891 Crystal Springs Drive

The resale of the 47.5-acre Silicon Valley estate at 891 Crystal Springs Road in Hillsborough, which Elon Musk purchased for $23.364 million in June of 2017 and returned to the market priced at $35 million last year, has closed escrow with a contract price of $30 million having been reduced to $31.99 million this past October (which wasn’t the actual sale price despite a flurry of misreports last month).

Keep in mind that the classic 16,000-square-foot mansion at the center of the estate was significantly renovated and upgraded between sales, including a new “5-star kitchen” with space for a personal chef, a new hydraulically-driven wall between the home’s dining room and music room that disappears at the touch of a button, direct fiber optic cabling, and a new high-end security system across the estate, naturally.

And while not emphasized in the latest set of marketing materials, keep in mind that the estate is large enough to be subdivided into at least eleven, plan-conforming parcels.

We’ll keep you posted and plugged-in.

Comments from Plugged-In Readers

  1. Posted by Notcom

    Keep in mind that the classic 16,000-square-foot mansion at the center of the estate was significantly renovated and upgraded between sales

    Is Musk still able to update the house…remotely ?? 🙂

    • Posted by inthemarket

      Why not? it is not like Elon is tiling the backsplash himself.

      • Posted by Brahma (incensed renter)

        inthemarket: I guess you didn’t get it. Notcom was making a joke, alluding to the fact that the auto company that Elon Musk is the CEO of delivers significant changes to their vehicle’s feature set “remotely” via software updates, even after the vehicle is sold.

  2. Posted by Panhandle Pro

    Is it me or does this seem cheap for 48 acres of hilltop estate in Hillsborough? I would have thought 50M+

    • Posted by David B

      Yeah but it has a very musky smell.

    • Posted by DAA

      As a development opportunity it does seem pretty cheap. A previous owner floated a $100M price tag, not sure if the will to develop just dried up or if there’s something else at play (city politics? litigious neighbors? old caretaker pretending to be a ghost?). As a mansion with a massive yard, however, I guess it seems about right?

    • Posted by soccermom

      Agree. It seems really cheap.

    • Posted by No income taxes elsewhere

      Maybe someone trying to remove California’s claim on his income taxes as humanly fast as possible and a faster home sale, short $10M is chump change for a guy worth $260 billion?

  3. Posted by Jim

    These tech folks indeed are come and go. The de Guigne family lived there 99 years.

  4. Posted by BobN

    World’s largest work triangle…

  5. Posted by Amanda Reckonwith

    I too agree about the low sale price. It’s my understanding that this property, and “Strawberry Hill”, at the end of Reddington Road (also on about 50 acres) are the last big estates in Hillsborough that have not been sub-divided. When Christian deGuigne IV first attempted to sell the place, he was asking $100 million, and for the right to still live in the house! There was chatter at that time that preliminary plans had been drafted to maintain the house and 5 acres and then sub-divide the remaining 43 acres.

    [Editor’s Note: As we reported at the time.]

  6. Posted by Rob B.

    Steep terrain on much of the parcel makes for difficult construction, and over developing the area around the mansion would probably be avoided by most owners for fear of creating a “Carolands” situation, where a big chateau sits incongruously amidst a neighborhood of ranch-style homes, built on subdivided estate parcels.

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