October 29, 2008
The Monster Meets A Magnetic Death? (2505 Divisadero Withdrawn)
After an effective 1000+ days on the market, a few reductions, and a remodeling, the listing for Kirk Hammett’s Pacific Heights mansion at 2505 Divisadero has been withdrawn from the market. Luckily Death Magnetic is meeting with no such sales challenge.
∙ Some Kind Of Monster In This Kind Of Market (2505 Divisadero) [SocketSite]
∙ The Monster Comes Roaring Back (2505 Divisadero) [SocketSite]
∙ This Isn't Exactly How Mr. Hammett Used To Roll (2505 Divisadero) [SocketSite]
First Published: October 29, 2008 12:00 AM
Comments from "Plugged In" Readers
This is one of those houses that is not having trouble due to the market... Why didn't kirk price the property accordingly...
Posted by: Nicole at October 29, 2008 7:09 AM
Posted by: Animo at October 29, 2008 7:14 AM
The only things that seem to be selling at the high end in PH are those that get 20+% price cuts from their pre- October prices.
It's a whole new world.
Posted by: tipster at October 29, 2008 7:15 AM
The best part about this house is the view FROM the street. It has no views to speak of. I was not impressed.
Posted by: gh at October 29, 2008 7:32 AM
The best part of this house is the lower level. Recording room etc. I saw it when it first came on the market and I have no idea if they took it out when they remodeled but as a fan... it was super cool.
Posted by: Katy Dinner at October 29, 2008 8:03 AM
That downstairs was sooo sweet. You could feel the insane parties that must have gone on down there. There were nails on the hallway walls from all the gold, silver, platinum, etc albums that used to hang there. The recording studio still had drums (Lars in da house!), and a couple guitars lying around the first time I saw it.
Kirk didn't price it. Mark did.
Posted by: alex at October 29, 2008 9:55 AM
This is the same agent that had to withdraw 300 Sea Cliff earlier this year (or was that last year?).
Anyway, this house was just never going to sell and really isn't the best barometer for the district 7 market - which, as you might expect, is doing horribly. It looks like it's taking 2003 pricing to sell anything. Look at 2686 Green - yes, it's a fixer (and I haven't seen it, so maybe it's truly horrible), but it has been reduced to 3.2 million! That's shockingly low for ultra-prime, north-side Green St. Last year 3.5 mil would get you California St.
Another interesting example is going to be the return of 25 or 27 Raycliff (not sure what's going on with the address). Malin's bringing it back at 4.25 after asking 4 for it in late 03. It may have originally sold under asking, but the point is the initial pricing is basically the same as fall 03.
[Editor’s Note: Another Address Change And Listing On Raycliff Terrace: Number 27.]
Posted by: Sleepiguy at October 29, 2008 10:08 AM