Purchased by Nicolas Cage by way of an anonymous trust for $9.4 million back in 2006, the Russian Hill mansion at 898 Francisco Street resold for $8.5 million in July of 2008, which included the undeveloped lot fronting Hyde Street behind, the development of which could dramatically impact the six-bedroom home’s “glorious” Bay views.

And while not (yet) listed on the MLS nor official inventory, 898 Francisco is now back on the market with a $12 million price tag.

But that doesn’t include the aforementioned Hyde Street parcel which is now being offered for an additional $3.5 million and is zoned for development up to 40 feet in height.

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Comments from “Plugged-In” Readers

  1. Posted by eddy

    So it’s really a $15.5mm listing.

  2. Posted by ohmy

    not that im that picky, but you got the constant cable car “cable slot” sound with the frequent “slap”. What time do they shut down in the PM?

    • Posted by JRSF

      I used to live at Washington and Leavenworth. Then, the cable (which ran outside my bedroom window) ran from I think 6a until nearly 2a. It was really loud, and the metal plates in the street that cars would drive over were worse. Never again.

      • Posted by Mark F.

        They have pretty good double paned windows these days.

  3. Posted by Rillion

    I’m confused as to why Nicholas Cage would be buying something in a blind trust. Who is the beneficiary of the blind trust? It can’t be Cage because then he would be the one buying anything since the beneficiary of a blind trust isn’t allowed to know (let alone control) what the Trust owns. Now if it is just that the Trustee of Nicholas Cage’s Trust isn’t NC and the Trust’s name doesn’t indicate that NC is the grantor and/or beneficiary of the Trust, well then it isn’t a “blind” trust, just a regular trust. While many people do name their Trusts after themselves, it is not a requirement that they do so and it doesn’t make it any particular type of special trust if they don’t.

  4. Posted by Philip

    nobody but a soulless cretin would develop the lot and ruin the house.

    • Posted by Serge

      Given the high number of gut-and-flip IKEA-style remodels we have seen, I do not doubt that someone is itching to develop that lot.

    • Posted by The Milkshake of Despair

      Since the lot has been unbundled from the property, it is indeed likely that it will be developed. The only person who would buy the lot and leave it undeveloped would be the person who buys the corner lot home. No doubt the lot will be offered to the buyer of the house so they can protect their views and have a fantastic rear garden.

  5. Posted by Sassy

    Rich people problems…

  6. Posted by jlasf

    In my experience, I have found that people who can afford $12M can afford $15.5M.

    btw, any positive/negative impact of the major park going in across the street?

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