LUXURY HOMES UPDATE. February 2010
The buyer of the home was Pont Street LLC. According to state records, its registered agent is a wealth manager with the Menlo Park branch of Harris Bank.
The seller is the Ronaghi Group LLC, which, along with Kordestani Group LLC, purchased the 55-year-old, six-bedroom, four-bath home on the property for $4.2 million on May 6, 2008. It has since been torn down, and work is in progress on a new and improved manse.
If whoever moves in ever runs out of sugar, he or she might get a cup from Google billionaire Omid Kordestani, who lives next door. The Web giant’s sales chief until April, he paid $37 million in 2004 and 2006 for two almost adjacent parcels. According to Google Maps, both are less than a three-minute walk away.
Terry and Katrina Garnett sold their 11,000-square-foot, French manor-style home in the Bowie Estates subdivision of Hillsborough on Jan. 13 for $8 million.
Terry Garnett is an Oracle marketing executive turned venture capitalist. Most notable was his work at Venrock Associates, where one of his investments, CrossWorlds software, featured Katrina Garnett as CEO. A self-described “well-known Silicon Valley CEO, software developer (and) Forbes and Fortune celebrity,” she now runs My Little Swans, a travel Web site aimed at families.
Investment manager Richard Magnuson bought the home. Once an executive with real estate firm CB Richard Ellis, he is managing director of Global Innovation Partners, a private equity firm based in Menlo Park.
Cashin Co.’s Pierre Buljan was the listing agent for the sale of the five-bedroom, 5.5-bath property, designed by Bay Area architect Farro Essalat and “clad in French limestone excavated from a single quarry.” The estate was listed as high as $13.8 million in May 2006. sfgate.com
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