Asking $22 Million for a Stately Pacific Heights CompoundMay 19, 2016
Purchased as a legal three-unit building, which had long been used as a single-family home, for $7.3 million in early 2014, an application to merge two of the three units was approved, the building was gutted, and “2476 Broadway” has just returned to the market as a contemporary 9,340-square-foot “Stately Pacific Heights Compound” priced at $22 million.
Touted features of the remodeled home, which was “designed for luxurious residential living,” include four floors connected by an elevator; six bedrooms (all en suite); a roof deck above and four-car garage below; and a “display wine room” located next to the “flexible game room area” and “dedicated home theater with 120” projection screen.”
We’ll let you find the second kitchen and “2478 Broadway.”
Comments from Plugged-In Readers
Nice remodel except for the fact that I’d have done almost everything differently.
exactly! such an odd choice to put main living floor on top. I guess I get it because of the views, but it’s a long way up from the garage to the “first kitchen.” Even the exterior of the before was nicer, no?
I’m not so sure the owner of this place is going to be doing much cooking, but if they do, there’s that elevator. Putting the main living level on the top floor is about the only thing about this that I like. Sure, it’s lots of room and some of the finishes are nice, but the way it’s staged is way too cold for my tastes.
I didn’t even notice the reverse floor plan. Are they insane?
Yeah, let’s put the kitchen on top of the master bedroom. Also, how much would it suck to go all the way down to the garage only to realize you’ve left your keys on the kitchen counter, then ride the elevator all the way back to the top floor. And who wants to run down 4 flights of stairs to get your pizza? Assuming people who buy places like this still get pizza, because… pizza. Or at least the trycaviar delivery guy.
“Ah, Geeves, old boy, fetch my keys and a slice of pizza, will you, please?”
I live on the 3rd floor of an apartment building and deal with the issues you describe. It’s hard, but somehow I find a way to live on.
Disagree. Except for the oddly hidden front door, I much prefer the balance and materials on the new design. The original is oddly proportioned, with the arched windows not really integrating well with the standard top floor rectangular windows. And that odd little top floor window in the corner looks out of place. Plus, I hate sky blue stucco! LOL
That’s where the views are. It is a manageable two flights up from the front door to the Kitchen/Main level.
Forgot your keys! Not a problem. I’ll just hop on the bus outside my house. Talk about convenience. Honestly, I keep wanting to start a list of things I’d do differently and have to stop thinking about it. Maybe tomorrow.
The bus does not go down Broadway street. (Or even Pierce which is the closest cross street).
A bus line comes west along Broadway then turns north onto Steiner so the closest stop is just under one block from this house at that corner. Chariot the start-up commute service has a stop almost in front of this house at Broadway/Pierce. Even though a family living in a 22MM dollar house is unlikely to take the bus much it is there.
And that’s why no one gives you money to do anything…
Speaking of developer flips that have to hit the market like rightnow. I’m not in a good mood, so I’ll just say the interior is weirdly dated, like 2003 dated.
The floor plan and some finishes seem similar to 2250 Vallejo, which, in spite of its spiral stair of death, I prefer to this. Anyway, it didn’t sell, and neither will this. The facade, while better than that blue mess, is hideous IRL. Like a high-end women’s boutique at the Stanford mall… built in 2003.
Someone was complaining about gray/white trend recently and wanted to see more beige. They should love this then.
And it’s convenient to Muni!
no one is running down 4 flights of stairs to get pizza or the car keys….well not these home owners…the butler is getting the pizza (assuming they don’t actually have an in house chef doing all the cooking) and the driver is waiting for them outside when they need a ride. Common day challenges do not apply to those in a $22mm mansion.
I like the living area on the top floor….you spend 90% of your awake time in the house in the living area so you might as well enjoy the views. never understood why a master suite had a great view when you spend 90% of your time in the bedroom sleeping.
It’s actually amazing to wake up or go to sleep to a view. In a family room, one is often eating and looking at your food or watching TV. In any case, the way they did this, both the master and family room have killer views, but they put the family room ON TOP of the bedrooms. (And four flights up…) Odd choice. The living room has beautiful views of wires…another interesting choice
Charlie, it looks like it has a view from the master bedroom too. The view is out the back, not the front, No wires anywhere to be seen.
The big plus to living in this neighborhood (aside from the “Pacific Whites” factor – which is not a plus in my book), is the view. So I can see why they would set it up so that you spend the most time on the floor with the best views.
Nothing to say about the price – I wouldn’t want to live here, and it is out of my league anyway. So “the question is moot.”
You mean “Specific Whites”
I don’t like anything about this remodel except the roof deck. Seems like McMansion finishes in an otherwise modest and classic looking exterior. They even stripped out the stately looking hedges out front. I shudder to think what they may have done to the backyard foliage.
42 steps for your guests to climb to the living spaces on the fourth floor for your big party.
They will need a door man at each end to run crowd control as your guests wait for that tiny elevator. I think reverse floor plans can be great, in a smaller home, this is pushing it.
