As we wrote this past December:
In April of 2007 the listing for 2219 Pacific Avenue touted “Beautifully remodeled and maintained Pacific Heights Edwardian…Detached 2 car garage…All bedrooms are generously sized.” It closed escrow two months later with a reported contract price of $4,250,000.
Three days ago a gutted and reframed 2219 Pacific returned to the market touting “Permits issued and complete plans available to finish this spectacular 3 story home in AAA Pac Hts…needs elect, plumbing, flrs, mechanical…will be a 4900 sq ft home…3/4 of foundation is brand new w/ all current seismic upgrades.”
Two months later the listing for 2219 Pacific Avenue was withdrawn from the market without a sale, asking $3,495,000 at the time. And as a plugged-in tipster notes, the finishing of 2219 Pacific appears to be underway (no word on whether speculatively or not).
Also noted: while not listed nor official inventory, a renovated 2223 Pacific is now on the market and asking $3,600,000.
∙ From “Beautifully Remodeled” to Gutted And Asking $755K Less In PH [SocketSite]
They can always come down on their price.
It’s called bargaining.
It’s also called “facing reality”.
Phase 1: Buy perfectly good house.
Phase 2: Destroy it.
Phase 3: ?
Phase 4: Profit!
Underpants gnomes.
I suspect both owners are in for an awakening if 2223 ever finds its market price. 2223 has been on / off the market for a while.
2223 Pacific was withdrawn today. Gone are the days of 1k psf for no view.