September 30, 2009

Kirk Hammett’s Pacific Heights Monster Is Back (2505 Divisadero)

2505 Divisadero

As we wrote in October of 2008:

After an effective 1000+ days on the market, a few reductions [originally asking $12,500,000], and a remodeling, the listing for Kirk Hammett’s Pacific Heights mansion at 2505 Divisadero has been withdrawn from the market.

As we added in December:

Last listed for sale at $9,500,000 before being withdrawn, Kirk Hammett’s recently remodeled mansion atop Pacific Heights (2505 Divisadero) is now being offered for rent at $14,000 a month. Yes, that’s only $1,550 per bedroom (there are nine). [Editor's Note: Hmm...]

It never rented (in fact within an hour of our publishing the Craigslist post for 2505 Divisadero was quickly "deleted by its author"). And now as plugged-in readers and tipsters alike noted late last night (cheers), 2505 Divisadero is once again coming soon.

A new agent and a new new new asking price: $8,995,000. Floor plans via the old listing for those who just can't wait.

The Monster Meets A Magnetic Death? (2505 Divisadero Withdrawn) [SocketSite]
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]
Rent Kirk Hammett’s Mansion For $1,555 A Month (Split Nine Ways) [SocketSite]

First Published: September 30, 2009 8:45 AM

Comments from "Plugged In" Readers

So seriously, after 475 days on the market at $12.5M (Dec 2005 to Mar 2007), then another 540+ days on market at what looks to be $10.5M and some slightly lower price a year in (Apr 2007 list, Mar 2008 price change, Oct 2008 de-list), do you think this will be The Unforgiven III? Did they really think that the prior DOM would just Fade to Black? You'd think the owner would know by now that Nothing Else Matters besides a good price. I mean, the agent must be drinking Whiskey in the Jar, right?

Posted by: corntrollio at September 30, 2009 9:11 AM

I suppose it's time to Jump In The Fire again. I agree with corntrollio that as to the old DOM, Memory Remains. If the new agent can get 9 mil for it, they'll be the Hero Of The Day, but I imagine it'll be like Pulling Teeth. As they say, it only takes One buyer. Sad But True.

Good luck, Kirk. Hopefully this sale is not The Thing That Should Not Be.

P.S. I liked the old color scheme, but I'm a bit odd.

Posted by: justme at September 30, 2009 9:58 AM

This place has no real views, so you don't need to Sleep with One Eye Open...er, Enter Sandman

Posted by: gh at September 30, 2009 10:06 AM

Why is Kirk trying to sell this or rent it for soooo long ? I mean seriously, does he need any of this measly 10 million and change ?

If I were him (as rich as as famous), I would just build a state of the art recording studio inside (if it's not already there) and open it up to all young and upcoming guitarists with no resources, so that the next brilliant guitarist can finally "arrive" !

Posted by: Chad at September 30, 2009 10:12 AM

the One Thing That Should Not Be overlooked is the lack of view. beauty is in the Eye of the Beholder, but this place is a Fixxer. i'd say it's The End Of The Line for kirk as trying to Escape this place is like The Day That Never Comes. sorry for the Holier Than Thou Attitude.

Posted by: eddy at September 30, 2009 2:11 PM

looks like pac hts property values could be back to pre 1999 levels

although maybe not if 2849 Pacific sells for anything close to what they are asking but that seems highly unlikely

Posted by: ruby at September 30, 2009 3:51 PM

Pac Heights is a big mess right now.. WAAAAY too much inventory and the sellers just aren't coming down on their prices especially on the mega homes in the area.

Also, saying we're at 1999 pricing isn't really accurate.. 99-01 saw some really big sales before things went back down again in 02 and 03... It didn't start to get ridiculous again until 06 and 07 when dumpy Victorians on N/S streets started fetching 4.5 million. Those are down about 25-30%.

I just noticed that 3570 Washington is back! That just sold this past spring! What happened there?

