January 25, 2012

A Glimpse Inside "The Glint" And The Story Behind "The Mansion"

170 St. Germain Today (www.SocketSite.com)

While not quite in the same league as the "Party of Eight" house up on Billionaires Row, a plugged-in reader recognizes "The Glint" (Peter Thiel's "hero accelerator in a mansion") to be 170 Saint Germain, in which Thiel's fellows now reside.

170 Saint Germain: Rear

First listed for sale asking $4,500,000 last March, the 6,744 listed square foot home (per its last listing) was withdrawn from the market last asking $3,699,000 in November and then offered for rent at $15,000 per month.

Party Of Five Eight Move To San Francisco’s Billionaires Row [SocketSite]
This San Francisco Mansion Is Where Peter Thiel's Genius Kids Party... [businessinsider]
170 Saint Germain: Before, After And A Peek Inside (Poke To Follow) [SocketSite]
170 Saint Germain: The Aforementioned Poke [SocketSite]

First Published: January 25, 2012 4:00 PM

Comments from "Plugged In" Readers

Good eye to the plugged in. I have to say that its a bit discouraging to see those kids being wholed up in that place. Accelerator. The Glint. Really? Interesting tid bit about the heated floors leaking. Always a good sign. I'm sure the neighbors are thrilled.

Why didn't they put a patio off the lower level?

Posted by: eddy at January 25, 2012 5:03 PM

Ugh, this place again... I think we're going to need some serious RE porn on Friday for reminding us of this mess. That sad tree in front is just hanging its head in shame at being planted in front of this thing.

I'm sure the owner is relishing sending Thiel the 250k bill when the place ends up totally trashed in a year. Maybe I'm being cynical though.. lol

Posted by: Denis at January 25, 2012 5:48 PM

what a shameless retread bite this is

Posted by: [anon.ed] at January 25, 2012 6:55 PM

Yeah, but you have to admit the "poke" title of the original thread was almost somewhat ironic / prescient given the tie-in to FB / Thiel.

He should have just kept his pad in the Marina for this boondoggle.

Posted by: eddy at January 25, 2012 7:30 PM

How is this a shameless retread bite? This is one of those "beauties from a capitalist's point of view".

The owner bought the previous place for $1.4 million in 2003 and spent a lot of money, we don't know how much, but it was a lot, on a complete rebuild. He or she attempted to sell it shortly after completion for $4.5 million and after a 17.8% price reduction, couldn't find a buyer. He or she was in all likelihood dealing with a deeply negative monthly cash flow for at least the better part of a year.

Now he or she is getting a five figure monthly rent from a tenant who has more money than he knows what to productively do anything with and who thinks that housing a group of twenty somethings with delusions of grandeur is a way to improve the world.

That's how the capitalist system is supposed to work, redirecting capital from those who don't know what to do with it into the pockets of those those who do. Now the owner can take that rent, pay off any loans he or she took out (if any), and use the remaining funds to invest in yet other ventures that improve life for everyone.

Posted by: Brahma (incensed renter) at January 26, 2012 9:45 AM

So wait, how many geniuses live here?

Posted by: EH at January 26, 2012 9:59 AM

there are 5 of us.

Posted by: sparky-b at January 26, 2012 10:02 AM

5 people, or 5 geniuses? both?

Posted by: EH at January 26, 2012 12:50 PM

8 people live here, 5 are geniuses, only 1 (me) is a super genius.

Posted by: sparky-b at January 26, 2012 1:02 PM

One of these guys might invent cold fusion or something, or they may not.
In any case, never underestimate the effects that the encounter of a few smart people might produce. Look at the founders and workers at Paypal have done since selling to eBay. Youtube, Facebook, spaceX, Tesla, etc...

Posted by: lol at January 26, 2012 2:29 PM

Enron also made it a corporate practice to "hire smart people and then set them free to come up with great money-making ideas." That did not turn out so well at the end of the day.

Posted by: A.T. at January 26, 2012 2:49 PM

SF not-really-trying-to-sell-the-house people sure love the "$15,000/mo" figure, don't they?

Posted by: EH at January 26, 2012 4:12 PM

the glint -they are 20 year olds having a party in a mansion and there are no babes.something has gone terribly wrong here.

Posted by: meep at January 26, 2012 6:02 PM

Dear "Geniuses" ,
You can go as wild as you want, but remember you now live in a low key neighborhood, not the hip Mission. Your neighbors of average intelligence - who have to work in the morning - want to sleep at 3am and not hear the funky beats of your iTunes genius playlist and your witty conversations out on the balcony. Take it inside "the mansion" and shut the doors.

Posted by: Shhhhhhhh at January 28, 2012 8:35 AM

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