Mark Zuckerberg and Priscilla Chan Sell San Francisco Home for $31 Million

Introduction

Mark Zuckerberg and Priscilla Chan are a young couple who have made billions of dollars from Facebook, but they're still just like the rest of us. They want to live in a place that's convenient for their family and easy to maintain. So when they started having children, they decided to move into an unassuming house near San Francisco's Dolores Park—a move that could end up being good news for all of us who love living in Silicon Valley.The Facebook founder and his wife bought the five-bedroom, 5.5-bathroom home for $10 million in 2011. They spent another $13 million renovating it, and now they're selling it for a cool $31 million.

Their new digs are located just over a mile away from their old house, but that doesn't mean they're going to be spending more time on their feet than usual—Zuckerberg has also purchased another property nearby that he plans on using as an office. But why is Zuckerberg moving? It's not hard to see that the area surrounding the couple's old home has changed dramatically in the past few years. With a median household income of $127,000, Dolores Park is one of the wealthiest neighborhoods in San Francisco—and it's getting pricier by the day. The average price per square foot in this area has increased by nearly 50% since 2011, and there are currently only 71 homes on the market here (compared with 245 at last count).

Mark Zuckerberg and Priscilla Chan, the billionaire Facebook founder and his wife, sold an unassuming house near San Francisco's Dolores Park for $31 million.

The couple bought the home in 2012 for $7 million and spent several years renovating it before moving in with their daughter Max. They also used to own a second house nearby that they sold last year for $9 million. The four-bedroom, three-and-a-half bath home sits on a half acre of land and has views of Twin Peaks, San Francisco Bay and beyond.

The couple bought the two-bedroom property in 2014 for $19 million. The home was first listed for sale at $30 million but dropped to $25 million before being sold last week to a pair of real estate investors who already own houses in Beverly Hills and Los Angeles’ Pacific Palisades neighborhood. The couple has owned the house for more than two decades, and they spent several years renovating it before moving in with their daughter Max.

The couple bought the house in 2013 for $10 million and spent another estimated $18 million renovating it.

Zuckerberg and Chan chose to sell their home because they were expecting their first child, who was born on June 6th, 2017. They purchased a new home in Los Altos Hills, California that they plan on using as a family retreat after they have kids. Zuckerberg, Chan and their daughter Max moved into the home in December 2016.

The family lives on the first floor of the house, while a full-time staff of four is responsible for taking care of it. There is also an additional staff that comes in once a week to clean and maintain the property. Zuckerberg and Chan purchased the home for $9 million and spent another estimated $18 million renovating it. The house has seven bedrooms, nine bathrooms, a four-car garage and comes with an outdoor pool, spa and putting green.

The couple bought the house because they were expecting their first child and wanted more space.

The couple had been looking for a home in the city and chose to buy in San Francisco because they wanted to be close to Zuckerberg's parents. They also wanted a house with a yard for their children and lots of space, as well as privacy.

The couple purchased the property for $31 million in 2012. When Zuckerberg and Chan were expecting their first child, they decided it would be best if they sold their current home and moved somewhere else (or so we assume).

Zuckberberg and Chan gave their real estate broker a list of houses to look at but ended up buying an unlisted home.

The couple was interested in living in San Francisco, so they started looking for houses. They wanted to buy a home close to their office, as well as have space for a family of three. They also wanted something that would be easy to sell when they moved on from Facebook (which is notoriously difficult).

Zuckberberg and Chan found the home on an unlisted rental website called Zillow Group Homes, where owners list their properties without any restrictions or obligation to show them around. This made finding an appropriate property easier than it might have been otherwise; Zuckberberg had only seen photos of properties he didn't want before buying his current house—and he didn't even know what neighborhood it was located in until after purchasing it!

The house is a short walk from Dolores Park, which is known for its sweeping views of San Francisco Bay and Mission District skyline.

The house is a short walk from Dolores Park, which is known for its sweeping views of San Francisco Bay and Mission District skyline. It was renovated by the couple in 2013 and sold for $31 million in 2016. At the time of writing, it’s still unclear what exactly Zuckerberg plans to do with his new property. He reportedly has plans for a teahouse and garden; he wants visitors to interact with nature while also taking advantage of its views. Zuckerberg’s private residence is located at 156 Harvard Avenue in Palo Alto, California.

The home was built in 2009 and has seven bedrooms, six bathrooms, five garages and more than 8,000 square feet of living space. It sits on a 2-acre lot with panoramic views of the city. The house was designed by renowned architect Peter Marino, and it features modern decor, large windows and walls of glass that let in loads of natural light. The kitchen has stainless steel appliances, white marble countertops and a farmhouse sink; there’s also an outdoor dining area with a fireplace for entertaining.

The couple has a second home nearby that they bought in 2016 for nearly $15 million.

Zuckerberg and Chan have a second home in San Francisco, purchased in 2016 for $14.9 million. The 7,500-square-foot house on Dolores Street has 7 bedrooms and 8 bathrooms, as well as two cars parked in the garage (a Bentley and a Tesla). The couple also owns a massive home in Palo Alto, which they purchased in 2013 for $10 million. The 9,000-square-foot house sits on a 1.17-acre property and has seven bedrooms, 8 bathrooms and an outdoor pool with views of the San Francisco Bay. It’s not yet clear whether Zuckerberg plans to sell these properties or keep them as investment properties.

The couple's first house is also on Dolores Street but it's smaller than their current residence—only 6 bedrooms and 4 bathrooms—and costs about $4 million less than its new neighbor: about $3 million less to be exact. The couple has two homes in Palo Alto. Their first was purchased in 2012 for $7 million and is located near Stanford University. It has 6 bedrooms, 7 bathrooms and a swimming pool. They also have another house, which cost them $5 million, that was purchased in 2013. The 5-bedroom, 4-bathroom house sits on 2 acres of land—that's almost twice the size of the average American home!

Mark Zuckerberg just sold a Palo Alto home for $7 million under market value.

The house, which was built in 1939 and has five bedrooms and four baths, is not in the Palo Alto school district. It's also within walking distance of downtown Palo Alto's restaurants and shops—and it has a lot of rooms, including two large ones that can be converted into an office or home theater room. The current owner purchased the property in 2013 for $3 million (it went up by about 25 percent over the past few years). But Zuck has had it on the market for months and even dropped the price from $7.3 million to $6.9 million. It's unclear whether he was hoping to flip it or just wanted to buy something more affordable—but either way, the sale will likely be a good deal for whoever gets their hands on this property! It's unclear whether he was hoping to flip it or just wanted to buy something more affordable—but either way, the sale will likely be a good deal for whoever gets their hands on this property!

Conclusion

Mark Zuckerberg just sold a Palo Alto home for $7 million under market value. The billionaire Facebook founder and his wife, Priscilla Chan, purchased the house in 2013 for about $10 million and spent another estimated $18 million renovating it. The couple sold the home to an unidentified buyer on Thursday, according to public records. The sale was made through a limited liability company called Chan Zuckerberg LLC.