Silicon Valley boasts most expensive home sold in 2011
Located about an hour's drive south of San Francisco, Silicon Valley is home to some of the most influential tech companies in the world and apparently some of the priciest real estate in the country. Anyone searching for luxurious homes for sale in the Bay Area may want to head that way, because the Huffington Post reports the most expensive home sold in 2011 is located in Silicon Valley.
The property is owned by Yuri Milner, a Russian internet investor who Forbes explains accumulated his billions with holdings in social networking sites like Facebook and Twitter as well as websites like Groupon, Spotify and Chinese online retailers. The Huffington Post says the Loire Chateau in Palo Alto was bought as a vacation home and has approximately 25,000 square feet, and includes a grand ballroom, theater, spa and wine cellar.
The home was purchased for $100 million in March of 2011 and The Wall Street Journal states there have been few real estate deals that compare with one of this magnitude. The Wall Street Journal also said that this was the most paid for a single-family home in the United States ever.