The San Francisco mansion at 2901 Broadway has been listed for $55 million. Or rather, it was listed for $55 million back in 2007, prior to the market tanking.
Based on our calculations, which we just double checked, that’s $10 million more than the current $45 million price tag for 950 Lombard (which has recently been misreported as “the most expensive home ever listed” in San Francisco) but $15 million less than the penthouse atop the San Francisco St. Regis which was listed for $70 million back in 2008.
While 2910 Broadway ended up selling for $28.25 million in 2012, purchased by Jay Paul, the billionaire developer behind the tower at 181 Fremont Street, another eight figures has since been invested into the complete transformation of the former Decorator Showcase home which has effectively been under construction for the past six years and isn’t nearly complete.
And in the end, the cost basis for 2901 Broadway is likely to be around its circa 2007 list price, at least.