A San Francisco mansion in Presidio Heights sold for $28.5m on 22 October after listing at $18.5m on 2 October, fetching $10m above asking price. The eight-bedroom home on Cherry Street was built in 1966 by architectural firm Whisler-Patri and includes a private garden and three-car garage. The property changed hands from the Janice R Lurie Trust and Robert A Lurie Trust, with Robert Lurie a former owner of the San Francisco Giants.
The sale reflects broader competition in San Francisco's high-end housing market. In the first six months of 2024, more than 140 homes sold for at least $1m over asking, compared with eight homes a year earlier. Almost 92% of single-family homes sold above asking in September. The Guardian reported that housing costs have risen steeply enough that six-figure earners struggle to find homes, citing competition driven by high-paid AI industry workers.