Real Estate News

Check out this coastal Northern California home going for $24.5 million

A high-end compound at a unique location overlooking the Pacific Ocean is on the market for $24.5 million.

The estate, located near the town of Pescadero and close to Santa Cruz, San Francisco, Silicon Valley, Pebble Beach and a couple California state park,s sits on 50 acres off Highway 1.

The house is constructed out of timber and stone and spans 13,000 square feet. It has seven bedrooms, nine bathrooms, a media room, wine room, gym and game room. A 3,000 square foot deck overlooks the ocean. There’s a barn with two stalls, caregiver apartment and 7,000 square foot sports court.

The area around the house is primarily known for agriculture. The listing agent is Dana Cappiello of Sotheby’s International Realty. In the home’s listing, Cappiello boasts of the microclimate of the property as well as the home itself: “A vineyard feasibility report noted that the site ... experiences many days of sunshine when the rest of the coast is shrouded in fog.”

The seller is Mel Connet, a Silicon Valley headhunter, according to The Wall Street Journal. He bought the land from technology entrepreneur Brian Hinman in 2005 for $1.3 million, according to the Wall Street Journal, and spent a decade gaining project approval from the California Coastal Commission. He oversaw construction and moved into the estate in 2014.

Other homeowners in the area include former hedge fund manager Tom Steyer, who owns a cattle ranch in Pescadero.

David Caraccio: 916-321-1125, @DavidCaraccio