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A mansion in San Francisco’s exclusive Pacific Heights neighborhood has sold for about $70 million, property records show, setting a record for a home in the city.
The buyer is billionaire philanthropist Laurene Powell Jobs, according to The Wall Street Journal, which first reported the deal.
Powell Jobs, founder of Emerson Group and widow of Apple Inc. founder Steve Jobs, has a net worth of $11.4 billion, according to the Bloomberg Billionaires Index. The purchase continues his streak of luxury property purchases in California. Earlier this year, he bought a $94 million estate in Malibu on four acres overlooking the Pacific Ocean, his fourth purchase in the Los Angeles area since 2015.
The San Francisco mansion is located in Pacific Heights’ so-called Billionaire’s Row, and the sellers are Sloan Lindemann Barnett and Roger Barnett, who bought the house for $33 million in 2011. She is the daughter of billionaire George L. Lindemann, CEO of supplement company Shaklee Corp.
The Barnetts did not respond to requests for comment. A spokesman for Powell Jobs declined to comment.
The San Francisco property had not been publicly listed for sale, and news of the off-market transaction surprised several high-end real estate agents in the city.
The deal follows a recent trend of wealthy individuals playing a disproportionate role in San Francisco’s real estate market. Home sales in the city increased 9% in the second quarter from a year earlier, but sales of properties priced at $5 million or more surged 54%, according to data from brokerage firm Compass. The average number of days on market for a property is at a two-year low.
Property records show the Pacific Heights buyer, named Mister Rogers Trust, paid $4.26 million in transfer taxes, which equates to a purchase price of about $70 million. The previous record price for another Pacific Heights mansion in San Francisco was $43.5 million, set in 2021.
Originally built in 1916, the Spanish Renaissance-style mansion has four floors, a two-story courtyard, and a glass roof. The Barnetts hired architect and designer Peter Marino to restore the house, installing four layers of glass on the north side of the house, providing panoramic views of San Francisco Bay, the Golden Gate Bridge, Alcatraz Island, and the city skyline. See Architectural Digest’s 2020 report.
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