Island home sets new Bay Area record

The Belvedere Island mansion sold for $47.5M
September 13, 2015 12:06PM

The West Coast home of a billionaire has sold for $47.5 million, shattering local sales records. The record sale in the San Francisco Bay area is just $35 million.

The historic mansion on Belvedere Island in the San Francisco Bay is known as Locksley Hall, and it underwent a $30 million renovation, according to Yahoo. It has three stories, totaling 9,200 square feet, four bedrooms and nine bathrooms. It also includes a one-bedroom, one-bathroom apartment.

The seller was Robert Friedland, a miner of precious metals who bought the Marin County mansion in 1995 for $5.5 million.

The home originally hit the market asking $70 million. And it nearly sold for $65 million in 2007, before the housing market collapsed and the mansion fell out of escrow, according to Yahoo.

At $47.5 million, Locksley Hall sold for nearly twice that of Belvedere’s previous record holder.

The mansion was built in 1904 and has 360-degree views that include the Golden Gate Bridge, Angel Island and the San Francisco skyline. [Yahoo]Christopher Cameron