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Riverwood Capital co-founder sells Atherton home for $23 million

Umito October 25, 2024

Riverwood Capital co-founder Christopher Varelas has sold his Atherton home in the prestigious Menlo Circus Club neighborhood for $23 million, putting it in the top ten transactions in the most expensive zip code in the country this year.

Mary and Brent Gullixson of Compass listed the 1.2-acre property at 202 Camino Al Lago in April for just under $25 million, then in June they changed the price to $24,888,000. (Putting eight in the listing price is a common practice in the Bay Area to attract the attention of Asian buyers, as eight is considered a lucky number in many Asian cultures.) The contract was signed in September and closed on October 18.

The buyer is Dmytro Gerasymenko, founder of SEO search company Ahrefs, and his wife, Natthaya, according to public records. Natthaya is a former Thai chemistry teacher who recently opened a Thai-style creperie in Singapore, where the couple is based and where Ahrefs is headquartered.

The buyers’ agent, Rachel Michael of City Real Estate, declined to confirm the identities of her clients, but said they were competing with another party on the transaction, “as the September market has been incredibly active with a large portion of high-end inventory being absorbed.”

Mary Gullixson declined to comment on the sale but agreed with Michael’s optimistic assessment of the luxury market this fall.

“The Atherton market continues to be active with multiple offers from buyers looking for turnkey properties,” she said.

The 8,000-square-foot home with five en suite bedrooms was built in 1907 but was extensively renovated by Varelas and his wife Jessica after purchasing the home for $16.2 million in late 2016, according to property and permit records, which also show the addition of a guest house in 2019.

This two-level structure is described as a “poolside cabana” in the Gullixsons’ marketing materials because it sits right next to the pool and spa. It features a living room with a fully equipped kitchen and a home gym with steam shower and infrared sauna on the main level, as well as a media room, lounge and wine cellar below.

Luxurious amenities, which also include a pétanque court, were among the standout selling features, as were high-end custom finishes, including vintage terracotta tiles imported from Italy and hand-painted wallpaper and hand embroidered, Michael said. The flag lot’s expansive gardens and mature olive trees add to the feeling of serenity and privacy, she said.

The listing site also touts the proximity to the Sand Hill Road venture capital center in Menlo Park. Riverwood Capital, a technology investment firm with more than $6 billion in assets under management, is located in Menlo Park and also has offices in Miami, New York and Sao Paulo, Brazil, according to the company’s website. the society. Varelas is a leader in the firm’s current investments in Insider, a marketing software automation company, and Nextdoor, the local social networking platform.