar.
There’s a freestanding 1,024-square-foot executive center with a conference room and kitchenette, not to mention a six-car garage and 12 outdoor fire pits sprinkled across the eight-acre estate.
Despite the original $88 million price tag having “reflect[ed] the cost of construction and the price of land,” at least according to the listing agent back in 2015, the list price for 27500 La Vida Real was further reduced to $49.99 million twelve months ago.
And this morning, the list price for 27500 La Vida Real was abruptly reduced another $10 million to $39.998 million, which is now $48 million or roughly 55 percent below the home’s original list price.