Facebook co-founder Mark Zuckerberg, who has a robust real estate portfolio across the West Coast of the US, is saying goodbye to San Francisco after he has sold his house located there for $31 million. This is the most expensive home sale in the city so far this year, according to a report in The Real Deal.
He had bought the house for about $10 million in November 2012. The house is located in the secluded Liberty Hill neighborhood off Dolores Park and spreads over 7,000 square foot. It is close to the Mission District and the Zuckerberg San Francisco General Hospital and Trauma Center. The home was built in 1928 and sits on a quarter-acre lot.
The property is listed on Redfin as a four-bath, four-bedroom with nearly 7,400 square feets but 2014-15 permits filed with the city’s Department of Building Inspection show completed work to add space on the first, second and third floors, and legalize space on the top floor of the four-floor home, as well as adding a bathroom and creating a roof deck. The kitchen and six bathrooms were remodeled as part of the renovations during that time, and air conditioning and a fire sprinkler system was added. The property also just wrapped up some foundation work last month, according to building department records, according to The Real Deal.
The Facebook co-founder purchased the house months after the company went public. The entity launched its IPO in 2012. He and his wife, Priscilla Chan, in 2013 had decided to undertake a multi-million dollar renovation of the home. It included adding a wine room, wet bar, laundry room and greenhouse, among others.
Why Has Zuckerberg Sold The House?
The reason for selling the house is not clear. However, in 2016, SFist had reported that disgruntled neighbours were up in arms over the parking spaces that his security detail permanently occupied.
According to a January 2016 letter from an anonymous neighbor said: “Hi Neighbors. I’m sure you all agree that it can be cumbersome living next to Zuck. I think we’ve all tried to be as patient and civil as possible during the very long construction, the noise, the trash, the blocking of streets, etc. Now that all that circus is done, we are left with 2 silver SUVs permanently occupying desirable parking spots”, according to a report in the New York Post.
What is Zuckerberg’s Networth?
The net worth of Mark Zuckerberg currently stands at $61.9 billion, according to the Bloomberg Billionaires Index. This is as compared with the $142 billion valuation in July 2021, when he was the third richest person on Earth. Currently, he is at number 17 among the richest people on Earth.
Zuckerberg’s wealth has fallen by over 50 per cent in 2022 after the record-breaking plunge of Meta shares. In July 2021, the price of Facebook’s shares was about $350, with a market capitalisation of nearly $950 billion. Now, the price stands at $166. Zuckerberg held about 16.8 per cent shares of Meta Platforms in December 2020. Meta Platforms is the parent company of Facebook.
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