San Francisco Mansion Shatters Overbidding Record After Selling $10 Million Above Asking

A San Francisco mansion has sold for $28.5 million, an eye-watering $10 million above the home’s $18.5 million asking price. The eight-bedroom, seven-bathroom home, located at 20 Cherry St., was on the market for just 20 days before its record-breaking purchase closed on Oct. 22, showcasing the intense competition in San Francisco’s luxury housing market. The bidding competition has emerged as San Francisco draws talent and wealth tied to the artificial intelligence boom, prompting a modern day gold rush for the Bay Area. The city’s latest AI darling, Anthropic, unveiled its public IPO filing on Monday in what is expected to be one of the largest stock debuts in history. While the potential share price or number of shares offered has not been disclosed and will be determined after a “roadshow” with potential investors, the Claud developer is expected to be valued at over $2 trillion, according to NBC News.

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