A home just blocks from Billionaire’s Row in San Francisco’s Pacific Heights neighborhood has sold in an off-market deal for $23.8 million, marking the only San Francisco sale to break the $20-million mark so far this year.
The deal for 2350 Broadway is also higher than all but the priciest deal of 2023. Davide Pio of BCRE represented the seller, while Neill Bassi of Sotheby’s International Realty represented the buyer, 2350 Broadway LLC. Bassi declined to comment.
Property records show the seller of 2350 Broadway was Michael Bykhovsky, founder of mortgage analytics company Applied Financial Technology. Since 2019, he has been an executive at wireless technology company Artemis Networks.
Bykhovsky bought the home for $7.8 million in 2010 and spent the following two years and more than $1 million renovating it, according to city permits. The renovations included an in-ground lap pool on a newly built-out lower level, opaque glass catwalks in the hallways of the upper levels, four-car parking in the attached garage and view balconies on each floor.
Pio of BCRE is typically a commercial/investment agent, and said his longtime commercial client brought him in to help them sell their residence at 2350 Broadway when they were looking to downsize early this year.
Together, they decided to start out with a $26 million list price and bring in an invited list of agents for a tour before putting it on the MLS, he said.
“Let me try to see whoever wants to jump the gun and get a little bit of exclusivity,” he said of the strategy. “It ended up working out for these buyers because they’re very private. They wanted something before the public got to see photos, so it ended up working to our advantage.”
Pio said he reached out to “basically anyone and everyone that has touched anything over $10 million” to come on an agents’ tour in February and approximately 75 people turned out.
Some came back with their clients for private tours when he was not always present, he said, but he believes the view and the turnkey nature of the six-bedroom, eight-bath home, which was built around the turn of the century, were the main attractions.
“It’s pretty insane,” he said of the home’s north-facing views of the Bay, the Palace of Fine Arts, the Golden Gate Bridge and Alcatraz from all five floors of the home.
Two buyers put in offers close to the list price, he said, and the seller was willing to entertain both.
In the end, 2350 Broadway LLC was the winner. The sale went into contract Feb. 11 and closed on March 27, according to public records.
The LLC is registered to the same address as Apercen Partners, a tax firm that has represented tech billionaires Mark Zuckerberg and Sean Parker on previously real estate deals in the Bay Area and across the country, according to state business records.
After the home went into contract, it was discovered that the house was not anchored to the foundation — though it had been advertised as such — which is why the sales price ended up a few million off from the asking, Pio said. He dealt directly with the agent, and never met the buyer, he said.
Pio said his clients still love the home, but decided to get a smaller property in the city now that they are empty nesters. Though the renovations, which kept the historic facade intact and were designed by luxury home architect John Maniscalco, occurred more than 10 years ago, Pio said they still hold up.
“They just did a phenomenal job making the whole thing feel like an old house from the outside, but a brand new house from the inside,” he said.
This story has been corrected to reflect that the buyer is unknown. A previous version of this story had stated that an LLC tied to Sean Parker was the buyer, but after publication, a representative for Parker said “there is no affiliation between any Sean Parker entity and 2350 Broadway LLC.”
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