Christopher Neely

When a six bedroom house in San Francisco's Cow Hollow neighborhood hit the market for $8 million in late April and closed within two weeks for nearly double its asking price , it marked an eye-popping example of the city's frenzied housing landscape.

Fresh out of Stanford University, a young AI founder wanted to take the next step in the hallowed San Francisco startup playbook: purchase a so-called hacker house, fill it with his small team, and buckle down to build a company. He set his sights on Potrero Hill, a quiet, suburbanesque neighborhood that has experienced a breathless glow-up after OpenAI established its headquarters in the adjacent Mission Bay three years ago.

There is a long tradition behind the San Francisco to Marin County pipeline, with the Golden Gate Bridge representing a sort of threshold between eras of life. Young, well-to-do families ready to exit hustle and bustle often choose Marin for its spacious homes, highly-regarded public schools, and proximity to the city.

For decades, the late San Francisco mogul had his hands in local real estate, media and politics When it came to the levers of power, Clint Reilly was a sort of Renaissance man.

In a move reflective of how the artificial intelligence industry is accelerating a changing-of-the-guard among San Francisco's upper crust, David Pottruck, the former CEO of Charles Schwab who now chairs the Woodside-based Hightower Advisors, sold his three-bed, three-bath condo on July 15 for just under $6.7 million — barely breaking even.

Major land holders, from Vornado and Hines, to Shorenstein Properties and BXP, voted Tuesday to expand the boundaries of the local community benefit district and, through special assessments, fund the Downtown San Francisco Partnership . Helmed by Robbie Silver, the partnership began in 2019, dedicated to keeping the city's Financial District clean, safe and active. With this week's vote, the district will expand beyond FiDi to include Embarcadero Plaza, the Ferry Building, and a larger slice of Jackson Square.

The AI boom minted a wave of millionaires — including those who are willing to sell their homes

“I told them that if they weren't going to be happy with $7.5 million, then we shouldn't price it there,” Schindler, who has been selling San Francisco homes for four decades, told The Real Deal. After buying the 4,000-square-foot home in 2002 for $3.9 million, the empty nester sellers said they'd be satisfied getting that list price.

In this case, however, the pair are well-known real estate investors, the shopping spree has continued for more than two years, and their investments are playing a key role in turning around the fortunes for one of downtown San Francisco's most embattled neighborhoods.

The median sale price through July in Atherton hit $9.9 million in 2026, a 20 percent increase compared with the same time period last year, according to PropertyShark. The price surge puts significant distance between Atherton and Fisher Island, the Miami Beach enclave that had held the priciest title since October. Median sale prices on Fisher Island, which has hosted residents from Oprah Winfrey to Mel Brooks, sat at $8.3 million.