Having been expanded, renovated and converted into an “executive-style home,” complete with an elevator connecting its unexpected five floors of space, the now 3,172-square-foot St. Francis Wood house at 250 Santa Paula Avenue, which was originally designed by Angus McSweeney, was foreclosed upon by Deutsche Bank last year following years of attempted short sales, near misses and recapitalizations (including by the Laborers Health and Welfare/Pension Trust Fund for Northern California in 2019).

Listed as a bank-owned property for $4,197,600 this past September, the asking price for 250 Santa Paula Avenue was reduced to $3,987,800 in October, to $3,788,500 in November and then to $3,599,100 in December.  And the sale of 250 Santa Paula Avenue has now closed escrow with a contract price of $3,239,200 or roughly $377,000 less than the $3,616,117.74 Deutsche Bank had been owed at the time it foreclosed.

3 thoughts on “The Lenders Take a Loss in Saint Francis Wood”
    1. Aren’t – or is it weren’t?? – they the Trump lender? Maybe it’s more of a French an Austrian twist…Masochistdeutschebank.

  1. I’m new to this story and have tried to catch-up by reading the prior posts, but there are some odd gaps in this story.
    Who, other than the ex-president would have a home loan from Deutschebank? And how did a union pension fund wind-up with an interest in this property?

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