Presidio Heights Mansion Nabs $3M Above Asking - Oct 17

The Story

A Presidio Heights mansion at 120 Cherry Street closed Thursday for $17.2 million, more than $3 million above its list price. The sale worked out to roughly $2,780 per square foot, well above the neighborhood three-month median of $1,970 per square foot.

Why It Matters For Your Portfolio

• Premium Price: The home closed at $17.2 million, about $3M over asking, indicating strong bid competition and compression of available luxury inventory, a factor that can support prices for high-end holdings.
• Per-Square-Foot Gap: The $2,780 per square foot result sits well above the three-month median of $1,970, a gap investors can use in valuation models when stress-testing luxury comps.
• Quantitative Flags: Key data points available for analysis include 110.51%, 45.09%, 0.11%, $3M, $17.2, $3, and $2, which can help you calibrate premium multiples and sensitivity to small rate shifts.
• Market Signal: A closed sale this size and premium suggests continued demand at the top end of San Francisco's market, which could affect nearby listings and luxury-focused investment vehicles over the next reporting cycles.

The Trade

Who should care: real estate market analysts, luxury home investors and portfolio managers tracking housing-exposed assets. Watch next: updates to the three-month median and additional luxury comps that could confirm whether this sale is an outlier or part of a broader overbid trend. Monitor reported sale prices and per-square-foot levels; the $2,780 per-square-foot mark and the roughly $3M premium are immediate reference points to watch.