After two
and a half years and a price drop, the enormous Queen Anne at 2724 Pacific
Avenue has officially changed hands for nearly $24 million (final sale price:
$23,889,000), property records show. Designed by E.A. Hermann in 1894, the
13,500-square-foot stunner is large enough to host parties for 500, plus a
sizable afterparty in the carriage house-slash-game room-slash-gazebo. It's the
biggest sale of the year so far, though with the penthouse at 2006 Washington
now in contract, it likely won't hold the top spot for long. The seller, former
Pacific Stock Exchange chairman Doug Engmann, put the seven-bedroom on the
market in November 2012 for $30 million; since then, it's routinely fallen in
and out of the top spot on our list of the 25 most expensive homes for sale in
San Francisco.
Back in
January, the stately Queen Anne slashed its price down to $21.75 million, a
chop that reflected a smaller amount of land than originally advertised. The
property was originally set to come with three parcels of land totaling .61
acres—which made it one of the city's largest residential parcels—but the lot
count dropped to two parcels with .36 acres.
The new
owner's identity is concealed behind an LLC named 2728 Pacific, which could
refer to one of those neighboring parcels. Property records show a total of
three parcels accompanying the sale, so it's possible that the buyer netted the
entire package for a tidy sum well below the old $30 million sticker price.
2015's
biggest sale is no record, falling well below the $35 million sale of 2950
Broadway in 2013 and even the $28.25 million sale of 2901 Broadway the year
before. Plus, with the aforementioned 2006 Washington deal on the way, our
money's about to leave the koi pond and head for the condo market, which seems
to be where all the action is this year, for better or worse.
- Article and photos sourced from http://sf.curbed.com/archives/2015/03/25/2724_pacific_in_pacific_heights_sells_for_23889m_is_biggest_sale_of_the_year.php
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