Eight-bedroom mansion listed at $18.5m sold for $28.5m and has a private garden and three-car garage
A San Francisco estate sold for $10m above its listing price this month in a new record for the city as the artificial intelligence boom continues to drive up real estate prices.
Located in the city’s tony Presidio Heights neighborhood, the eight-bedroom mansion was listed at $18.5m on 2 October and ultimately sold for $28.5m on 22 October, according to the property’s listing.
It was built on Cherry Street in 1966 with a design from the prominent city firm Whisler-Patri, which SF Gate described as previously one of San Francisco’s “most active architectural offices”. The property has an unusually large footprint for the city, according to the listing, including a private garden and three-car garage.
Good. I hope the idiots lose their shirts when this all goes tits up.
The only thing that drives up real estate, is greedy sellers and inertia.
They want to act like a boom is happening and everyone wants to live there…
But that’s just not true:
After a sharp decline during the pandemic, the San Francisco metro area’s population failed to grow again in 2025, despite a swelling boom in AI. Unlike in almost every other major metro in the country, that’s left the region’s total population well below its 2020 level, according to newly released U.S. census estimates.
The number of residents in the San Francisco metropolitan area, which also includes the East Bay, Peninsula and Marin County, was still 2.6% lower in July 2025 than it was in April 2020, the most recent metro-level data show. Among metro areas with more than 1.5 million residents, that population loss is outpaced only by Los Angeles, which was down 2.7%.
https://www.sfchronicle.com/bayarea/article/population-san-francisco-bay-area-22079937.php
The reason mansion prices are going up is rampant wealth inequality. The people with the most money have more than they can spend, so they just inflate prices on the stuff they can afford. Meanwhile workers get such a small slice they’re cramming multiple people in studios or doing ridiculously long commutes.
This system isn’t sustainable
