A mansion in San Francisco’s tony Pacific Heights neighborhood offered for roughly $70 million, property data present, setting a file for a house within the metropolis.
The client was billionaire philanthropist Laurene Powell Jobs, in response to the Wall Road Journal, which first reported the transaction.
Powell Jobs, the founding father of Emerson Collective and widow of Apple Inc. founder Steve Jobs, has a web price of $11.4 billion, in response to the Bloomberg Billionaires Index. The acquisition extends a shopping for spree she’s fabricated from luxurious California properties. Earlier this yr, she purchased a $94 million property in Malibu spanning 4 acres and overlooking the Pacific Ocean — her fourth buy within the Los Angeles space since 2015.
The sellers of the San Francisco mansion, positioned within the so-called Billionaire’s Row space of Pacific Heights, are Sloan Lindemann Barnett and Roger Barnett, who purchased the house in 2011 for $33 million. She is the daughter of billionaire George L. Lindemann and he’s the chief government officer of complement firm Shaklee Corp.
The Barnetts didn’t reply to a request for remark. A spokesperson for Powell Jobs declined to remark.
The San Francisco property wasn’t publicly listed on the market and information of the off-market transaction got here as a shock to a number of high-end actual property brokers within the metropolis.
The deal follows a latest pattern of rich individuals taking part in an outsized function in San Francisco’s housing market. Residence gross sales within the metropolis rose 9% within the second quarter from a yr earlier — however they jumped 54% for properties priced at $5 million or extra, in response to brokerage Compass. The typical days available on the market for listings is at a two-year low.
Property data confirmed the Pacific Heights purchaser, listed as Mister Rogers Belief, paid a switch tax of $4.26 million, which might equate to a purchase order value of round $70 million. The earlier San Francisco file value was $43.5 million for an additional Pacific Heights mansion set in 2021.
The Spanish Renaissance Revival-style mansion was initially inbuilt 1916 and is 4 tales, with a two-story courtyard topped by a glass roof. The Barnetts employed architect and designer Peter Marino to guide a restoration of the home, putting in 4 tales of glass on the house’s north aspect to disclose panoramic views of the San Francisco Bay, the Golden Gate Bridge, Alcatraz Island and the skyline of town, in response to a 2020 report in Architectural Digest.
