Bank-Owned Landmark San Francisco Mansion Sells For $11.5MJune 15, 2012
Nine years after completing a reported $10 million (plus) renovation, the San Francisco Landmark Ellinwood Mansion at 2799 Pacific was foreclosed upon in 2009 with $11,363,000 owed and no bidders at $10,000,000 in cash on the courthouse steps.
It wasn’t until 2011, however, that the bank forcibly removed the ex-owners and changed the locks on the Pacific Heights mansion with a rather luxurious spa out back.
Returned to the market two months ago asking $12,500,000, the sale of the 16,474 square foot property at 2799 Pacific closed escrow today with a reported contract price of $11,500,000. And yes, there were multiple bidders.
A tip of our hats to the historians and Ellinwood family members who plugged in to set the house’s (and family) record straight.
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