July 31, 2009
2510 Jackson: Foreclosure Sale Tops The Market In Pacific Heights
As an observant reader noted earlier this week, the sale of the rather infamous (mostly for being foreclosed upon) 2510 Jackson has closed escrow.
While our reader reports an $11.5 million sale price, however, according to a plugged-in source it wasn’t quite but rather close (it's actually an asterisked "confidential" sales price that's reported on the MLS). Regardless, it represents the highest priced San Francisco sale in 2009.
Tax records would suggest an original purchase price of around $9,500,000 in the year 2000 before its sale back to the bank in April of 2008 (asking $14,900,000 soon thereafter).
Also according to our source, it’s a local family that purchased the house.
∙ Fortunes Can Be Fleeting (And Mansions Can Be Foreclosed Upon) [SocketSite]
First Published: July 31, 2009 9:30 AM
Comments from "Plugged In" Readers
What would be the property tax on something like this ?
I am guessing it would be more than the salary of 3 waiters /waitresses combined ?
Posted by: Chad at July 31, 2009 9:41 AM
Chad, you don't have to guess...it's 1.163% of the purchase price - at 11.5 mill that's $133,000 per year.
Posted by: curmudgeon at July 31, 2009 9:48 AM
I wonder what local family picked up this sweet place?
Posted by: MarinaBoy at July 31, 2009 9:58 AM
@curmudgeon
Thanks for the math. That's a LOT of money. In some parts of the country, you can buy a house cash down outright with that Ppty tax !
Posted by: Chad at July 31, 2009 10:40 AM
I wonder if you could Mills Act a Pac Heights mansion.
Posted by: steve at July 31, 2009 11:08 AM
i tried to write a story about this place months ago. the realtor was very suspicious and protective of her client(s).
Posted by: lefty at July 31, 2009 11:43 AM
The seller was BoA (via Robbie). A mystery prospective buyer had been circling for a very long time.
One wonders if Hayden might have gotten the place back...
Posted by: joshua at August 1, 2009 9:43 AM
I think the easiest way to find out the final price would be go on to SF assessor site in the fall and see how much the real estate tax is. Then work your way backwards. Not sure why buyers want to keep purchasing price confidential. It's public record. People will find out sooner or later.
Posted by: jaja at August 1, 2009 4:48 PM
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