Actually I think the top floor + roof deck is an awesome party layout. The inconvenience is you may need to hire a door person for a few hours to let people in since everyone will be 2-3 floors up. Also the caterers will hate it since they like setting up in the garage which is 2 floors below the street level and many sets of stairs to climb each trip. Using elevators slow them down alot.
“Purchased as a legal three-unit building, which had long been used as a single-family home, for $7.3 million in early 2014, an application to merge two of the three units was approved”
In addition to its assault on planning logic – if not feng shui – how did this Crime Against Density escape comment? Wiped out as many OOMR units as several underfunded NIMBy’s put together.
And before signing that $22mm check, probably good to do some checking on that property right next door (2470 Broadway). Truly a ‘fixer’ in that neighborhood…just 4,500 sq ft and listed at $7mm, but when you check the MLS listing, just one picture of the front is shown, which always suggests fixer sale.
So expect 12-18mos of construction next door and probably filing a few DR’s to try to protect your $22mm views. Or maybe the perfect in law suite for the truly price insensitive…close enough to babysit on a regular basis, but not under your same roof!
Exterior looks great.
$1,500 psf * 9,340sf = $14.01mm would be a good outcome for these sellers.
This houses faces the SF super-luxury value trap:
If you build a house that would sell for 20mm+ in LA or NY or London, we have only to offer rich nerds and fog, not media hub or a global financial center. Nothing’s terribly sexy about Pac Heights. No oligarchs care very much.
Also, as pointed out above, the floorplan is weird. I am sure the sellers would make money at $14mm. Good luck to all.
Paid 7+ to buy it. Had they put $5-6M in it to fix it you might get to a $20M sale price. I’m not really sure what happens to this place at the end of the day. Corners cut and compromises everywhere. I do like the fire pit cutout on the roof deck.
@soccermom Are you kidding Pac Heights especially along Broadway/Pacific are full of oligarchs and ceo’s. We don’t have the sheer numbers of NYC or London but we also have a much smaller RE market so good view houses on good streets are bid up.
Pac Heights is full of our “local” oligarchs, but glamorous oligarch from places Russia, or the Middle East don’t give two craps about Pac Heights or San Francisco in general. It just can not compete with sexy places like New York and Beverly Hills in terms of appealing to those types of buyers.
Case in point, San Francisco performs very poorly in terms of sales above $5m. It’s mostly NYC, Miami Beach Areas, Aspen and the Westside of LA.
There were 929 $5m+ home sales in Manhattan, 113 in Beverly Hills last year, and only 66 in San Francisco. There were 211 $10m home sales in Manhattan, 38 in Beverly Hills and only 6 in San Francisco.
I think that’s right. SF’s wealthiest tech titans and ceos often own homes in LA, but who from LA buys here? Also, buyers in the $20+ million range typically want outer Broadway. I can only think of one recent sfr sale over 20 that wasn’t on Broadway west of Divis.
What interests me is looking ahead say 10 years. A spate of Broadway sales 4-5 years ago has led to some astronomically expensive renovations. I’m hearing 50+ million. Where do you go from there?
Other areas of SF now rival or have surpassed D7 in terms of desirability, but for those that want Pacific Heights, how much will buyers really pay? We’ve certainly peaked out for now… but in 10 years? Who knows.
Umm… Our trivial ‘local’ folks only have names like getty, ellison, benioff, zuckerberg, steyer, etc. Frankly I can’t remember the name one ‘glamorous’ russian or middle eastern one. I did say we are a very small market so I don’t think I’m being corrected with the data.
I don’t know. That sounds like a good thing. Spoiled Saudi minor princes slurping off oil money while their government funds pernicious networks of Wahabbi terror cells all over the place. What an awful neighbor.
Or Putin flunkies.
Marriott. The roof deck will be usable about ten nights a year. Starting about noon, the westerlies blow like hell most of the time out there.
SF micro climates? I live a few blocks away and am out on my (shared) roof deck all the time.
Look at the facade, look at the interiors.
$15 MIL — no more. if stock market stays up. check back in a few months.
Given the street level view is partially obstructed I can see why. It’s a spec house decision it would be a hassle in day to day living but they needed a spectacular kitchen/great room – and that they got.
One other result is the street level floor seems to be one giant foyer – a floor searching for a function. They did stick a bedroom there as the 6th BR but is that a 2nd nanny room? There is already an au pair suite on the bottom floor.
Trying to put it nicely as possible the flow of the house is ‘funky’
Gotta love the brightly lit wine display room for the ‘collector’ who would rather destroy his/her wine than let it go unseen.
2480 Broadway St just posted for sale at $15.5. Suspect it will sell first. Doubt it will get $15.
Seems very odd that there are three homes in a row for sale. I’ve been out of town for a few months, or I’d do some sleuthing here. It would be a little funny if it was revenge pricing for 2476. It’s hard to see 2480 going that much over 10 right now. But again, we’re seeing a lot of high-end properties scrambling to get on the market before things head a bit south.
[Editor’s Note: Three in a Row on a Coveted Block of Broadway.]
UPDATE: The asking price for 2476 Broadway has just been reduced by $2.5 million (11 percent).
Comments are closed.