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Presidio Heights Mega Flip Knocks More than $1 Million Off Price

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Original $12 million asking apparently too rich (even for this city's blood)

After sitting on the market for roughly six months, the five-bedroom, 5,825-square-foot home at 101 Maple Street in Pacific Heights slashed more than a million dollars off its price over the weekend.

The circa 1971 home languished with an unfortunate retro exterior for years, but local architect Ravi Anand spent two years molding it into something new, and it went back on the market in October for a $12 million asking price. Last time the place sold was for $3.3 million in 2013.

Anand was hired by developers MIGSIF to redesign of another big-money flip at 2312 Washington Street, which sold for nearly $11 million after only three weeks. The house at 101 Maple, only a block south of the Presidio, features a glass-enclosed central staircase, a Calcutta marble kitchen, Venetian plaster, white oak floors, and a Bocci chandelier.

There’s also an outdoor fireplace, a temperature-controlled wine cellar, an elevator, and a pet shower in the laundry room. The rooftop deck is accessed via a retractable glass roof over the master bedroom. On a clear day, you can see the Marin Headlands.

Buyers can now get all of that for 8.4 percent less, when the price tag came down to $10.99 million. The original $12 million figure was $2,060 per square foot, more than three times Trulia’s estimated Presidio Heights average. The new figure is a comparably thrifty $1,886 per square foot.