Two side-by-side properties on Atherton Avenue that were part of the estate of Golden State Warriors owner Joseph Lacob sold for a total of $41 million on May 26, according to data from real estate database Multiple Listing Service.
The two separate transactions were among five Atherton properties that sold for between $11.75 million and $21 million during the last week of May, according to recorded sales transactions from MLS made public on June 26.
One of the estate's lots, a 1.03-acre parcel with a 3,691-square-foot home, according to Zillow, and blue-and-gold half-court with the NBA basketball team's logo emblazoned on it, was sold to A & E Venture Partners LLC for $20 million.
The 1.03-acre parcel that was part of the estate of Golden State Warriors owner Joe Lacob includes a blue-and-gold basketball court. Image courtesy Google Maps.
The estate's other 1.1-acre parcel was sold to Lip-Bu Trust for $21 million and includes a 10,355-square-foot custom-built Italian-style villa with stucco walls, a red-tiled roof, archways and fountains. There's also a temperature-controlled wine room, movie theater, walnut-paneled library, an outdoor pool and spa, and a dining pavilion with a fireplace and full kitchen surrounded by heritage olive trees, according to the property description from Compass real agents Mary and Brent Gullixson, who handled the sales transactions for both parcels.
The villa was built by developer Rafi Bamdad, known for meticulously designing elaborate spec homes in the area with price tags as high as $110 million.
His homes have included features such as six hand-carved French limestone fireplaces, a whiskey bar, an 11-seat theater, a 3,000-bottle wine cellar and elevators. For at least one project, he imported 150-year-old olive trees and more than 250 rose bushes.
Bambad reportedly sold the Atherton Avenue villa to Lacob for $15.2 million in 2007. Lacob recently purchased another newly built Italian-style villa on 3.3 acres in Woodside from Bambad for $40 million, according to The Real Deal, which reported on the transaction in February. The home was initially listed for $110 million.