Sale of San Francisco's Most Prestigious and Exclusive Street to Investors Unwound by the City
In this YouTube commentary, lawyer‑turned‑real‑estate professional Austin Klar recounts the 2015 tax‑auction sale of Presidio Terrace, San Francisco’s only private street, to a San Jose couple for about $90,000. The sale occurred because the homeowners association failed to pay a $14 annual property tax bill that had been sent to the wrong address for decades. The city auctioned the street along with 550 other delinquent properties without proper notice to residents. When the new investors attempted to resell the street to the homeowners at a premium, the residents sued, arguing the sale was illegal. After protracted litigation, the city agreed to unwind the transaction and returned ownership of the private street to the original residents. Klar frames the story as a cautionary piece of San Francisco history and invites viewers to follow for more such stories.
