Presidio Heights is proving to be a center of gravity as luxury housing supply in San Francisco vanishes and the city’s well-to-do scramble to claim their slice of the artificial intelligence industry’s nerve center.
On the same day last week, the city recorded two home sales in the wealthy neighborhood for $9.2 million and $10 million.
The first reflected the fortunes being created by the AI industry. Venture capitalist Kenneth Wallace and his wife, Moriah Lewis, sold their five-bed, 4,755-square-foot home at 3875 Clay Street for $9.2 million. Josh McAdam of Sotheby’s International Realty represented the seller. The property last sold for $6.8 million in 2021.
The buyer initially kept their name hidden behind a Delaware-incorporated LLC named after the property’s address. However, according to public loan documents, the LLC is managed by Daniel Berrios and Kimberly Tan, a couple in their early 30s who graduated from Stanford into the San Francisco tech sector. Berrios works on special projects at OpenAI, and Tan is an investing partner with blue chip venture capital firm Andreessen Horowitz. Wells Fargo Bank provided a $5.4 million loan for the purchase.
Ten blocks east, sellers Herbert and Shwu-Ling Wei sold their six-bed, 5,000 square-foot home at 2881 Jackson Street for $10 million. Kyle Vineyard, a CPA with Realize Tax Advisors, is the trustee of the buyer, RKLA Trust. It is unclear whether Vineyard’s involvement is purely professional or if he’s connected to the trust.
The home last sold in 2014 for $6.8 million.
Presidio Heights, the neighborhood that runs along Presidio Park at San Francisco’s north end, has experienced a hot streak during the first half of 2026. Earlier this month, two mansions in the area sold for a combined $32 million, marking the fourth and fifth sales this year to eclipse $10 million. There were seven sales above that benchmark in Presidio Heights in all of 2025, according to Zillow data.
San Francisco, where the median home sale fetches $2.2 million, is dealing with its own version of champagne problems: a mansion shortage. The AI boom has attracted a wave of high-paid employees, apparently leaving the city with more millionaires than mansions. Steep capital gains taxes have made some mansion owners hesitant to let go of their property. Others are holding out for the expected spike in luxury home demand following Anthropic and OpenAI’s initial public offerings of stock, which are expected to come later this year.
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