Mark Zuckerberg and Priscilla Chan have sold one of their San Francisco mansions for $31 million in a private transaction.
According to Zillow, it is the priciest sale in San Francisco this year. The 1928 building, which is on the border between the Mission District and Dolores Heights, is a spacious residence with four bedrooms and four baths. Although the sale officially concluded on July 1st, documentation of the deal is just now being accessible to the general public.
Records with PropertyShark indicate that the Facebook-cum-Meta co-founder, then aged 38, and his wife, then aged 37, acquired the house in 2012 via a California limited liability company, SFRP, for slightly under $10 million. Na’eem Salaam, the vice president of operations at the Chan Zuckerberg Initiative, signed a grant document on behalf of SFRP between the seller and the buyer.
According to data compiled by PropertyShark, the purchaser was a Delaware limited liability business. Although Mansion Global was unable to uncover any further information on the purchase, the LLC’s designated contact was Michael M. Gordon, a director at the Wilmington law firm Gordon, Fournaris & Mammarella. A request for comment was sent to him, but he hasn’t responded yet.
The Wall Street Journal stated at the time that the couple acquired the house that the transaction price likely broke a record for the Mission District since it occurred at a time when San Francisco was beginning to witness the early symptoms of a tech takeover.
The Chan Zuckerberg Initiative was established in 2015 with the stated mission of “help solving some of society’s toughest challenges,” including “eradicating disease and improving education, and addressing the needs of our local communities.” Co-CEOs and co-founders, Ms. Chan and Mr. Zuckerberg.
In addition, Mr. Zuckerberg and the other co-founders of Facebook put their Silicon Valley house on the market in May for about $5.3 million. A few weeks after being posted, the price was reduced to just under $5 million, and it was withdrawn off the market early this month. It’s presently available for $11,000 a month as a rental.