Former presidential candidate and billionaire Tom Steyer is selling his longtime family home in San Francisco.
Steyer is asking $11 million for the 5,625-square-foot home, according to the Wall Street Journal. The home is in the pricey Pacific Heights neighborhood.
Steyer bought the residence in 1990 for $1.8 million. At the time, he was leading the hedge fund he founded four years earlier, Farallon Capital, and was a partner at the private equity firm Hellman & Friedman.
He and his wife Kat Taylor raised their children in the house and Steyer said his family “has a ton of great memories” there.
The home has 30 solar panels on the roof, a photovoltaic glass awning across the façade and a wind turbine on one corner. A waterfall next to the front stairs feeds a hydroponic garden and a koi pond.
The coronavirus pandemic stalled the San Francisco housing market at first, but activity has picked up significantly. There were 31 sales above $3 million in June, 10 more than in June 2019. Nextdoor founder Nirav Tolia recently listed his own Pacific Heights home for $25 million.
Steyer was born in New York but moved to San Francisco early in his professional life and has lived there ever since. He attended Stanford Graduate School of Business.
It doesn’t appear he and his family will move out of the Bay Area any time soon — Steyer bought a home in San Francisco’s Sea Cliff neighborhood for $6.75 million in 2014.
Steyer told the Journal that he and his wife kept the house with the hope that one of their children would move in someday, but said it “doesn’t look like that will happen, and so we put it up for sale.” [WSJ] — Dennis Lynch