March 11, 2008
A Million "Motivated" Reasons To Get That New Album Out The Door
After 330 days on the market at $10,500,000, and a little de-rockstaring, the asking price on 2505 Divisadero has been reduced $1,000,000 (9.5%). And while a year on the market at this price point isn’t too unusual, do keep in mind that it was also on the market for another 475 days at $12,500,000. And the listing now notes, "Motivated!"
On a somewhat related note (the relation being big houses), and as “sleepiguy” noted a few days ago, the list price on 3400 Clay Street has once again been reduced (this time by $700,000 or 10%).
∙ Listing: 2505 Divsisadero (9/7) - $9,500,000 [MLS]
∙ The Monster Comes Roaring Back (2505 Divisadero) [SocketSite]
∙ This Isn't Exactly How Mr. Hammett Used To Roll (2505 Divisadero) [SocketSite]
∙ Rock Star Floor Plan Porn [SocketSite]
∙ Nothing But Numbers (And A Pretty Picture): 3400 Clay Street [SocketSite]
First Published: March 11, 2008 11:11 AM
Comments from "Plugged In" Readers
I saw this yesterday. I really wonder what it will take to sell this property. I translate motivated to mean they will take $9 and consider $8.5. Does the Kirk from Metallica really need these extra millions? Anyone know what the last purch price was on this place? PropertyShark has 1993 @ ~$2.5M but not sure how reliable that is really.
Posted by: eddy at March 11, 2008 12:08 PM
While this is indeed a beautiful landmark SF property, after a combined total of 805 days on the mkt and a $2,000,000 price redux, perhaps it's finally time to re-evaluate the "Adam's Family Foliage Facade"?!?! Just a suggestion...
Posted by: Sparky at March 11, 2008 12:34 PM
There are a lot of issues with this property. I think Kirk needs to be logical about just why this property isn't selling... *hint hint..
Posted by: Sleepiguy at March 11, 2008 2:12 PM
It would be pretty neat to be super-rich. Even better if you were a rock star. Then losing $40k+/month in opportunity cost (at least) for two years wouldn't seem like a big deal.
Posted by: Jimmy (Bitter Renter) at March 11, 2008 2:15 PM
What are the issues with this property, sleepiguy ?
Posted by: Forest Hill at March 11, 2008 8:33 PM
Great home - I'm amazed it hasn't sold. If Kirk would carry back a 5 million second and then forgive the note perhaps we can stike a deal. To bad he's having to compromise the price and willing to take such big hits so loosely. What's going on here.
Posted by: Michael L at March 11, 2008 9:03 PM
This is an example of a prime property not selling because no one wants to deal with it and it's not priced attractively enough for anyone to deal with the MM renovation that is required to bring it to standard. If this place was totally renovated it would probably be worth 9 or $10M.
Pac Heights or not its still an unreinforced brick structure unless I'm missing something.
Posted by: eddy at March 12, 2008 10:32 AM
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