2901 Broadway: Aerial
First listed for sale for $55,000,000 in 2007 having served as the 2007 Decorator Showcase Home, the seller of 2901 Broadway received a rumored four offers that year, all of which were countered at asking and all of which walked away.
Having been on the market since and reduced a number of times, most recently to $34,000,000 four months ago, the Gold Coast mansion is in escrow and slated to be sold by the end of the year according to a couple of plugged-in sources who also say the buyer is local, the identity of whom we can’t yet confirm.
If 2901 Broadway sells for within 3 percent of its current list price, it will become the most expensive home ever sold in San Francisco, relegating 2840 Broadway to the penultimate position at $33,000,000.
As plugged-in people know, 2845 Broadway which was listed for $38,500,000 and had a shot at the title ended up selling for $20,000,000 last month, unless a major miscalculation or other tomfoolery by San Francisco’s Assessor Recorder’s office is in play.
And yes, the city will be a big beneficiary of the sale of 2901 Broadway as the property tax bill for the Gold Coast mansion totaled $7,790 last year. The transfer tax alone on this sale should be over half a million dollars and the tax bill should be over $200,000 a year.
Go Ahead And Ask: 2901 Broadway Is Listed (And Priced) [SocketSite]
Your Chance To Slip Inside 2901 Broadway [SocketSite]
Rumor Has It: Four Offers On The 2007 Decorator Showcase Home? [SocketSite]
With A Local Whale Landed, Another Mansion Is Reduced [SocketSite]
The Confidential Sale Price For 2840 Broadway On Billionaire’s Row [SocketSite]
The Massive 2845 Broadway Misses The Mark And Record Books [SocketSite]
Proposition 13 In Practice Along San Francisco’s Gold Coast [SocketSite]

Recent Articles

Comments from “Plugged-In” Readers

  1. Posted by Denis

    I’m going to say no. This house isn’t worth nearly what Dodie’s mansion is/was. My first guess is that it closes for something like 19.5. Maybe concern over the capital gains tax motivated them. However, the sellers seem ridiculously stubborn with their selling price so who knows. I’ve been surprised many times over the past year as pretty much every RE record has fallen.
    Anyway, it truly is the end of an era with these two notorious properties finally finding new owners. Does anyone know what Malin’s “secret” Gold Coast listing is?

  2. Posted by MarinaBoy

    I wonder who the local buyer was?

  3. Posted by observer

    Does anyone know what Malin’s “secret” Gold Coast listing is?
    Funny you should ask – I spent some time yesterday trying to triangulate which house that was based on the photo on Malin’s website and Bing Maps. Based on the trees/landmarks nearby, I think it’s the house to the west of the Getty’s. 2898 Broadway.

  4. Posted by asiagoSF

    if any house ever was the poster-child AGAINST Prop 13, this is it

  5. Posted by Denis

    Well, the reality is many of the homes on Broadway have now tuned over and are paying their share. The new owners have all paid wildly inflated prices and now receiving some pretty hefty tax bills. In a few years, prop 13 will have been pretty much phased out on the Gold Coast. Just in the past year or so, 2808, 2840, 2950, 2901, and 2950 Pacific and 2563 Divis have sold giving the city an additional 1.5 million in taxes just on those 6 properties. That said, the city will lose about 200k in taxes from the sale of Sperling’s ziggurat.
    Also, I’m curious, w/o prop 13 how would the city go about reassessing some of these homes without taking into consideration the actual condition of the house?

  6. Posted by lol

    Also, I’m curious, w/o prop 13 how would the city go about reassessing some of these homes without taking into consideration the actual condition of the house?
    By doing their job! Like sending someone to check out a home for an hour every few years (3? 5?), doing a basic tour and giving it a fair market value for tax purposes. If this is too costly to do, bill the homeowner for it ;) They do that for other inspections already.
    Prop 13′s blind valuation process makes the County very lazy. Record a sale price (pocket the transfer fee in the process), then have the computer do the assessments. There are occasional corrections based on exceptional events (market drop, permitted improvements), but the county can be very sluggish.
    In other news, my 2010 purchased hasn’t been reassessed yet. LOL.

  7. Posted by BobN

    The new owners have all paid wildly inflated prices and now receiving some pretty hefty tax bills.
    Does anyone track abatements?

  8. Posted by Eddy

    Sold: $28,250,000
    This would make (i think) Malins Gold Coast property, which is listed north of $30m, the highest listing on the market in San Francisco

Add a Comment

Your email address will not be published. Required fields are marked *