The most expensive house for sale in San Francisco is a 10,000-square-foot mansion with panoramic views of the city — and it just got a $6 million price cut.
The Billionaire’s Row mansion at 2990 Broadway Street hit the market for $38 million at the beginning of June, according to data on Homes.com. It was taken off the market in July and relisted at its original price in August. As of last week, though, the price decreased by nearly 16% to $32 million.
Even so, the house remains the priciest property for sale in the city, Homes.com listings show. The next most expensive listings sit at $29 million.
Listing agents Joseph Lucier and Stacey Caen told the San Francisco Business Times that the price cut is in response to other luxury properties on Broadway Street that have sold this year. Those sales include Lauren Powell Jobs’ record-breaking $70 million purchase in July and the mid-August $29.15 million sale of 2799 Broadway.
“Two recent sales on Broadway over the past couple of months have really framed what the current market is, and we’ve reduced into that framework to sell this house,” Lucier told the outlet. “We are adjusting and have the property positioned such that it’s responding to the current market appetite and values on outer Broadway.”
Neither Lucier nor Caen immediately responded to requests for further comment.
Known as the Jewett House, the four-bedroom, 10-bathroom property was built in 1986 on the last buildable lot on the Gold Coast, taking over the “most coveted, cornerstone location” that includes views of the Golden Gate Bridge and Alcatraz, the listing agents from Sotheby’s International Realty wrote on Homes.com. It was designed for “elegant living and grand entertaining.”
The sale comes following the death of the property’s owners, Fritz and Lucy Jewett, their son told the Wall Street Journal when the house hit the market in June. Fritz Jewett passed in 2008 and his wife died last December.
The couple’s son said the house hosted guests including Nancy Pelosi, former President George H.W. Bush and Britain’s Prince Philip.