The deal is the most expensive in the city so far this year
Mark Zuckerberg and Priscilla Chan have sold one of their San Francisco homes for $31 million in an off-market deal, a spokesperson for the family confirmed.
The deal marks the most expensive sale in San Francisco so far this year, according to Zilllow. Built in 1928, the 7,386-square-foot home has four bedrooms and four bathrooms, and is on the edge of the Mission District and Dolores Heights neighborhoods of the city. The sale closed on July 1, but records of the transaction have just become publicly available.
The Facebook-cum-Meta co-founder, 38, and his wife, 37, purchased the home in 2012 for just under $10 million through a California-based limited liability company, SFRP, according to records with PropertyShark. A grant deed between the seller and the buyer was signed on SFRP’s behalf by Na’eem Salaam, the vice president of operations of the Chan Zuckerberg Initiative.
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Although a representative for the organization confirmed the deal, Mr. Zuckerberg and Ms. Chen were not available for comment.
The buyer was a limited liability company based in Delaware, PropertyShark records show. Mansion Global was unable to identify the buyer further, but Michael M. Gordon, a director at the law firm of Gordon, Fournaris and Mammarella in Wilmington, was listed as the contact for the LLC. He did not immediately return a request for comment.
When the couple bought the home 10 years ago, it was about 1,800 square feet smaller and its sale price likely set a record for the Mission District at a time when San Francisco was seeing the early signs of a tech takeover, The Wall Street Journal reported at the time.
Founded in 2015, the Chan Zuckerberg Initiative aims “to help solve some of society’s toughest challenges—from eradicating disease and improving education, to addressing the needs of our local communities,” according to its website. Ms. Chan and Mr. Zuckerberg are the co-founders and serve as co-CEOs.
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Last March, they purchased close to 600 acres of land on the Hawaiian island of Kauai for $53 million, Mansion Global reported. That brought their total holdings to more than 1,300 acres on the Hawaiian island.
In addition, the Silicon Valley home where Mr. Zuckerberg and other Facebook co-founders launched the social media platform hit the market in May for nearly $5.3 million. The price was dropped to just under $5 million a few weeks after it was listed, and taken off the market earlier this month. It’s currently being offered as a rental for $11,000 a month.
The Real Deal first reported the sale.