Purchased for $4,125,000 in the year 2000 for the lot value, the newly constructed 2935 Pacific has been nine years in the making including six years (and nearly 100 vendors and sub-contractors) of construction. Now on the market and asking $12,900,000.
Eight bedrooms, seven full baths (three powder rooms), and a 2,500 square foot rooftop terrace with kitchen, built-in Jacuzzi and views. A property specific website is coming soon.
The still asking $65,000,000 2845 Broadway is across the street and a few doors down.
Full Disclosure: The listing agent for 2935 Pacific advertises on SocketSite but provided no compensation for this post.
∙ Listing: 2935 Pacific (8/7) – $12,900,000 [MLS]
∙ The $65,000,000 House [SocketSite]
F’n awesome. Now I just need to get together with 7 trust fund buddies to buy this place and film The Real World: The REAL SF in this place…
13 million and they still put the flat panel screens above the fireplace(s). Unbelievable. What’s wrong with these people?.
Pretty spectacular. New construction of this caliber is hard to find in SF. $12.9 seems a bit high but I’d say it’s got a better chance of selling than anything else in its price range.
Lessee how this checks out for luxury class amenities :
– A+ location : check
– rooftop deck with great views and hot tub : check
– grand entry : check
– 6 burner stove : check and then some (8 burners !)
– wine cellar : check
– garish wood paneling : check
– bedroom fireplace : check
– elevator : check
– walk-in master closet : check
– more bathrooms than bedrooms : check
– temple of bathing : check
– bidet : NO CHECK !
What the heck happened ? I guess that $13M will have to stay in my pocket for now.
I do like the understated yet elegant entry. The architects of McMansions should take note : there’s no need for a tiny chamber with 16′ ceilings behind the front door. It is possible to create a grand entry without awkwardly high ceilings.
Big unobstructed north + northwest views from numerous floors and angles?
Apparently no check.
“13 million and they still put the flat panel screens above the fireplace(s). Unbelievable. What’s wrong with these people?.”
I could not agree more – beyond the extreme tackiness factor, screens at this height are too high and make you crane your neck upwards. Having said that, the place is beautiful and at least they didn’t put them in the main formal areas.
The first thing I would if I had 70trillion to buy such a place is to rip out those awful screens and put up some proper degas or manet’s.
I’ve seen big, ugly, rustic-americana-signifying stars staged on bedroom walls in several listings in the past year (see pic 18). What’s up with that? Here especially, it doesn’t at all fit the urban sophistication of this place in general (which I agree is extremely well done).
Isn’t part of the problem also that having a flat screen TV directly above your fireplace renders the fireplace unusable? (The same would go for putting a Manet or Degas there.)
Maybe not a real concern — personally I think it’s fairly ridiculous to have a wood fire going in a city that doesn’t drop below 50 more than 5 times a year. But I’m well aware that many disagree.
not impressed. for all that money and time and attention to detail, they could not put in ONE DAMN STREET TREE, or curbside planting. The Planning code requires new street trees when a certain level of remodeling or construction occurs.
Why did this not happen? And don’t tell me there was no available room for street trees. that’s bs. there is ALWAYS a place.
Nothing says you haven’t made it than a house with a flat screen above the fireplace. If you REALLY had money, you’d hire the actors from your favorite shows to restage that week’s show in FRONT of the fireplace.
Beautiful, beautiful place. Will sell quickly.
Is there a planning dept/code reason they didn’t build 6 feet higher to match the height of the houses on either side? Is that so drunk revelers don’t crawl on the neighbors’ roofs? Seems like it would be nice to see over the neighboring houses when enjoying the terrace.
Could I take the 12 million and spend it as follows instead?
1.) NYC apt ($3.5 million)_
2.) Bay Villa condo in Kapalua on water ($1.8m)
3.) House in Bighorn CC Palm Desert ($3.5m)
4.) House in Noe Valley (around 3 milliion)
None of these places will have a flat screen over the fireplace btw.
Milkshake, are you okay with that kitchen? It looks like you have to walk all the way around a long island to get at the fridge from the stove.
(Of course at this price range people never cook™.)
It would appear, to my eye at least, there’s NO DAMN ROOM FOR A SINGLE STREET TREE. What isn’t a curb-cut is obstructed by utility boxes.
