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Bay Area // San Francisco


THIS $26 MILLION SAN FRANCISCO MANSION A BLOCK OFF BILLIONAIRES' ROW WON’T SELL.
WHY?

Ricardo Cano
April 15, 2022Updated: April 15, 2022 12:32 p.m.

Comments

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1of5

The historic mansion’s classical exterior contrasts with the interior’s many
rooms each featuring unique modern design motifs.

Samantha Laurey/The ChronicleShow MoreShow Less 2of5

The spacious kitchen can accommodate a full staff to prepare lavish banquets

Samantha Laurey/The ChronicleShow MoreShow Less 3of5

The ornate portico entrance opens the way to the luxury fetaures within.

Samantha Laurey/The ChronicleShow MoreShow Less 4of5

The family room of the mansion features an array of modern touches.

Samantha Laurey/The ChronicleShow MoreShow Less 5of5

The green room is so named for the obvious verdant reasons.

Samantha Laurey/The ChronicleShow MoreShow Less
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One of the most expensive homes listed in San Francisco features panoramic views
of the North Bay, a seven-vehicle “motor court” and an elevator accessible on
each of the mansion’s four floors.

With a listing price of $25.8 million, the 118-year-old corner mansion at 2698
Pacific Ave., that sits a block away from the city’s Billionaires’ Row, has only
been home to fewer than a half-dozen families since it was originally built in
1904. It first belonged to a wealthy oil magnate. Decades later, the property
one block north of Alta Plaza Park came into the hands of the doctor who founded
orthomolecular medicine.

The mansion’s extravagant visuals — from the second-floor “green room” that
features gold ceiling accents and a chandelier to the third-floor bathroom with
pearl ceramic sinks — make it an “Instagram dream,” Herman Chan, the owner’s
agent, said. “Every room is a different backdrop.”



The portico entrance’s ornate overhead is encrusted with detailing.

Samantha Laurey/The Chronicle

No corner of the mansion is spared from lavishness — even the dog wash in its
fourth-floor laundry room is coated with navy blue marble tiles.

Yet, the nearly 11,000-square-foot mansion has been on the market since December
2019, according to Zillow. The prolonged listing shows the complexities around
how the pandemic has affected the sales of high-end, luxury homes.

Throughout the nation, sales of these lavish properties increased during the
pandemic, with listings site Redfin showing a 60% increase in luxury home sales
from 2020 to 2021. The jump in those sales is largely attributed to people
wanting more space or privacy during a pandemic, but it also illustrated how the
wealthy were still spending at a time of economic uncertainty for many
Americans.

Yet, in San Francisco the sale of luxury homes (defined by listings of $4.5
million or more) increased by “only” 31% during that same time frame. Meanwhile,
the median sale price for luxury homes in San Francisco decreased by 3.2%, the
only city among the nation’s 49 most populous with a decline in that category.
(New York City was excluded in the data.)



“There has been a little bit of a reticence” from buyers, Chan said. “A lot of
that can be attributed to the pandemic. For the past year, I think people who
are ultra, ultra high net worth are exploring other cities.”

The grand staircase is a soaring, stately feature suitable for making a grand
entrance.

Samantha Laurey/The Chronicle

Through the market fluctuations, the mansion at 2698 Pacific Ave. remained
unsold — though not for lack of attention.

A video tour of the mansion by a popular real estate YouTuber has more than 1
million views with thousands of comments from viewers who admired its
“breathtaking” interior designs.

The owner’s agents regularly field booking requests. Influencers drawn to the
mansion’s exorbitant backdrops want it to be the site of their next photo shoot.
Couples looking to celebrate their nuptials in grand fashion want to walk down
the mansion’s third-floor grand staircase. Startup companies hoping for a big
fundraising haul want to court donors with its palatial excess.

Most requests are turned down politely, Chan said, though a movie production
company of a “major Hollywood star” is tentatively scheduled to film a scene at
the mansion this summer.

About a dozen members of that film’s production crew recently toured what was
once called the “Mack Mansion” — named after Julius Mack, the oil magnate and
financier whom the estate was initially built for by the famed father-son team
Newsom & Newsom. The film crew became enamored with the home’s top-floor views
of the bay, Chan said.

The view from the roof patio of the penthouse suite at 2698 Pacific Avenue is
one of the selling points of the $25.8 million mansion.

Samantha Laurey/The Chronicle

Much of the mansion’s recent fanfare came after it hosted the prestigious
Decorator Showcase in the spring of 2017. A team of 28 elite interior decorators
descended on the mansion, each picking a room in the home to renovate. A
second-floor bathroom now features all-black walls with turquoise tiling and a
marble sink with gold faucets. The library room across from the mansion’s green
room includes modern, orbital-like light fixtures with a wood-beam ceiling.

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The interior designs, much of which remain in place, wooed the current owners,
who no longer live in the home. They purchased the mansion for $16 million in
fall 2017 after attending the Decorator Showcase earlier that year.

Now, they’re asking $25.8 million for the next owner, a price Chan said is in
line with another luxury mansion on the market that hosted the 2019 showcase.

A bathroom in the penthouse features a panoply of designer touches.

Samantha Laurey/The Chronicle

The Mack Mansion and its elegant backdrops have drawn a following on social
media over the years. The property, however, has been on the market since before
San Francisco’s first shelter-in-place orders.

Though there’s no single answer as to why, Chan said the pandemic likely has
played a prominent role.

But, Chan said, “there’s still an appetite for beautiful, beautiful properties,
especially for legacy families in the Bay Area.”

Ricardo Cano is a San Francisco Chronicle staff writer. Email:
ricardo.cano@sfchronicle.com Twitter: @ByRicardoCano







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Written By
Ricardo Cano
Reach Ricardo on

Ricardo Cano covers transportation for The San Francisco Chronicle. Before
joining The Chronicle in 2021, he covered K-12 education at CalMatters based in
Sacramento and at The Arizona Republic in Phoenix as the newspaper's education
reporter. He received his bachelor's degree in journalism at Fresno State.

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