November 5, 2012
Schwab's 2020 Jackson Street Returns For A Skosh Less Than In 2004
Despite a $2,500,000 price cut to $17,500,000 in April, just prior to serving as San Francisco's 2012 Decorator Showcase home (as it was in 1991 as well), the listing for the 11,500 square foot Hellman Mansion at 2020 Jackson Street [was] withdrawn from the MLS without a reported sale after 381 days on the market.
As plugged-in people know, the Julius Kraft designed property was built in 1902 as a wedding gift for Wells Fargo Bank President Isaias Hellman's daughter and is owned by the Catherine Schwab Revocable Trust which purchased the property for $15,000,000 in 2004.
On Saturday, 2020 Jackson Street was listed anew with an official "one day" on the market and an "original list price" of $14,900,000, a skosh below its sale price in 2004.
The dining room frieze remains intact post-showcase and the kitchen(s) remodeled.
∙ Listing: 2020 Jackson Street (7/7.5) 11,500 sqft - $14,900,000 [2020jacksonst.com]
∙ Designer Remnants Redux: Schwab's Showcase Home Withdrawn [SocketSite]
∙ A Pre-Showcase $2,500,000 Price Cut For 2020 Jackson [SocketSite]
∙ Showcasing 2020 Jackson Street [SocketSite]
∙ The Hellman Mansion Officially Hits The Market Listed For $20 Million [SocketSite]
∙ 2020 Jackson’s Storied Past (And Currently Staging) [SocketSite]
∙ Designer Remnants On Vallejo [SocketSite]
∙ 2012 Decorator Showcase Sneak Peek And Kitchen Before And After [SocketSite]
First Published: November 5, 2012 1:30 PM
Comments from "Plugged In" Readers
1. "It's nice to be the daughter of a financial titan."
2. "What, no harpsichord?"
3. "At some point new money becomes old, but it can still look new..."
4. "Then Mister Miyagi was all, 'Sand the library!'"
ALL MY GRAPES ARE SOUR
Posted by: soccermom at November 5, 2012 3:01 PM
I wish they hadn't removed that beautiful maroon and gold carpeting on the stairs and replaced it with drab gray burlap sack cloth.
Posted by: Ninong at November 5, 2012 9:51 PM
At the Dec Showcase, I heard that the frieze in the dining room was not original, but done when the house changed hands in 1990s. Too bad.
Still one of the great houses.
Posted by: conifer at November 6, 2012 2:38 PM
Thank God they didn't sand the floors down and cover the beautiful woodwork with white paint like they did to the downstairs kitchen!
Posted by: Ninong at November 6, 2012 3:24 PM
no matter how busy one's schedule is, one must properly acknowledge genius:
"4. "Then Mister Miyagi was all, 'Sand the library!'""
Just genius. :-)
Posted by: jack at November 6, 2012 5:04 PM
In the office, they covered every inch of the once-beautiful woodwork with drab gray paint!
Letting an army of "decorators" run wild, each with his or her own "vision," has proved to be a disaster for a classic beauty! Julius Kraft must be turning over in his grave!
Posted by: Ninong at November 6, 2012 6:17 PM
Gray may be the color of the moment, but as mentioned above, it is a crime to use it this way in a true landmark property. What a shame.
Posted by: AstonishedNeighbor at November 6, 2012 6:40 PM
The problem with painting woodwork is that removing the paint is prohibitively expensive, especially in Pacific Heights where all contractors think they have been called to work on Buckingham Palace.
Posted by: conifer at November 6, 2012 6:58 PM
The downstairs kitchen was like a 1996 Home Depot special... The painting woodwork argument doesn't hold when said wood is basically particle board. If this place finds a buyer that kitchen will be totally demoed the day after.
This house is less a victim of the economy than changing lifestyles. There are plenty of people with the money to buy this place, but it's not really livable. The only decent space (the kitchen/family room/patio), is awkwardly disconnected from the main house. Also, it's just not Outer Broadway and the views are pretty meh. It's kind of reeks of white elephant.
Posted by: Denis at November 6, 2012 11:07 PM
Posted by: Eddy at January 12, 2013 11:48 PM
Sold Price: $12,750,000. Seems about right.
Posted by: Eddy at March 13, 2013 9:52 PM