The second most expensive house in San Francisco was sold this year by a Sea Cliff mansion, which once belonged to a local designer.
This was after a multi-million-dollar price reduction.
The estate at 9 25th Ave. was listed last fall for 32 million dollars, but dropped to 28 million dollars in February. It sold on April 18th for 20 million dollars. The sale coincides with the arrival of a number other large single family homes and condos on the market. However, the final price is indicative of the price restructuring that luxury homes face this spring.
In a press release, listing agent Neal Ward from Compass stated that "despite the challenges of today's economy, the remarkable sale of 9 25th Avenue is a resounding confirmation that exceptional craftsmanship and quality will always command attention and respect." Luxury buyers know that properties with this level of quality are a rare, enduring legacy. They cannot be duplicated today.
Compass agent Malin Giddings represented the buyer. City Assessor documents indicate that the buyer is Mistos Partners LP. The address listed on the document is 90 Sea Cliff Ave. George Boutros of Qatalyst Partners in San Francisco, California, was also identified as a link to Mistos Partners.
Boutros became CEO of the Silicon Valley-based bank focused on technology in 2016.
Michael Taylor was a celebrated interior designer who worked for Architectural Digest. He died in 1986, at the age of 59. Taylor, who was from Modesto, created a style called " California Look" in San Francisco during the 1970s and 80s. This was adopted by celebrities, influencers and socialites.
Taylor bought the 7,540-square foot legacy mansion in 1970. It was built in 1941. The east-west orientation of the home, which is located on the bluffs ensures that views are available from nearly every room. Numerous picture windows and French door welcome southern light into the house. The home features five bedrooms, six and a quarter bathrooms.
The gated south-facing courtyard provides privacy. It features Taylor's designs, including a heated swimming pool with fountains and oversized planters, as well as shell-themed wall-sconces.
The last time the home was sold, it was in 1987 to Arthur and Carlyse for $2.35million. Art Ciocca led a leveraged purchase of Coca-Cola winemaking operations in 1980. Art met Carlyse Franzia whose family founded Franzia Wines, one of the Coca-Cola wineries. The current owner completed a complete remodel and modernization by using the same architects that Taylor had originally hired, Porter and Steinwedell.
The city's most expensive sale in 2023 was 3450 Washington St. in January, which sold for $34.5m.
The oldest house in Sea Cliff, 1 25th Ave., was listed at $39 million last spring. The estate, which was once the home of actress Sharon Stone and San Francisco Examiner & Chronicle editor Phil Bronstein and sold in 2005 after their divorce, went up for sale last year, the first time it had been on the market since 2005. It has since disappeared from the market.