3368 Jackson 2012
Purchased as the 5,673 square foot seven bedroom “Manse Elegante” for $3,500,000 in 2010, the Presidio Heights property at 3368 Jackson Street was taken down to the studs and rebuilt “piece by piece, system by system from the foundation to the roof.”
3368 Jackson View
Now boasting 7,928 square feet, the mas modern home has just returned to the market listed for $15,500,000 with six bedrooms and six and one-half baths.
3368 Jackson Bath
And on top of under it all, there’s now a glass walled wine cellar and spa.
3368 Jackson Cellar and Spa
∙ Listing: 3368 Jackson Street (6/6.5) 7,928 sqft – $15,500,000 [3368jackson.com]
The Elephant Organ In The Room At Manse Elegante (3368 Jackson) [SocketSite]

43 thoughts on “Manse Elegante Returns Mas Modern And Listed For 12 Million More”
  1. No snazzy website with annoying music? I expect more marketing for 15 million.
    [Editor’s Note: Keep plugging in, our coverage tends to run ahead of marketing plans.]
    [Editor’s Note Redux: The website for the property is now live and linked above.]

  2. I’m sure it’s very well done, and it looks great on the inside and out. However, I can’t get used to houses that have mismatched interior/exterior.
    There are ways to do a modern remodel that is still sympathetic to the era of the house. This place looks like it has a split personality – classic on the exterior and front interior of house, and a shiny new build in the back.

  3. Beautiful. Neal Ward and his assistant, co-worker guy are absolutely killing it this year. Like a new one of these every month.
    Anyway, I think I’ll get 35 of my closest friends together and see if we can qualify for a 60% loan. (you can’t get an 80% loan on something like this can you?). And imagine no open house, right?

  4. Wow, beautifully done. And I’m really picky. The only thing I don’t like is the bug zapper lights over the counter in the kitchen. It’s light, bright, and serene. Lottery pool anyone?

  5. Nice house! well, even if you win the lottery, the property taxes will keep you from living in it for too long. If you win 50 million, take the lump sum deduction and tax out, you maybe get 25 million. You pay cash for this puppy, then take into account 150k per year which doesn’t include upkeep. After 10 years, you’d lose 1.5 million and your left with 8.5 million assuming you don’t touch the rest. And with 8.5 million left, over 10 years of marginal investments, increasing lifestyle costs (world travel, nice hotels/restaurants/parties/weddings/silly cars/silly relationships), child care/education fund/therapy, it ain’t worth it.
    So, people w/ an annual income of 8.5 million a year may find some comfort here and leave this domicile for their trustifarian litter.
    Anyways, it’s a nice place.

  6. Clearly no lottery winner should put more than half their windfall into a house.
    That said, it’s not too difficult to earn ~14% long-term returns, pretax. So buy a $5MM home — plenty of nice ones around — and earn ~$2.8MM pretax for the rest of your life. You’ll need to account for inflation, so *only* spend ~$1.4MM per year.
    It’s very difficult to spend that much money unless you blow it on art, boats, planes, gambling, drugs, prostitutes, etc.
    Kudos to the lottery winner (just don’t buy this house, unless you’re worth 10X what you pay).

  7. Its no different than any other house on the market for the past 10 years. $15 mil?? I guess you could call that a $13 million view.

  8. I’m not a big fan of that kitchen, doesn’t look very well organized, but I guess if you have that kind of money you can pay somebody else to do your cooking for you… but then why have it exposed to the living area? The open concept kitchen is generally done for those who like to spend a lot of time in the kitchen.

  9. Joshua – you said ” …… it’s not too difficult to earn ~14% long-term returns, pretax”
    Exactly how is this done? Many large pension funds and local governments want this answer.

  10. waaaaay over priced
    lucky to even get north of 7.5 on this thing
    15.5 for this is pure fantasy by agent or owner or both
    what a joke … I mean why even bother w/this
    must be Editor/Agent codependency

  11. Ooooo… It’s “Covetable”, according to the website. That’s not right. It’s clearly already coveted.
    Anyway, I like the galley pantry/dining-room buffet thingy going on.

  12. Its a thing of beauty, to be sure… a great example of how you do this sort of modern statement exactly right, pay attention to the details and initial impressions and nail the buyer psychology for this sort of house… this sort of newly minted buyer would do almost exactly this same thing for themselves if they could only tear themselves away from their computers… but at the end of the day it all depends on how much you want to pay your designer/builder for doing an 8,000 sqft property, because its almost the entirety of the price here (the land here can’t be over 2.5MM or so given its history)… you’ve gotta believe that both your time AND their time is worth the 13MM or so they are implying with the price… and you have to keep hoping that whoever is paying you for your time keeps the faith, because the developer get the cash while you are left with the hope 😉

  13. Equal allocation between S&P 500, REITs, GSCI, and EAFE. Passive portfolio, rebalance once per year.
    The pension funds cannot do this because their policy portfolios require large bond holdings in an attempt to match liabilities. If you look at the above portfolio, you’ll find plenty of liquidity throughout all parts of the cycle, and superior overall returns. Many tears will be shed by holders of large bond portfolios.
    The problem is that most participants — especially the MPT and efficient frontier believers, just don’t understand investments. Many make a lot of money for being so dumb, though at least they dress nicely and talk smoothly. Sort of like RE agents…

