September 20, 2006
If You Have To Ask (2901 Broadway)
The ten thousand square foot mansion at 2901 Broadway (built by Henry C. Smith in 1925) is on the market (but not officially listed). And although the property statement notes "Pricing Information Upon Request,” apparently misleading rumors have it pegged at $75 million. (As we said, if you have to ask...) And all of a sudden, 2845 Broadway seems just so
pedestrian new money.
First Published: September 20, 2006 12:05 AM
Comments from "Plugged In" Readers
I am the listing agent, at Pacific Union Real Estate, of this property, together with Peggy Economos, also of Pacific Union and Constance Heldman of R/E Source Realty. Two different firms listed this property for sale and three agents have formed a team in order to provide the very best service. Misleading information has been released about this listing. There is no listed price on this property. A well informed buyer and all experienced agents will know the price range based upon comparable sales and listings in the neighborhood. They may then make their best offer, based upon their own judgment. For more information about how qualified buyers may view this property interested parties may contact Dona Crowder at 415-447-6244, Peggy Economos at 415-345-3107 or Constance Heldman at 415-435-1023.
Posted by: Dona Crowder at September 20, 2006 2:32 PM
OK, I'll bite. What additional service does a team of three provide, that can't be provided by a single agent? Do you each specialize in various functions, or is it essentially covering for one another when one person isn't availble?
Posted by: Anonymous at September 20, 2006 4:30 PM
OK, I'll bite as well. Why not set an asking price? Are you planning to price it, or will it remain "make offer?"
Posted by: Anonymous at September 20, 2006 4:44 PM
It's Broadway. As in Broad Way.
There is no "street" after it, per Herb Caen.
Posted by: Bay Gelldawg at September 20, 2006 6:23 PM
The last time it was on the market was 1946 -- for 93,000. That's some might fine appreciation!
Posted by: AgentInSF at September 20, 2006 8:56 PM
Using the online inflation calculators 93K in 1946 goes to 945K in 2005. (Whether you trust those calculations is up to you.) So at 75M that would still be a good return.
Posted by: diemos at September 20, 2006 9:39 PM
Dang, look at all those stairs you have to climb to get to the front door! Maybe you really do have to be new money to physically get into the house. :)
Posted by: peetie at September 21, 2006 12:03 AM
Looks like there's an elevator in the garage...
Posted by: Michael at September 21, 2006 12:45 AM
White it seems like huge appreciation going from 93K to 75Mill, in actuality it is just over 11% per annum. When you consider that this house will sell below 50 Million, the actual return is less than 10% pa. The "poor" guy!!
Posted by: Anonymous at September 21, 2006 7:12 AM
The listing agents for this home need to chill out instead of guarding the property like a junkyard dog. If this home does sell for the alleged $75MM then the commission at the full 6% would be outstanding (and astounding). [Removed by Editor]
Posted by: Lori at September 21, 2006 10:04 AM
The web site does not show any photos of the kitchen or the bathrooms.
What are they hiding?
Posted by: Bitter One at September 21, 2006 12:42 PM
Can't wait for the open house!
Posted by: Anonymous at September 21, 2006 1:34 PM
For $75million, this house better come with $65million in cold hard cash.
Posted by: 49Giants at September 21, 2006 3:21 PM
Zillow says 1.8 million. HAHA.
Posted by: The King at September 22, 2006 12:43 PM
I think Zillow only works for the Sunset and Richmond districts, and other monotonous neighborhoods. These one-of-a-kind houses should only be priced by Realtors.
Now why won't they just put a price on it?
Posted by: Anonymous at September 23, 2006 12:18 AM
To properly service a listing it takes more than one full time person.... frequently staff or assistants offer this support to the listing agent... in this case, three professionals with a combined 70 years of SF Real Estate experience and networking are personally managing every aspect of marketing, staging, showing and negotiating for the seller and her advisors. We felt that it was appropriate to provide the very best service that we could imagine.
There is an elevator that accesses all levels.
As for Broadway Street as opposed to Broadway... both the legal description, the tax records and city maps & mapquest call Broadway a street, plus the domain name 2901 Broadway was not available.
The kitchens and baths are original, as are the exquisite period details throughout the house.
No open houses are scheduled.
Realtors are agents for the clients they represent and are legally responsible for acting in the best interest of the client. Of course, it is our job to "guard" our client and her assets to the best of our ability. We mean no disrespect to others and will answer questions or provide information to qualified, interested potential buyers and their representatives.
