Laurene Powell Jobs' acquisition of a $70 million mansion on Billionaire's Row achieves a new high for San Francisco, setting a record for the most expensive home sale in the city's history. The purchase by the billionaire philanthropist surpasses the former record of $43.5 million for another Pacific Heights property in 2021 which was one block away. The monumental transaction for the 17,300-square-foot Spanish Revival estate at 2840 Broadway Street was carried out off-market, as The Real Deal reports.
Previously owned by Sloan Lindemann Barnett and her husband Roger Barnett, the mansion, in the heart of one of San Francisco's most coveted strips that houses the likes of heirs to The Gap fortune, finance moguls, and tech leaders, was last purchased for $33 million in 2011. The off-market negotiation resulted in a sale price significantly lower than the $100 million initially sought by the sellers.
According to a SFist article from 2021 the previously record-setting $43.5 million mansion was just one block down, at 2920 Broadway. SFist notes that prior to that sale, the owners sought in 2003 to surpass the $40 million mark, but it only fetched $29.9 million in its 2005 sale.
The 2840 Broadway estate once owned by movie-theater heiress Georgette "Dodie" Rosekrans has been cited by Architectural Digest as "the most beautiful house in America". Its commanding presence next to other noteworthy neighbors, including Oracle billionaire Larry Ellison and Apple's product designer Jonathan Ive, highlights the exclusivity of the area. Laurene Powell Jobs, founder of the Emerson Collective and widow of Apple co-founder Steve Jobs, has a portfolio that is not limited to this latest San Francisco acquisition, with notable investments in Malibu and Russian Hill real estate.
Not without its share of controversy, this particular mansion was at the center of an earlier debate when it was revealed that interior photographs were edited to obscure 33 ancient Khmer statues, reportedly looted Cambodian artifacts held by Lindemann Barnett’s parents. The issue spiraled to the point where, the family returned the sacred relics, as highlighted by the San Francisco Chronicle. Meanwhile, Powell Jobs continues to wield her wealth as a tool for investment and philanthropy, as she has notably stated about her relationship with money. Her financial moves, as emblematic of the upper echelon’s real estate maneuvers, are a testament to the enduring allure and value of property within the prestigious corners of San Francisco.
