Mark Zuckerberg sells his San Francisco home for $31 million

Tech billionaire Mark Zuckerberg has sold his sprawling San Francisco home for $31 million, more than triple his money since he bought the home for nearly $10 million a decade ago.

The sale was confirmed by a deed presented to the city earlier this month, which was signed by CEO and Facebook co-founder Chan Zuckerberg Initiative.

Zuckerberg’s 21st Street off-market home, located on Liberty Hill near Dolores Park, was first reported for sale by real estate news site The Real Deal. The $31 million price tag, calculated based on the tax assessments cited in the act, appears to be the most expensive home sale in San Francisco this year, surpassing last week’s $29 million sale of two penthouses owned by former Secretary of State George Shultz. And his wife, former San Francisco Chief of Ceremony Charlotte Schultz

It’s also the latest example of how tech moguls are increasing the influence of global real estate, and how celebrity home prices can soar in San Francisco. Finally, Forbes reported that as of earlier this spring, the Bay Area was home to 116 of California’s 189 billionaires.

“Why does California prevail?” Forbes magazine wrote in its April billionaire update. ‘I thank the burgeoning technology industry.’

Schultz’s sale broke city records as the highest sale price for an apartment in San Francisco history. Previous industry reports indicate that at least another home in San Francisco, a home in Tony Pacific Heights, previously traded for nearly $40 million.

Despite the eye-catching sales numbers, details about Zuckerberg’s now former home are still relatively scarce. The Dolores Heights home was bought and sold by an entity listed as “SFRP LLC,” which the Real Deal notes is also related to property Zuckerberg owns in Palo Alto. The San Francisco home was purchased by Delaware LLC, which is also opaque.

Initially listed as a 7,200-square-foot four-bedroom home, it underwent a renovation that drew the ire of neighbors who were unhappy with the presence of the tech mogul and the building noise. In 2016, some complained that Zuckerberg’s security forces were blocking “desirable parking spaces”.

Our colleagues in Silicon Valley, including entrepreneur and venture capitalist Vinod Khosla, have sparked controversy by buying and trying to privatize the areas surrounding the Bay Area’s clusters. Others are also looking to cash in on the money: Scott McNeely, co-founder of Sun Microsystems, has lowered the price on his Peninsula mansion to just under $54 million.

In addition to his expensive Bay Area homes, Zuckerberg is said to own a combined $59 million on the Nevada side of Lake Tahoe, as well as about 1,500 acres on the Hawaiian island of Kauai.

San Francisco Chronicle staff writer Roland Lee contributed to this report.

Lauren Hepler (he/she) is a writer for the San Francisco Chronicle. Email: Twitter: Tweet embed

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