December 19, 2011

Cow Hollow Infill And Ongoing Intrigue On Green

2151-2157 Green Street: 12/19/11 (www.SocketSite.com)

In 2007 the 6,800 square foot Cow Hollow home at 2151 Green Street sold for $9,000,000 which included the undeveloped lot at 2157 Green Street next door.

Following a lot split, a remodeled 2151 Green Street returned to the market in 2008 listed for $10,950,000 while the undeveloped lot at 2157 Green was listed for $24,000,000 including the construction of an approved 13,500 square foot home.

As plugged-in people know, 2151 Green Street ended up selling for $3,066,001 on the courthouse steps while the lot plus plans for 2157 Green sold for $3,700,000, purchased by the same buyer as 2151 Green Street for a total purchase price of $6,766,001 for the two District 7 pieces that sold together for $9,000,000 in 2007.

A full scale remodeling of 2151 Green Street has since commenced which will include an all new interior, roof deck and au pair suite. And yes, the permit to build a new five story home on the lot at 2157 Green Street has been re-approved and the lot has been cleared for construction.

In terms of the designs for 2157 Green Street, we’re happy to note all facades and floor plans have been revised per the permits, but we’re still looking for a rendering. Tipsters?

Sold Together For $9M in '07, Purchased Apart For $6,766,001 In '09 [SocketSite]
Reader Versus Realtor: Did 2151 Green Street Just Sell At Auction? [SocketSite]
But Hey, $550,000 Is Simply A Rounding Error To A Proper Industrialist [SocketSite]
Another District Seven Mansion Heads For Foreclosure (2151 Green) [SocketSite]
The Scoop On 2157 Green Street (Could You See The Foreshadowing?) [SocketSite]

First Published: December 19, 2011 11:00 AM

Comments from "Plugged In" Readers

Those initial price expectations are comical. Boy, the original developer was smoking some serious crack!

Posted by: 47yo hipster at December 19, 2011 11:09 AM

What a waste. A 2007/2008 remodel is going to the landfill, a place has been sitting empty for a couple of years in a very desirable neighborhood. I hate to see this happen. A lot of valuable resources are wasted there. Then again, many of these manses are sitting empty most of the time apart from gardeners/contractors/cleaners.

Posted by: lol at December 19, 2011 11:21 AM

I don't know if people remember the big house on Everson that was empty for years, remodel finally finished and it sold earlier in the year for several million. Happened to be up there a couple of weeks ago and the place was being torn up yet again for new finishes. Yikes!

Posted by: bernalkid at December 19, 2011 1:18 PM

Who are these multitude of people that can afford multi/multi million $ homes. And entire city of super rich and extravagantly lavish lifestyles.

This blows my mind considering they say the rest of the country is in the throws of an economic depression. I just don't understand SF.

Posted by: Cade at December 19, 2011 1:40 PM

The previous "remodel" was so poorly done (not to mention ridiculous) that it had no choice but to be scrapped. As I mentioned back in 2008, there was a new kitchen, but a bunch of expensive looking tile laid over old tile in the bathrooms, and a looney sauna installed in the lower apartment. No updates were done to the wiring, heating, or insulation. All the walls were still lath and plater.

Anyway, call me cynical, but I don't think anything good is going to come of this. The stairs leading to 2151 are absolutely insane. I said before that this house would never sell... Even updated, I don't see much hope. Buyers rarely want SFRs they'll have to access using an elevator. Look at 2811 Vallejo. It's a much nicer block than this, but it's been reduced over $700k and still no buyer. 2659 Green isn't moving either. Likewise, 2157 is inevitably going to face a similar issue and the engineering costs to build on what could be partial fill is just astronomical. I can see this going back to the bank before the project is completed.

Posted by: Denis at December 19, 2011 2:22 PM

Denis, the lot build includes a big dig with most of that hill going. Access will be much better than the other house.

Bernalkid,
Same developer as Emerson.

Posted by: Sparky-b at December 19, 2011 2:32 PM

Should be interesting to say the least. Two words: Residential Escalator. :)

Anyone know who the architect is on this property. Can't make out the sign from the SS Pic.

Seems that gutting the brick shell is the obvious solution here and adding a roof deck will make the new property have a better roof to look at.

Hope they build something interesting there. although I sort of liked the old rendering.

[Editor’s Note: It’s another Nova Designs + Buildsproject.]

Posted by: eddy at December 19, 2011 3:55 PM

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