While Zynga’s stock price continues to trade lower and lower, CEO Mark Pincus is trading up his lifestyle. According to sources, Mark Pincus and his wife Alison, co-founder of the delightfully addictive home decor flash sale site One Kings Lane, have just picked up a posh new San Francisco pad. Originally priced at $16.5M, the Pincus family paid $16M for the home in the posh SF neighborhood of Pacific Heights.
Pacific Heights, or “Pac Heights,” according to locals, is the must-live-in neighborhood for the billionaire set. The Pincus’ new neighbors include Oracle CEO Larry Ellison, the Getty family, University of Phoenix owner Peter Sperling, and dozens of other monied folks.
The Pincus family has been very active on the San Francisco real estate scene as of late. In late December 2011, they sold an understated San Francisco home in the Cole Valley neighborhood for $1.97M. Also now sold is their stunning, never-lived-in Presido Heights home for $8.2M.
What could possibly top their former properties? Let’s dig into the details of the new Pincus family playground: built in 1907, and never before been on the market, this Pacific Heights view mansion is a classic piece of San Francisco architecture that has remained in the same family since it was built. Set back from Pacific Avenue for the utmost in privacy, the grand residence is perched on the south side of the 2800 block of ‘Outer Broadway,’ one of only three blocks known as the ‘Gold Coast’ of San Francisco – where the most prestigious homes in all of San Francisco sit and elicit gawks from tourists and locals alike.
The residence was originally owned by Edwin W. Newhall and the architect for the home, Albert Farr, was renowned in San Francisco and the Bay Area. Today, the historic residence stands as it was – a classic example of Dutch Colonial Revival architecture with shingled facade, period lighting, and myriad diamond divided light windows, plus picture windows that present magnificent Golden Gate Bridge and Bay views. Spanning four levels plus a spacious attic, the home reflects the design of the early 1900s, with grand formal rooms on the main level, a continuous succession of family bedrooms and sitting rooms on the second and third floor, plus original staff quarters and the main kitchen on the basement level. With over 15 main rooms and approximately 11,500 square feet, the home presents a remarkable opportunity to reimagine the interior design for a variety of 21st century lifestyle needs – something Alison Pincus and her One Kings Lane team will likely have no problem perfecting.
Steve Gothelf of Pacific Union International represented the sellers.