Foresite Capital CEO James Tananbaum has sold his long-time Presidio Heights home at 3052 Pacific Avenue for $31.2 million, according to property records. The six-bedroom, five-bath home has just over 7,000 square feet, which gives the sale a price per square foot of more than $4,400.
The deal took place off market at the end of September but it has not been reported until now. It is the second-priciest residential sale in San Francisco this year, after 3450 Washington Street, which sold for $34.5 million in March, just a few blocks west of 3052 Pacific.
The sale includes the quarter-acre lot as well as a long narrow parcel that connects the house, which backs up to Broadway, with car access from Pacific.
The buyer is Circle of LLC and deed records show the mailing address as the same Financial District location as Iconiq Capital, in care of its Senior Vice President Christopher Moy. The investment firm with an apartment ownership and management arm has $80 billion under its management and invests on behalf of institutions and family offices, according to its website.
Tananbaum and his wife Dana bought the Presidio-adjacent residence for $15 million in 2006. At the time, the 1924 Spanish Mediterranean-style home, built by famed movie palace architect G. Albert Lansburgh as his private residence, had a grand foyer with vaulted ceilings and a mezzanine, six fireplaces, his-and-hers dressing rooms in the primary suite, a lower level ballroom and a garden designed by pioneering modern landscape designer Thomas Church, according to a marketing site from the time.
Soon after buying the home, the health care investor pulled permits for a $2.5-million full-house remodel, including adding a swimming pool, according to permit records from the city’s Department of Building Inspection. It appears from Google Earth images that the pool and a pool house with a new home gym below have replaced the gardens along the western property line.
Luxury sales have picked up in the city of late, especially in Presidio Heights, with actress Julia Roberts finding a buyer for her $11.3 million home in a matter of weeks and three homes on the exclusive Presidio Terrace cul-de-sac selling in October as well.
Foresite Capital lists 115 pharma and health data companies in its portfolio, according to the company’s website.
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