Presidio Heights Residence at 120 Cherry Street Closes for $17.2 Million in Under Four Weeks

A modernized five-bedroom residence located at 120 Cherry Street in San Francisco's prestigious Presidio Heights neighborhood closed escrow on Thursday for roughly $17.2 million, or $17.15 million in recorded deed filings. Reported by real estate publication The Real Deal, the luxury residential transaction moved from initial listing on September 21 to final closing in less than four weeks, underscoring resurgent buyer competition for turnkey single-family estates in northern San Francisco neighborhoods. High-end residential brokers across San Francisco, Alamo, and Danville noted that the rapid all-cash-style timeline reflects growing liquidity from artificial intelligence and venture capital executives.

At the $17.15 million closing figure, the Cherry Street residence traded for approximately $2,780 per square foot, commanding a more than 41 percent premium above the Presidio Heights neighborhood's prior three-month median price of $1,970 per square foot. Public property records indicate that the sellers were Alexander Millar, Chief Executive Officer of Bluefish Ventures, and his wife Kristin Millar, an attorney. The couple acquired the property after it last traded hands for $3.7 million in 2007 and subsequently commissioned a comprehensive architectural rebuild completed in 2012.

Spanning multiple levels immediately adjacent to the wooded trails of the Presidio of San Francisco, the rebuilt residence incorporates custom resort-style amenities tailored for indoor-outdoor entertaining. Architectural highlights include temperature-controlled wine storage, a landscaped private garden, an artificial turf sport court, a dedicated entertainment and media room, a fitness and exercise studio, and a custom wet bar. Luxury real estate specialist Neal Allen Ward held the listing for the sellers, while broker Neill Bassi represented the buyer, whose identity was shielded through a private purchasing entity and not publicly disclosed.

Municipal fiscal analysts and county assessor officials noted that high-value residential transfers exceeding $15 million generate substantial documentary transfer tax revenue and upward property tax reassessment baselines for the City and County of San Francisco. Under San Francisco's tiered voter-approved transfer tax schedule, sales in the $10 million to $25 million bracket contribute hundreds of thousands of dollars directly to the municipal general fund, supporting neighborhood parks, street maintenance, and affordable housing programs. Regional real estate board committees observed similar autumn momentum in premier East Bay enclaves such as Alamo, Blackhawk, and Piedmont.

Homeowners, real estate appraisers, and civic researchers can inspect recorded deed transfers, parcel tax assessments, and neighborhood valuation trends through the San Francisco Office of the Assessor-Recorder online at sfassessor.org or in person at City Hall Room 190 by calling (415) 554-5596. Monthly market statistical briefings covering San Francisco and Contra Costa County luxury residential tiers are also published by regional association of realtors boards.