Like many homes of its size and stature, the 1912 mansion that Safegraph CEO Auren Hoffman has listed in Pacific Heights comes with an elevator shaft.
But there’s a big caveat in the new listing’s marketing materials: “You can install the elevator.”
In a video tour of the property, listing agent Ted Bartlett of Compass describes the ground-floor concrete-vaulted wine cellar, hidden away behind a vintage bank safe door, as “the special room that may one day inspire the installation of the elevator to all floors in the existing shaft, which is currently large closets on all four floors.”
The unfinished project was likely begun by the home’s previous owners, Wedbush Securities managing director Stephen Massocca and his wife Anne Marie. They had owned the home since 2001 and appear to have abandoned some of their planned renovations by the time Hoffman bought the six-bedroom, 6.5-bath from them in an off-market $12-million deal in June 2015, according to public records. Shortly after the sale, records from the Department of Building Inspection show sign-offs on a number of years-old permits, including “an elevator that was never installed.”
3015 Pacific Avenue (Zillow)
Other updates of the 1912 home were completed, including the open concept kitchen-family room that leads out to a south-facing terrace with panoramic views.
Terraces and decks provide the bulk of the outdoor space on the 45-foot-wide lot, other than a brick-paved “play area” that also acts as a driveway for the three-car side-by-side garage.
The home maintains many of its original features, like the portico entry, intricately inlaid hardwood floors, grand staircase and walnut-paneled fireplace on the main entertaining floor. The primary bedroom, as well as two other bedrooms, are one flight up. One level above that there are three more bedrooms and a top-floor family room with wet bar, fireplace and terrace.
Buyers could certainly imagine the value of taking the proposed-elevator straight from the ground floor wine room to the top-floor entertaining space. But they will have to add the cost and time of that work on top of the $14.5-million ask. A completely remodeled, slightly smaller home with an elevator in nearby Presidio Heights is currently in contract with a $15.5-million asking price.
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