Cherry Street mansion sells for $28.5 million in San Francisco

An eight-bedroom mansion in San Francisco's Presidio Wall neighborhood changed hands for $28.5 million on October 22. The sale price exceeded the original asking price of $18.5 million by $10 million. This transaction sets a new record for the city.

The home sits on Cherry Street and was built in 1966. The Whisler-Patri firm designed the structure. SF Gate described Whisler-Patri as one of the city's most active architectural offices. The property features a private garden and a three-car garage. The listing notes the house has an unusually large footprint for San Francisco.

The Janice R Lurie Trust and the Robert A Lurie Trust sold the residence. The San Francisco Business Times reported the home had remained with one family for more than four decades. Robert Lurie previously owned the San Francisco Giants baseball team.

High demand from the artificial intelligence sector is driving up housing costs across the city. The Guardian reported earlier this month that soaring prices make it difficult for residents with six-figure incomes to find homes. The San Francisco Chronicle noted intense competition in the luxury market. Compass data shows that more than 140 homes sold for $1 million or more over their asking price in the first half of 2026. That number was eight in the same period last year.

Competition remains high in September. The Chronicle reported that almost 92% of single-family homes sold above their asking price that month. The Cherry Street sale reflects the continued pressure on San Francisco's real estate market.