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New York

Tech mogul Kyle Vogt buys San Francisco’s most expensive home for $21.8M

The deal is the largest of the year so far in the West Coast city

Kyle Vogt and 2250 Vallejo Street
Kyle Vogt and 2250 Vallejo Street

San Francisco’s most expensive home has traded for $21.8 million to Kyle Vogt, the 30-year-old co-founder of streaming platform Twitch and autonomous driving technology Cruise Automation, Business Insider reported. The deal is the largest of the year so far in San Francisco.

The seven-bedroom home, a contemporary-style mansion on one of San Francisco’s most elevated streets, dates back to 1901 and was originally built for fish-packing mogul James Madison.

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The three-story, 9,095-square-foot property, at 2250 Vallejo Street, was first listed for sale with an asking price of $28 million in November 2015 but had its price slashed by $3 million this spring. Vogt appears to have negotiated an even better deal. At the time of the sale, the home was the priciest available to purchase in the city, Business Insider noted.

It’s no wonder Vogt has cash to burn. He sold Cruise to General Motors for approximately $1 billion earlier this year and Twitch to e-commerce giant Amazon for $970 million in 2014. [Business Insider] — Katherine Clarke