Gov. Newsom’s Gifted Sacramento Estate Now FOR SALE for $7.5 Million

Governor Gavin Newsom and the First Partner are selling the Sacramento home… the home they did not buy.

In 2018-2019, an LLC registered to Newsom’s cousin, biz partner, and Co-President of PlumpJack, Jeremy Scherer, paid $3.7 million cash for a Fair Oaks estate, December 2018. In Oct 2019 the LLC “gifted” the home to the Newsoms free and clear, claiming Newsom was a member of the LLC to avoid a $4,000 Transfer Tax.

In January 2020 the Newsoms received $2.7 million tax-free when they obtained a cash-out refinance, Jen Van Laar reported at Redstate.

In “Gavin Newsom’s $3.7 Million Estate Was Gifted to Him in 2019; 3 Months Later He Got a $2.7 Million Tax Free Cash-Out,” Van Laar reminds us that Newsom’s financial disclosure forms don’t mention the LLC or the gifts, which far exceed the $500 limit.

Van Laar reported:

Newsom’s spokesperson, choosing his words carefully, confirmed that the property was purchased through an LLC “registered in the name of…Newsom’s cousin Jeremy Scherer” (emphasis added), but claimed that the Newsoms paid cash for the home. At that time, the only publicly available corporate document was the Articles of Organization, which listed Jeremy Scherer as the registered agent, so the spokesperson was correct but left out crucial information — that Newsom was not listed as a member of the LLC.

The Globe reported:

Since the Newsoms didn’t actually “purchase” their 12,000-square-foot $3.7 million Fair Oaks, Sacramento home, they probably have a little left over from the $5.9 million sale of their original Marin home, the Globe reported… except according to Van Laar, that home was mortgaged to the hilt. And, Newsom’s financial disclosure forms don’t mention the LLC or the gifts, which far exceed the $500 gift limit…

Van Laar continued:

Newsom isn’t, and never has been, a member of the LLC, according to documents filed with the California Secretary of State. Jeremy Scherer formed the LLC on November 28, 2018, and since the name of the LLC is the street address of the Fair Oaks property it’s a fair assumption that the LLC’s only purpose was to purchase that property. As mentioned above, the Articles of Organization don’t list the member(s) of the “One Manager” LLC, but a required filing, a Statement of Information dated June 29, 2019, lists Scherer as the only member/manager.

Public Servant Gavin Newsom’s rise in California politics and acquired power since the 1990s has been through the knavery of family and influential friends.

If you ever doubted that politics is made up of the elite class who see themselves as the ruling class, similar to Communists, but want the taxpayers to pay for everything, doubt no more: Governor Gavin Newsom and the “First Partner” acquired a $9.1 million home in Marin County, I reported in November 2024, and suggested that it was past time to revisit this issue because we still didn’t have any answers on this home acquisition, or the $3.7 million Fair Oaks home also purchased for them in 2018-2019 by another LLC.

Did the Newsoms buy this home or the last? How? Did someone buy these for them? Who?

The Marin “mansion” is 5,600 square feet, with the Newsoms paying 7 percent above the asking price.

Reports reveal that Newsom acquired the home through MHBD Farms, LLC, an entity formed just two days before the transaction, a spokesperson told the San Francisco Chronicle, “The family continues to split their time between Sacramento and Marin counties.” According to the Daily Mail, the governor plans to keep his $3.7 million Sacramento residence too, Yahoo Finance reported.

We found this thread of economists who report:

1. Economist Peter:
   

   This is the new $9.1 million mansion that California Governor Gavin Newsom
   GavinNewsom just purchased in Marin County, CA.

   I did some digging into the entity that purchased the home, and the home was purchased by MHBD Farms LLC on 11/14. That’s one of the entities used by Gavin Newsom that’s named after his kids. He tried covering that up because the entity was created on 11/12/24 via a registered agent.

   Why did Gavin Newsom pop up a new entity 2 days before he purchased a $9.1 million home?

   Gavin’s kids are named Montana, Hunter, Brooklynn, and Dutch, hence the LLC being named MHBD.

   The home was previously owned by Zuloo properties, which is owned by Daniel Pritzker of the Pritzker family.

   It is worth noting the Pritzker family were Gavin Newsom’s first donors when he began his political career.

One of the economists on the thread pointed out the obvious: “There are no farms in Marin County.”

Do you know how much income it takes to purchase a $9 million home?

You would need to make an annual income of nearly $2 Million to qualify for a $9 million dollar house if purchased on a 30-year mortgage. The monthly payments would be $56,464.75 …each month at today’s current interest rates.

The only thing that matters is that elected public official Gavin Newsom, whose tax returns don’t support two homes valued at well over $12 Million, was gifted those homes, borrowed $2.7M against the Sacramento home, and is now selling the home he was gifted.

As the Globe asked:

Who is investing so heavily in Gavin Newsom? Who is providing this Lifestyle for the Rich and Famous to the Newsoms, and what do they expect in return?

This is one way to make investments (campaign contributions) to a future presidential candidate.

Read Jen Van Laar’s article and click all of the links.

Read more here from the Globe.

The NY Post has more details on the house sale.