[Editor’s Note: Thank you Dona! A great response and above and beyond what anyone probably expected. Now about scheduling an open house…]
Posted by: Dona Crowder at September 24, 2006 11:14 AM
Hello my name is Constance Heldman and I am the co lister with Dona Crowder and Peggy Ecomonos. I am copying a recent press release that was approved by the listing team. Feel free to contact any of us if you want further information.
This mysterious estate built in 1927 and is considered one of the most historic homes in San Francisco. Perched high above the city on San Francisco’s prestigious “Gold Coast”, this four story, plus mezzanine, masterpiece is an example of determined neoclassicism. From its prominence on the hill, breathtaking views include the Golden Gate, Alcatraz, Angel Island, the City and beyond.
The Italian Renaissance palace has a colorful San Francisco history which includes the visionary renowned architect Henry C. Smith, the Golden Gate Bridge’s engineer, Joseph Strauss, former President Herbert Hoover, industrialist Milton Ray and San Francisco and Sonoma real estate developer M.L. Mitchell. The current owner is Gladyne Kenderdine Mitchell, the daughter of M.L. and Emma Mitchell who has resided in the home since she was a young girl.
Of exceptional note is the extensive book collection of her mother, Emma Mitchell. Emma was a passionate reader and an avid collector of books. Emma treasured her books more than any other material possession. As a gift to his wife, Mr. Mitchell created a main library (named Emma’s jewel box) within the residence to house his wife’s collection of approximately 30,000 titles. Emma’s prized this room of the home and spent many hours here among her treasured books.
2901 Broadway is now being offered for sale for the first time since its construction circa 1927. The property is co-listed by Constance Heldman R/E Source Realty in Tiburon and Dona Crowder & Peggy Economos of Pacific Union in San Francisco. Phone numbers and email addresses of each agent are listed below:
Constance Heldman - 415-435-1023
R/E Source Realty - Email - firstname.lastname@example.org
Dona Crowder - 415-447-6244
Pacific Union - Email - email@example.com
Peggy Economos - 415-345-3107
Pacific Union - Email - firstname.lastname@example.org
The official website for the property is www.2901broadwaystreet.com which is complete with photographs, floor plans, property description and historical notes.
The property is priceless and as such does not have a list price. The seller is aware of the value of this once in a lifetime property, as will be serious buyers and their advisors. Prospective buyers are encouraged to submit their best offer.
A recent private charitable event benefiting the Boys & Girls Clubs of San Francisco, the Boys & Girls Clubs of the Peninsula, the Boys & Girls Clubs of America and the San Francisco Foundation for the benefit of the San Francisco Cultural Center was held at the mansion prior to the property being offered for sale.
The co-chairs of the event were, Constance Heldman, Dona Crowder, Peggy Economos and Ken Paige. The escorts and special guests for both evenings were the current and previous Youth of the Year from the Boys & Girls Clubs of San Francisco and the Boys & Girls Clubs of the Peninsula. The string quartet that played won the 2006 National Talent Contest for the Boys & Girls Clubs of America and are stationed at Langley Air Force Base in Hampton, Virginia. Special entertainment for the evening included a performance by Viennese soprano Barbara Payha and a twenty four piece orchestra conducted by Maestro Paul Williams. Saturday evening’s event included dancing to the big band sounds of High Society Orchestra.
Posted by: Constance at September 28, 2006 8:21 PM
Is there going to be a garage sale?
I am sure they want to get rid of all the old junk thats been hanging around since 1927
Posted by: Carl at October 13, 2006 3:17 PM
This home is perhaps The Most Fabulous (outside of Danielle Steele's home) in SF.
Is it worth a assumed $75 million?
Yes, to any wealthy right buyer who really wants it and willing to pay for it at the "asking price".
SF real estate has been on the down slope (we all know it's been way overpriced in the last decades). The new built ultra house (bringing in the new modern era for Pacific Heights (in the top 5 for SF priciest), a few doors down from 2901 Broadway, has been sitting on the open market for quite a long while... asking $65 million.
Not sold yet.
This house at 2901 Broadway will surely sell. Probably faster than the $65 million neighbour.
But, more than likely around $50 million.
Even at $50 million this would probably be the most expensive home EVER sold in San Francisco's
real estate history.
A in-city townhome like no other on the West Coast.
Perched in the most ultra city in the west -
Posted by: PL at December 16, 2006 7:57 AM
I have admired this house for 23 years but now that I've gotten a look at it, it's quite a dump!
Posted by: Adrian at May 7, 2007 1:20 PM