Bay Area Mansion at Auction, Cut From List Price
Dec. 28 (Bloomberg) –- A 15,000-square-foot mansion on Belvedere Island, an enclave north of San Francisco, will be put up for auction on Dec. 30 after the builder couldn’t find a buyer for the waterfront home he listed in January for $45 million. The starting bid is set at $25 million.
Technology executives paying discounts to listed prices have been active buyers of luxury properties this year in the San Francisco Bay area, where the growth of social-media and Internet firms has created a new wave of millionaires. (Source: Bloomberg)