As a realtor, I get a update email anytime something new comes on the market. As soon as I got the email I went straight to SS because I knew there would be a story about it, and sure enough!! lol
Well its going to be tough to say if this one sells since they didnt disclose the square footage Im sure it cannot justify the $12.9 asking price
It looks like the roof line is level with the neighbors, but that this house opted not to put up a facade to block the southern views (could be a stair penthouse on the eastern neighbor in the picture).
Not my style, but that is purely my opinion and this project is clearly well done. I even think the price is reasonable…
What I don’t get is if they paid $4.125M in 2000, just at a blended cost of capital of 9% and accruing (which is probably low when blended over debt and equity, so proves my point even more), the current basis would be over $9M after 9 years on just the land price. So how do you build, let alone pay sales commissions and make profit, with what is left over? Were they renting the prop for some period of time? Maybe I am missing something that they know and I don’t, but I’d be really interested to know what the business plan was.
I wouldn’t mind the flat screen TV above the fireplace if the room was wood paneled, like the room in picture #3, with the TV hidden behind moveable panels. I agree with everyone else: Modern artwork would look better.
Milkshake, are you okay with that kitchen? It looks like you have to walk all the way around a long island to get at the fridge from the stove.
kthnxybe:
that’s my pet peeve. And you stole my thunder. This has one of the worst kitchen work triangles I have ever seen.
Get your food at that fridge. Walk all the way around that major island to the stove to cook it. the sink placement is random as far as I can tell.
this is the problem with these monstrous islands. they serve little to no function, and really just get in the way.
it is not comfortable to have guests in that kitchen. they can stay WAYYYY over there on the other side of that peninsula by the fridge, in which case the cook is separated from them (and feeling lonely) as the cook faces the WALL, or they can stand awkwardly on the other side of the major island at the cook’s back. Terrible.
There was little to no thought to this kitchen except for choosing expensive appliances in order to poorly place them. Dreadful. Next time this designer should just place them all in a heap on top of an island. why not since they love islands so much?
otherwise this place is fantastic. Truly a showcase home. Pity about the trees.
bitter fuckers who quibble about placement of flat screen tvs? check check check
There are some utility vaults in the sidewalk that probably prevented the street tree requirement. I would still try to put one between the driveway and those vaults.
I’m not bitter – I just expect that for 13 million, I shouldn’t have to crane my neck and look upward for 3 hours to watch a ballgame or a movie. Pretty simple, really.
Why does that make me bitter?
That is a lovely facade.
When you are that rich, you pay the help to watch TV for you.
Your neck is saved and the help can file workman’s comp claims for the neck injury.
There probably are refrigerator drawers in the island on the range side.
After taking a closer look at this home, its location, width, finishes, etc… I’m going to change my position and state that I think this home is overpriced. There were a few homes on Vallejo that sold for 12M with killer views and top-end finishes in 07 (peak). The lack of views should keep this property from selling above $10M. The brand new factor is going to help it immensely.
Since the sqft for this home is missing, I’m going to guess it’s close to 8000 sqft and project that it will sell for $1200psf, or around $9.6M. This is not where I’d put my $10M but I can see where someone would.
were several of the rooms sporting translucent glass or was it just a very foggy day?
That facade is too monotone. It could have used some more articulation. At least the quoins, entablature, cornice and bays could be in a slightly different shade than the field.
So it takes 8 figures to get an arch into new construction exteriors? It’s a start.
I’ll comment more later, but regarding the flatscreen above the fireplace: I’ve got one, and I don’t apologize for it. As long as it isn’t in the living room (or other public room) it doesn’t bother me. It doesn’t hurt my neck, and I can happily watch TV while cooking or whatever… I guess I could’ve gotten one of those fake art deals that slides back to reveal a TV, but they’re actually even more tacky. Besides, in a lot of older houses, there really isn’t another place to put a TV because there are fireplaces everywhere. Admittedly, since this looks like 90% new construction, they might could’ve concealed them a bit better. Anyway,if the buyer doesn’t like it, they can just pop them off and put up artwork or what have you. It’s not worth complaining about.
yea, like I said: there is always room to put in a tree..or some curbside planting. even with water and gas line vaults there is sufficient room. I know: I planted the front of my house with trees and landscaping, working around two utility vaults.
