Billionaires’ Row Manse Sells for First Time, at $27M

An LLC with a West Hollywood address has bought a 10,200-square-foot mansion on San Francisco’s Billionaires’ Row in a first-time sale for $26.5 million — $11.5 million less than the initial ask.

Closed CI Investments LLC was the buyer, according to city records. The Delaware-formed LLC lists a West Hollywood P.O. Box as its mailing address and the San Francisco address of real estate law firm Reuben, Junius & Rose, as its principal address, according to state filings.

Compass agent Pete Rodway represented the buyers, who he declined to name, and further said he could not speak about the sale due to a non-disclosure agreement. But he did say that he had a “huge amount of confidence in the continued resilience of the higher-end residential market,” especially given renewed buyer activity.

“We have not seen this level of buyer activity since the fever pitch market of 2022, which continues to be fueled by local buyers in the tech sector and adjacent industries,” he said, adding that properties are moving quickly, sometimes with multiple offers, and closing off-market.

The family of the late philanthropists Fritz and Lucy Jewett sold the landmark home at the top of the famed Lyon Street Steps at 2990 Broadway in Pacific Heights, next to the Presidio, the San Francisco Business Times reported.

The sale of the home, known as the Jewett House, was the first since the property was built in 1987.

George Jewett had initially listed his parents’ home in June for $38 million, making it the priciest home listing in San Francisco, then cut the price in response to recent sales along the luxury Row. Lucy Jewett died in 2023 at age 94. Her husband Fritz died in 2008.

The Jewitts, heirs to the Weyerhaeuser lumber fortune, built the four-bedroom, 10-bathroom estate in 1987, where they hosted such guests as Nancy Pelosi, former President George H.W. Bush and Britain’s Prince Philip.

The last house on Outer Broadway, designed by Sandy Walker, has sweeping views of the Golden Gate Bridge, Marin Headlands and Alcatraz.

The white mansion with curved bay windows has a grand entryway with a dramatic winding staircase, solarium, and hardwood and marble floors across numerous living rooms with 13-foot ceilings.

There’s a full-service bar, library, butler’s pantry and a seven-car garage. An outdoor balcony runs the width of the house, which has a gym and a spa and overlooks a garden.

Brokers Joe Lucier and Stacey Caen of Sotheby’s International Realty held the listing but declined to comment on the sale.

Its sale doesn’t come close to the home price record for San Francisco, set in July when Laurene Powell Jobs closed on a 17,300-square-foot mansion at 2840 Broadway for $71 million. In 2021, a home down the street from the Jewetts’ sold for $43.5 million.

This year’s official home price record belongs to a mystery buyer, who used an LLC for the off-market purchase on Jan. 31 of an 8,300-square-foot home at 260 Sea Cliff Avenue for $30 million, The Real Deal reported. The seller was Douglas Shorenstein, former chairman and CEO of Shorenstein Properties.

The unofficial home price record in San Francisco belongs to Sam Altman, who bought the Russian Hill home next door to his own for what was reported to the multiple listing service to be $38.5 million — but listed in city records at $14 million.

This year ushered in a booming start for luxury properties in San Francisco, with a 40 percent jump in luxury home, condo and co-op sales from a year earlier, according to the Business Times.

— Dana Bartholomew and Emily Landes

Update: This story has been edited to include information The Real Deal subsequently obtained on the buyer, as well as a comment from the buyer’s agent.