Nice chuckle this morning reading the Chronicle's very odd piece featuring discreetly unsold high-end properties in San Francisco to prove how strong that segment of the market is- for instance the $65M 2845 Broadway, leaving out that it's been on the market 570 days today. Owned by Peter Sperling of the University Of Phoenix, the planet's biggest university. Best quote:
The Sperlings are purists when it comes to their homes. They do not buy homes to flip them. They do not buy properties to make a profit. They buy homes for the preservation of good architecture, for the location, and for their true love of beautiful homes. The Sperlings have told Barrett that if the house at 2845 Broadway doesn't sell, they'll take it off the market, complete construction and call it home - or at least call it one of their homes. They own more than 30 houses across the country.We can see how painful it must be to part with even one.
· $65 million will buy you an unfinished mansion... [SF Gate]
· Housing For Billionaires [Curbed SF]