San Francisco’s most expensive home of the year just hit the market and is expected to draw interest from potential buyers flush with cash from the AI boom.
The home at 2770 Broadway officially went on the market on Monday with a nearly $35 million price tag.
The seven-bedroom, 6.5-bathroom home is already drawing inquiries, listing agent Neil Ward of Compass told SFGate.
Located in the exclusive Gold Coast neighborhood, the home sits on a 50-foot-wide, double-width lot, with breathtaking views of the San Francisco Bay, Golden Gate Bridge, Palace of Fine Arts, and other famed landmarks, according to the listing.
The home was designed in 1894 by Reid & Reid, the same architectural firm responsible for the iconic Fairmont Hotel. While many Gold Coast homes of this age, most of which are generational properties, need complete renovations after being sold, Ward told SFGate that the potential buyer of 2770 Broadway can “walk in with their toothbrush and their furniture.”
A 2007 renovation by architect Jim Jennings and Van Acker Construction brought together the home’s original turn-of-the-century grandeur with the functionality needed for modern family living.
The home’s 9,000 square feet are spread across four floors, where prospective buyers will find herringbone-patterned floors, arched openings, and fine millwork, all evidence of the home’s architectural greatness.
The property also features a two-car garage, wine cellar, and sport court in the rear of the house.
The home was purchased by San Francisco business executive David Chamberlain in 1989, according to SFGate. He was CEO of companies such as Shaklee, Stride Rite, and Genesco, but also had a deep connection with his city, serving as president of the San Francisco Opera and the San Francisco Chamber of Commerce.
After his death earlier this year, Chamberlain’s two daughters decided to sell the home.
Ward told SFGate that he thinks the property will sell for its $35 million asking price, which would make it the most expensive home sold on the multiple listing service in San Francisco this year.
“It is a really, really rare product that does not hit the market,” Ward said.
Between the home’s turnkey condition and the city’s competitive ultraluxury home market, Ward thinks the home’s time on the market will be brief.
“I’ve done this for over 35 years. I was here for the dot-com boom and everything in between. Nothing comes close to what’s taking place right now,” Ward said.
San Francisco is experiencing what some real estate brokerages are calling a “mansion shortage,” according to NPR. The AI boom, much of which is concentrated in San Francisco, has caused demand for luxury single-family homes in the area to skyrocket, while the supply remains stagnant.
Home to major AI companies such as OpenAI and Anthropic, the San Francisco market had a median of just 37 days on the market, according to Realtor.com data, two weeks less than the national median of 61 days.
Some listings have had over 50 offers, and 44 homes were sold for at least $1 million over asking in June alone, according to a report from NPR.
In October, the sale of a home in San Francisco’s Presidio neighborhood broke the record for the highest sale above asking. The 1966 midcentury home was listed for $18.5 million and sold for $28.5 million, an eye-watering $10 million premium.