Thursday, July 14, 2005

Googlers Taking Over Atherton?

Looking for a home in Atherton? Watch out for Googlers! [WSJ]

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"Manuel Henriquez wanted a house in Atherton, Calif., last fall, but he knew time was running out: The Google money was coming.

"So late last year, Mr. Henriquez, a private-equity executive, bid more than $7.95 million on a 10,000-square-foot Atherton house then under construction. Too late: David Cowan, a venture capitalist, had the same idea and won the house for $8.2 million. "I wanted to buy before the Google lockups expired in February," says Mr. Cowan.

"Meanwhile, Mr. Henriquez finally broke his losing streak last month when he bought a 7,400-square-foot Atherton house for $7.4 million, according to the assessor's records. The 41-year-old says he is relieved the "ordeal" of buying in Atherton is over. "I know another 15 to 20 Google families who are still looking to buy here," he says."