San Francisco Seller Offers To Trade Historical $3 Million Home for OpenAI or Anthropic Stock in ‘Landmark Moment’ for Housing Market

The IPO race between Anthropic and OpenAI has already seeped into the San Francisco Bay Area housing market. A seller in San Francisco is attempting to seize upon the frenzy around the companies' public offerings by trading their historical $3 million home for stock in either of the two tech giants.

According to the listing for the three-bedroom property, which is located in "the heart of Duboce Triangle" on one of the city's highly sought-after slow streets, the seller is willing to consider both OpenAI and Anthropic stock as payment, even though neither is publicly available to buy yet.

The two tech giants have been engaged in a frantic dash to the IPO finish line in recent weeks. Anthropic, which created the AI assistant Claude, apparently reaching the goal first, revealed on June 1 that it had filed for its initial public offering.

The details of Anthropic's IPO have not been made public; they will remain confidential until they have been reviewed by the Securities and Exchange Commission, after which shares in the company, which was recently valued at $965 billion, will become available to buy.

Meanwhile, OpenAI, which created Claude rival ChatGPT, has yet to reveal when it plans to file its own IPO. However, the company has indicated that it is preparing to go public in the coming weeks.

But before stock in either company becomes available, one San Francisco home seller is attempting to get ahead of the game, offering up their elegant dwelling as a kind of trade in return for shares. The number of shares they are willing to accept will likely depend on the public valuations of each company.

It may well be that the seller is hoping to attract the attention of an OpenAI or Anthropic employee, who may already hold pre-IPO shares in their respective company, shares that have become all the more valuable in anticipation of the tech giants' public offerings.

Either way, Realtor.com® economist Jiayi Xu notes that the listing represents a "landmark moment" for the country's housing market.

While crypto payments for properties have become more mainstream in recent years, it is rare to see a residential home being offered in return for tech company stock, Xu says.

"A seller willing to accept OpenAI or Anthropic stock as payment is a landmark moment for the housing market. We've seen crypto used as payment, but this is different," she says. This listing could well open the door to similar trades in the future—particularly where the market's wealthiest sellers and buyers are concerned, providing them with a new way in which to "spend" their assets.

"AI has created a new class of incredibly wealthy people who are sitting on equity in some of the most valuable private companies in the world, but can't easily spend it," Xu adds. "The housing market is now adapting around that reality.

"For sellers, it opens the door to a deeper, wealthier pool of buyers. For AI stockholders, it offers a creative path to liquidity that doesn't require waiting for an IPO."

The listing for the property at 160 Noe St.—which is held by Rachel Swann of Compass—reveals little about what the terms of such a trade might look like, stating only that "Anthropic or OpenAI stock will be considered as payments."

Despite this, Swann told Business Insider that she has been flooded with interest from buyers since the listing went live on May 28.

Her phone has been "blowing up" since news of the unique offering was revealed, she said.

What the listing does contain, however, is ample detail about the nearly 2,500-square-foot abode, which recently underwent an "extensive two-year, multimillion-dollar transformation that reimagined the interiors while embracing all of the heritage of its 1907 San Francisco architecture and period detailing."

It appears no expense was spared on the overhaul of the home, which features an array of high-quality materials, including marble, custom millwork, and designer lighting fixtures.

The dwelling, which is described as setting "a new bar in luxury residences in San Francisco," is part of a historical townhouse that was divided into two dwellings. The lower residence was sold for $3 million in May.

Inside, the property features a stunning open-plan kitchen, dining, and living area, with an enormous island that can seat four people, as well as a breakfast nook with a table and a built-in bar area.

Soaring 10-foot ceilings and large windows help to flood the main living area with light, while top-of-the-line appliances and finishes create a truly luxurious living experience.

Each of the three bedrooms features "custom soft paint palettes," including the stunning primary suite, which has been decorated in a dark, moody shade of blue-gray that appears to evolve throughout the day as the light coming through the large bay window shifts.

The en suite bathroom is accented with marble walls and comes complete with a large walk-in shower, as well as dual sinks.

Two other bedrooms in the home share an elegant bathroom, which offers a huge soaking tub, as well as elegant green tiling that emphasizes the fresh, natural feel of the space.

On the uppermost level of the property, there is a 900-square-foot "flex room" that could be used as a den, media room, or workout center. Meanwhile, a huge outdoor terrace adds yet another entertaining and relaxation space to the home.

The property also comes with an "oversized" two-car garage with additional storage space.

"Centrally located in coveted Duboce Triangle, this rare restored 1907 residence will wow all your senses. Do not miss the opportunity to experience something extraordinary!" the listing concludes.

The listing comes just a few weeks after another Bay Area resident—investment banker Storm Duncan—offered up a similar proposal for the sale of his Mill Valley, CA, estate.

Duncan, who is the founder of tech investment bank Ignatious, agreed to part ways with his five-bedroom abode in return for pre-IPO shares in Anthropic, telling Realtor.com that he believes the property would be an excellent exchange for an Anthropic employee who has plenty of illiquid shares and wants a luxury pad with a one-hour commute from Silicon Valley.

"If you're 25 or 30 years old, this is your second job, you have $10,000 savings in your bank account, and now all of a sudden you have $100 million of Anthropic stock—but you're living in a one-bedroom apartment," he said.

"So this would give them the opportunity to diversify out of just one asset, and it allows them to have a lifestyle more equivalent to what their current net worth is."