Report: Yahoo! CEO Marissa Mayer Spends $11.2 Million For Funeral Home Near Her Suburban Home
Palo Alto, CA
Most Known For
Longtime Google employee, turned Yahoo! CEO
Funeral home, likely to be demolished
According to reports by The Silicon Valley Business Journal and Palo Alto Weekly, Mayer bought the property that houses Roller & Hapgood & Tinney, Palo Alto‘s oldest funeral home for $11.2 million. The funeral home is set to close its doors on October 31st, and the land on which it sits is currently zoned “planned community,” and a 2012 Palo Alto city report identified the funeral-home property as a potential site for up to 21 residences.
No one knows exactly what Mayer plans to do with the property, but the deal does resemble the buying spree Mark Zuckerberg just went on in Palo Alto. Zuckerberg bought the three homes adjacent to his main residence to protect his privacy and to stop a developer from marketing a home as being “next door to Mark Zuckerberg. Mayer may be taking a similar approach, as her Palo Alto residence is just a short block from her new purchase.
Standard with high-profile buyers, Mayer’s name isn’t directly associated with the purchase. County transfer tax records show a blind LLC paid $11.2 million for the site and the deal closed on Oct. 7th.
Image via Google Street View.