An Alamo Square home tied to the billionaire brothers who founded Stripe has sold for $9.125 million. It’s a record for a neighborhood that has been attracting interest from a new generation of tech millionaires and AI startups.

John and Patrick Collison, who founded the online payment company in 2010, bought 1164 Fulton St. a decade ago, according to sources.

Stripe did not reply to a request for comment.

Compass agent Nina Hatvany listed the home for $11 million in February and said she did not know the sellers’ identities, as they worked with her through an intermediary. She said the sellers seemed “happy that it’s sold,” even at nearly $2 million less than the asking price.

The Alamo Square home was purchased for $7.35 million in March 2017 via two LLCs, with the same CPA signing for both, according to public records.

The Collison brothers became two of the world’s youngest self-made billionaires (opens in new tab) the year before, when Stripe was valued at more than $9 billion. They added to their holdings on the square by buying the duplex next door for $4.5 million in 2019. Hatvany sold that property for $4 million on April 7, according to public records; the signatory for the sellers was Dave Spillane, Stripe’s chief accountant from 2014 to 2018. Spillane now works for Catalyze Advisors in Miami, an early-stage funder whose leadership team is made up of former Stripe employees.

The buyers on the record-breaking sale had been interested since the home went on the market this spring, Hatvany said, declining to comment on why it took so long to close after going into contract April 13. 

Compass agents Mollie Poe and Declan Hickey represented the buyers, a Sacramento-based LLC, according to public records. They did not reply to requests for comment.

A handful of other properties on and around the park have sold in the $7 million to $8 million range, but nothing has come close to the Fulton Street property, which underwent a gut renovation in 2016 under the previous owner. The 4,500-square-foot home has five bedrooms and 4.5 bathrooms.

The facade still looks like a traditional Victorian, albeit with a metallic silver paint job. Motorized metal panels made from laser-cut aluminum can move across the back of the house, allowing for both privacy and light. The floors are wide-plank white oak, with a statement staircase of fumed oak that hits all four levels. An elevator goes from the one-car garage to the top-floor atrium, which has a secondary kitchen and leads out to a north-facing deck. The front of the home looks directly onto Alamo Square Park.

Patrick Collison posted a picture (opens in new tab) of the off-leash section of the park on his Instagram account in 2017, shortly after Alamo Square reopened following a major renovation, with the caption: “Alamo Square Park is open again; all dogs invited.”

Alamo Square has long been popular with dog owners and, more recently, a new generation of wealthy techies. Nearby Hayes Valley is known as “Cerebral Valley” for its similar ties to the AI scene; Poe and Hickey are in contract there on the historic Colgate mansion — as in the toothpaste —which was listed April 24 for $6.8 million.

Hatvany said Alamo Square and Hayes Valley have a different vibe from more traditional luxury neighborhoods like Pacific and Presidio Heights, which was part of the Fulton home’s appeal.

“There’s certain people who have their children in the private schools on the north side of town and really value the friend groups there, and then there are others who are interested in something a little bit more alternative, less predictable,” she said.

That said, neighborhoods beyond the city’s north side have a smaller pool of luxury buyers, so the sale is a sign of the overall strength of the market, which has been moving at a breakneck speed this spring. 

“We’re seeing some extraordinary sale prices,” Hatvany said. The luxury single-family market is up 25% to 30% in the last six months alone. “The entire home market has ratcheted up.”

It’s unclear if the Collisons have relocated elsewhere in the city or decamped entirely. In 2021, John Collison purchased an 18th century mansion for about 20 million euros in County Laois, Ireland, halfway between Dublin and the family’s native Limerick. In 2022, the brothers went in together on the “derelict” 9,000-square-foot Victorian mansion (opens in new tab) next door to that property with a plan to invest millions (opens in new tab) to turn it into a hotel and restaurant.

In addition to their Irish holdings, the Collisons are investors in California Forever, a 68,000-acre Solano County development that is backed by other prominent tech investors, including Marc Andreessen, Reid Hoffman, and Michael Moritz, chairman of The San Francisco Standard.