San Francisco, CA
See San Francisco’s Priciest Home Sales in a Soft 2023
Only one home traded for more than $30 million this year in San Francisco, amidst an overall luxury market slowdown that finally started turning around this fall.
The luxury home market was held back by all the “doom loop” talk this year, said Compass Chief Market Analyst Patrick Carlisle, a description that he said “absurdly overstated the actual state of San Francisco, though the city is certainly wrestling with some serious social and economic issues.”
For 2023, sales of $5 million-plus homes in SF are down about 20 percent compared to 2022, according to his data.
“If people read enough pessimistic articles, it starts to weigh on market psychology,” he said via email. “Personally, I believe SF will rebound from this downturn as it has from other downturns over the last 50 years — including the hyper-inflation of the early 1980s, the savings & loan crash/1989 earthquake, the dotcom crash, and the subprime bubble crash — some of which were as serious as or more serious than current conditions.”
Below is a look at the big residential trades that happened in the city despite the psychological and economic headwinds.
3450 Washington Street | $34.5 million
Tying the biggest sale of last year, 3450 Washington Street in Presidio Heights went into contract just as the year kicked off. The home, sold by billionaire cloud computer co-founders and married couple Mark Armenante and Young Sohn, was the highest-priced listing in the city when it came to market in September 2022 at $45 million.
The completely remodeled 1930s-era French-Normandy-inspired six-bedroom, 8.5-bath took a price cut to just under $40 million at the end of November 2022, went into contract at the end of January and closed in early March for $34.5 million. The buyer was 3450 Washington LLC.
2750 Vallejo Street | $23.5 million
There was a more than $10 million price gap between the first and second-most expensive sales of the year. Located in Cow Hollow, 2750 Vallejo Street was listed for just under $30 million in May and sold for $23.5 million in August.
The sellers were Alex and Diviya Magaro, according to public records. Alex Magaro is the co-president of investment advisor Meritage Group, which has $11 billion in assets under its management, and he now lives in Austin, according to his LinkedIn profile. The buyer was the 2750 Vallejo Trust.
The six-bedroom, seven-bath with nearly 7,800 square feet was built in 1905 but underwent a down–to-the-studs renovation by Troon Pacific before it sold to the Magaros for $20 million in 2013.
9 25th Avenue | $20 million
The longtime Sea Cliff home of The Wine Group founder Arthur Ciocca was the third-biggest sale in San Francisco this year. Ciocca and wife Carlyse had owned the oceanfront home with a heated pool in its front courtyard since the 1980s, according to property records.
At 7,540 square feet, the five-bedroom, 6.5-bath — with a wine tasting room, of course — had listed for $32 million in September of last year. The price dropped to $28 million in February and closed in early April for $20 million.
The buyer was Mistos Partners, whose address is listed as a home a few blocks away in Sea Cliff that has been owned by George Boutros since the late 1990s, according to property records. As the CEO of San Francisco-based investment bank Qatalyst Partners, Boutros is known for his involvement in big tech sales like the Microsoft purchase of LinkedIn and Slack’s sale to Salesforce.
130 Sea Cliff Avenue | $18.6 million
Another Sea Cliff sale snuck onto the biggest sales of the year list in December. Listed at just under $20 million in late September, the five-bedroom, eight-bath 1920-era home sold Dec. 4 for $18.6 million. Hedge fund executive John Burbank III was the seller, according to public records. He’s the chief investment officer of Passport Capital, which has $4 billion under management. Burbank bought the home for $13 million in 2012. He sold it to the LISO Trust, which lists a mailing address in Teton, Wyoming and trustees Judith Linquist and William Sollee, according to public records.
3410 Jackson Street | $18.5 million
Cloud billing CEO Brian Bogosian sold his Parisian-inspired Presidio Heights property for $18.5 million in early May.
One block off the Presidio Wall, the Sticky.io founder and his wife Lisa bought the five-bedroom, 5.5-bath with more than 7,000 square feet in 2010 for $7.5 million, according to public records. They previously spent time in Paris, and the City of Light was the muse behind their five-year remodel, they told Interiors magazine when the extensive renovation was completed in 2015.
