The house at 2 Sixth Avenue in San Francisco went on the market on September 17 at $7.999 million.
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house → go → million
Three weeks later, something rare happened in the real estate market.
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something → happen → market
The house sold for a whopping $15 million, which is 87.5% above the asking price, the New York Post reported.
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Post → sell → price
Built in 1914, the 4,490-square-foot home remained in the original owner’s possession for 70 years before being sold for the first time in 1984, according to The Independent.
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home → build → Independent
The buyer has not been publicly identified.
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buyer → identify → ?
The listing agent, Maureen Terris of Compass, described the property as a ‘once-in-a-generation listing’.
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agent → describe → listing
Ronda Priestner, also of Compass, represented the buyer.
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Priestner → represent → buyer
A house at the edge of the Presidio
The house sits on a 9,233-square-foot lot that borders Presidio National Park.
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that → sit → Park
The listing describes the property as a “rare convergence of architecture, landscape, and place – a private retreat”.
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listing → describe → architecture
Most San Francisco houses are wedged shoulder to shoulder with their neighbours.
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houses → wedge → neighbours
But this one is fully detached and set back from the street.
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one → detach → street
“This house featured well-preserved architectural elements from 1914, was fully detached and set back from the street, and was situated on an oversized lot with front and back gardens bordering the Presidio National Park,” Terris told the Post.
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Terris → feature → Post
“The residence is a beautiful expression of San Francisco’s First Bay Tradition,” the listing says.
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listing → say → Tradition
The house spans 4,490 square feet, with four bedrooms and three bathrooms.
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house → span → bedrooms
It has original redwood trim, a coffered dining room ceiling and fireplaces in the living room and dining room, along with a butler’s pantry that provides generous workspace and storage.
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that → have → workspace
The redwood staircase leads to the four bedrooms on the upper level.
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staircase → lead → level
The primary suite is spacious and comes with a bathroom, three closets and a dressing room.
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suite → come → bathroom
The dining room has French doors that open onto a terrace.
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that → have → terrace
The library looks out over the Presidio.
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library → look → Presidio
The kitchen has a range set into a brick wall.
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kitchen → have → wall
“Mature front and rear gardens envelop the property in greenery, while verdant outlooks extend into the Presidio and golf course.
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outlooks → envelop → Presidio
Windows, French doors, terraces and direct garden access blur the boundary between indoors and out,” the listing says.
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listing → blur → indoors
The French doors open onto the private patio.
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doors → open → patio
The house also comes with a spacious side-by-side two-car garage and more than five driveway spaces.
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house → come → garage
Listed at nearly $8 million, sold for $15 million
In September, the house went on the market for $7.999 million.
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house → list → million
“We received nine strong offers,” Terris told the outlet.
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Terris → receive → outlet
In less than a month, the sale closed at $15 million, which is 87.5% above the asking price.
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which → close → price
At $15 million, the sale works out to about $3,341 per square foot.
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sale → work → foot
The sellers were Bob and Joan McGrath, according to SFGATE.
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sellers → accord → SFGATE
Bob McGrath founded McGrath RentCorp.
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McGrath → found → RentCorp
The couple are in their 90s and ready to move on, Terris told the paper.
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Terris → move → paper
The city’s housing market is quite unique, with many buyers willing to pay well above asking prices.
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buyers → pay → prices
“Much of the wealth generation, especially around real estate, as a result of the AI companies is actually already in the system,” Mike Simonsen, chief economist at real estate firm Compass, told The Independent.
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Simonsen → tell → Independent
“These are people who have already moved into town with big salaries and go, ‘I’ll take whatever apartment is available.’
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apartment → move → salaries
Interestingly, this sale wasn’t a record for the city, as a house in Cow Hollow sold in May for 88.7% above the asking price, also for about $15 million.
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house → sell → million
Bids a million dollars or more above asking are becoming ordinary here, and a house that sells this fast tends to stand out only for how much it went for.
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it → ask → much
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