If you’re one of the lucky few in the market for a San Francisco mansion near Billionaires’ Row, a $2 million price cut probably isn’t going to be what makes or breaks your decision to buy a home. But it’s put a spotlight back on 2698 Pacific Ave., a historic home originally listed for $26.8 million that slashed $2 million from its asking price in May.
The stately corner house in Pacific Heights that was the host of the 2017 San Francisco Decorator Showcase now has a price tag of $23.8 million (it first chopped $1 million from the original list price in 2021). Listing agent Herman Chan said so much has changed since the mansion was first listed in 2019. Despite the building’s pedigree, it’s harder to sell homes of this scale these days. Especially with the widespread adoption of remote or hybrid work among the largely wealthy tech community, Chan said oftentimes those that can afford a place like this would rather have three $7 million homes in different locations across the country as opposed to one $24 million mansion.