Stephen Ackley Acquires Doris Fisher's Atherton Property For $15.5M

The sale involved a Tudor-style home with a two-acre lot located at 178 Atherton Avenue in Atherton. The property was purchased for $15.5 million by developer Pacific Peninsula Development from Doris Fisher, co-founder of The Gap. The transaction took place after a nine-month escrow period, signaling active development in the local real estate market.

Summary of transaction details:

• Property Type: Single Family
• Transaction Amount: $15,500,000
• Address: 178 Atherton Avenue
• Market: Atherton
• Asset Type: Single Family
• Acres: 2
• Square Footage: 4,105
• Price per Square Foot: $3,776

Stephen Ackley of Pacific Peninsula Development acted as the buyer in this transaction, while Doris Fisher, the seller, was represented by Brent Gullixson and Mary Gullixson of Compass. Brad Smith from Pacific Peninsula Group served as the buyer's representative. The sale of this property, part of the Fishers' former $100 million estate, highlights a notable shift in the local real estate market with the influx of development activities in Atherton.