The home was purchased by 3410 Jackson Street LLC, which lists a Dallas mailing address, according to property and state filing records. That address matches the home of real estate attorney John Theirl and his wife Kelly Harris, a CPA who runs a management consulting and recruiting firm “focused on assisting the CFO and CIO suites,” according to its website.
Best of the rest
The rest of the top 10 sales didn’t break the $18 million mark, though at $17.5 million, a penthouse at The Pacific condo tower at 2121 Webster Street was by far the highest-price condo or co-op sold this year and took the sixth-most-expensive spot. It came on the market asking $24.5 million in early 2022.
A Sea Cliff home at 870 El Camino Del Mar that listed for $16.5 million and is currently in contract could make a last-minute entry onto the list but hadn’t closed as of late December. Two quick sales on Presidio Terrace this fall took up two more spots in the top 10. Like those sales, every home in the top 10 was on the north side of town.
The biggest sale south of California Street was 50 St. Germain Avenue, a Twin Peaks seven-bedroom, six-bath with more than 7,600 square feet that sold for just over $9.9 million in January.
The only other home to break $8 million in the city this year was 2 Everson Street, a modern Glen Park mansion built by “Paypal Mafia” member Keith Rabois. He had been asking $12 million when the home first came on the market at the end of 2020. Former Obama campaigner Jim Messina bought the 5,700-square-foot home that centers around an open air atrium in February for $8.7 million.
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San Francisco, CA
Dolphins keep playoff hopes alive with 29-17 win over 49ers, who were eliminated Sunday afternoon
MIAMI GARDENS, Fla. — – Tua Tagovailoa threw for 215 yards and a touchdown, Jason Sanders nailed five field goals, and the Miami Dolphins kept their playoff chances alive by beating the San Francisco 49ers 29-17 on Sunday.
The 49ers were eliminated from the playoffs before the game because of wins by the Los Angeles Rams and Washington Commanders earlier Sunday. The loss ensured that last year’s NFC champions will have a losing season for the first time since 2020.
The Dolphins (7-8) helped their chances of making the playoffs for a third straight season, but will need to win their final two games and get help from losses by the Broncos, Chargers and Colts for that to happen.
Trailing by nine early in the fourth, San Francisco quarterback Brock Purdy found tight end Eric Saubert for a 2-yard score that cut the lead to 19-17, but the Niners couldn’t get past self-inflicted wounds.
After punting the ball back to Miami with 6:45 left, San Francisco was hit with consecutive penalties for illegal substitution, unnecessary roughness and offsides to give Miami 25 yards, helping set up Sanders’ 48-yard field goal that stretched the Dolphins’ lead to five.
The 49ers were penalized 11 times for 90 yards.
Cornerback Kader Kohou then intercepted Purdy on the next drive, after the quarterback was pressured by defensive tackle Calais Campbell. Dolphins running back De’Von Achane sealed it with a 50-yard touchdown run.
Tagovailoa finished 22 of 34. Purdy was 26 of 40 for 313 yards and two touchdowns.
Tyreek Hill’s inconsistent season continued. He caught just 3 of 7 targets for 29 yards and a touchdown, with drops on the first two drives of the game and another on a potential touchdown in the third.
Jonnu Smith caught six passes for 62 yards to set the Dolphins’ single-season franchise record for receptions (76) and receiving yards (802) by a tight end.
Sanders was 5 of 5, including a 54-yarder, which made him 11 of 13 on field goals of 50-plus yards this year. San Francisco’s Jake Moody missed a 41-yarder in the third.
Deebo Samuel caught his first touchdown since Week 6 on a 16-yard score in which he muscled through several defenders on his way into the end zone.
Miami moved into 49ers territory three times in the first half but settled for field goals before Hill’s 3-yard touchdown catch from Tagovailoa that put the Dolphins ahead with 3:20 left in the second.
Purdy then drove San Francisco 67 yards down the field to set up Moody’s 21-yard field goal to cut Miami’s lead to 13-10 at halftime.
