SAN FRANCISCO (CBS SF/AP) — Even in the crazy world of San Francisco real estate, a $475,000 voluntary buyout offered to one couple to move out of the apartment they have lived in for three decades has captured the attention of social media and local residents.
The voluntary buyout is considered to be the largest in city history and reflects the high-value of the apartment.
The tenants, a couple in their 60s with teenage children, had been paying $12,500 a month recently for a seven-bed, eight-bath apartment. It takes up most of a floor in a century-old building with expansive views of the bay, Golden Gate Bridge and nearby Presidio park. They declined to be named.
San Francisco has among the strongest tenant protections in the country, which encourages tenants to hang on to apartments as market prices go up. While California has recently adopted rent…