2712 Broadway (www.SocketSite.com)
It was almost four years ago that we first told you the tale of eight twentysomethings moving to an $8 million rental up on San Francisco’s Billionaires Row, a home that subsequently morphed into an unofficial tech incubator.
As we revealed about the property at 2712 Broadway which was purchased for $7,800,000 in 2009 and quickly landed on Craigslist asking $14,000 a month:

Purchased by a trio of investors who have either built or re-built a fair number of high-end spec homes in San Francisco, the rental route is intended as a “short-term” strategy to help with cash flow as permits and plans to redo the home are negotiated and secured.

The list price for the rental was reduced and then reduced a little bit more.

Last listed on Craigslist for $10,000, it rented for $9,250 after a bit of negotiation to a group of eight twentysomething friends who are now in the process of moving on up to Billionaires Row. But not to worry, two are a couple so everyone will effectively have their own room.

The plans to raze the existing 7,000 square foot house on the site and build a modern 12,000 square foot home in its place, as rendered below, were approved in 2011.
2712%20Broadway%20Rendering%202013.jpg
While the project has been quietly on the market for a bit, it’s about to be officially listed at $18,000,000 “for the lot plus entitlements” or $28,950,000 including construction of the new six-bedroom home across five floors, the permits for which were recently issued.

And yes, they’re selling the view from the back of the house:


2712%20Broadway%202013%20view.jpg
∙ Listing: 2712 Broadway – $18,000,000/$28,950,000 | Floor Plans [2712broadway.com]
Party Of Five Eight Move To San Francisco’s Billionaires Row [SocketSite]
Designs For The $8 Million “Teardown” On Billionaires Row [SocketSite]

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Comments from “Plugged-In” Readers

  1. Posted by Mark

    Geez, this is getting insane.

  2. Posted by egg_cream_of_OCD

    Wow that looks like a Subway Sandwich shop sporting a jauntily lopsided plywood chapeau.

  3. Posted by Eddy

    Best lot in the city. Not worth 18m even with entitlements. 11-12 would be more appropriate. Maybe the neighbors will pool funds to secure the lot and build something more in line with their tastes.

  4. Posted by 49yo hipster

    developer is smoking crack to offer this with such an ugly facade. Since when does a high end home in SF sell when it looks like a bland suburban mid-rise office bldg? Use your brains people, shees!

  5. Posted by BigV

    looks a lot more interesting than the boring old stuff on either side of it.

  6. Posted by AnonArch

    Uh, the “boring old stuff” on the right (east) was designed by Robert A.M. Stern and is a well published and cited residence and is not “old”. http://www.ramsa.com/en/projects-search/houses/residence-in-4.html
    Stern’s design was inspired by ” Looking back to the work of Ernest Coxhead, Bernard Maybeck, and Willis Polk, among other early twentieth century architects who helped establish San Francisco’s unique tradition of residential architecture”.
    Now I know this type gesture by an architect to be adapting the historic architectural vocabulary of a city may be currently out of fashion for many who now want modern shiny bling bling, but I for one always admired this residence.
    As for the house on the left(west) side, what is wrong with a house which presents such a calm façade to the street? I find it a relief that not EVERY house on Outer Broadway is trying to scream for attention and this home retains what was the original scale for homes in this neighborhood and has one of the few remaining landscaped front elevations with a very beautiful mature tree.
    The only dog is 2712 Broadway which should be torn down indeed, but hopefully the proposed design will not be the final outcome.

  7. Posted by soccermom

    All that money and some weed merchant will still park a crappy Toyota 4Runner in front of your house, even in the renderings.

  8. Posted by soccermom

    Also, FWIW:
    Going from 7.8mm to 18mm in 4 years seems insane, right?
    But it’s not that far off from the S&P 500 trading 850’s in April of 2009 to mid 1600’s today. For all the developer’s cleverness, there is some beta in the asset class. Buying pretty much anything that didn’t float or fly in April of ’09 was a good idea.
    Ahhh, retrospect, we know thee well.

  9. Posted by citicritter

    The seller/designer should be PAYING someone to live in that heinous looking house – 80s-style asymmetrical barrel roofs at this point in time are soooo banal, corporate and dated – can’t believe anyone would actually build this, or buy it for $29mil!

  10. Posted by Denis

    The proposed design looks a bit like the West Elm in Emeryville:
    http://goo.gl/n8u4W

  11. Posted by noe mom

    This is very depressing. If the Planning Commission approves this, it is over for anything remotely “classy” let alone matching the Residential Design Guidelines in this City. I agree about the crack comment, but it is more likely a case of extreme hubris and the whole lack of originality that has taken over the City lately with little or no respect for precedent and the feel for individual neighborhoods or the City itself. Hard to believe the neighborhood would allow this to happen.

  12. Posted by Oceangoer

    ” Hard to believe the neighborhood would allow this to happen” NIMBY’s are now okay? Usually I see them excoriated here.

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