November 6, 2009

The Captain’s House Goes For To A Cruise?

300 Sea Cliff (www.SocketSite.com)

It appears an apology is in order. Last month a plugged-in reader reported that 300 Sea Cliff had sold for $16,363,569 on 9/10/2009 to which we replied:

Sorry, but we don’t think that was a sale but rather a Recorder’s Office annual adjustment of 2% on the previous tax assessed value of $16,089,041.

We were wrong. The 9/10/09 sale of 300 Sea Cliff Avenue was recorded on 9/15/09 with a sale price of $18,000,000. As an even more plugged-in reader notes, the sale price included "commissions, transfer tax and some deferred maintenance credits."

And perhaps this other reader is pulling our leg, but if not the buyer was...Tom Cruise (we haven't been able to confirm).

Purchased by the seller who never lived in the property for $13,100,000 in March 2000, a remodeled 300 Sea Cliff returned to the market asking $23,500,000 in 2003. Unable to attract a buyer, the house underwent a major $8,000,000 renovation and raised its asking price to $25,900,000. The list price was subsequently reduced to $22,000,000. And then it sold. Again, for $18,000,000 and perhaps the Captain’s House went for to a Cruise.

UPDATE: Another reader quickly notes the mailing address for the purchasing LLC ("Tawaraya") is that of "a high-end accounting firm in Walnut Creek" which happens to advise Larry Ellison (amongst others). And The Real Estalker adds, "Tawaraya is a super posh and searingly expensive, 300-year old ryokan–which is essentially a Japanese bed and breakfast sort of place–located in Kyoto" which is rather Ellison-esque.

Is The Captain’s House (300 Sea Cliff) Preparing For Another Voyage? [SocketSite]
Checking In On 300 Sea Cliff Ave [SocketSite]
The $8,000,000 Man Renovation [SocketSite]
300 Sea Cliff: $3,900,000 Reduction (After An $8,000,000 Renovation) [SocketSite]
Another Chance At (For?) The Captain's House (300 Sea Cliff Ave) [SocketSite]
Rumor Has It, But... [Real Estalker]

First Published: November 6, 2009 7:00 AM

Comments from "Plugged In" Readers

Maybe they'll relocate the Scientology center out to Sea Cliff now.

Posted by: pica1986 at November 6, 2009 7:09 AM

The mailing address for the LLC is for a high-end accounting firm in Walnut Creek. I doubt Tom uses them; his group is probably based in the LA area. They are, however, the personal financial advisors to Larry Ellison, amongst others.

Posted by: auden at November 6, 2009 7:46 AM

If true, it's a satisfying ending to the Captain's House saga.

Posted by: kthnxybe at November 6, 2009 8:36 AM

A satisfying, $4,000,000.00 loss, plus another satisfying $4,500,000.00 in holding costs.

Posted by: tipster at November 6, 2009 9:09 AM

Maybe it's the Tom Cruise that owns that scooter company?

Posted by: AlamoSquareDweller at November 6, 2009 10:01 AM

Hope there are enough closets in this home.

Posted by: Eric in SF at November 6, 2009 11:28 AM

@ Eric in SF - best post ever! LMAO!

Posted by: movingback at November 6, 2009 11:57 AM

I do remember looking at that house when it was first featured and thinking that the Theon levels were one of the best features of the place.

Posted by: The Drizzler at November 6, 2009 12:40 PM

I have a friend who works for "Plath" and they worked on this house. He told me that they were present when they did the inspection and that yes Tom Cruise is the buyer of this house. But of course Tom Cruise real name is Thomas Cruise Mapother IV.

He's the buyer, You heard it from me!

Posted by: George at November 6, 2009 2:08 PM

Somebody should look up Jeanne Yang. That's the link to Cruise.

Posted by: The Real Tipster at November 6, 2009 2:20 PM

Well maybe things haven't Bottomed in West Hollywood, and Homes with views like that are hard to find in the Castro and also it would be a bit obvious, I'm just saying ...

Posted by: SanFranciscoBuyer at November 6, 2009 2:36 PM

The Last Samurai starring Tom Cruise, which was filmed in Kyoto, is the home of THE TAWARAYA OF KYOTO. Just sayin'...

Posted by: EBGuy at November 6, 2009 2:37 PM

EBGuy, I like the creativity, but thats a stretch. If we were basing who we thought the property owner was based on current records- I pick Larry over Tom any day. Larry has a great fondness for all things Japanese and Tawaraya is a she-she ancient hotel in Kyoto, as you have previously pointed out. His house in Woodside is a little Japanese village compound for goodness sakes. And his the mailing address for the property is his accounting firm.

Posted by: auden at November 6, 2009 3:36 PM

We stayed 5 nights at the Tawaraya this summer. It's a great place although the food is a little pricy and the rooms smell like miso soup.

Posted by: HappyRenter at November 6, 2009 3:39 PM

I'd be shocked, nay, STUNNED if Larry Ellison has bought this house. It could not be further from his taste, and he already owns that ultra modern house across from Nicola Miner's on Broadway (Mapjack is down at the moment, but if you put "2850 Broadway" into Google Maps and turn to the right on Streetview, that's the house) that he only really uses for parties.

