ATHERTON — A mysterious buyer has bought a sprawling park-like estate and a Silicon Valley mansion from the previous Google CEO for greater than $20 million – however the deal was accomplished for lower than the asking price.
The latest owner of the Walsh Estate in Atherton paid $22.5 million for the property, based on documents filed June 14 with the San Mateo County Registry of Deeds.
County land records show that trusts controlled by former Google CEO Eric Schmidt and his wife Cindy Schmidt, in addition to a subsidiary called Big Hen Group I, sold the 3-acre property.
An entity called Olowalu, which shares the identical name as a coastal district in a distant area of western Maui, purchased the property, public documents show.
Olowalu bought the Walsh Estate in money.
The sales group led by the Schmidts had offered the Walsh Estate for $24.5 million.
This means the property sold for $2 million below asking price, or 8.1 percent lower than the worth the sellers asked for when listing the property.
Eric Schmidt, 69, was CEO of Google from 2001 to 2011. Schmidt also served as executive chairman of Google from 2011 to 2015. From 2015 to 2017, he served as executive vice chairman of Google owner Alphabet. From 2017 to 2020, Schmidt served as technical advisor to Alphabet.
“Walsh Estate has been carefully considered and thoughtfully designed to create a canvas of natural privacy and tranquillity,” says an internet site for real estate brokerage The Resolve Group.
The property features a mansion, a guest house, a greenhouse and extensive grounds.
“It offers a tremendous opportunity to redefine what a heritage property can be,” the Resolve Group’s listing said of the Walsh Estate.
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