December 22, 2009

Landmark Bourn Mansion (2550 Webster) Bankruptcy Sale Approved

2550 Webster (www.SocketSite.com)

As we reported with respect to the landmark Bourn Mansion (2550 Webster) via a plugged-in tipster a week ago:

...[they] had to find a trustee for Chapter 11 so all previous bids were thrown out. Now the trustee has ratified an offer and an overbid schedule has been made, so now the overbid and sale approval will take place on December 22. Overbidders must have offers in by no later than December 17, 2009 at 4:00 pm and the first minimum overbid has to be $2,550,000 (the list price is $2,900,000).

As a plugged-in source reports today:

The sale of the house was approved this morning. The motion to dismiss was denied.

UPDATE: The approved sale price: $2,790,000.

The Bourn Foreclosure Bankruptcy And Bidding Scoop [SocketSite]
The "Plugged-In(side) Scoop" And Candid Peek Inside: 2550 Webster [SocketSite]
Landmark Bourn Mansion (2550 Webster) Listed And Your Peek Inside [SocketSite]
Bourn To Run Party: A San Francisco Mansion Of Ex-Glory And Dreams [SocketSite]
The Bourn Foreclosure (2550 Webster) [SocketSite]

First Published: December 22, 2009 1:00 PM

Comments from "Plugged In" Readers

So that's it. It's done? Any more scoop on the buyer?

Posted by: eddy at December 22, 2009 1:04 PM

What was the approved sale price? Were there overbids?

Posted by: formerly%whatever at December 22, 2009 1:05 PM

That is wonderful! I hope the new owner brings the home back to its former glory.

Does that mean that Ms. Van Upp is gone, or is that horrid woman still haunting the place as a squatter?

Posted by: anon at December 22, 2009 1:07 PM

I want to buff out all that roughness on the brick facade.

Personally, I'd tear the mother down and turn it into paving.

Preservation of classics is great, but reflexive preservation of brick outhouses like this denies the neighborhood of better architecture and the future cool designs from *this* age.

Posted by: Troy at December 22, 2009 2:35 PM

To answer my question, the final bidding was in 15k increments and the last bid was 2,790,000.

Posted by: formerly%whatever at December 22, 2009 2:41 PM

Gotta give credit to the listing realtor for nailing the price so closely on what could have ended up just about anywhere.

Posted by: tipster at December 22, 2009 2:55 PM

I think the realtor did a nice job handling what was probably one of the most difficult SFH sales in San Francisco this year. I would imagine Arden Van Upp does not make anything easy.

Posted by: nsc68 at December 22, 2009 3:14 PM

@ Troy
You are nuts! This is an epic home unparalleled in SF and probably CA. You will literally not find anything like this in SF.
History alone makes it worthwhile

Posted by: Joe at December 22, 2009 3:16 PM

Good luck to the new owner in many ways.

Posted by: PPC at December 22, 2009 5:47 PM

I'm looking forward to watching this property evolve. I hope it goes quickly.

Posted by: eddy at December 22, 2009 8:41 PM

No wonder she had to steal the Christmas wreath. Now it all makes perfect sense :-)

Moreover, given the absurd level of crime now being captured on camera in Pac Heights, I think we all agree that it's time to remove this dangerous enclave from the "Real SF". As a result, this comp should be stricken from the record.

Posted by: A flock of seagulls at December 22, 2009 10:28 PM

So, what are the over/under bets on how much the renovation is going to run?

Posted by: justme at December 22, 2009 10:51 PM

you gotta read this story, it's almost hilarious!:

[Removed by Editor]

[Editor's Note: The SF Weekly story which is referenced above is featured (and discussed) in the following piece: Bourn To Run Party: A San Francisco Mansion Of Ex-Glory And Dreams.]

Posted by: bmwcafe at December 23, 2009 7:36 AM

If you want to check out another foreclosed mansion, check out this 12,000 sqft 6/6.5 monstrosity on 8.57 acres in Portola Valley called "the Knole at Lauriston":

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/12/23/RES11B7S6P.DTL

Bank is selling for $7.895M, but the realtor claims it's worth $11.832M apparently:

http://www.redfin.com/CA/Portola-Valley/5070-Alpine-Rd-94028/home/900932

It's been listed off and on since 2005, but the latest listing has been live for 6 months. Not quite clear on when the bank took over -- maybe late 2007/early 2008?

Posted by: Anon E. Mouse at December 23, 2009 11:20 AM

Anon E. Mouse, that foreclosed mansion story is an interesting one, thanks for the link. Why the previous owner remodelled this rather handsome looking french country/chateau structure to look like a 1990s suburban tract home is beyond me. They don't have interior designers in Portola Valley?

Posted by: nsc68 at December 23, 2009 11:46 AM

So that's it. It's done? Any more scoop on the buyer?

protected tenant, amirite? ;)

Preservation of classics is great, but reflexive preservation

one wonders if you think anything is worth preserving. does "reflexive preservation" including "having a reason at all?" i mean, the psychologists and philosophers have been telling us for quite a while now that all thought is reflexive, so maybe you have some secret technique for sui generis conceptualization. do tell.

Posted by: EH at December 23, 2009 12:59 PM

The MLS now reflects the $2,790,000 sale price (and a 1/21/10 closing) we reported last month.

Posted by: SocketSite at January 21, 2010 11:33 AM

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