Hill & Co. Answers Prayers with Sale of a Historic Church
Posted by Garey De Martini — December 10, 2007
SAN FRANCISCO – (Dec. 11, 2007) – The Golden Gate Lutheran Church was built in 1910 and was in desperate need of seismic retrofitting. In fact, the city had placed an injunction on the property and demanded the owners cease operations and do the retrofit or shut down. Unfortunately, the ministry couldn’t afford to have the work done. Still, there was some interest. But the nearly 10,000-square-foot building made of unreinforced masonry had fallen out of escrow with buyers twice before, not surprising considering the significant and complex retrofit work that was required. The situation was bleak until the team of Woodruff-Miller with Hill & Co. brought forth the perfect buyer and oversaw the complicated transaction to its happy conclusion.The buyer was Siamak Akhavan, owner of BMP Construction, a seismic retrofit engineering company. He clearly saw the potential in the property and had the expertise to address the work required.“In the end, the buyer is happy to have a great space to work on – one that he will eventually call home and that will also allow him to provide non-profit space to the community,” said Marcus Miller of the Woodruff-Miller Team. “The sellers are no doubt relieved that they can now move to other churches and be free of the huge liability this building represented.”The Woodruff & Miller offer wasn’t the highest bid for the property, but it was the one that seemed the most feasible. After falling out of escrow twice, that was enormously important. Ultimately, it seems everyone’s prayers were answered.Hill & Co.Founded in 1956, Hill & Co. Real Estate is a San Francisco brokerage long associated with the city’s finest properties. With three offices and nearly 100 full-time agents, the company enables clients to successfully navigate San Francisco’s complex real estate market. Two additional Hill & Co. offices provide property management and rental services. For more information, visit www.hill-co.com.