July 15, 2011
Google Facebook Bought: 526 Duncan
While you won’t find any record of the sale on the MLS, we’ve been told the agents involved were required to sign non-disclosure agreements (NDAs), and a blind entity (the "526 Duncan, LLC") was employed to quietly make the purchase, we’re pegging the new owner of 526 Duncan as a former Facebook engineer turned angel investor.
While we can’t yet confirm the sale price, we can report the purchase was financed with a first mortgage for $3,240,000 and line of credit for up to $1,000,000 more.
As plugged-in readers might recall, the seller was a former Google engineer who paid $5,300,000 in cash for the property known as the "the T House" in 2005 and was quietly asking $6,400,000 for the property today.
∙ 526 Duncan (The Noe Valley "T House")
Quietly Hits The Market [SocketSite]
∙ Ogrydziak/Prillinger Architects: The T House [SocketSite]
First Published: July 15, 2011 1:15 PM
Comments from "Plugged In" Readers
To quote myself,
"The seller should wait a bit -- Facebook, Zynga and the like will produce a crop of new folks ideally suited to buy this place..."
Posted by: Joshua at July 15, 2011 1:29 PM
It makes me happy that the quiet coders who build great web stuff also sometimes make out big and can buy a cool place. Its like in 1849, when the guy who struck a nugget then hauled it into town and bought a solid place. Nice.
Posted by: Stucco-sux at July 15, 2011 8:13 PM
Makes me feel good just to know I live very near this house,in a house I own.
Posted by: Modernqueen at July 15, 2011 8:41 PM
good comment stucco-sux. brilliant really. thanks
Posted by: snider at July 15, 2011 8:57 PM
mmmm ... RE pr0n.
Nice twilight photo.
Posted by: SanJoseRenter at July 18, 2011 5:21 AM
The gold rush of 1849 as an example of coolness, of a little guy making it big? Really?
Very few people who dug or panned for gold made any money and those who did certainly not make it in amounts enough to buy mansions. Those who made it big enough to build mansions were the bankers, venture capitalists, profiteering equipment suppliers, marketers, snake oil salesmen and other chiselers.
I understand that proving ones worth by having a huge house is de rigueur. But isn't it just a little pathetic to live fully exposed as if you're a car on display at a luxury vehicle shop? Or, more accurately, like a shopping mall?
Posted by: MCM at July 19, 2011 12:44 AM