Russian tech titan breaks U.S. records with $100M mansion buy in Los Altos Hills, CA
The Yuri Milner (Digital Sky Technologies) purchase of the house owned by Fred Chan (ESS Technology) has set a record. Yuri Milner’s price of $100 million is the highest amount ever paid for a single family residence in the U.S..
Of note, Ron Baron paid $103 million for a residence in East Hampton, N.Y., but that was 40 acres of vacant land with no single family residence on the property. The Fred Chan house is located in Los Altos Hills near Silicon Valley. It boasts 25,500 square feet, 5 bedroom and 9 baths, with indoor and outdoor pools, tennis courts, spa, gym, ballroom, wine cellar and car wash. It sits on 11 acres.
Who were the sellers and buyers? Chan founded ESS Technology which makes audio and video equipment. The Chans will carry at $50 million note on the house. The house was reportedly not publicly listed for sale. In addition to this home, the Chans are trying to also sell a 5.4 acre mansion on Oahu for $80 million.
Yuri Milner’s Digital Sky Technologies is an international investment firm focused solely on the private Internet sector. Its Silicon Valley investments includes investing $200 million in Facebook, $180 million in Zygna, $135 million in Groupon, among others.
