Green Gables at $85 Million

Green Gables, Elizabeth Holmes, and the $85 million reckoning of a Silicon Valley landmark

Landlord Ledger Publications • Transaction • 2025-12-21

In September 2025, one of Silicon Valley's most legendary properties, the Green Gables estate in Woodside, California, was sold for a staggering $85 million. The sale of this historic 74-acre property, which had been in the same family for five generations, garnered significant media attention not only for its price tag but also for its recent association with a high-profile figure: Elizabeth Holmes, the disgraced founder of Theranos. This report provides a comprehensive overview of the Green Gables estate, its storied history, the details of its recent sale, and the nature of its connection to the infamous Theranos scandal.

Inside The Green Gables Estate

The Green Gables Estate: A Silicon Valley Jewel

The Green Gables estate is a sprawling 74-acre property located in the affluent town of Woodside, California, a secluded enclave known for its wealthy residents and equestrian-friendly atmosphere. The estate is a remarkable assemblage of seven residences, extensive gardens, and numerous amenities, making it one of the most significant private landholdings in the region. The property's key features are summarized in the table below.

| Feature | Description | | ------------------------ | ----------------------------------------------------------------------------------------------------------------------------------------- | | Total Area | 74 acres | | Main Residence | A 10,000-square-foot English manor-style house with an imitation thatch roof, designed by Greene and Greene | | Additional Dwellings | Six other private homes, bringing the total living space to approximately 24,000-25,000 square feet with 34 bedrooms and 26 bathrooms | | Water Features | Three swimming pools, a piano-shaped pool, a lily pond, and a 100-yard Roman reflecting pool | | Gardens & Landscape | Extensive gardens inspired by 18th-century English landscapes, a stone teahouse, and a large vegetable and flower garden | | Other Amenities | An equestrian barn, tennis courts, an artist's studio, and a dairy | | Water Supply | A 50,000-square-foot reservoir irrigates 90% of the gardens, with rights to use up to 30 million gallons of water per year from a local watershed |

The Fleishhacker Family Legacy

Green Gables was the cherished summer retreat for the Fleishhacker family for over a century. The estate's story began in 1911 when Mortimer Fleishhacker Sr. (1866-1953), a prominent San Francisco banker, industrialist, and philanthropist, and his wife, artist Bella Gerstle Fleishhacker (1875-1963), commissioned the main house. Mortimer Fleishhacker was a co-founder of the Great Western Power utility company, which later became part of Pacific Gas and Electric (PG&E), and was a significant figure in San Francisco's civic and cultural life.

For five generations, the Fleishhacker family preserved and expanded the estate, hosting numerous distinguished guests, including royalty and political leaders. The estate was the venue for the United Nations' 20th-anniversary gala in 1965. After six years on the market, the family decided to sell the property to prevent potential infighting among the heirs. Marc Fleishhacker, Mortimer's great-grandson, expressed that it had been "an immense privilege for five generations of my family to create, enhance, and profoundly enjoy Green Gables for the past 114 years".

Architectural Significance: A Greene and Greene Masterpiece

The Green Gables estate holds a significant place in American architectural history as the largest residential project ever undertaken by the renowned architectural firm Greene and Greene. The brothers Charles Sumner Greene (1868-1957) and Henry Mather Greene (1870-1954) were pioneers of the Arts and Crafts movement in California, and their work is celebrated for its exceptional craftsmanship and integration with the natural landscape.

Charles Greene's design for Green Gables was a comprehensive vision that included not only the main residence but also the surrounding gardens, terraces, and water features. The design of the main house, an English manor with a distinctive gunite (shotcrete) exterior and an imitation thatch roof, was complemented by the Italian-style gardens and the rolling lawns inspired by Greene's visit to Fountains Abbey in England. The estate's architectural and landscape design has been recognized with a listing on the National Register of Historic Places.

The $85 Million Sale: A Record Transaction

The sale of Green Gables in September 2025 for $85 million was the most expensive residential transaction in the Bay Area for that year and the largest in over a decade. The property had been on and off the market for six years, with its asking price fluctuating over time, as shown in the table below.

| Year | Asking Price | | ----- | --------------- | | 2019 | $117 million | | 2021 | $135 million | | 2025 | $125 million | | 2025 | $85 million (Sale Price) |

Source: The Real Deal

The off-market purchase was made by a New York-based limited liability company, Pantheum LLC. While the sale price was a significant reduction from the initial asking prices, it still surpassed the previous year's record sale of $71 million for a San Francisco mansion owned by Laurene Powell Jobs, the widow of Apple co-founder Steve Jobs. The all-time record for a Bay Area home sale remains the $117.5 million purchase of a Woodside estate by SoftBank founder Masayoshi Son in 2012.

The "Theranos" Connection: Elizabeth Holmes's Temporary Residence

The estate's recent notoriety is largely due to its association with Elizabeth Holmes, the founder of the fraudulent blood-testing company Theranos. It is crucial to note that Holmes was never the owner of the Green Gables estate. She and her partner, William "Billy" Evans, rented one of the smaller homes on the property from March 2021 to November 2022, during her high-profile criminal fraud trial. Their residence on the estate was discovered through a traffic citation issued to Evans.

At the time of Holmes's stay, the estate was already listed for sale for $135 million. The town of Woodside, known for its privacy, provided a secluded setting for Holmes, who was facing intense media scrutiny. In January 2022, Holmes was convicted on four counts of defrauding investors and was later sentenced to over 11 years in federal prison. The "Theranos estate" moniker is therefore a misnomer, as the property's connection to Holmes is that of a temporary, high-profile tenant rather than an owner.

The Buyer: Pantheum LLC and EPIQ Capital Group

The purchaser of the Green Gables estate, Pantheum LLC, is a New York-based entity managed by Mirari Jacobson of EPIQ Capital Group. EPIQ Capital Group is a San Francisco-based multi-family office founded in 2018 by Chad Boeding, a former wealth manager at Iconiq Capital. The firm specializes in providing wealth management services to ultra-high-net-worth families and institutions, typically with assets exceeding $100 million.

EPIQ's lineage connects it to Iconiq Capital, a highly secretive family office known for managing the fortunes of some of Silicon Valley's and Hollywood's biggest names, including Mark Zuckerberg, Sheryl Sandberg, and Tom Hanks. This connection suggests that the new owner of Green Gables is an individual or family of significant wealth, represented by a firm that specializes in serving the world's elite.

Conclusion

The $85 million sale of the Green Gables estate marks the end of a long chapter in the history of one of Silicon Valley's most iconic properties. For over a century, it was the private sanctuary of the Fleishhacker family, a testament to their legacy and a masterpiece of American architecture. While its recent, temporary association with Elizabeth Holmes has added a layer of modern intrigue, the estate's true significance lies in its rich history, architectural pedigree, and its status as a rare, expansive retreat in the heart of the tech world. The acquisition by a client of EPIQ Capital Group ensures that this remarkable property will continue to be a private domain for the ultra-wealthy, beginning a new chapter in its long and storied existence.