Ever since a plugged-in tipster tipped us off to a rumored under the radar “no reasonable offer refused” auction for 2420 Pacific Avenue two weeks ago, we’ve been keeping an extra close eye on the listing for the 10,650 square foot (per appraisal) Pacific Heights property.
As plugged-in people know, the Julius Ernest Krafft designed home was listed for $12,800,000 last June, reduced to $11,700,000 in September, and then reduced to $9,800,000 in February.
A few minutes ago the list price for 2420 Pacific was reduced to $8,700,000.
Either the aforementioned auction failed to produce a winner and we now have some additional intelligence with respect to the market’s appetite, or we now know the winning bid which will be recorded “at asking” (and rather quickly after being reduced).
∙ Listing: 2420 Pacific Avenue (10/8.5) – $8,700,000 [MLS]
∙ A Julius (Not Julius’) Castle Of A Different Kind [SocketSite]
∙ Room(s) To Negotiate And A Two Million Dollar Reduction [SocketSite]