Private equity investor Chuck Esserman purchased the 10,742‑sq‑ft Pacific Heights mansion formerly owned by Larry Ellison for $45 million in December 2025.
The 2850 Broadway house, built in 1958 by architect William Wurster, was gutted and re‑envisioned by designer Olle Lundberg when Ellison acquired it in 1988 for $3.9 million.
Next door at 2840 Broadway sits Laurene Powell Jobs’s $71 million residence, a record‑setting sale that puts the area firmly on the Billionaires Row map.
Despite its market value, the 2025 assessed value was only $8.9 million, a gap explained by California’s Proposition 13 limits on post‑sale revaluation.
The deal was shrouded in secrecy, prompting speculation that Elon Musk or Uber CEO Dara Khosrowshahi might be involved; the trust tied to Esserman clarified the buyer’s identity.
Esserman, co‑founder of TSG Consumer Partners, has already bought high‑profile properties, including a $30 million Las Vegas mansion tied to Celine Dion and a $7.4 million former Peter Thiel home, cementing his influence in the luxury market; the transaction tops San Francisco’s 2025 home sales and may shape future pricing on the city’s most coveted streets.