San Francisco home worth $31 million

Meta CEO Mark Zuckerberg.Kevin Deitch/Getty Images

  • Mark Zuckerberg has sold his San Francisco home for $31 million, according to The Real Deal.

  • He still owns condominiums in Palo Alto, California, and on nearby Lake Tahoe.

  • These days, he appears to be spending more time on Kauai, Hawaii, where he owns about 1,500 acres.

Mark Zuckerberg has emptied part of his multi-million dollar real estate portfolio.

The CEO of Meta, who has a fortune of about $62 billion, sold one of his homes in the San Francisco Bay Area for $31 million earlier this month. The off-market sale is the city’s largest residential real estate deal so far in 2022, according to The Real Deal.

The four-bedroom, four-bathroom home, spread over 7,368 square feet, is located in San Francisco’s Dolores Heights neighborhood, adjacent to the popular Mission Dolores Park. Zuckerberg and his wife, Priscilla Chan, reportedly paid $10 million to buy it back in 2013.

But the property caused tension among Zuckerberg’s neighbors, who objected to the construction work that began on the house that year. Residents told the San Francisco Chronicle they suffer from constant noise from the 50-person staff working on the property every day, and said they have been banned from parking on their streets for months.

Permits filed with the city at the time showed that Zuckerberg planned to do multi-million dollar work on the house, including renovating the kitchen and bathrooms; Added new office, media room, half bath, mud room, laundry room, wine room, and wet bar; place additions on the back and side of the house; And adding a new garage in the basement includes a turntable for cars so they can get out more easily.

While the home is now in the hands of a new buyer — The Real Deal reports it was sold to a Delaware-based LLC — Zuckerberg still owns properties in the Bay Area. He purchased a five-bedroom home in Palo Alto in 2011, then added the four homes surrounding the property to create a private compound. He also owns two adjoining waterfront properties in an elegant enclave on Lake Tahoe, a popular vacation destination for Bay Area residents.

But these days, Zuckerberg seems to be spending more and more time on his nearly 1,500-acre ranch in Kauai, Hawaii, where he often discovers surfing and thrashing, a type of water sport.

Zuckerberg began buying properties on the north shore of Kauai in 2014, most recently snapping up $17 million of the land in December 2021. Zuckerberg and Chan have donated millions to local organizations, but their presence on the island has also, at times, been controversial: local residents told Insider Last year they saw Zuckerberg’s land purchases as “new ownership” that failed to honor the island’s history.

Read the original article on Business Insider

Leave a Reply

%d bloggers like this: