Tech Billionaire’s $30M Estate Sells | San Jose News

A $30 million luxury estate in Los Altos Hills—complete with eight acres, a private vineyard, multiple kitchens, a 15-seat theater, and an indoor pool—just sold for less than its original $37 million asking price. The Malavalli family, tech pioneers including a Brocade co-founder, previously tried to sell it for $88 million in 2015 and $68 million in 2017. The buyer, a Hong Kong-based firm registered in the British Virgin Islands, financed the deal with a $21 million loan from JPMorgan. Real estate insiders see this as a sign of a potential luxury housing rebound in the South Bay, fueled by upcoming tech IPOs and the influx of new millionaires ready to invest. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/75c19043f93d7a4d