Injuries
49ers: LB Dre Greenlaw (right calf), LG Aaron banks (knee) and LT Jaylon Moore (quad) left with injuries. … DE Leonard Floyd played through a shoulder injury suffered in the first quarter.
Dolphins: WR Jaylen Waddle did not play because of a knee injury suffered last week. … CB Kendall Fuller (knee) and LB Jordyn Brookes (quad/knee) left in the second half.
Up next
49ers: Host Detroit on Monday Dec. 30.
Dolphins: At Cleveland next Sunday.
——
AP NFL: https://apnews.com/hub/nflbr/]
Copyright © 2024 ESPN Internet Ventures. All rights reserved.
San Francisco is the only major U.S. city where it’s cheaper to buy a home now than it was five years ago, according to data from real estate listing site Zillow.
Of the 100 largest U.S. cities by population, San Francisco is the single example that saw home values fall between November 2019 and November 2024, based on what the company calls the “Zillow price index.”
The city saw the typical home price decline by 3.7% during that period. All other cities saw prices increase. Across the Bay, Oakland had the smallest increase, with the average home value rising 2.1%. Among other major U.S. cities, prices rose 37.58% in Los Angeles; 38.34% in Austin, and 69.26% in Miami.
Cheaper is one thing. But cheap? That’s a different story.
According to Zillow, the typical home value in San Francisco in November 2024 was $1.26 million, versus $1.31 million five years ago. In 2019, San Francisco had by far the highest typical home price across all major cities, coming in more than 30% over second-place San Jose.
In 2024, San Francisco was one of four cities, all in California, with typical home prices over $1 million.
Kara Ng, a senior economist at Zillow, said San Francisco was an outlier in the first place.
“Five years ago, San Francisco was far and away the most expensive city to buy a home in the U.S.,” Ng said, adding that the pandemic fueled the ability for a highly paid but price-constrained workforce to flock to more affordable areas.
SAN FRANCISCO (KGO) — Holiday help was there for a community in need.
A drive-thru turkey donation drive was held in San Francisco on Saturday, benefitting the San Francisco-Marin Food Bank. It brought a big donation response from the community, coming at a time when the need for food has never been greater.
Holiday turkeys and hams were arriving by the minute at a donation site near St. Emydius Church in San Francisco.
“Makes you feel good. That’s what you’re supposed to do,” said Ron Isola from Daly City.
The rainy weather didn’t stop anyone from showing up and helping out, especially Linda Peppars.
MORE: North Bay food bank issues holiday SOS for donations
“I live in the neighborhood and I just like helping people. God has blessed me. Why not bless other people? That’s the whole thing about life, especially today,” Peppars said.
It’s the 13th year for this turkey drive, started by volunteer Pierre Smit.
“I’m here from a different country. I came with nothing. If I had some some money, I would bring a few turkeys to St. Anthony’s,” Smit said.
It’s now a community-wide effort, benefitting the San Francisco-Marin Food Bank.
Hundreds of turkeys were donated, including lots of hams.
MORE: How Salvation Army’s Red Kettle campaign helps others achieve ‘2nd chance at a 1st-class life’
“We’re currently serving 50,000 households every week. These turkeys and hams will go to some of our agency partners who are putting on Christmas lunches and dinners,” Abbott said.
It comes at a critical time for most Bay Area food banks that responding to food insecurity.
One in six people in Santa Clara and San Mateo are getting help from Second Harvest of Silicon Valley.
That agency is feeding a half million people every month.
In Napa, demand for food assistance has tripled compared to this time last year, and the North Bay’s Redwood Empire Food Bank is serving thousands more families, just in the past five months.
MORE: Toys for Tots aiming to reach 70,000 gift goal in Alameda Co.
“Our number one concern is inflation. We purchase some of the food we distribute. It’s costing us two times what it did pre-pandemic,” Abbott said.
It’s why this food drive is so important.
“It’s hard. Everybody doesn’t have what you have and visa versa,” Peppers said.
As a show of thanks, everyone who donated got a round of applause from volunteers.
Copyright © 2024 KGO-TV. All Rights Reserved.
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