With an asking price of $100 million, a luxury Mediterranean-style California home can be yours today, but you’ll have to wait until the owner dies before you can move in. Christian de Guigne IV is putting has put his 16,000 square-foot home in Hillsborough, Calif., on the market as part of his estate planning, the Contra Costa Times reported.
Born in the lavish mansion that was built by his grandfather--who ammassed his fortune working in the chemical business--de Guigne, who is now 76, has lived his entire life on the 47.5 acre property, and doesn’t intend to vacate it now, buyer or no buyer.
“That's the way all property used to trade up until the 20th century,” Gregg Lynn, a real estate agent at Southeby’s told the Times.
The high-end home market has been on fire over the past couple of years, and Lynn expressed confidence that his client would be able to find a buyer with the patience to wait out de Guigne’s final days.
“I think the specialness here is the sheer size,” Lynn added. “To have 47.5 acres 20 miles from San Francisco and 5 miles from (San Francisco International Airport) is something that's incredibly rare.”
Once unthinkable, $100 million sale prices have become practically commonplace over the past couple of years as the tech boom shows no signs of abating.
In November, investor Tully M. Friedman's estate in nearby Woodside sold for an astonishing $117.5 million, and Russian venture capitalist Yuri Milner paid $100 million in 2011 for a mansion in Los Altos Hills.
Even with de Guigne’s death stipulation, the home is sure to attract numerous bids, in part because of the property’s impressive amenities.
“Grand-scale ballroom, living room, library and pavilion are aligned to open to a pool courtyard, revealing sweeping views of San Francisco & the East Bay,” a description of the home says on Sotheby’s website. “Formal gardens & park-like grounds adjoin dozens of undeveloped acres surrounding the mansion, providing ultimate privacy & security.”
Still, after forking over $100 million, waiting around for de Guigne to kick the bucket won’t be easy.
“It has to be someone interested in the long term,” Lynn said. “You must wait for the big acreage.”
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