Silicon Valley

$100 Million for a Second Home in California? A Russian Billionaire Just Bought One!

Filed under: Estates

Yuri Milner $70 million home in Silicon Valley California

The Russian billionaire, Yuri Milner, has paid $100 million for a second home in California's Silicon Valley, in Los Altos Hills. According to the Wall Street Journal's Market Watch, March 30th, it is the highest known amount paid for a home in the United States.

This home is 25,500 square feet of living area, and was inspired by 18th-century French chateaux (see above). It has 25,000+ square feet of living space with five bedrooms, nine bathrooms, a central entry court, ballroom, home theater, wine cellar, spa/gym, a tennis court, car wash, swimming pool and formal gardens. The living areas are all located on the second floor to take advantage of the dramatic San Francisco Bay Bay view. It was designed by the prestigious Hablinski + Manion Architectural & Planning Group.

Mr. Milner's primary residence is in Moscow, where he lives with his wife and two daughters, but he is a frequent visitor to the high-tech enclave in northern California.

The 47-year-old Internet tycoon appeared on the cover of the most recent issue of Forbes magazine and has invested heavily in Facebook, Zynga and Groupon through his investment firm DST Global. His company is said to control about 10 percent, or $5 billion worth, of Facebook's shares. He also has had positive dealings with the Russian online company Mail.ru.

The home was bought from another tycoon, Fred Chan, founder of ESS Technology, who has reportedly decided to live in Hawaii after building the Silicon Valley mansion.

Mr Milner reportedly made the transaction through a limited liability company called La Paloma Property. After years of relative market flatness, this sale has been seen as a sign that the market in high-end properties on the West Coast are becoming more, well, effervescent.

Gallery: $100 Million Home in Silicon Valley

Tags: California, DST Global, ESS Technology, Fred Chan, Hablinski + Manion Architects, luxury homes, luxury homes Los Altos, second homes market in California, Silicon Valley, Yuri Milner, Yuri Milner Forbes Magazine

The Fashion Statement: What are These Guys Doing in Fashion?

by Kristin Young (RSS feed) —

Filed under: Apparel, Men's Style, The Fashion Statement

What is the "Fashion Capital of the World," you ask? Paris? New York? Mayor Bloomberg is leaving nothing up to chance.

This week, the New York Mayor (pictured above with Diane von Furstenberg) announced six initiatives to give the $55 billion industry a boost. After a yearlong look study, the city is starting an NYC Fashion Fund to help emerging designers get capital and support services. Another initiative, Project Pop-up, will be an annual competition to promote and foster new and unique retail concepts. The New York City Fashion Draft will recruit fashion students to get into fashion management. Fashion Campus NYC will offer business seminars to summer interns led by industry executives. New York City Fashion Fellows will honor 30 rising stars in fashion business (the business side of the business often gets overshadowed by the creative side in award ceremonies). Finally, there will be a Designer as Entrepreneur program that will help emerging designers with the business side of things by teaching them how to draft business plans, their financial management and how to participate in e-commerce.

Whew! It's a lot to take in. We can only hope it helps New York's Garment District that has been decimated by production going overseas.

Tags: Bloomberg, Chad Hurley, ForbesMagazine, Garment District, Hlaska, New York City, Silicon Valley, YouTube

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Domain Hotel, A New Spot for Silicon Valley Business Travelers

by Deidre Woollard (RSS feed) —

Filed under: Luxury Travel & Hotels

Joie de Vivre Hospitality, the luxury hotel chain that is for the most part centered in Northern California has added another hotel to their list. The Domain Hotel in Sunnyvale, California is in the home of the former Radisson and caters to business travelers in the Silicon Valley. Joie de Vivre has given the hotel a makeover and it now has 124 rooms and 12 suites on three levels decorated in two themes -- Tranquility and Awakening. Guests are offered a choice of the two. The Awakening rooms have a green color scheme with natural accents including sprigs of lemongrass. The Tranquility rooms are done in blue hues with a lavender scent. All rooms feature flat-panel HD televisions that double as 32-inch computer monitors, Lather bath products, sleep number beds, complimentary wired and wireless hi-speed Internet access, iPod docking stations and streamlined workspaces. The hotel offers a complimentary nightly wine-down hour featuring local-vineyard California wines, daily shuttle service to/from local corporate offices, a business center, a complimentary hot breakfast and at check-in, a choice of either relaxing or energizing choice of sachet or herbally-infused cookie. Rates start at $119.

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Tags: business travel, domain hotel, DomainHotel, silicon valley, sunnyvale

Monte Sereno Estate, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates

This lovely home is located in Monte Sereno, a small Northern California community between Saratoga and the Los Gatos. The beautiful villa has six bedrooms spread out over 10,000 square feet of space. It has an impressive 6,000-bottle wine cellar, library, media room, music room, gym with a steam room and sauna and a pool area with a columned pool house that is truly breathtaking. This is said to be one of the finest estates in the Silicon Valley area and it is easy to see why. Take the virtual tour to get the full measure of this stunning home. It is listed at $19 million. Interior shots and a few views of that inviting pool after the jump.

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Tags: estate of the day, los gatos, luxury real estate, monte sereno, MonteSereno, silicon valley

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