For US$31 million, Mark Zuckerberg sells his San Francisco home

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A decade after apparently purchasing the vast San Francisco mansion for roughly US$10 million (RM44.54 million), tech tycoon Mark Zuckerberg has sold it for a whopping US$31 million (RM138.06 million).

image credits: inc

A deed signed by a Facebook co-eponymous founder’s Chan Zuckerberg Initiative executive verified the transaction earlier this month.

The Real Deal initially reported on the sale of Zuckerberg’s 21st Street property, which is located on Liberty Hill near Dolores Park. This year’s most expensive property transaction in San Francisco looks to be the sale of two penthouse condominiums originally held by former Secretary of State George Shultz and his wife, former San Francisco Chief of Protocol Charlotte Shultz, for a total of US$31 million (RM129.15 million), according to the deed.

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That tech mogul influence in global real estate is expanding, as is the potential for San Francisco celebrity homes to reach sky-high prices. As of late this spring, Forbes stated that the Bay Area was home to 116 of California’s 189 billionaires.

“What’s so special about California?” Forbes stated this in its April billionaire update.. For this, we may thank the burgeoning field of technology.

The Shultz sale was the most expensive apartment transaction in San Francisco history, shattering previous records. According to past industry sources, at least one other San Francisco property, a mansion in affluent Pacific Heights, had sold for close to $40 million (RM178.14mil).

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Details on Zuckerberg’s now-defunct home are limited despite the staggering sales statistics. According to The Real Deal, the corporation designated as “SFRP LLC” bought and sold the Dolores Heights residence and is also linked to a property held by Zuckerberg in Palo Alto. An equally enigmatic Delaware LLC bought the San Francisco home.

In the beginning, it was marketed as a 7,200-square-foot mansion with four bedrooms, but the tech mogul’s presence and building noise aroused the ire of nearby residents. Some people felt that Zuckerberg’s security team was taking up too many “desirable parking places” in 2016, so they complained.

Vinod Khosla, an entrepreneur and venture investor, is just one of a number of Silicon Valley titans who have bought up and tried to privatise regions near their homes. Scott McNealy, the co-founder of Sun Microsystems, has reduced the asking price of his California Peninsula estate to little under US$54 million (RM240.49mil).

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Facebook CEO Mark Zuckerberg is said to possess two US$59 million (RM262.76 million) Lake Tahoe residences, as well as 1,500 acres of land on the Hawaiian island of Kauai. | The Chronicle of Higher Education

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