The partnership of Goldman Sachs and JPMorgan Chase, who purchased the mall property out of receivership in November and foreclosed on a $560 million outstanding loan tied to it, have selected Presidio Bay and Prado Group to take over the property for an undisclosed sum. The Chronicle reported that the estimated winning bid amount was around $130 million.
Stepping into 2800 Pacific Ave. is like taking a trip back in time, arriving in San Francisco's Gilded Age, when architects like Ernest Coxhead were creating opulent mansions to enshrine the city's elite. In this Georgian abode, we are presented with a carefully preserved example of Coxhead's work, as well as a particularly rich slice of local history. And though 2800 Pacific Ave. has been called SF's "most iconic" mansion by Chronicle columnist Herb Caen,
In addition to 7,000 new units of housing that are currently under construction and should be ready for occupancy within the next year or two, there are now 11,100 net-new units for which building permits have either been issued, approved or requested, and another 27,400 units in projects that have already been approved but not yet permitted (which includes the majority of the 10,500 units by Candlestick, 7,800 units on Treasure Island and 5,680 units at Parkmerced, projects which have overall timelines measured in decades, not years).
