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The former Getty mansion at 2900 Vallejo brought in the biggest price tag this year at $27 million. It was completely remodeled but still maintained its classic style and appeal.
The former Getty mansion at 2900 Vallejo brought in the biggest price tag this year at $27 million. It was completely remodeled but still maintained its classic style and appeal.
Photo: Jacob Elliot
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The former Getty mansion at 2900 Vallejo brought in the biggest price tag this year at $27 million. It was completely remodeled but still maintained its classic style and appeal.
The former Getty mansion at 2900 Vallejo brought in the biggest price tag this year at $27 million. It was completely remodeled but still maintained its classic style and appeal.
Photo: Jacob Elliot
No San Francisco properties could top the two $30-million-plus homes that closed last year, but the ultra-high-end market continued to bring in some pretty impressive prices in 2019.
The biggest sale of the year was 2900 Vallejo in Pacific Heights, which went for $27 million in April after coming to market at $29 million in February.
That’s a relatively quick turnaround for a house at such a lofty price point. Several homes in the top tier that came on this year have yet to find a buyer. But listing agent Ludovico Mazzola, who co-listed the home with his brother and business partner Michelangelo, said the home went quickly because of its stellar location and brand-new finishes.
“Everything was touched during the remodel so the new owners didn’t have to lift a finger,” he said. “When we worked with the seller during the renovation, we made sure to advise on every minute detail to ensure maximum appeal to potential buyers.”
The five-story mansion was built in 1912 and purchased by Vanessa and William Getty in the early 2000s. They sold to the developers in 2015 for $12.5 million. The sellers never intended to live in the home, said Mazzola, but instead bought it knowing they would be taking on a years-long renovation that would update the property for today’s buyer while recreating its historic charm with newer materials. (Only the “stately” lions out front are original, said Mazzola.) That combination of traditional style and modern amenities — like a top-floor entertaining space with a retractable roof — combined with a premiere location, seems to have done the trick.
“I can’t speak much about the buyers, but at a high level, the turn-key aspect and location were the draw,” said Mazzola.
Pac Heights and nearby Presidio Heights are often the neighborhoods that bring in the top sales each year, and that was true again this year as the second-highest sale went to 3760 Washington St. The 1926 nine-bedroom, over-10,000-square-foot home just south of the Presidio Wall sold for $26.5 million in March.
But the location of the third-highest sale this year was a bit of a surprise. In February, 89 Belgrave sold for $22 million — a new record for its Clarendon Heights locale. Listing agent Neal Ward believes the new-build home brought in its unprecedented price because of its “unparalleled architecture, finished at a level never seen before,” as well as its stunning Golden Gate Bridge to Salesforce Tower views and private location. He says the fully furnished home was a hit among the few high-end buyers who got a chance to see it before it was snapped up; it went into contract before it even hit the open market.
While the sale is an outlier for the neighborhood, Ward believes that could change in the future. “On secluded private locations with views, there is definitely a market for turn-key finished and done properties,” he said.
The top homes sold in other locations throughout the city this year certainly fit that description. In Sea Cliff, the top sale for the year was 140 Sea Cliff, which sits directly above the Pacific Ocean and has unobstructed views from its substantial main-floor patio, upper-level master bedroom and rooftop hot tub. Despite being built in 1920, the 6,300-square-foot five bedroom has undergone substantial renovations over the years. It came on in June asking $19.5 million and sold for $18 million at the end of July.
The biggest sale in Nob Hill was 1350 Jones, a 1909 property with a studs-out remodel that combines its classic facade with modern design and amenities like an elevator, wine cellar, media room and open entertaining space with panoramic views from Coit Tower to the Bay Bridge. With a mere 5,200-square-feet and the busiest location of the bunch — just two blocks from Grace Cathedral — it sold for $12,750,000 in early December.
Emily Landes is a writer and editor with an obsession with all things real estate.
Article source: https://www.sfgate.com/ontheblock/article/How-much-was-the-most-expensive-home-sold-in-SF-14910295.php