Where can you find real estate that’s just 40 minutes from San Francisco, 20 minutes from Napa and costs under $67,000? You can find it in Vallejo, which according to recent reports is currently one of the hottest real estate markets in California.
1598 Bay is the new condo development by Presidio Development Partners LLC that’s currently under construction in San Francisco’s highly-desirable Marina district. These homes will sell fast as they are the first new condo to be built in San Francisco’s Marina in decades.
Purchased by Mark and Alison Pincus for $16 million in 2012, the nearly 12,000-square-foot Pacific Heights pad at 2950 Pacific Avenue, the rear facade of which is pictured above, returned to the market in 2014 with plans to add a bunker below the home and an $18 million price tag.
Withdrawn from the MLS and scrubbed from the listing agent’s site in early 2015, the property quietly sold to developer Troon Pacific for $16 million that November, at which point even bigger plans to gut and expand the Albert Farr-designed home were working their way through Planning.
Since then, Snøhetta (yes, that Snøhetta) has further refined their plans for the spec mansion. And in addition to two new basement levels – with a new media room, gallery, (art) storage rooms, a catering kitchen, courtyard, terraces and an all-new (secondary) entrance on Broadway – the latest set of plans now include an all-new interior design and flowing central staircase.
The redeveloped mansion would measure a little over 18,000 square feet, with an elevator running from its lowest level to the home’s remodeled fourth floor, above which the existing attic would be converted into a partial mezzanine level and open roof deck.