If the gossip is true, San Francisco's most expensive home has finally sold. Trulia reports that Yammer founder David Sacks has purchased the sprawling, unfinished mansion at 2845 Broadway, finally taking it off the hands of Apollo Group and University of Phoenix founder's son, Peter Sperling. The home's history is worth repeating: Sperling purchased it in 2002 for $32 million and began extensive renovation. Apparently, he then became distracted by some other pressing issue and never finished, leaving the 17,500 square foot main home and 6,000 square foot guest home bared down to the studs. He did make time to re-list the home, however—for $65,000,000. Despite grand listing write-ups touting "Italian limestone" and "staggering potential," the mansion failed to attract a buyer for years.
Enter David Sacks: Sachs fits in just fine on Billionaire's Row, his long history of blazing trails in Silicon Valley having most recently ended in selling Yammer to Microsoft for $1.2 billion. And, with the savvy we all hope such a mogul has, he didn't pay full price. Trulia scuttlebutt has the closing at $32,000,000.
At this price, if all these rumors are true, this deal still represents one of the most expensive home sale in San Francisco's history. And that figure doesn't include the projected $10 million in renovation Sacks will need additionally, just to make the home livable. Ah, parade of seven-figure numbers. We feel like asking Google: Is it too late for us to become tech moguls too?
UPDATE: According to tax records, the famed manse actually sold for $20M.
·Tech Mogul Reportedly Buys San Francisco's Most Expensive Home[Trulia Luxe Living]
·Billionaire Row Features San Francisco's Most Expensive Home for Sale[CurbedSF]