Record Price for Pacific Height Home Sale

Posted by — March 13, 2005

 A spectacular Pacific Heights mansion has recently been sold for the highest price ever paid for a publicly listed residence in San Francisco history, according to Steven Mavromihalis and Gilbert Fleitas, the listing agents with Pacific Union GMAC Real Estate. Neither the buyer of the home at 2920 Broadway, nor the price and terms of the sale can be disclosed according to the terms of the agreement, said Mavromihalis. However, he did confirm that the list price was $29,950,000. For the past 20 years, 2920 Broadway has been the home of Reuben and Ingrid Hills, of the Hills Bros. Coffee Family. The Hills are moving their main residence to the southwest, but will also maintain a residence in the Bay Area. The panoramic view 11,000+ square-foot residence has nine bedrooms, nine bathrooms, and magnificent public rooms, as well as a central courtyard, and wine cellar. Built in 1931, the home was designed by Bakewell and Brown, prominent Bay Area architects who also designed, among other significant buildings, San Francisco's City Hall.  "The home is on one of the most coveted and sought after blocks in San Francisco, and has the most spectacular views you've ever seen," said Mavromihalis.  "At the sellers request we carefully screened each party requesting a showing to determine their desire and ability to purchase the home and, much to our surprise and delight, our marketing effort successfully attracted literally dozens of motivated and qualified principals.  Most were local, but many were from out of state, while a fewer number were from Asia and Europe." said his business partner Gil Fleitas. Mavromihalis and Fleitas, are Pacific Union's #1 Top Ranked Team and among San Francisco's premier real estate agents, with more than $74 million in sales last year. They were the third agents to represent the Hills home, which had previously been listed for as much as $45 million. "The success of this sale," said Mavromihalis, "was the result of an intense year-long and world wide marketing effort by our team of six dedicated professionals who offer a combined 90 years of real estate experience. Every effort and resource of Pacific Union GMAC Real Estate was deployed, with record breaking results and another satisfied client" About Pacific Union GMAC Real EstateFounded in 1975, Pacific Union GMAC Real Estate is the region's fourth largest residential real estate firm with 16 offices San Francisco, Marin, Alameda, Contra Costa, Sonoma and Napa counties. As a GMAC Home Services company, Pacific Union offers relocation, mortgage and other real estate transaction services through a network of affiliated brokers and national providers. Pacific Union Commercial Brokerage in San Francisco offers commercial sales, leasing and investment opportunities. For more information, visit www.pacunion.com.

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