Record-Setting Pac Heights Home Sold for $38 MillionJune 20, 2017
As we first reported last week, the 12,000-square-foot spec home at 2712 Broadway, which had been on the market since the end of last year with a $40 million price tag, sold “in a battle with multiple bidders,” according to Pacific Union’s PR team.
And while the final contract price for the Billionaires Row home was not officially released, a plugged-in reader quickly proffered a $38 million contract price, a price which we couldn’t verify at the time.
But having since reviewed the home’s deed and tax records, the $38 million sale price for 2712 Broadway was spot-on and it’s officially the most expensive home sale on record in San Francisco, displacing the 2013-era sale of 2950 Broadway for $35 million. (Keep in mind that 2950 Broadway has since been undergoing a major remodel.)
For those quoting Zillow’s reported $42.9 million sale price for 2712 Broadway, their analytics (and reported sale date) are simply wrong.
And in terms of the buyer, while his or her identity remains hidden behind the “Riva” LLC, for which a CPA in Palo Alto is the only registered contact, if our aforementioned reader – who correctly pegged the sale price – is correct, the buyer hails from Hong Kong Taiwan.
UPDATE: Another reader pegs the buyer as the co-founder and CEO of Nvidia, who was born in Taiwan but raised in Oregon and is an alumnus of OSU and Stanford as well as a U.S. citizen.
Comments from Plugged-In Readers
Hmmm…battle with multiple bidders and it went under asking. Right.
Yeah, how does a battle of bidders result in a price lower than asking? That is indeed a new one.
Well, what does asking price have to do with bidding price? Please try to imagine a scenario where two are trying to outbid each other, not trying to outbid the original asking price.
I have no inside knowledge of this deal, but probably went something like….
Offer one comes in, lower than asking (perhaps by a lot). Party #2 is hovering, has pulled disclosures, seen multiple times, listing agent calls their agent and alerts them that an offer has come in. Party #2 then submits their offer, also under asking. Agent negotiates them as high as they can, and then seller takes the higher of the two.
I hope someone buys the home to the left and build the mirror image of this one. Feels like half a home. Also, word around town is that the buyer is local to the bay area now. Although born in the region claimed, not from HK.
Oops — what I remember is one of the Chinese states, so maybe Taiwan? Though not really relevant, I guess, if the buyer plans to live in the house and not just use it as an (expensive) escape hatch.
Taiwan is a “Chinese state” as much as Australia is part of the “British Empire”
Sorry, but didn’t mean, nor did I say, People’s Republic of China. To me, Chinese states include Taiwan, PRC, Singapore (yes, there are a lot of other ethnicities there, including Malay and Indian, plus assorted Brit hangers-on — oh! once part of the British Empire! — but, mainly chinese who emigrated from southern mainland), and Hong Kong (in transition).
Oh — and you might be aware that Australia is part of the Commonwealth of Nations.
This time with No Parking signs to prevent any trucks from ending up in the photo. Smart!
Why are the glass fencing panels not evenly sized? The whole facade is too contemporary and already looks dated. It should have been pushed much more modern. The inside is nice, though.
Wow, this sold for more than that massive SV estate…
Location, location, location, right?
Jensen Huang is the buyer. False rumors run rampant on here. The buyer is American. Born in Taiwan, but a US citizen.
i hope this purchase is not an indication that he’s cashing in on the recent exploding wealth of his company and riding into the sunset; my shares of NVDA are still counting on him.
The holding company of the LLC is of relevance to the chip that turned the entire company around.
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