Pacific Heights notches top price in SF this year

Venture capital firm Greenoaks pays $17.6M for 115-year-old mansion near Presidio

2855 Pacific Avenue (Realtor, iStock)
2855 Pacific Avenue (Realtor, iStock)

Greenoaks Capital now accounts for the priciest buy in San Francisco’s residential market this year, paying $17.6 million for a 115-year-old mansion in the Pacific Heights.

The venture capital firm got the property at 2855 Pacific Avenue late last month, according to records filed with San Francisco County. The nine-bed, nine-bath home is on a 5,107-square-foot lot a few blocks from the Presidio.

The seller is the Silver Springs Revocable Trust, which is managed by Jonathan M. Burgstone. The entity bought the property for $7.65 million in 2007. The home was previously owned by Bruce Nollenberger, the head of investment management firm Nollenberger McCullough.

The deal ranks as the most expensive home sale in San Francisco so far this year, according to Zillow. Previously, the priciest transaction was for a Presidio Heights mansion that had ties to the family behind Schlage Locks. That property, at 3747 Jackson Street, sold for $15.75 million on April 20 after less than a month on the market. It was listed in late March with an asking price of $15.5 million.

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Another Pacific Heights mansion had set the pace at the top of the luxury market earlier in the year. That property, at 2500 Broadway, sold for nearly $14 million in March. It was the priciest home sale in the city at the time.

The Pacific Avenue property was listed on May 28 with an asking price of $17.85 million. San Francisco-based Greenoaks is a venture capital firm that invests in fintech, health tech and retail start-ups. Its portfolio includes start-ups such as Canva, Stripe, Robinhood, Discord and Databricks, its website shows.

Greenoaks bought the home in Pacific Heights through an entity called The 2855 Pacific Avenue Trust.

The firm did not respond to a request for comment.