The real estate markets in the US are refusing to pick up despite some sporadic bright spots. The premium segment is also having to compromise on pricing to find a buyer. A recent example of such a transaction is a mansion in San Francisco located in the Pacific Heights section. The mansion was sold for $29.5 million. It is a large and luxurious mansion with 11,000 square feet of living space and was originally listed in 2009 for an asking price which was $10 million higher.
The price had to be scaled down by over 25% to make a successful transaction. However it was the 2nd most expensive property to be sold in the city which is not short on money as it is dominated by Silicon Valley tech mavens. Location wise the mansion is set on Broadway Street which perhaps the best area of the city. The mansion boasts of six bedrooms, five full bathrooms, a wine cellar with a 3000 bottle capacity and all other amenities one would expect from a premium property.
The mansion is located in a scenic area and it affords stunning views from the upper floor bedrooms. The manicured and landscaped lawn and the heated swimming pool makes the mansion even more enjoyable. The luxury mansion was originally made in 1922 and it has changed hands several time over the years. The city has several other mansions that command a premium price. The Silicon Valley Mansion is right at the top of the heap as San Francisco’s most expensive property, which was bought by Russian oligarch Yuri Milner, for a price tag $100 million.
Via: bloomberg
