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The Montecito, California estate of late venture capitalist Frank J. Caufield sold for $32.25 million, The Wall Street Journal reported.
The property was on the market for two months before it sold, and had multiple offers within the first ten days, which is "pretty special," Eric Lavey, one of the real estate agents told Business Insider. The home was also listed with Dusty Baker of Sotheby's International Realty and Michael Dreyfus of Golden Gate Sotheby's International Realty. The buyer is unknown.
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The expensive property had 12 showings, which is also quite unusual in this price range where he wouldn't usually expect more than one showing in a month, Baker said.
"Any other year, this would probably have been the most expensive sale of the year in Montecito," he told WSJ, and attributed the high interest to San Francisco and Los Angeles residents fleeing to Montecito.
Frank Caufield is known for cofounding Kleiner Perkins Caufield & Byers, a venture capital company in Menlo Park, California that currently just goes by Kleiner Perkins. He also sat on the boards of AOL, Time Warner, and other companies during his career.
Caufield died in November 2019.
See inside the home here.
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The estate sits on 12 acres in Montecito.
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The main building is an 18,500 square foot villa originally built in the 1920s.
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The home was built in an Italian renaissance style.
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It went on the market in October, asking $39 million.
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Some of the original 1920s detail remain in the house...
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...including carved walnut wall panels in the library.
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Source: The Wall Street Journal
Original golden travertine floors were also preserved, according to WSJ.
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Arched limestone windows in the dining room were also preserved from the original architecture.
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Despite the classic details, the kitchen is open and modern.
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The house has nine bedrooms.
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Detailing like gold accents and French doors continue throughout bedrooms and sitting rooms.
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Wood paneling and wall paper also show up throughout.
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The large estate has three wine cellars.
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A solarium looks out onto the manicured property.
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The solarium is also home to one of two pools on the property. This one is 38 feet long.
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The other, larger pool is outside.
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The pool makes for a great view from various balconies inside.
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For other outdoor activities, the estate also has a tennis court.
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Outside the villa style is even more apparent.
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The estate's landscaping is inspired by Italian gardens.
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Most of the 12 acres are designed to continue the renaissance style of the villa.
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The massive space, along with manicured hedges and fencing almost look like a palace.
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The shrubs almost create the feeling of a sprawling maze.
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Outdoor furniture brings living spaces outdoors.
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Balconies and decks throughout the home also give the owners the chance to take in views.
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Landscapers maintain a green look with different types of plants and trees.
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The growth is so lush it's easy to forget that the estate is in Montecito.
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All the greenery makes the estate into a world of its own, separate from the rest of the wealthy neighborhood.
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