Chris Condon/Getty Images; realtor.com
Chalk this one up as another savvy investment. Charles Schwab, founder of the brokerage firm and bank that bears his name, the Charles Schwab Group, also has great real estate acumen.
The financier’s San Francisco home, a modern masterpiece by the notable local architect Gardner Dailey, sold last month for $14 million.
The financial guru had placed his home on the market in October for $15 million. However, he purchased the property in 2012 for $11 million. So even with the discounted sale price, Schwab still comes out on top.
The home appears to have been purchased by the scions of another wealthy family, the Hyatt Hotels’ Pritzkers, Biz Journal reports.
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With 5,400 square feet, the clean lines, walls of windows, and breathtaking city views are the hallmarks of the design. Built in 1941, the property offers three bedrooms and 3.5 baths.
It is secluded and private, set back 60 feet from the street on a gated, double-wide lot. Its layout includes oversized rooms, wide hallways and doors, walls of windows, and well-framed views of gardens, the San Francisco Bay, and the Golden Gate Bridge.
The expansive footprint offers a living room that opens out to the deck, a family room that also opens outside, a formal dining room, and an eat-in kitchen.
A curved staircase leads up to the second floor and the master suite, which offers city views. Additionally, the home includes an office with a fireplace, an attached garage, and an elevator.
The prime location is convenient both to Pacific Heights, above, and Cow Hollow and the Marina below, complete with upscale restaurants, parks, and boutique shops, and easily accessible to downtown.
“To live in a Gardner Dailey home is to live in utmost sophistication,” the listing description proclaims. “Stewardship of this home is a distinction held among prominent San Francisco families, each taking the gravitas of the property to the next generation.”
It seems that the torch has been passed.
Schwab’s business recently made headlines with the announcement that the brokerage firm was moving its headquarters out of San Francisco, where it was founded in 1971.
But for now, the 82-year-old may still have a toehold in the area. He still has a residence in Atherton, CA, a Silicon Valley suburb and one of the nation’s priciest towns. His estimated net worth is $8.8 billion, and Forbes ranks Schwab as the 63rd richest American.
Neal Ward with Compass represented the listing. Rebecca Hoffman of Compass represented the buyer.
The post Sold! Charles Schwab’s San Francisco Home Changes Hands for $14M appeared first on Real Estate News & Insights | realtor.com®.
source https://www.realtor.com/news/celebrity-real-estate/charles-schwab-san-francisco-home-sells/
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