This city NEEDS trees, period. Each property owner remodeling and building needs to keep in mind the larger impact their building has on the neighborhood..street trees add value, character, liveability and reduce our carbon footprint.
As for the facade, I think it’s elegant; well proportioned, beautiful materials and well built. The monochromatic color tone is perfect and very appropriate.
Hi Everyone – Have seen it and gone through. You’re essentially looking at a multi unit building transformed into a home. As a result, certain elements are off, such as a Master Bedroom that’s the same size as one you’ll find in Diamond Heights condo. In addition, you are dealing with a block that has apartment buildings, as opposed to a palatial block. With that being said, beautiful materials have been used, some amazing woodwork, and good choices on finishes. Taking all of these things into account, I would say the price is roughly $2M high, but that’s not that unusual in this range.
Best of luck to the owner and agent!
Little off topic with trees but since it came up… have any of you noticed Polk Street between Sacramento and Post. Lots of new trees, some sidewalk planted, some in large planter pots. There’s also some in big yellow wood planter boxes on Jones in the TL. Is that putting a prom dress on a pig?
any news on 2799 Pacific?
On high-end listings generally, there is a deluge of places coming on the market. I count just about the same number of places listed at $1.5 million-plus in the last three days as were sold in the last three months (about 60). And we’re at well over 200 new listings at all price levels just in the last 24 hours (all per redfin). The next SS inventory chart will look quite different from the last. A lot of pent up supply. Let’s see if there is any pent up demand.
$4,125,000 invested in gold in 2000 = $14,500,000 today.
I’m just saying…
ex-SFer, you’re right, that is your special cause (sorry for stepping on your toes) but I thought Milkshake had been on the kitchen conversations before as well. 😉
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In other thread news, Tipster definitely gets comment of the day.
I believe ex-Sfers special cause is street trees, bad triangle is more of a peeve if I am not mistaken.
Is the furniture the owner’s or is it staging furniture?
Sparky: lol.
So… 1772 Vallejo is active now, is there a thread for that yet?
It’s pretty but a bit fussy/traditional, which is kind of refreshing for once. The kitchen looks nice. 🙂
Actually, I take it back. 1772 Vallejo is more than pretty. It’s stunning.
12.9 million – dreamin – not even close – 12.9 makes it about 50% overpriced
Veeeerrryyy tasteful, if your head is trapped in the 80’s. I can’t wait to see Krystle and Alexis go at it in that pool.
“Trees add value?” Is that what would have pushed the price to an even 13 million?
These are very mediocre views for this price range. If I had that kind of money (or even half that much) I would buy in Telegraph Hill and get truly stunning views.
The bathrooms also seem kind of blah for the price range. We’ve seen much better on this site for much less money. And if I’m going to buy something brand new, I want to have some say in the design and layout, or at least select the finishes.
Doesn’t the building code require a railing on the stairway next to the fireplace?
I wold guess 9,500 sq ft, making it $1,358/sq. ft. Too bad there aren’t any Golden Gate Bridge views. From the pics I thought the Master Bedroom was small (thanks, Sambo for confirmation).
However I love French Limestone facades and I totally agree with noearch that the facade is elegant, well-built, etc.
The worst thing about it (from what I can tell) is that there is no direct access to the garden from the kitchen- no indoor/outdoor eating area.
Overall I think it is well done.
So sad that people think this has a scrap of architectural merit at all — a wannabe pile of ‘fake old’ postmodern pastiche, festooned with that severe quasi-historical facade and over-the-top paneling and moulding…
It baffles the mind why a new building in 2009 would try so unconvincingly hard to fake like its old, versus acknowledging the era it was designed and built.
I pity the fool who buys this for anywhere near $12mill, instead of either buying an authentic historic house or hiring a great architect and building a unique work of art — whether more modern or timeless — what $12mill should get you.
Nice to possess but I wouldn’t want to live in it. For eight figures I’m going to want at least a backyard with some privacy.
I’m sorry everyone… I can’t afford a flat screen TV. I don’t know why I even comment on these posts… back to my dungeons and dragons group.
^My troll needs professional help, and a more original posting style.
Dude, here’s a hint: attack what I say (if you can), and you won’t look like such an oddball, bitter, brainless weirdo.
For example, in this post, I made two jokes and also said it was beautiful and would sell fast. This was apparently very objectionable to you.
