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Billionaire Glazer family linked to SF’s priciest home sale of 2022
LLC associated with owners of Man Utd. and Buccaneers bought Pac Heights manse from estate of famed art collectors Norah and Norman Stone
The billionaire real estate family that owns the Tampa Bay Buccaneers and soccer club Manchester United looks to have added another trophy to their portfolio: a Pacific Heights mansion that’s San Francisco’s priciest sale of the year.
An entity called Sprinkle Wonderland LLC closed on the home at 2790 Broadway for $34.5 million on July 11, property records show. The Rochester address listed on the deed for Sprinkle Wonderland matches that of Glazer Properties, a nationwide shopping center developer founded by Kevin Glazer, son of Malcolm Glazer.
The off-market deal, which pencils out to just over $2,800 per square foot, steals the mantle of 2022’s priciest residential sale from a home sold by Meta CEO Mark Zuckerberg; The Real Deal broke the news that he sold his Dolores Heights home on July 1 for $31 million to a mystery buyer, hidden behind a Delaware-based LLC.
The seller of 2790 Broadway was the estate of Norah and Norman Stone, renowned art collectors. Property records show that the Stones bought the home, located just blocks from the Broadway entrance to the Presidio and the Lyon Street steps, in 1994 for $5 million. The 12,150-square-foot Beaux Arts-style redbrick and limestone home was designed by Arthur Brown Jr. in 1927, according to Architectural Digest, but there’s not much else to be gleaned about the property.
The Stone family still owns the 17-acre Calistoga estate that Norah and Norman, who met on a blind date and were married for over 30 years, purchased in 1991 for $1.25 million to house some of their art collection, according to public records. Dubbed “Stonescape,” the Stones, former trustees of the San Francisco Museum of Modern Art, carved nearly 6,000 square feet out of a hillside to display the works too large to keep in their San Francisco home or the property’s 19th-century farmhouse. Their biennial parties to show off their collection were attended by everyone from art collectors and museum directors to Nancy Pelosi.
The late Malcolm Glazer started First Allied Corporation in the mid-1980s as a holding company for his assets, which included everything from shopping centers and Houlihan’s restaurants to George H.W. Bush’s oil and gas company, Zapata Corporation. He acquired Manchester United, one of the world’s most popular soccer clubs, in various deals between 2003 and 2005. He had owned the Buccaneers since 1995.
The Glazer family was worth nearly $6 billion as of last year, according to Forbes, with First Allied controlling nearly 7 million square feet of shopping center space.
Even as the overall residential market slows and prices drop in the city, it has been a busy summer at the very top. In the last month, in addition to the $31 million Zuckerberg sale, the city saw its biggest condo deal ever with a $29 million purchase of a pair of penthouses owned by former Secretary of State George Shultz by an out-of-town “empty nester” couple.