A six-bedroom Edwardian at 3460 Clay Street in Presidio Heights closed for $14.7 million, nearly $4 million above its $11 million asking price, after it was listed earlier that month. The sale works out to roughly $2,811 per square foot for the 5,230-square-foot home, which sits on a 3,200-square-foot lot and comes with views of the Golden Gate Bridge and the Bay.
The deal, first reported by The Real Deal, closed through seller entity 3460 Clay Partners, with Compass agent Neal Allen Ward representing the seller and Anne Katzenmeyer of Christie’s International Real Estate San Francisco representing the buyer. Ward did not immediately respond to a request for comment, and Katzenmeyer declined to comment, per the outlet. Property records had not yet listed the new owner at the time of the report.
Built around 1900, the home spans four levels and features coffered foyer ceilings, light maple floors, a top-floor primary suite overlooking the bridge and Bay, and a garden-level guest suite, according to a Redfin listing. The home last sold in 2019 for $9.1 million, meaning the September sale represents roughly $5.6 million — about 61.5% — in appreciation in less than seven years, according to Corcoran’s listing records.
Overbidding Becomes the Norm Citywide
The Clay Street sale is part of a broader pattern the same report describes as $1 million overbids becoming routine in San Francisco’s luxury residential market, which the outlet says remains highly competitive even as buyers pay dramatically more than sellers ask. Two Noe Valley closings this month each exceeded asking price by more than $2 million, the report notes: 471 Hoffman Avenue and 1119 Castro Street both closed above their list prices in September…