Now, he has, on occasion, been rumored to purchase properties for other people to whom he is, er, close, but those have typically been condos convenient to the office, not Seacliff SFRs.

I can't say it *isn't* him, but again, I'd be stunned.

[Editor's Note: With respect to 2850 Broadway (from back in 2006): Friday Fun: Name This House. And with respect to being stunned, so would we.]

Posted by: Oracle Desk Jockey at November 6, 2009 4:18 PM

His house in Woodside is a little Japanese village compound for goodness sakes.

This is actually why I went the contrary route; the compound always seemed like some kind of culmination of... well Larry, and I couldn't imagine them abandoning it. Then I skimmed the old Chronicle profile of his wife:

The study also has French doors that look out onto the gardens, at the edge of which Ellison has planted a row of bamboo to hide her British garden from view at the main house, where everything is all Japanese, all the time. That is OK with Craft, who is content to have her refuge, even if it's blocked from sight...

It is not only hard to imagine her living here, it is hard to imagine anyone living here. The compound is mind-boggling. I ask her if this all seems normal. "I don't think it will ever be normal,'' she replies... They also have a home in Pacific Heights, but are rarely there.

... Hmmm... maybe Miss Craft wants to reconnect with the Ess Eff social scene?

Posted by: EBGuy at November 6, 2009 4:20 PM

auden wrote:

> The mailing address for the LLC is for
> a high-end accounting firm in Walnut
> Creek. I doubt Tom uses them; his group
> is probably based in the LA area. They
> are, however, the personal financial
> advisors to Larry Ellison, amongst others.

The firm that gets the tax bills for all of Larry Ellison's real estate also gets the tax bills for Steve Job's property. Has anyone heard if Steve was talking about moving to SF?

Does anyone know of a title company online database that will let you enter search an address and get a list of all the tax bills sent to that address?

I know how to get a hard copy of the LLC documents from the Sec. of State to see who signed them, but I'm wondering if any of this data has been moved on line.

Posted by: FormerAptBroker at November 6, 2009 5:17 PM

enjoy the fog

Posted by: kjhjkj at November 6, 2009 5:40 PM

I know how to get a hard copy of the LLC documents from the Sec. of State to see who signed them, but I'm wondering if any of this data has been moved on line.
Here's the trick, all of Larry's LLCs (that we know about) are registered in the state of California. PHILIP B SIMON is the Agent for Service of Process -- he's the one who famously warned Larry about his budget busting ways. According to SL123's post on the previous thread Tawaraya, LLC, is a Delaware limited liability company. You need to pony up $10 for a Delaware LLC search (unlike CA's basic search, which is free).

Posted by: EBGuy at November 6, 2009 5:46 PM

Larry Ellison overspent on his lifestyle. The Woodside compound is for sale, or at least it was. He also has, or had, houses in Atherton and on Market Street. It could be him, but it doesn't seem like a good match.

Both Larry Ellison and Steve Jobs are architecture snobs with refined tastes, so a structure like this in its current state might not be something either of them would want. Time will tell.

Posted by: Mole Man at November 6, 2009 6:06 PM

I know, it could definitely be anyone's property who has a predilection for obscure Japanese references and Howson & Simon as their accountant. That's why I didn't claim it as Larry's in my original post. But the Tawarya reference plus the accountant lends more toward him than Tom.

I don't know whose it is. Personally, I would prefer Cruise as a neighbor.

The Woodside compound has never been for sale. His imbetween house in Atherton was the one for sale for quite some time.

Posted by: auden at November 6, 2009 7:19 PM

This is all a publicity stunt -for the buyer of this place to attract attention and justify his/her purchase.

Posted by: khkhkjhk at November 6, 2009 9:40 PM

Who was the listing agent?

Posted by: sf1 at November 7, 2009 12:00 AM

If Tom Cruise is the buyer, the neighbors should be warned about inviting him over. They should make him sit in a chair, not on the sofa. You know what he did to Oprah's.

Posted by: RSVP at November 7, 2009 9:53 AM

For those of you who somehow missed Mr. Cruise's performance on Oprah, here it is.

http://www.youtube.com/watch?v=EcgIxfNim7o&feature=player_embedded

On a second thought, don't let him in your house. Not only will your furniture be better off but so will your personal safety. You have been warned.

Posted by: RSVP at November 7, 2009 10:30 AM

Oh, well. There go my chances for that tub.

Drat. That's one hell of a tub.

Posted by: justme at November 7, 2009 11:01 AM

"Both Larry Ellison and Steve Jobs are architecture snobs with refined tastes, so a structure like this in its current state might not be something either of them would want. Time will tell."

Um, have you actually seen where Steve Jobs lives today?

Posted by: Usually Named at November 7, 2009 1:52 PM

Video of Ellison Compound, linked from designer Paul Discoe's site (Joinerystructures.com) who did the Ellison structures along with landscape architect Ron Herman. Both sites also have pictures.

http://www.joinerystructures.com/video/MHRDSL.mov

The last I read about Larry Ellison's real estate dealings, he was still collecting land parcels down in Malibu.

Posted by: Morgan at November 7, 2009 8:12 PM

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