A few days ago 2830 Pacific was the poster child of a Bloomberg piece on the flagging upper end of San Francisco’s real estate market. As previously noted on SocketSite, the 2009 Decorator Showcase home was originally asking $15,500,000 but subsequently reduced to $9,995,000.
And as we now note, 2830 Pacific has been leased with an option to buy. We’ll see if we can’t dig up the terms. And sorry, no word on whether or not they’ll be taking it Decorator furnished.
∙ Ten Below Over Freezing. Except For That One At Twenty-Nine… [SocketsSite]
∙ 2009 Decorator Showcase (2830 Pacific) Opens Its Doors And Kimono [SocketSite]
∙ Showcasing A Designer Price Cut: 2830 Pacific Sheds Another 29% [SocketSite]
Bizarre…
Let me do some sleuthing and see what I can find out.
I’ve said this in all the other threads on the DS houses, but the lipstick on a pig stuff just isn’t working. I think we can officially start calling it the Decorator Showcase curse.
Oh… and I think there’s another overly familiar mansion coming back soon. It’ll be interesting to see the new price.
One DS house that is beautiful and perfect from the inside out since it was completely remolded is the Feinstein/Blum house on Lyon.
One of the best things about this house, and others at this top peak of PacHts is the amount of land around it. Unattached, not very SF, but very desirable in the middle of great neighborhood.
any idea how much the lease is?
The lease on these high end units tops out at around 15-20k. Considering the owners paid $2M even a 180k yields a nice profit. The agents are probably not thrilled with the outcome here unless it converts to a sale.
So much for the “Option”. Movers unloading the house today and onto a truck. So it looks like another Showcase house is probably coming back to market.
Sad… Well, I’m not surprised. The house still needs a significant work…
Also, there’s a lot of activity over at 2420 Pacific, which EBguy has often mentioned as being headed for the courthouse steps…
No clue what’s going on over at 2420. Hauling a lot of junk from behind the house. I’d love to get inside that house to take a look. EBGuy, any update on that one?
they might be doing this around back:
Description: REPAIR DAMAGED DECK & STAIRS AT REAR OF BUILDING. REPAIR TO BE IN KIND, PROVIDE NEW FOUNDATION FOR POSTS PER PLANS
2420 is now on the market. And a bit overpriced.