San Francisco, CA
Mark Pincus is on the move. The internet super-entreprenuer recently had not one, but two high-priced homes on the market in San Francisco. We recently put the spotlight on the $8,900,000 mansion Pincus and his wife heaved onto the market in the Presidio Heights neighborhood. To much less fanfare, the Pincus’ quietly listed their other property in San Francisco’s Cole Valley neighborhood, and now it’s being reported that the home has a buyer. Like the other property, the Cole Valley home is highly-stylized and decorated to the max, a given since Marc’s wife Alison is co-founder of decor marketplace One Kings Lane.
This second Pincus home was first listed in late September 2011 at $2,189,000 and endured a price chop in early November to $1,970,000. Property records indicate that the Pincus’ will likely take a substantial loss on the home. They bought the house in August 2005 for $2,850,000. If they get the full asking price from the buyers who are currently under contract to purchase the property, that’s still an $880,000 loss before you even count carrying costs, renovation expenses and real estate fees. With Zynga’s recent IPO, we suspect Marc may be able to cover the losses.
What will the buyers get? Current listing information shows that the home has a total of 3 bedrooms and 3 bathrooms in 2,875 square feet. Set on a lovely and peaceful block just a few minute walk to the shops of Cole Street, this home has been designed for large scale engagements in an impactful and creative atmosphere. The main level of the home features a modern, open-plan kitchen that flows into the formal dining area with dramatic black and white accents. Nearby, the adjacent main entertaining room features expansive open spaces punctuated by a modern forest motif along the southern wall that floats past a frost shrouded staircase. The upper level master suite features panoramic city and Golden Gate Bridge views and is washed with light from three sides. Off the main level, a walk out deck overlooks the redwood covered yard below with lush foliage.