October 9, 2008

The SocketSite Scoop On 2799 Broadway (A.K.A. 37 Raycliff Terrace)

2799 Broadway (www.SocketSite.com)

While the basic gist of the tale we were told a while back about the recent sale of 2799 Broadway (see third paragraph below) was accurate (big house sells for big money and Bebo founders buy it), a bit of refinement is in order.

While Malin Giddings represented those who sold, and might have presented an offer, it turns out it was actually Sotheby’s uberagent Deborah Svoboda who brought the buyers, offer and bills to the door. And while the property really wasn’t on the market (not even "unofficially"), no door bells were rung unexpectedly (you can all stop looking out your windows with your fingers crossed now), and it was more of an “offer you can’t refuse.”

2799 Broadway (www.SocketSite.com)

Another little tidbit, although not yet reflected online, the address has officially been changed from 37 Raycliff Terrace to 2799 Broadway (think resale for those who care).

The SocketSite Scoop On 37 Raycliff Terrace (A.K.A. 2799 Broadway) [SocketSite]

First Published: October 9, 2008 10:00 AM

Comments from "Plugged In" Readers

I previously wondered aloud why this highly confidential comp would be disclosed -- and then it occurred to me why.

Posted by: eddy at October 9, 2008 11:03 AM

This place looks like a bank.

Posted by: midcentfan at October 9, 2008 12:31 PM

^ only difference is there's more money inside...

Posted by: nonanon at October 9, 2008 12:35 PM

anyone know typical commission on these hyper expensive properties? wouldn't sellers negotiate down to like 2% or something? maybe a sliding scale (downward) as prices go up?

Posted by: Fundy Mental at October 9, 2008 12:55 PM

I wish we could see the interior. Hook it up, Debbie.

Posted by: steak knife at October 9, 2008 1:39 PM


I'm a commercial broker, so I'm not entirely sure how residential commissions are negotiated for deals that size. But for us, large deals are typically either a point or two, or just a flat fee regardless of price (think: $200k to the sell side for a $30M deal).

Posted by: SFer at October 9, 2008 2:11 PM

eddy. share. what is the upside to leaking this info for those involved? (unless its a nosy neighbor)

Posted by: anon at October 9, 2008 3:24 PM

If you're a realtor dealing in high end D7 properties this isn't exactly a comp you want shoved under the table. So I'd venture to guess that this leaked transaction was leaked directly by one of the realtors.

Posted by: eddy at October 10, 2008 9:56 AM

29 million for a house, and then you put up new address numbers from Home Depot on your facade?

Posted by: anonarch at October 11, 2008 5:10 AM

The numbers are hideous. But just by looking at this guy, and with the interactions I've had with techies all over the bay area, the old saying goes, you can't buy yourself class.

Posted by: sf at October 11, 2008 10:18 AM

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