A mansion on San Francisco’s “Billionaire’s Row” just became the second-most-expensive home sale in the city this year.
The property at 2799 Broadway sold Aug. 16 for $29.15 million after more than 650 days on the market and at least three price cuts, according to a listing on CoStar’s Homes.com. The house was listed by its owners, tech founders Michael and Xochi Birch, in September 2022 for $35 million.
The roughly 11,600-square-foot house was purchased by limited liability company Stone Real Estate Holdings, public records show. The LLC was established in March, according to state filings.
It’s the second priciest home sale in San Francisco this year behind billionaire Laurene Powell Jobs’ record-breaking $70 million off-market purchase last month, listing agent Deborah Svoboda of Sotheby’s Internationl Realty told CoStar News. Jobs’ house is across the street from 2799 Broadway.
Dan Dodd of Inspire Real Estate represented the buyers. He told CoStar News his clients visited the house three times before deciding to purchase the property.
"My clients had been looking since the beginning of the year for a home that met their families needs first, but also worked well for entertaining," Dodd said. "The superior location of the home and the layout ultimately proved to be the deciding factors for my clients."
The seven-bedroom, nine-bathroom house includes panoramic views of San Francisco, a roof terrace with a spa and a British-themed pub and billiards room.
The Birches, known for founding social networking website Bebo in 2005 and starting exclusive social club The Battery, bought the home in 2008, according to public records.
The couple originally listed their San Francisco estate for $39 million in 2019, media outlets reported at the time. Svoboda told outlets the couple was selling to downsize and relocate. She also said the property received two cash offers during the COVID-19 pandemic, but both deals were rejected.
Now, the Birches own a property in Sonoma and “maintain a San Francisco residence,” Svoboda told CoStar News.