Alamo Square Mansion Built for Colgate Heir Sells for $7.5 Million, $700 K Above Asking

Last week, 924 Grove Street in San Francisco’s Alamo Square neighborhood changed hands for $7.5 million—more than $700 k above its $6.8 million asking price. The sale, reported by Mansion Global and confirmed by Compass, was handled by agents Mollie Poe and Declan Hickey.

The unnamed buyer entered the market after the property went live in late April. Closing took just a week after the final offer was accepted, following a chain of ownership that began in 2009 when the sellers paid $2.9 million for the home.

Built in 1903 for Joseph Colgate‑McQueen of the Colgate‑Palmolive family, the house was designed by Frank Van Trees in an Edwardian style that remains intact on the exterior. Roughly two decades ago, the interior received a comprehensive renovation that introduced a modern, open‑floor‑plan layout while preserving the historic character of the façade.

Spanning 5,500 sq ft across four levels, the residence offers a unique mix of indoor and outdoor spaces. The main floor features a formal living room facing the street, a dining room, an open kitchen, and a breakfast nook. Five of the six bedrooms occupy the third and fourth floors. The penthouse hosts the primary suite, complete with a skylit bathroom, a deck overlooking the city, and an additional room that can serve as an office, sitting room, or nursery. The lower level contains the sixth bedroom, a theater, and direct access to the backyard. A restored two‑room carriage house also belongs to the property.

The transaction reflects a broader trend in San Francisco’s luxury market. The Bay Area’s artificial‑intelligence boom has intensified demand for high‑end homes, creating a shortage that has pushed many properties to sell above asking. According to Mansion Global, the city’s median sale price in March 2026 reached nearly $2.2 million, up from record highs in spring 2022 before the market dipped during the post‑pandemic period.

The Colgate Mansion’s rapid sale and premium price underscore the continued strength of the city’s high‑income segment. While the overall market has cooled from its pandemic‑era peak, buyers in the tech sector and other affluent industries continue to compete for limited inventory in desirable neighborhoods such as Alamo Square.

The deal also highlights the value of historic properties that have been updated to meet modern standards. The mansion’s blend of preserved Edwardian architecture and contemporary interior design has proven attractive to buyers who seek both character and functionality.

The new ownership will likely keep the home in the hands of a private buyer, as the seller’s identity and the buyer’s name remain undisclosed. The sale adds to a series of recent high‑price transactions in the city, underscoring the resilience of San Francisco’s luxury real‑estate market.

For residents of Alamo Square and the surrounding Western Addition, the sale reaffirms the area’s desirability. Proximity to downtown, historic homes, and tree‑lined streets remain key selling points for buyers willing to pay a premium.

The transaction illustrates how historic homes can serve as valuable assets in a market that rewards both heritage and modern amenities. As the city’s high‑income buyers continue to seek unique properties, demand for well‑maintained, updated historic homes is likely to remain strong.

In sum, the Colgate Mansion’s sale for $7.5 million—$700 k above asking—demonstrates the ongoing demand for luxury homes in San Francisco’s most coveted neighborhoods and the market’s ability to support premium prices for properties that combine historic charm with contemporary upgrades.