Andrew Paolucci’s Jordan Park listing draws the attention of SF Gate
September 16, 2017
Will a new listing bring a tiny S.F. enclave into the $5-million-plus club?
Back in 2014, 91 Commonwealth Avenue in Jordan Park sold for $4,962,000. The five-bedroom, 4.5-bath 1915 home remains the highest sale ever recorded in the small enclave tucked away between Geary and California streets, just east of Arguello. Sellers agent Joan Gordon said the “unusual house” was able to net such an unusual price for the area because it had a larger footprint than most Jordan Park homes, with five bedrooms on the same floor, as well as a “fabulous kitchen” and “great street presence.”
In her opinion, the generally smaller homes in Jordan Park are one of the main things keeping the desirable area from breaking the $5-million-mark, a sales point commonly found just north in Presidio Heights (and certainly even further north in Pacific Heights). But a new home on the market is going to try to change that.
Asking $5,200,000, 170 Commonwealth is the most expensive listing in the neighborhood to date. If it sells at or near that price it will dethrone 91 Commonwealth and officially turn Jordan Park into a $5-million-plus neighborhood—an exclusive club even in expensive San Francisco.
But listing agent Andrew Paolucci believes this home has the quality and size to break sales records. “Recently remodeled, the home combines legacy architecture with modern craftsmanship and contemporary amenities,” he says. “The lot size is unusually large, over 8,000 square feet, allowing tremendous natural light from all sides. The kitchen and master bath are state of the art. It has parking for eight cars, including three in a detached garage.”
Not only does Paolucci believe the home will bring in the asking price, but that it will “lead the trend of increased prices in this neighborhood.” In other words, it may be just the sale to bring Jordan Park into the same league as its northern neighbors. (In fact, if it was a few blocks away in Presidio Heights, Paolucci says he’d be asking over $7 million.)
Paolucci also believes the neighborhood will benefit from the massive development planned at 3333 California. The project, which recently submitted its application to the city’s Planning Department, will bring 558 new for-sale units—as well as about 50,000 square feet each of retail and Class-A office space—to the area. “With the new development at 3333 California, the neighborhood is positioned for tremendous growth,” he says.
But Gordon, who has been representing buyers and sellers in the neighborhood for over 40 years, is slightly less bullish. She believes that 3333 California may affect condo prices in the area, but isn’t likely to impact single-family homes. She thinks there’s a good chance that 170 Commonwealth will surpass her record sale down the street, but will it be the one to finally break the $5-million mark? “I’m not sure it will do that,” she says.
Read on SF Gate