On the market as “the finest residence in Ross” with a price tag of as much as $20 million over the past three years, the asking price for the recently renovated eight-bedroom home at 1 Upper Road was quietly reduced to $15.995 million last year.
And having been re-listed as a “Hampton’s (sic) style estate,” with a detached guest house, pool house, and a collector’s 8-car garage for $10.995 million two months ago, the sale 1 Upper Road, which now includes “a park like 1.7 acres” of land near Phoenix Lake – versus 3 acres last year – has just closed escrow with a $10 million contract price.
At the same time, the missing 1.3 acres have been carved off and sold for $5 million with approved plans for another house.
The full 3-acre estate had been purchased for $14 million in 2010.
Nice job of destroying the interior. Paint that old clear redwood a nice white, or even beige. Surprised they didn’t stucco the outside.
I agree the interior – what we can see of it anyway – is lifeless (not sure how the poster [above] knew what it looked like “before”): wonder if that had much to do with what I find a remarkably low sales price.
The low sales price surprises me too. The top third tier of homes has been dropping a bit in price throughout the Bay Area. Part of that may be related to the SV/tech situation. Marin, however, is a world unto itself and not driven by demand from SV buyers near as much as other closer in areas. Even the less than stellar interior doesn’t seem to explain it. I’m chalking this up as an inexplicable one-off situation.
[Editor’s Note: It’s amazing how many one-off’s we’ve been seeing recently.]
The family split off a 1.3 acre portion of that property and sold it separately for $5M with approved plans for another house. The combined properties were purchased in 2010 for $14,000,000. Then they split it and sold the house for $10M and the lot with approved plans for $5M.
[Editor’s Note: Since clarified and updated above.]