YouTube, Agassi, and the San Francisco Housing Bubble
In an interesting confluence of events, the hottest tech and business story (YouTube), top athletes (Agassi and Steffi Graf), and the biggest story in real estate (the housing bubble) have all come together in one neat package.
A top investor in YouTube, Bill Bullock, made a bundle with the sale for 1.65 billion to Google last week and decided to buy the 20 million dollar Tiburon home of Andre and Steffi Graf that overlooks San Francisco Bay. The sale was for 3 million dollars less than the couple had paid for the home 5 years ago, giving ammunition that the housing bubble has to be in full force to those who wish to believe such things.
The 13,000-square-foot estate is being sold to Stuart Peterson, the chief of a hedge fund that invested early in the YouTube video-sharing Web site, according to Bill Bullock, whose real estate firm represents the couple. YouTube agreed last month to be acquired by Google for $1.65 billion.
Agassi and Graf, who live most of the year in Las Vegas, had been asking $24.5 million for the property, which features 11 bedrooms, 11 bathrooms, a home theater, two pools, a tennis court and helicopter landing pad.
The cost of upkeep was a factor in the sale, Bullock said. via The Seattle Times
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