For a guy who used to run Charles Schwab, this was about as close to a financial shrug as you could it. Former CEO David Pottruck has sold his three-bedroom, three-bath condominium at Lumina in Rincon Hill, and after roughly a decade of ownership, he walked away with only about $18,300. The high-floor residence changed hands on July 15 for just under $6.7 million, a near-breakeven outcome that sticks out in a city where single-family homes have been notching far bigger gains. It is one more reminder that San Francisco’s condo market has not ridden the same recovery wave as standalone houses.
According to The Real Deal, Pottruck's three-bedroom, three-bath unit closed on July 15 for just under $6.7 million, netting roughly $18,300 after costs. The buyer is listed in property records as Ledion Bitincka, chief technology officer at AI firm Cribly, and his wife, Vinela Bakllmaja, a local oral surgeon.
The unit and the building
The corner residence sits on the 26th floor of one of Lumina’s towers and is recorded at about 2,690 square feet on MLS records. Lumina, developed by Tishman Speyer and completed in 2016, contains more than 650 units and a sizable amenity package that helps drive high HOA costs for owners. The MLS entry for the property shows the unit's size and past listing history; see the listing on Compass.
Why the gain was so small
Market-level data help explain the slim return. The Real Deal cites Altos Research showing that median condo prices peaked around $1,200 per square foot in 2020, then slid to roughly $950 per square foot in 2025 and only edged toward $990 per square foot early in 2026. “They have a long way to climb again,” Compass economist Mike Simonsen told The Real Deal, noting that demand for condos is only now starting to firm up.
Pottruck’s own paperwork highlights how choppy the ride has been for big-city condo owners. San Francisco Assessment Appeals Board documents list “DAVID S POTTRUCK REVOC TR” and note an appeal tied to 338 Main St #26B, indicating owners have pushed back on assessments in recent years. Those public records add a paper trail showing how owners and assessors have wrestled with value swings since the building was delivered.
Market takeaway
Citywide reports show houses have outperformed condos this cycle, a split driven by limited single-family inventory and concentrated demand for homes with outdoor space. Prism Group's April 2026 market report found median house prices jumping while condo medians were more variable, a dynamic that helps explain why even an expensive Lumina unit might only yield a modest gain. High HOA dues, a deeper resale pool inside large developments, and the steady supply of new condos all mean sellers have to watch timing and carrying costs closely.
For buyers and sellers, the Pottruck sale underscores that headline wealth and big-name owners do not guarantee big profits on every asset class in San Francisco. Luxury condos can still make comfortable long-term homes, but in the short run, their resale math often looks very different from what plays out in the single-family market.