[Editor's Note: If You Missed It When It Sold Five Months Ago... (and cheers).]

Posted by: sleepiguy at September 30, 2009 4:46 PM

I said "pre" 1999 pricing - in other words, before the stock market bubble cracked and before the credit bubble cracked - those two things cracking have possibly caused property pricing to revert to levels seen PRIOR to the formation of these two bubbles

Posted by: ruby at September 30, 2009 6:30 PM

I liked the interior before the redecorating. Speaking of homes without views... I prefer 2500 Divis over this.

Posted by: StockBoySF at September 30, 2009 8:36 PM

Arthur McLaughlin's staging vans were out front and unloading yesterday.

Posted by: Michael at October 6, 2009 10:53 AM

If 2830 Pacific can't command $9.9 and the home across the street couldn't get $10 -- I'd say trying to get $9 here is going to be tough. Should be a good barometer when it sells. I'll go with $7.3 as a final selling price.

Posted by: eddy at October 6, 2009 11:56 AM

Well, now the seller has a good agent, who I think is realistic about the state of the high-end market. If she can't manage the egos involved in this type of transaction, then no one can. I think it'll sell as well, but not at asking. I went to an open house here years ago, and it's not in terrible shape. There are some nice, open rooms and a decent floor plan, but it's a difficult property for various reasons. Is it a UMB? What's the foundation like? It's also too big. You see the house on broadway at steiner fly into contract while asking 9 (views not withstanding) and it's literally 1/2 the size of this place. There's an entire subterranean floor floor of weird, useless rooms: a full bar, a "recording studio" etc, etc... I think high-end buyers aren't thinking bigger is better at this point. A modest 5000 sq ft house is much more appealing - lol.

Posted by: sleepiguy at October 6, 2009 12:59 PM

DOM = 1

Posted by: eddy at October 9, 2009 4:22 PM

Pics up at Nina's site.... finally a staging befitting the house!

Posted by: DZInerSF at October 12, 2009 8:37 AM

It's in contract... Will it close? As I already said, having a top agent was key in getting this place in escrow. Nina especially seems to be doing very well on the high-end. Noticed she represented the buyer of 3855 Washington too. Not bad!

Posted by: sleepiguy at December 1, 2009 4:21 PM

So it took Nina to Load this onto MLS and to show why it is Better Than You think? A new agent often does Turn The Page on stale listings and Fuel new potential buyers to look at the place. Hopefully she will show Kirk For Whom the Bell Tolls, and she won't have to ReLoad it onto MLS. If someone had bought this at the original price of $12.5M, we might have had to say Welcome Home (Sanitarium).

Posted by: corntrollio at December 1, 2009 5:55 PM

After "an effect 1000+ days on market" 3 agents and 4 stagers... Nina and Arthur get a solid contract in a mere 6 weeks! that's what happens when you get two of the best in the biz working with a seller who actually listens to them!

Posted by: DZInerSF at December 3, 2009 3:45 PM

Saw the Arthur McLaughlin trucks already moving the staging out. That would be like, what, a 7 day close? Seems to indicate "no haggle" and a cash sale.... but was it over asking?

Posted by: anon at December 9, 2009 4:06 PM

Isn't it pending? Now hopefully it can from being a "monstrous" white elephant back to just being a house. Good job all around on this one.

Posted by: sleepiguy at December 9, 2009 5:58 PM

Note to new buyer. Its time to shave the beard off the front of the house. That Ivy is on its last leg and sucks the life out of any chance of curb appeal.

Posted by: nsc 68 at December 9, 2009 9:14 PM

Not sure if there is a more up to date SS posting, but the current issue of "The Fillmore" has a note that 2505 sold substantially below its asking. Interesting. Must find out.

Posted by: eddy at January 3, 2010 8:00 PM

It's baaaaack....

Posted by: Denis at March 2, 2012 11:13 AM

Thought it would be listed for higher. Looking forward to see what they did with the place.

Posted by: eddy at March 2, 2012 11:35 AM

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