It hasn’t yet been reported, but according to a plugged-in tipster the sale of 2420 Pacific has closed escrow with a contract price of $7,400,000.
Assuming our tipster is correct, call it 42 percent under original expectations, 15 percent under its most recent list price, and $695 per square foot (“per appraisal”) for the Julius Ernest Krafft designed Pacific Heights home.
UPDATE: The sale was just reported and our tipster was spot on with respect to the price.
∙ A Julius (Not Julius’) Castle Of A Different Kind [SocketSite]
∙ Winning? [SocketSite]
Yeah, it sold for less than its listing but still, at 7 million bucks, it’s hard to make the bear case.
eddy called it!
I’d love to know who bought this home and hope the neighbors are ready to live with some major construction. The reality is that someone that wants to invest the time / money in this place could / would / will be well rewarded. Let’s check back in 2 years when this place will be easily at $1500 – 1600/psf (although I suspect there will be fewer actual sf.)
I don’t know how I missed this first time around. The neighbors filed a lawsuit over the loss of a tree which the owner and his (real estate?) agents allegedly had removed from the neighbor’s property to improve the view. Seeking total damages of $159,550. Will that come out of the commission?
If this information is accurate, what an incredible deal.
Watch in a year, I bet it will double.
A relative of mine bought it.
Nice windfall for the tax assessor! Annual property tax goes from $3100 to about $115,000.
As usual, our tipster was spot on as the sale was just reported on the MLS at $7,400,000.
I honestly thought it could sell for more. This puts in more in line with 2440 Pacific (a couple of houses to the west) which sold back in 2004, asking 6.75 million.
Kinda confused on the reference to 2440 here. Public records have that as sold for $8.6 in 2004 and it’s on a vastly superior lot with better views. I’d argue that 2440 is easily worth $11-12M sight unseen. The current owners there have made that place very nice. Although I wish they’d open up the place on Halloween! It’s actually one of the dozen or so corner lots in the PH that I like / love quite a bit since it has a yard, proper parking. And it looks to be well done on the inside. Indecently, the owners here traded up to this home from 2665 Scott in 2004. Well played sir.
Where does Zanze, who brought the suit, live?
The brick house immediately to the west has long been occupied by a couple who lived a quiet life by preference. He died relatively young, some years ago, and I expect she is still there.
Whoever is going to work on this house had better make friends with her, as she values her quiet in both senses of noise and privacy.
Where does Zanze, who brought the suit, live?
North of this house, on Broadway (their back yards abut). You can actually see the tree that got hacked on this overhead view on Google Maps. Wow…
On the Google maps link above you may need to uncheck the 45 deg. box in the Earth view to get the best overhead shot of the carnage.