As a seriously plugged-in (and seemingly omniscient) reader notes, the sellers of 2306 Broadway aren’t moving far. From a tipster:
[The sellers of 2306 Broadway] bought the house next door to the left [2310 Broadway] for 9 million-ish, tore down everything but the façade, and rebuilt the house from scratch.
Cheers.
∙ Coming Soon And An Überprime Data Point To Be: 2306 Broadway [SocketSite]
I’d be interested to know when they bought this place as it’s been under development for over 3 years in some form or another. Rebuilt is a bit of an understatement; they put what looked like an industrial strength steel welded addition on the back probably adding 800sqft per floor or more. I’d venture they have over $3M in redoing this home as it’s been done with great care. Personally, this is one of my favorites in PH with its design and location. It looks to be superb. I really wish they left it the original slate color to maintain the classic street view. But I like the new color too. I’ve often wondered what this place would command if it hit the market. Considering there are 2 or 3 comps on Vallejo for totally gut jobs selling for between 12-15; I’d say this could have sold for more; but I’m not so sure. Anyway, this is going to be a very special home and congrat’s to the owners.
That’s a beautiful house indeed.
I guess it is less hassle to do it this way than to move into a hotel room for the remodel. Especially if it is going to take three years. How much is 3 years at the Four Seasons at $500/night?
“Real Money” in action … good to see that outer Broadway remains firmly in the hands of financial and industrial tycoons. Where it belongs.
Eddy, I’m just speculating here.. but my guess is that after three years of architects, contractors, engineers, and interior designers, the owners put a minimum of $700 per foot into this place. I’ve heard that it’s actually quite nice and HUGE. New construction is of course cheaper than remodeling a historical property, but no way did this cost 3 million.
*now I just wait to be driven out of Pac Heights by a mob with pitchforks and torches…
Maybe $3M is a stretch, but if this place is 3.5k sqft @700psf we’re at $2.5M. I’m not sure if you saw the work on the back of this house; this isn’t your standard 2×4 stud and sheetrock job. This is a serious commercial grade job. I wouldn’t rule out legal costs here either since I’m sure there is a historical situation here as well. But, yeah, $3M is a big # for any project. I agree.
I don’t understand your (*) footnote?
^ haha.. I didn’t make that very clear. This house cost more than 3 million to build. It’s about 8000 sft. As you know, the house is 100% brand new.. so it’s still a 5+ million job. Hell, a new construction down the street is up to at least 15 mil in project costs, so this could easily have been more than just 5.
Phew… you had me questioning my math & estimation skills; although now it seems I was wrong in the other direction!
$15M, are you talking about the Normandie project? The only other think I can think of is the Vallejo / Scoot street renovation but I can’t believe that is $15M!
Man I got to get into this market. Those building prices are ridonkulous.
Just marked down to $5.995…
[Editor’s Note: That would be for the house next door (2306 Broadway), not this one.]