S
an Francisco's oldest home has sold for a record-breaking $22.1 million, making it the biggest single-family sale ever in Russian Hill and potentially signaling "renewed confidence" in the luxury market. The 1849-built estate on Francisco Street was listed for just over two weeks before selling to Eric Mathewson, founder of WideOrbit, through his company 825-845 Francisco LLC. The quick close is indicative of an all-cash deal.

    The property, known as the "Robertson Estate," had been off the market since 1986 when financier Sanford Robertson bought it for almost $1.8 million. Its unique features include a lap pool and an internal elevator from the garage to the lower levels of the four-level house.

    Luxury agents had expressed concerns about the lack of quality inventory this fall, but the sale of the Robertson Estate seems to have come at the perfect time. The property's listing agent, Stacey Caen of Sotheby's International Realty, credited their "signature pre-market renovation package" for attracting multiple offers and driving up the price.

    The sale is notable not only because of its record-breaking price but also because it's one of the few single-family homes to sell for over $20 million outside of Pacific Heights or Seacliff this year. The agents involved in the sale declined to comment further due to a non-disclosure agreement, but they hinted that the recent national and local elections may have provided clarity for ultra-high net worth individuals looking to buy or sell properties in San Francisco.