A mansion on San Francisco's Presidio wall sold for $28.5 million, $10 million over its asking price, setting a city record for the largest dollar amount paid above list, the San Francisco Chronicle reported, citing the San Francisco Business Times.
The deal
- Timeline: listed for $18.5 million on Oct. 2 and closed Oct. 22, about 20 days later.
- Premium: about 54% over asking.
- The house: eight bedrooms and seven bathrooms on about 0.31 acres at the end of a cul-de-sac. It was built in 1966 and designed by the San Francisco firm Whisler-Patri, with seven parking spaces.
- Sellers: the Janice R. Lurie Trust and Robert A. Lurie Trust. The family owned the home for more than 40 years. Janice Rosen Lurie, former wife of ex-Giants owner Bob Lurie, died in July at 96, the Business Times reported.
- Buyer: not publicly identified. Nina Hatvany of Compass represented the buyer.
Biggest dollar overbid, not biggest percentage
Earlier this month, 2 Sixth Ave. near the Presidio sold for $15 million after listing at $8 million. In May, 2512 Union St. in Cow Hollow sold for $15 million against a $7.95 million list price, an 88.7% premium.
About 79% of San Francisco homes that sold for more than $7 million had no mortgage at closing through Sept. 1, the Chronicle reported. Compass data showed more than 140 city homes sold for at least $1 million over asking from January through June, compared with eight a year earlier.