[Update 7/12/07…SOLD…$14,000,000!!]
Since its neighbor at 3100 Pacific was asking $15,000,000, received 2 offers and just closed escrow for a price we’re not disclosing, it is only fitting the other newest new home in Pacific Heights, 3130 Pacific right next door, should come on the market too (hit MLS). It is asking a bit less than 3100 Pacific, and a bit more than we were previously told ($12MM), but who’s counting? We are…counting the days before it is sold. We’re bettin’ not many.
[update 6/6/07: In contract after seven days on the market and looking pretty solid for a quick sale.]
3100 and 3130 Pacific [Sotheby’s]
–3130 Pacific [MLS]
Makes u wonder. If the housing market is really crashing and the economy is going to hell, who can afford these places, and shouldn’t they know better?
Can’t judge the market by the sale of multi MM homes. Well, I guess you can judge the state of the market for MM homes; but not the general market as a whole. If you can comfortably buy a $2+ home than you’re not in the normal “median” bracket.
If the 3100 sold for 15M; this place seems over priced. There are a few houses in this range that have not sold. There is a SFR totally redone on Vallejo (recently back on market after not selling for quite a while) and there is a place on Green by the steps that also hasn’t sold for a long time. Interesting to see what happens to this place and the marina green place. Maybe total renovations / new construction are something that the wealthy are looking to buy here in SF. I still think that both are a bit over priced.
Restoring a property, particularly a Pac Heights mansion, is time-consuming, stressful, and horrifically expensive. It (sort of) makes sense to pay top-dollar for new or remodeled homes that don’t require up to three years of work.
That said, I don’t know why the Vallejo and Green houses linger on the market considering both offer lovely, panoramic views of the bay.
Seen green but not vallejo. Green seems a little high priced; but not much. Could probably use a marketing change. if i were an agent; i’d be preparing my pitch to the owners now! Vallejo owners just seem unrealistic; i think that property was listed at 15M originally and has been on and off the market. another property nearby was just totally restored so that should bring some attention to it if it hits the market. my guess is that both owners don’t want to sell and have it priced at a figure that would entice them to move out with a big profit.
I’ve been in the Vallejo property and it’s actually quite nice: high-end fixtures throughout and dramatic views. However, it’s kind of got an odd floor plan. It’s pretty obvious that the developers couldn’t get a dwelling unit merger, so it’s still technically four units. The two lower floors are kind of odd because of the various fire-rated doors required to get in and out of the “units.” I don’t know if that’s a huge negative or not, but it’s a little strange.