Sam Altman Expands San Francisco Property Portfolio with $14M Purchase
- Bay Area Real Estate Insider
- Feb 19, 2025
- 2 min read
In a strategic real estate move, OpenAI CEO Sam Altman has expanded his property holdings in San Francisco's Russian Hill neighborhood by acquiring the adjacent property to his current residence. The purchase, finalized on January 29, 2025, was conducted through Amberley Properties LLC, an entity managed by Altman's cousin, Jennifer Serralta, who serves as the COO of his family office.
The newly acquired estate encompasses three parcels: a 5,400-square-foot, five-bedroom, 5.5-bathroom home built in 1924 at 855 Chestnut Street, and two adjoining vacant lots at 952 and 954 Lombard Street, totaling approximately 5,000 square feet. The property is situated just half a block from the iconic "crooked" section of Lombard Street and features a steep, tree-lined driveway carved into the bedrock on Chestnut Street.
Public records indicate a purchase price of $14 million for the combined properties. However, the San Francisco Association of Realtors MLS records reflect a total of $38.5 million, with each address listed at $12.833 million. The San Francisco Assessor-Recorder’s office has not clarified the discrepancy between these figures.
This acquisition comes as Altman is embroiled in a lawsuit concerning his existing residence at 950 Lombard Street, which he purchased for $27 million in 2020. The lawsuit alleges significant construction defects, including issues with an infinity pool that led to extensive water damage and mold, resulting in over $4 million in damages.
Altman's real estate portfolio extends beyond San Francisco. In 2020, he acquired a $15.7 million, 950-acre working ranch in Napa, featuring multiple residences and vineyards. Additionally, reports suggest he owns properties in Big Sur and Hawaii, underscoring a pattern of investing in premium real estate across various locations.
Beyond his residential investments, Altman is reportedly expanding his business ventures in the Bay Area. His cryptocurrency startup, World, is considering leasing 70,000 square feet of office space at Mission Rock, a development by Tishman Speyer. This move signifies Altman's commitment to broadening his professional footprint in San Francisco.
Altman's recent property acquisition and ongoing investments highlight his deepening ties to San Francisco, both personally and professionally. As he continues to navigate challenges with his current residence, this expansion may offer new opportunities for development or serve as an alternative dwelling.
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