Oakland Home Where Black Panther Party Founded Flipped

OAKLAND (CBS/AP) – The Black Panther party preached “power to the people,” but in the San Francisco Bay area’s thriving real estate market, the power is in the property.

Realtors expected to close a deal Friday on the Oakland home where the militant black power group was founded in 1966.

The Oakland Tribune reports Panther co-founder Bobby Seale’s family sold the house at 809 57th St. in October for $200,000.

Real estate investors renovated the two-bedroom bungalow with chic maple and quartz upgrades before putting it on sale for twice that amount.

Seale said he and Huey Newton drafted the party’s manifesto around the home’s dining room table.

The surrounding streets that armed party members once patrolled in the name of black empowerment are quickly gentrifying, with longtime residents like Seale departing for less expensive suburbs.

(Copyright 2012 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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