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2724 Pacific in Pacific Heights Sells for $23.889M, Is Biggest Sale of the Year

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After two and a half years and a price drop, the enormous Queen Anne at 2424 Pacific Avenue has officially changed hands for nearly $24 million (final sale price: $23,889,000), property records show. Designed by E.A. Hermann in 1894, the 13,500-square-foot stunner is large enough to host parties for 500, plus a sizable afterparty in the carriage house-slash-game room-slash-gazebo. It's the biggest sale of the year so far, though with the penthouse at 2006 Washington now in contract, it likely won't hold the top spot for long. The seller, former Pacific Stock Exchange chairman Doug Engmann, put the seven-bedroom on the market in November 2012 for $30 million; since then, it's routinely fallen in and out of the top spot on our list of the 25 most expensive homes for sale in San Francisco.

Back in January, the stately Queen Anne slashed its price down to $21.75 million, a chop that reflected a smaller amount of land than originally advertised. The property was originally set to come with three parcels of land totaling .61 acres—which made it one of the city's largest residential parcels—but the lot count dropped to two parcels with .36 acres.

The new owner's identity is concealed behind an LLC named 2728 Pacific, which could refer to one of those neighboring parcels. Property records show a total of three parcels accompanying the sale, so it's possible that the buyer netted the entire package for a tidy sum well below the old $30 million sticker price.

2015's biggest sale is no record, falling well below the $35 million sale of 2950 Broadway in 2013 and even the $28.25 million sale of 2901 Broadway the year before. Plus, with the aforementioned 2006 Washington deal on the way, our money's about to leave the koi pond and head for the condo market, which seems to be where all the action is this year, for better or worse.

· $30M Mega-Manse 2724 Pacific Gets Nip-Tuck, Falls to $21.75M [Curbed SF]
· $30M Pacific Heights Penthouse to Set New San Francisco Condo Sale Record [Curbed SF]
· Updated! The 25 Most Expensive Homes for Sale in SF [Curbed SF]

2724 Pacific

2724 Pacific Street, San Francisco, cA