Mark Zuckerberg, co-founder of Facebook (now Meta), and his wife, Priscilla Chan, have sold one of their San Francisco homes for $31 million in an off-market transaction. A spokesperson for the family confirmed the sale, marking one of the most expensive real estate deals in San Francisco to date.
According to Zillow, this sale represents the highest-priced transaction in the city this year. Moreover, the 7,386-square-foot home, which was built in 1928, features four bedrooms and four bathrooms. Additionally, it is located between the Mission District and Dolores Heights neighbourhoods, making it a prime location. The sale was finalized on July 1, and subsequently, the transaction details have become publicly available.
Details of the Property
- Location: Mission District/Dolores Heights, San Francisco
- Size: 7,386 square feet
- Features: Four bedrooms, four bathrooms
- History: Purchased by Zuckerberg and Chan in 2012 for $10 million through their California-based limited liability company, SFRP.
When purchased, the property was approximately 1,800 square feet smaller, and its price at the time set a record for the area. In 2012, San Francisco was experiencing the early stages of a tech-driven housing boom.
The Transaction
A grant deed signed by Na’eem Salam, Vice President of Operations for the Chan Zuckerberg Initiative (CZI), confirmed the sale on behalf of SFRP. The buyer, represented by a Delaware-based LLC, remains anonymous. Property records list Michael M. Gordon of the law firm Gordon, Fournaris & Mammarella as the LLC’s contact person. Gordon has not commented on the transaction.
Zuckerberg and Chan’s Expanding Real Estate Portfolio
The sale is a notable addition to the couple’s extensive real estate dealings:
- Hawaiian Island of Kauai: Earlier this year, the couple purchased 600 acres of land for $53 million, increasing their total holdings on the island to over 1,300 acres.
- Silicon Valley Home: In May, the house where Zuckerberg and the other Facebook co-founders started the social media platform was listed for $5.3 million. However, the property was later removed from the market and is now available for rent at $100,000 per month.
About the Chan Zuckerberg Initiative
Founded in 2015, the Chan Zuckerberg Initiative aims to address some of society’s biggest challenges. These include disease eradication, education reform, and community support. Furthermore, both Zuckerberg and Chan serve as co-founders and co-CEOs of the organization, which underscores their deep commitment to philanthropy and social impact. Additionally, the initiative continues to expand its reach, working on innovative solutions for global issues.
Key Takeaways
- High-Value Sale: The $31 million transaction underscores the rising value of luxury real estate in San Francisco.
- Real Estate Portfolio: Zuckerberg and Chan continue to diversify their holdings, from city properties to expansive Hawaiian lands.
- Community Focus: Their philanthropic efforts through CZI highlight their broader commitment to societal progress.
Conclusion
Mark Zuckerberg and Priscilla Chan’s recent $31 million San Francisco home sale exemplifies the couple’s significant presence in both the real estate and philanthropic worlds. As they expand their property portfolio and focus on community-driven initiatives, their influence extends far beyond technology.
For more insights into high-profile real estate transactions, stay connected with Mansoor Naqvi Team.