Billionaire tech investor Marc Andreessen, the renowned co-founder of Netscape and venture-capital firm Andreessen Horowitz, alongside his wife, Laura Arrillaga-Andreessen, are bidding farewell to their long-held residence in Atherton, California.
Their Atherton estate, boasting a sprawling 12,200-square-foot main residence complemented by a guesthouse, an office and a studio, is hitting the market with a staggering price tag of $33.37 million, according to the Wall Street Journal.
The couple is now set to embark on a new chapter, relocating to Southern California after amassing an impressive property portfolio in Malibu totaling more than $250 million.
Originally acquired for approximately $16.6 million back in 2007, the property has undergone significant renovations over the years.
Mary Gullixson of Compass, who is spearheading the property’s marketing alongside her son and business partner, Brent Gullixson, remained tight-lipped about the motivations behind the Andreessens’ decision to sell, telling The Journal the couple have declined to comment.
Constructed in the 1990s by custom home builder Colin Whiteside, the residence exudes opulence and sophistication.
Boasting five bedrooms, an office, a den and seven fireplaces, the estate offers a luxurious retreat for discerning homeowners.
The meticulously landscaped grounds feature manicured lawns, a covered terrace, a pergola, as well as fountains and a reflecting pool.
Situated opposite the historic Menlo Circus Club, a revered social and recreational establishment dating back to the 1920s, the property enjoys an esteemed locale.
The Andreessens have redirected their focus towards the coastal haven of Malibu, indulging in a flurry of acquisitions totaling $255.5 million.
From a lavish 7-acre estate in Paradise Cove acquired for $177 million to a property on Escondido Beach purchased for $44.5 million, their investment ventures have garnered significant attention. The acquisition spree culminated with the purchase of a beachfront residence adjacent to their Paradise Cove compound, secured for a cool $34 million.
Notably, Andreessen’s legacy extends beyond his entrepreneurial endeavors, with his co-founding of Netscape leading to its acquisition by AOL for a staggering $4.2 billion in the 1990s.
In 2009, he co-established Andreessen Horowitz, a prominent venture-capital firm backing tech behemoths like Facebook, Coinbase and Slack. Meanwhile, Arrillaga-Andreessen occupies a faculty position at Stanford Graduate School of Business.
The Andreessens’ departure from Atherton, one of the wealthiest towns in the US with great influence within Silicon Valley, marks a notable shift.
The enclave, which includes residents such as former Google CEO Eric Schmidt, recently witnessed a record-setting $40 million sale in October.
Despite a slight dip in median home sale prices, down 46% from February 2022 according to Redfin, the luxury market remains fiercely competitive, with Mary Gullixson telling the Journal, “Recently we have seen multiple offers on homes listed for over $20 million, which shows the competitive nature of the luxury market.”
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