A newly built home around the corner from the “crooked” part of Lombard Street offers its own miniature version of the world-famous San Francisco attraction as part of a $21 million listing that looks poised to bring the priciest single-family sale in the city’s residential market so far this year.
There are pricier homes on the market in the city, including Sharon Stone’s old Seacliff home, which came to market last month asking $39 million. But the listing at 1281-1283 Greenwich Street, overlooking George Sterling Park, sold less than three years ago for $18 million, making it the most likely to quickly break the $16.5-million 2022 record set by a Pacific Heights home at the end of March—especially with the city’s sellers feeling pricing vulnerability for the first time in years due to rising interest rates and a declining stock market.
Listing agent Andy Ardila said via email he was not concerned about possible headwinds in the market, or the usual summer sales slowdown, given the unique features of the 2019 new-build home in Russian Hill, one of the city’s most sought-after view neighborhoods.
“This home is not like the other homes in the market,” said Ardila, who is co-listing with fellow Compass agents David Costello, Rita Schmid and Roxana Melgarejo. “This is very specific to that one right buyer who wants this and [does] not need it.”
Ardila called the home a “modern architectural masterpiece,” citing the “striking polished plaster spiral staircase” that is the centerpiece of the 6,600-square-foot five bedroom with five full and three half baths. There is also an elevator and a four-car turntable garage, as well as a “gated porte-cochere,” otherwise known as a driveway, albeit a twisty one “landscaped in sync with the neighborhood and inspired to be a miniature Lombard St.”
The property was purchased by developer Jeremy Ricks for $3.2 million in 2010, according to public record. There was originally a two-unit on the property and it took almost 10 years to get the new four-level single-family home with roof deck permitted, designed by high-end residential architect Dave Swetz, and constructed. In 2015 and 2016 Ricks tried to sell the “shovel-ready project” for $9.5 million, according to listing notes from the time, but ended up holding on until the $18-million sale of the completed property in 2020.
The owners are hidden behind an LLC, but Ardila said they loved the home’s Golden Gate to Bay Bridge views, architecture and the attention to detail in the construction and finishes. It is not their primary residence and, though Ardila said they have “enjoyed this beautiful space,” they have purchased another secondary home.
In the short time the property has been listed, interest has been “steady and positive,” Ardila said, adding that one very interested buyer has “fallen in love with every detail of the home.” Until there is an accepted offer, he and his co-listers will continue to show the property to “agents and their high-net-worth buyers.”
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1281 – 1283 Greenwich St, San Francisco (Redfin, Philippe Newman, iStock)