So you could have brought up some flaws that others had not noticed or listed some comps, and then pointed out that it was therefore overpriced, and therefore I was probably wrong. Much more effective. Try it and you’ll see.
hahahhaha. Using the same name is pretty lame but I gotta give it up for your personal Troll, Tipster. That was a good one. Haven’t had a D&D blast on here before, to my recollection.
I say we get a group together and rent it like that other property.
Lets turn Billionaires Row into a party block with frat house college kids
I just noticed a bunch of high-end homes have come flooding onto the market. The prices are just all over the place. The best deal is definitely 3098 Pacific for 3.6 million. I’m sure it needs some work, but it looks in good condition, and the location is great. Meanwhile, 6.5 for a Washington St. Victorian? What are they smoking?
I still don’t have any idea about the pricing for 2935 though… It seems a bit high, but not totally unreasonable. The quality (from the pictures) seems far better than other properties on the market and, oncee again, quibbling about the bidet and kitchen layout are irrelevant. Pretty much all high-end buyers rip out the kitchen first (or at least they used to!). The point is, the house has good bones and a solid structure. Everything else is just an easy cosmetic fix. The down side is, that’s it’s just on the wrong side of the street. One thing that hasn’t been mentioned though, is the house is south facing and has large windows in the most used rooms, which are going to be very, very hot on days when the sun is out.
Friday was like a field day of fun for high end listings. I had to check that washington listing 3 times to make sure it wasn’t sitting atop an oil field or something. Those folks are in for an awakening. The vallejo home is by far the winner in terms of wow. I simply love the details although I’d change pretty much every wall color in the place.
The more I think about this place the more I’m convinced that it’s not going to sell fast. If I was Greg I would be dropping the price like a rock here before 2849 Pacific listing closer to divis comes on the market.
Personally, I don’t think the buyers are out there and this level of inventory is going to put the buyer in the driver seat for sure. I’m sure the next few weeks will have even more inventory.
I know the owner. He’s never lived in the house. No renters since he purchased. All the views are South-facing, except the roof. His hope was to do an enclosed space on the north side of the roof, but I guess those plans were never approved. I recall he had some annoying neighbors opposing it. It’s been a couple of years since I’ve been in the space. It was a long and expensive project.
no way does this house go for 12 milion. 9.5 or so is more realistic. I little too flat faced of an exterior but still a very nice home. Sad little backyard though.
Is not this residence on the same block and same side of street as the El Drisco Hotel? I have always been curious how some of the high profile neighbors feel about the hotel, and whether it adds additional noise and traffic, though it always seems very quiet whenever I have walked by.
Can I take the 12 million and spend it as it follows instead?
1.) Moonlight Bunny Ranch ($12 million)
I don’t know if they have a television over the fireplace, but I am pretty sure that I wouldn’t care.
More so than the article, the comments on this blog post are very interesting.
I agree with what most said – especially the lack of front exterior landscaping and TVs above fireplaces.
This house is on the Junior League home tour and it’s actually much nicer in real life than the pictures would suggest. I don’t think it’s grossly overpriced like 2849, which is much larger but has some weird aspects that would need to be corrected (i.e. disastrous kitchen layout). Ken Fulk did the staging for 2935, by the way. Also, if you’re bored, you can play spot the items from West Elm in the two houses.
Nine Years + 278 Days on the Market. In Contract-FIRM. Wow. Can’t wait for this one.
[i]”at what price!”[/i] 🙂
In other news… 2807 Clay 1500sqft listed at sub 1M listed today. I predict it will be gone by Sunday.
price for the house on Clay is crazy… There will definitely be overbids. I think the sale price will be 1.25….
could be higher than that. It doesn’t even look that bad inside.
Sold for $11.5M.
2009 was a good year for hedge funds (2010, not so much so far).
2935 Pacific, sold. $11.5, -7% from the $12.9 ask. Surprised that buyers are out there at these prices in SF for homes with no water views (other than the pool on the roof). 🙂 Congrats to seller / buyer. I liked this home from the get-go, but I would have bargained a bit harder if I’m the buyer. Anyone know the actual square footage of this home?
Sold for $11.5M.
2009 was a good year for hedge funds (2010, not so much so far).
Was the buyer a hedge funder? or are you making that up?