  14. So what happened to the organ anyway. Pretty serious transformation here. Not sure what to make of it. The neighboring property sold for around 9+ and I remember the teed haze video showed this house as having lopped off a considerable portion where to improve views for both properties. This house if FAR superior to the house next door and the parking is actually a nice bonus here. It looks like they nailed the details and maximized the space here at every turn. The price is aggressive but I’m done with trying to justify the premiums that “new construction” commands in this town. The developer made a great buy on this one but if they get the ask or even close to ask than this will be a landmark grand slam. I’m not even going to venture a guess on this one. Good luck to all. And, please invite me to the house warming. I’ll bring the wine and break in the steam shower and sauna!! Not too many homes on the market with views from 3 levels.

  15. When I first saw the price, I thought it was too high. But this has so many of the current bells and whistles, that it might go for that.
    Elaborate wine cellar. Check. Exercise room. Check. Media room. Check. Spa room. Check. There is probably enough money floating around these days that someone will bite.
    Totally love: All of the glass balcony rails.
    Slight nitpick: Aren’t the huge planters in front a bit much?

  16. No elevator? Radiant heated floors?
    There are some beautiful elements but overall a split personality. Exterior and front room too traditional for what’s in the back. I don’t like the few steps on the main floor for the very young or very old members of the family. Love the wine room, top floor, three decks. The kitchen seems a bit small for such a big house.
    The price seems high but it’s a crazy market so maybe they’ll get it or come close.

  17. All the dealer needs is a very rich person who likes a hypermodern interior with a modest early 20th century facade. There must be buyers around who fit the description and do not care what they pay.
    Do you think there could be a broker in SF who might not show them the alternatives?
    There are some very nice neighbors too, but they paid a lot less.
    It will be gone by September, helping everyone’s appraisal for blocks around.

  18. There must be buyers around who fit the description and do not care what they pay.
    Yes, the dream of every seller…

  19. There are just too many quick sale / over asking situation out there. There is a home on (3426) Broderick that just closed in a competitive situation for over asking at $3.35. This same home was purchased for $2.575 in August 2010. They did some slight upgrades / modifications, but not a lot, and the home sold for 775k more in just two years. Not an Apple but no way they put more than 200k and some sweat into the place.
    Point here is that the market is hot and buyers are jumping on properties. Is this place (3368 Jackson) overpriced? Who knows, but I’m will to venture that it will sell quick. I wonder which will sell first, 3368 or 3377 Pacific?

  20. “There are just too many quick sale / over asking situation out there.”
    The same situation is being seen in better parts of Manhattan/Brooklyn and better zip codes in the Westside of Los Angeles (Brentwood, Hombly Hills, Beverly Hills north of Santa Monica, etc.). Are we seeing the decline of the suburbs and the return of close-in urban neighborhoods, or just the 1% flexing their wallets?
    This is NOT just a San Francisco phenomenon.

  21. Compared to the former glory of the house,the Architect/developer cut its heart out with an ax. The home contained a large music parlor, among other glorious rooms, festooned with carved clear cut redwood and ornate plaster ceilings. A pipe organ was incorporated into the back wall and was such a jaw dropping sight for first time visitors. The home used to hold very high end musical events which included some of the finest operatic singers on the world stage. Years ago Pavarotti even sang there.
    There is no sign of Pavarotti or its past glorie. The 12″ fluted clear cut redwood trim can not be obtained anywhere. This is a huge loss to San Francisco. The remodal is complete disaster. Why even keep the edwardian facade? its dishonest. A developer with a soul and an architect with talent and perserverance could have maintained the former glory and accomplished something special.

  22. Regarding the three houses question, I have not verified this, but my recollection of the explanation from the previous owner is that Crocker (of Crocker Bank) built this house and the two next to it for his daughters. he sold his home to someone who added the music parlor in the 1930s. supposedly, he would open the windows once a month and play an organ concert for the neighborhood. The new owners, probobly two 20 year old Facebook employees, will play hip hop for all to enjoy. (it just gets better and better)

  23. So annoying your neighbors with an organ is ok but annoying your neighbors with hip hop is bad? Just want to be clear.

  24. Other than the agent, I don’t see the connection between a $15M house being cut by $3M and a $3M condo being sold? Two different markets/messages to me.

  25. In Escrow. This is a very nice home. I did finally get to see the interior and I’m surprised it didnt sell sooner. I’d say they maximized this place pretty well. I heard there were a few interested at the new price so this could close over if there was a bit of competition. Curious to see where this closes.

  26. Sold. 11.7. Agents poorly priced this place. Maybe cost them some money but this is a pretty solid price for this house considering its location. I didn’t want to jinx this listing but they were never going to get $15m here. 11.7-3.5= 8.2m. Anyone care to guess the cost to develop this house?
    Congrats to all.

  27. Was this a professional developer? Without seeing the house, I can’t make a decent guess at the construction cost. What does everyone think? 300-500 per foot? It could easily be more, but lets go with 400; that would be about 3.2 million. After taxes, realtors fees, etc… I imagine they’ll pocket at least 3 million on this project. Someone with a functioning brain can probably come up with a more accurate #.

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