Having undergone an extensive renovation by The Wiseman Group back in 2006, the nearly 9,000-square-foot mansion at 2590 Green Street, on the border of Cow Hollow and Pacific Heights, returned to the market priced at $32 million in October of 2019.

“Meticulously designed to capture the essence of inspired elegance,” with “a sanctuary for modern living” hidden behind a classic façade, the five-bedroom home, which includes a main suite with Golden Gate Bridge views and two fireplaces, is now outfitted with an “unrivaled pent room [with] unobstructed views spanning across the bay;” a requisite state-of-the-art home theater, gym and home office; and a showcase 7-car garage.

And having been reduced to $28.8 million in mid-2020 and then re-listed for $22.4 million a month ago, the sale of 2590 Green street has just closed escrow with a contract price of $19.5 million (and “only 32 days on the market” according to all industry stats and aggregate market reports).

25 thoughts on “A High-End Pad Fetches Eight Figures Under Its Original Price”
  1. RE agent speak: “on the border of Cow Hollow and Pacific Heights”

    The “border” region must be pretty large.

    Union St. is the “main street” of Cow Hollow. This house is in that block!

    1. Actually, the dividing line is Green Street, the south side of which is Pacific Heights while the north side is technically Cow Hollow. So yes, it’s literally on the border of the two.

      1. “Technically”?? As in it’s registered under a trademark somewhere…or something like that ??

        1. Arguing about the exact dividing line between Pac Heights and Cow Hollow is peak internet.

    1. Ha, first thing I thought when seeing YellowGarage was “where’s the workbench?”. But of course anyone who could afford this place could also afford to outsource all of the mechanical work. Not that you have to be wealthy to outsource your auto maintenance though.

      They’d just give their mechanic keys to the garage, an open account, and then text them “The black Testarossa is sounding a little rough. Can you take a look and have it back home by Saturday?”

  2. Seems like the perfect place for that Coinbase executive to zip right downtown to their SF west-coast branch office on Market Street.

    1. Sure, except that earlier this month Coinbase announced that it was shutting its former San Francisco HQ as it plans for a decentralized, and remote-first, workplace:

      Cryptocurrency-trading platform Coinbase announced in February it would downgrade its San Francisco headquarters to a normal office, as it pushed ahead with plans to become a decentralized company. It’s now shutting that office down entirely, as it simultaneously targets a “remote-first” strategy. It announced Wednesday the office would close in 2022.

      They could have easily kept their S.F. office open with the proceeds from their recent IPO.

      If Coinbase kept the HQ-type office, then local real estate agents could then go around sowing FUD along the lines of “if you work remotely, don’t expect your career to go anywhere, because you’ll get beat out by the folks coming into the office”. This way, employees can work remotely and not give away huge portions of their earnings to the S.F. real estate crowd, many of whom are from elsewhere and are only here temporarily to make money and then depart in the near term with their winnings to Texas or Florida.

      1. There’s always a HQ: it’s required by law…well sort of.
        So I would amend that to “…zip right down to the West Coast Branch…in his dining room.”

      2. Exactly. Splunk’s CEO recently moved to Austin and today the company put 100k of its office space up for sublease. Pushing the total available sublease space towards 10 million feet. Splunk also announced that most of its employees will be able to work from home on a permanent basis

        Agree the remote work argument that claims working from home will hurt one’s career chances is becoming less valid. BTW, Coinbase abandoning its SF headquarters was in part a move to escape coming under the SF HQ tax,

          1. Either way it effectively has eliminated them from falling subject to the HQ tax Of note – at a recent call with shareholders the head of Wells Fargo refused to comment on reports Wells is planning on moving their headquarters out of SF – retaining a traditional HQ, just not in SF.

          2. The direction might be a little surprising: as noted Oakland gained, while Alameda County – an area that includes the City of Oakland (dontcha know!) – overall lost people. Of course Oakland built quite a bit of housing – 2754 units – and presumably many of them found tenants…unlike its elderly neighbor, whose 1-1/2 times as many newbies couldn’t prevent a drop.

        1. “Agree the remote work argument that claims working from home will hurt one’s career chances is becoming less valid”

          of all the nonsense you’ve crammed on here, this is one of your lamest takes. I mean even if you really believed it, which I doubt, the timing is terrible. Truly. It beggars belief that you’ve spoken to anyone in say, legal, or finance in any larger scale WFH scenario, for one.

          1. What are you talking about? That is literally what the Coinbase CEO said was the reason for ditching their SF HQ:

            “We’ve committed to having no HQ, and it’s important to show our decentralized workforce that no one location is important than the another.

            Closing our SF office is an important step in ensuring no office becomes an unofficial HQ and will mean career outcomes are based on capability and output rather than location. Instead, we will offer a network of smaller offices for our employees to work from if they choose to.”

            Brahma is right. You can kiss your FUD (and your commissions) goodbye…

          2. I’m talking about conventional wisdom and particularly, larger organizations with regard to finance and legal, etc. I’ve said that. What are you talking about? You seem to be talking about coinbase and, what, splunk, as definitive. Is that what you’re saying? Coinbase and splunk capo quotes are definitive? Indeed, I disagree. And as to kissing my “FUD,” and “commissions” goodbye? I think not + weird.

            By the by. Where were you when it was pointed out that nearly every single thing Seattle Dave said about SF during the pandemic was also widely written about as being true of Seattle? exodus, jobs, economy not coming back, new wfh reality, etc etc? Were you paying attention?

      3. SF Real Estate boom cycle is over. This is a mean reverting market. But before the prices settle at their average and adjust for reality they are going to crash if they haven’t already crashed or in the process of crashing.

        But San Mateo County is doing quite well.

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