Mark Zuckerberg Buys $7 Million First Home

I remember buying my first home. It was a quaint little townhome that cost about $79,000 back in 1996. It was an exciting time.

Mark Zuckerberg, the 26-year-old CEO of Facebook who’s been valued at about $13.5 billion, recently purchased his first home for $7 million.

The restored Palo Alto, California 5,617-square-foot dwelling sits on 17,100 square-foot plot. It has five bedrooms, five and a half baths, a banquet-size dining room, a music alcove, and glassed-in porch. Not too shabby.

The backyard features a saltwater pool, a spa, an outdoor gazebo with a wood-burning fireplace, and a carport. The lot, which is located on Edgewood Drive in the Crescent Park neighborhood, is shielded by a wall and citrus trees.

The average selling price of homes in Crescent Park itself was $1.9 million in February, according to the Zillow.

The home was listed through Sherry Bucolo of Alain Pinel Realtors. Public records show that the purchase closed in March. The sale was conducted through a third party LLC, as is the case with most wealthy homebuyers.

Zuckerberg paid $1 million more than the previously-listed asking price of $5.85 million. The $7 million figure seems to be just about right for the 94301 zip code, according to Zillow.