San Francisco Mansion Sells for $28.5 Million, $10 Million Over Asking
A Presidio Wall estate in San Francisco sold for $28.5 million on 22 October, $10 million above its asking price. The house had been listed at $18.5 million on 2 October, according to The Guardian.
The sale was described as a new record for San Francisco. The property, at 20 Cherry Street in the Presidio Wall neighborhood, is an eight-bedroom home with seven bathrooms, according to a Zillow listing. A Business Journal report put its size at 10,000 square feet.
The house was built in 1966 to a design by the firm Whisler-Patri. It has a private garden and a three-car garage. For more than 40 years it was owned by one family.
The sellers were the Janice R Lurie Trust and the Robert A Lurie Trust. Trusts are legal arrangements that hold property on behalf of named people, often family members. Robert Lurie previously owned the San Francisco Giants baseball team.
The sale comes amid a strong run for the city's upper end of the housing market. More than 140 San Francisco homes sold for $1 million or more over asking in the first six months of the year, compared with eight a year earlier. In September, almost 92% of single-family homes in the city sold above their asking prices.
