Mark Zuckerberg and Priscilla Chan have made headlines with the recent sale of their San Francisco home, fetching an impressive $31 million in an off-market transaction, as confirmed by a family spokesperson. This deal has now clinched the title of the most expensive sale in San Francisco this year, according to Zillow.
Mark Zuckerberg and Priscilla Chan Sell San Francisco Home for $31 Million, Setting a Record
The historic property, originally built in 1928, boasts an expansive 7,386 square feet of living space, featuring four bedrooms and four bathrooms. Nestled on the fringes of the Mission District and Dolores Heights neighborhoods, it holds a prime location within the city. While the sale was completed on July 1, 2022, details of the transaction have only recently been made public.
Notably, Mark Zuckerberg, the co-founder of Facebook (now Meta) and his wife Priscilla Chan, purchased this home in 2012 for a comparatively modest sum of just under $10 million. The acquisition was executed through a California-based limited liability company, SFRP, as indicated by PropertyShark records. The grant deed in the transaction was signed on behalf of SFRP by Na’eem Salaam, the vice president of operations of the Chan Zuckerberg Initiative.
Although representatives from the organization have confirmed the sale, both Mr. Zuckerberg and Ms. Chan were unavailable for comments regarding the transaction.
The identity of the buyer remains shrouded in mystery, as PropertyShark records only indicate a limited liability company based in Delaware as the purchaser. Further inquiries to identify the buyer have been met with silence, with Michael M. Gordon, a director at the law firm of Gordon, Fournaris and Mammarella in Wilmington, listed as the contact for the LLC. Gordon has not yet responded to requests for comments.
It’s worth noting that when the couple originally acquired the property a decade ago, it was significantly smaller, boasting only 1,800 square feet of living space. The sale at that time likely set a record for the Mission District, marking the early stages of a tech-driven transformation in San Francisco, as reported by The Wall Street Journal.
The Chan Zuckerberg Initiative, founded in 2015, is a philanthropic endeavor aimed at tackling some of society’s most pressing challenges, ranging from disease eradication to educational improvement and community support. Priscilla Chan and Mark Zuckerberg serve as co-founders and co-CEOs of the initiative.
Mark Zuckerberg and Priscilla Chan Sell San Francisco Home for $31 Million, Setting a Record
In a separate property investment, the couple purchased nearly 600 acres of land on the Hawaiian island of Kauai for $53 million in March, as reported by Mansion Global. This acquisition expanded their land holdings in Hawaii to over 1,300 acres.
In addition to their San Francisco property, the couple also put their Silicon Valley home on the market in May, originally listing it for nearly $5.3 million. However, after a few weeks with no takers, the price was reduced to just under $5 million before being withdrawn from the market earlier this month. The property is currently available for rent at $11,000 per month. The sale of this home was first reported by The Real Deal.