Listed for $6,750,000 last month, the sale of 625 Duncan Street has just closed escrow with a reported contract price of $7,000,000, eclipsing the sale of 526 Duncan for $6,100,000 in 2011 to become the most expensive home sale in the history of Noe Valley.

Having characterized their efforts as a fight to preserve “the character and charm” of the neighborhood, the sellers of 625 Duncan who paid $5,818,000 for their 5,933 square foot home back in 2008 were unsuccessful in their bid to downsize the plans for a neighboring 4,820 square foot home to be built on the vacant lot next door.

Comments from Plugged-In Readers

  1. Posted by Dan

    Not nearly as nice as the T house. Very large, but not much else remarkable about the house besides the size and the price. Plus: construction next door.

  2. Posted by Fishchum

    $7M with plans to build on the lot next door? Good lord.

  3. Posted by Sam

    Keep this nonsense as far from Mission street as possible.

  4. Posted by Futurist

    It’s not nonsense. It’s business. It’s the demand.

  5. Posted by inclinejj

    Supply and demand and a whole bunch of late 20’s somethings and early 30’s with new Google and Facebook money.
    SF has always been expensive on a square foot basis.
    First it was the craze now its Google and Facebook!
    Oh and Biotech!

  6. Posted by sf

    It’s ok guys, the board of suckers is on it! All illegal in laws will be legalized! Prices will fall! Doves will sing! Latinos will hold hands with Googlers! Everybody will be a millionaire!

  7. Posted by eddy

    Anyone have the highest price per square foot in Noe handy?

  8. Posted by lol

    What’s fascinating is that it went over asking, meaning this was a bidding situation. At these prices, I can just imagine the excitement of the realtors negotiating. They were sitting at the grown up table.

  9. Posted by around1905

    At this level of property, there weren’t a lot of other options for sale for several months leading up to this listing. For folks looking to spend in the 5-10M range, this seems to have been the best option.

  10. Posted by noe mom

    Jesus F. Christ. I wish I could sell them the furniture they are going to need for this thing. Also the thermal underwear they are going to need when the fog and wind come in up there.
    All the previous comments were on point. Can’t wait to see what follows. This particular sale should be done as a theatrical play with Meryl Streep as the real estate agent and Matthew McConnehey (whatever) as the buyer. Oh, wait. That would be a movie wouldn’t it.
    Absolutely ridiculous. And obscene.

  11. Posted by Absolut

    It’s not obscene compared to stock prices, which is what potential buyers of this would have most of their assets in. The price of this house in shares of FB, GOOG, or TWTR is much lower than any other time.

  12. Posted by to become full, be empty

    yeah, downside may be 20-30%
    upside more fun than a pile of stock certificates

  13. Posted by Latitude

    Think this is bad? The Hoffman property went for 1.3 million over asking! And 800k over ask on Alvarado.
    [Editor’s Note: Eye-Popping 21% Annual Appreciation For A Modern Noe Home.]

  14. Posted by eddy

    If this was a bidding “war” between 2 or 3 or 4 people; and it seems it must have been; it highly possible the loser(s) quickly went to compete for the Hoff. Only $5M seems a deal compared to $7M. Seems $1100/psf is the new $900/psf,
    Also, seems we’ll have a $5.3M+ home coming on the market by way of 625 Duncan sometime in 201x?
    Fun times.

  15. Posted by social xray

    The most obnoxious thing about this is the owners of 625 Duncan apparently unsuccessfully fought the owners of the nearby lot (#526) who wanted to build a smaller home – “to preserve the charm of a neighborhood” that they’d already disrupted with their home. SO typical myopic and ungenerous of the “masters of the universe.” Is this why they’re moving?

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