Elon Musk has slashed the price of his Bay Area mansion by 15%, bringing it down to little under $32 million.
This price reduction comes barely a month after the house was removed from the market after being listed for $37.5 million.
According to Bay Neighborhood market sources, the new price comes out to about $2,000 per square foot, nearly double the per square foot price for other residences in the area.
The price reduction follows Musk’s statement that Tesla, like many other IT businesses, including Oracle and Hewlett Packard Enterprise, will relocate its headquarters from the San Francisco Bay Area to Texas.
Musk moved to Texas at the end of last year, and in July, he tweeted that he was living in a $50,000 pre-fab house in Austin.
Musk’s vow to sell “nearly all physical possessions” and “own no dwelling” appears to include the sale of his Bay Area residence.
Musk announced earlier this year that he had sold six of his seven residences and was renting out his mansion in the Bay Area for events.
The vast 16,000 square foot estate, which sits on 47 acres in Hillsborough, California, was erected in 1916, according to the description. It contains a library, a music room, and a pool, as well as 10 bathrooms and seven bedrooms.
Musk paid more than $23 million for the home in 2017.