Price for Hidden Glen Park Estate Reduced Another MillionJune 26, 2018
Having hit the market priced at $12.5 million this past September, the asking price for the massive Glen Park estate at 47 Chenery Street has just been reduced to $8.5 million with a number of incremental reductions between.
Once again, in addition to a garden cottage and three-unit building which fronts Chenery, the estate’s hidden main home which was built for Robert Pritikin (the former ad man responsible for Rice-a-Roni’s iconic jingle) and is known as both the Pritikin Museum or Chenery House sits on a half-acre parcel in the middle of the block and is outfitted with five bedrooms, five baths and a grand staircase which leads up to a signature “penthouse” pool with a retractable glass roof.
And Pritikin’s rather spectacular art collection, which has been “valued at over $50 million,” is not included in the sale.
Comments from Plugged-In Readers
This monstrosity should be demo’ed and affordable housing built in its place.
I can’t believe this place hasn’t sold at such price while that absurdity on 18th St. off Church continues to ask $11 Mill.
[Editor’s Note: Which is actually down from $11.9 million the week before.]
It abuts Fairmount Elementary School. It would be nice of it could be turned into part of the school’s campus somehow.
a POOL in an area that it might actually be used! Please lower the price to $2m,
As always, I don’t understand what these types of price changes are supposed to reflect. These are unique, highly illiquid vanity properties comparable to art pieces. If real estate was sold like a Van Gogh painting, we would see a multiple round auction starting at a lower-than-expected initial price from where the property would be bid up. As real estate is not a multi-round auction (I know there are multiple bidders in real estate, but in general, they don’t know the other bidding prices), sellers of these ‘art piece’ luxury estates start at a sky-high price hoping to find the one buyer (or should I say collector) that bites. If they cannot find anybody, the price drops.
If anyone is inferring general SF real estate market trends from these types of sales, you can also use the latest price of a 1962 Ferrari 250 GTO Berlinetta for the next time you buy or sell a Toyota Prius.
I think all of these celebrity houses – be it thugface’s Seacliff fixer, or some random Giant’s desert abode – are just presented for entertainment value…much like a newspaper has a gossip page. And given that this post has attracted six comments, the estimate of that value doesn’t seem too far off.
As for your other point: $38,115,000…but that was 4 years ago, so better consult KBB instead.
I don’t suppose there are any other large, land-locked parcels going unnoticed in the City…
There were until the 70s.
One in lower Haight area, north of Haight and west of maybe Broderick or Baker, completely enclosed from the street by residences. It may be a park now, not sure.
The other one is actually really in Glen Park, there’s a driveway width street access. Some folks bought it in the 70s and started talking about building a community of seriously upscale homes in there but the existing neighbors squelched the idea. The banks lost a lot of money I suppose on loans to those prospective developers. I think it may be a park, the driveway is not gated.
The largest parcel of land in San Francisco is the Victor Riter estate, the land behind Stanyan Street up above Parnassus. There are two fenced and locked driveways leading into the land, on Stanyan, one near 17th, the other further down the street.
I don’t know of other large pieces of property and I doubt at this point in time that anything is unnoticed. Victor was a horticulturist, so maybe his property will someday become a botanical garden.
Darn! There you go blabbing about them all! So much for my stealth acquisition.
There’s a lot in the middle of backyards at Hayes/Masonic as well.. but I don’t think there’s any access.
“Over $50 million art collection”
The replica of Boticelli’s Primavera is worth at least $500 alone (including the frame)
$5.98 without the frame
UPDATE: The list price for 47 Chenery has just been reduced another $715,000 to $7.785 million and the home has been relisted with an official “1” day on the market according to all industry reports and stats.
UPDATE: Despite some particularly bad reporting on SFGATE yesterday, the list price for the Pritikin estate has note been slashed to $5.5 million.
Instead, the three-unit building which fronts Chenery, and had been included in the listing for the estate, has been separated from the listing for the mid-block home which is now listed alone as 45 Chenery with a $5.5 million price tag.
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