The founders of The Gap clothing chain, the Fisher family of San Francisco, is selling their summer retreat in Atherton, California, for $100 million, a property that spans eight acres.
If the estate sales at that price, it will set the record for the most expensive home ever sold in the exclusive Bay Area town, which happens to be the most expensive ZIP code in the United States — 94027.
The eight-acre retreat is the ninth largest residence in Atherton, according to Compass real estate firm, which holds the listing. The summer home’s expansive grounds have been transformed over nearly 50 years into a world-class sculpture garden to showcase the family’s renown sculpture collection, according to the company.
“This listing is the largest real estate offering since 2011 when a 12-acre property on Atherton Avenue sold,” Mary Gullixson of Compass, the listing agent, said in a statement. “Properties like these are generational opportunities to own in the most desirable location of the Bay Area. The Atherton Estate was created over decades by the owner.”
The property consists of three contiguous parcels on eight level acres with four gated entrances in a private setting behind a towering double row of hedges. There are two homes with the extraordinary garden area.
The elegant, five-bedroom, four-bath main home, 170 Atherton Ave., , sits on about four acres. That residence has a pool and pool house and a tennis court.
The secondary home, 178 Atherton Ave., sits on about two acres. It has a detached one-bedroom, one-bath guest house.
The gardens, at 154 Atherton Ave., also sits on two acres, with walking paths throughout.
“The main home, as well as the secondary home, have served as treasured escapes for family gatherings as well as for magnificent entertaining,” according to the property listing. “The entire setting is understated elegance with interiors done by of-the-era acclaimed designer Michael Taylor. Surrounding it all is verdant landscape and majestic trees that stretch endlessly, intersected with paths for showcasing its current use as an art sculpture garden.”
Donald and Doris Fisher are founders of The Gap retail brand that revolutionized the fashion industry in the 1970s. In 1975, they purchased the summer retreat about 30 miles south of San Francisco and “adopted this tradition of decamping the city for the swimming pools and sunny, expansive lawns of Atherton,” according to a fact sheet on the property.
They bought the summer retreat for $211,000, according to the Wall Street Journal. The property grew over the years as the Fishers added adjoining land to the estate.
Don Fisher passed away in 2009.
The family’s influence is marked by generous philanthropic support of education and the arts.
Atherton is now one of Silicon Valley’s priciest towns. Residents include former Google CEO Eric Schmidt and venture capitalist Marc Andreessen, according to the Wall Street Journal.
“There is more new construction happening in Atherton than ever before, likely lessening the opportunity where an affluent individual can purchase two, three or four contiguous lots to a property they currently own,” Gullixson said.