SF’s most expensive residential listing goes into contract

Listed at $40 million since last fall, 3450 Washington Street in Presidio Heights went into contract last week, according to listing notes.

The home, which public records show is owned by billionaire cloud computer co-founders and married couple Mark Armenante and Young Sohn, originally came to market asking $45 million in September. If it had sold at close to that price it would have been the most expensive single-family home ever in the city, beating a $43.5 million Pacific Heights sale in 2021.

Even with a $5.5 million price cut to just under $40 million at the end of November, the completely remodeled 1930s-era French-Normandy-inspired six-bedroom, 8.5-bath is still the most expensive residential listing in San Francisco, with some Pacific Heights mansions asking around $35 million. Its sale is sure to be followed closely by SF agents looking for a sign of which way the wind is blowing for luxury listings this spring after a slow holiday season, when buyers were waiting on the sidelines due to economic and political uncertainties.

Depending on the final sale price, the home could kick off the year with an amount that is more than the city’s biggest 2022 residential sales, which topped out at $34.5 million.

At nearly 10,000 square feet, the four-story manse in Presidio Heights would trade at about $4,000 per square foot if it sells near its asking price.

Armenante and Sohn bought 3450 Washington Street for $18 million from University of Phoenix founder John Sperling and his son Peter in 2014, according to loan documents and title records. The property was purchased through the couple’s YM2 LLC.

In 2016, they gutted the Golden Gate Bridge-view home down to the studs while largely leaving the Albert Farr-designed facade alone. Some updated amenities in the 90-plus-year-old home include a sauna and steam room, a three-car redwood-paneled garage and a 3,000-bottle temperature-controlled wine cellar, which hides a secret cigar room behind its mirrored back wall.

Listing agent Antoine Crumeyrolle of Compass said he could not comment on the home now that it is in contract, but earlier when the home listed he said via email that the sellers have multiple properties and were not using this one. When he dropped the price in November, he said it was an indication to buyers that “the sellers are serious about selling the house sooner than later.”

With the home in contract, it appears the strategy worked.