Unknown buyer pays $25 million for empty Atherton lot
ATHERTON, Calif. - In one of the biggest real estate deal this year, an empty lot in Atherton last week was picked up by a mystery buyer for $25 million, according to the Real Deal.
The 2.5-acre lot at 75 Isabella Avenue sold for $25 million on May 4. The wooded land sits next to the esteemed Menlo School near Stanford University in the nation’s most expensive zip code.
The undisclosed buyer worked with realtor James Ma of Coldwell Banker Realty, listing records show.
Listed in April 2022 for $26.6 million, tax records show an entity of Mighty Winner Development bought the property in 2012 for $15 million.
With a median home price of $11 million so far in 2023, Atherton is by far the priciest spot to buy a home in the Bay Area, according to recent report by Compass. That's double second-place Hillsborough, where the median is $5.6 million.