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.
According to Zilllow, the transaction represents the most expensive sale in San Francisco so far this year. The 7,386 square foot property, which is on the border of the Mission District and Dolores Heights neighbourhoods of the city, was built in 1928 and features four bedrooms and four bathrooms. Although the deal was completed on July 1, the documents have just recently been made accessible to the public.
According to documents with PropertyShark, the 38-year-old co-founder of Facebook and Meta and his wife, 37, bought the house in 2012 for little under $10 million through a California limited liability company, SFRP. The Chan Zuckerberg Initiative’s vice president of operations, Na’eem Salaam, signed a grant document between the seller and the buyer on behalf of SFRP.
The arrangement was verified by an organisation spokesman, but Mr. Zuckerberg and Ms. Chen were unavailable for comment.
According to PropertyShark data, the purchase was a limited liability business located in Delaware. Although Michael M. Gordon, a director at the Wilmington law firm of Gordon, Fournaris and Mammarella, was named as the contact for the LLC, Mansion Global was unable to determine the buyer’s identity further. When asked for remark, he did not respond right away.
The property was roughly 1,800 square feet smaller when the couple purchased it ten years ago, and The Wall Street Journal noted that the transaction price likely set a record for the Mission District at a time when San Francisco was witnessing the first symptoms of a tech invasion.
The Chan Zuckerberg Initiative was established in 2015 with the stated mission of “helping solve some of society’s toughest challenges—from eradicating disease and improving education, to addressing the needs of our local communities.” The co-founders and co-CEOs are Ms. Chan and Mr. Zuckerberg.
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.
The Silicon Valley house where Mr. Zuckerberg and the other Facebook co-founders established the social networking site was also put on the market in May and sold for close to $5.3 million. A few weeks after it was advertised, the price was reduced to slightly under $5 million, and it was removed from the market early this month. Currently, it is available to rent for $11,000 per month.