Deanna Surbaugh Of Frank Rimerman & Co Acquires Atherton Estate From Gap For $48M

The property involved in the transaction is located at 170 Atherton Avenue & 154 Atherton Avenue in Atherton. This single-family estate spans 6 acres and was sold by Doris Fisher, the Gap co-founder, to Deanna Surbaugh of Frank Rimerman + Co - Magnificent Trees LLC & Majestic Trees LLC for a sale price of $48,000,000. Originally marketed as an 8-acre property, the estate includes an older home situated on 6 acres.

Summary of transaction details:

• Property Type: Single Family
• Transaction Amount: $48,000,000
• Buyer: Deanna Surbaugh - Frank Rimerman + Co - Magnificent Trees LLC & Majestic Trees LLC
• Seller: Doris Fisher - Gap
• Brokers: Brent Gullixson & Mary Gullixson - Compass
• Market: Atherton
• Address: 170 Atherton Avenue & 154 Atherton Avenue

The sale marks one of the largest trades in the Atherton area in recent years, as the majority of Doris Fisher's family estate changed hands. Notably, the estate had an initial asking price of $100 million in 2021 before being sold for nearly half that amount in the final transaction. Additionally, a 2-acre portion of the property was separately sold for $15.5 million to a high-end home developer.