Mark Zuckerberg and Priscilla Chan sell their home in San Francisco for $31 million

A spokesman for Mark Zuckerberg and Priscilla Chan confirmed that the couple sold one of their San Francisco residences for $31 million in an off-market transaction.

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According to Zillow, this is the most expensive transaction in San Francisco this year. The 7,386-square-foot property, built in 1928, features four bedrooms and four bathrooms and is located on the outskirts of the city's Mission District and Dolores Heights neighbourhoods. The transaction closed on July 1, but records have just recently become public.

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According to PropertyShark records, the 38-year-old Facebook co-founder and his wife, 37, purchased the home in 2012 for just under $10 million through a California-based limited liability company, SFRP. 

Na'eem Salaam, the Chan Zuckerberg Initiative's vice president of operations, signed a grant document between the seller and the buyer on SFRP's behalf.

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Mr Zuckerberg and Ms Chen were not unrestricted for comment, though a spokeswoman for the group confirmed the agreement.

According to PropertyShark records, the purchase was a Delaware-based limited liability business. Mansion Global was incapable of identifying the buyer further, but Michael M. Gordon, a director at the Wilmington law firm Gordon, Fournaris and Mammarella, was listed as the LLC's contact. He did not respond to a request for comment right away.

Also read :Mark zuckerberg and priscilla chan sell san francisco home for 31 million

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The home was roughly 1,800 square feet smaller when the couple bought it ten years ago, and its sale price likely broke a record for the Mission District at a time when San Francisco was seeing the early symptoms of a tech invasion, according to The Wall Street Journal at the time.

According to its website, the Chan Zuckerberg Initiative was founded in 2015 with the goal of "helping tackle some of society's hardest challenges from eradicating cancer and boosting education to addressing the needs of our local communities." Ms Chan and Mr Zuckerberg co-founded the company and acted as co-CEOs.

Also read :mark zuckerberg and wife priscilla chan sell their san francisco home for 31 million

They paid $53 million for over 600 acres of land on the Hawaiian island of Kauai in March, according to Mansion Global. This increased their overall holdings on the Hawaiian island to more than 1,300 acres.

Furthermore, the Silicon Valley home where Mr Zuckerberg and other Facebook co-founders launched the social networking platform was listed for roughly $5.3 million in May. 

A few weeks after it was advertised, the price was reduced to slightly under $5 million, and it was removed from the market earlier this month. It is now available for rent for $11,000 per month.