San Francisco home – ‘treehouse in the sky’ – sells for $2 million over asking price
A San Francisco home called a “treehouse in the sky” has sold for $2.1 million over the asking price — 60% higher than listed — after just 11 days on the market.
The home, located at 177 Belgrave Avenue, in the Cole Valley neighborhood was listed at $3.5 million, or $3 million for the house plus $500,000 for an adjacent lot.
It sold for $5.6 million ($4.6 million for the house and $1 million for the lot).
The three-bedroom, two-bath home was referred to as a “treehouse in the sky” since it sits on a hill near treetops with great city and Golden Gate Bridge views, numerous floor-to-ceiling windows and skylights. The residence came with architectural renderings for a 10,000-square-foot, seven bedroom, nine-bath property with an elevator, according to the Compass real estate company.
“We were blown away by the offers and the final price,” said Aaron Bellings of Compass, who held the listing with Michael Bellings, in a statement. “It was already one of the highest price per-square-foot homes in Cole Valley, and this sale just set the new high watermark. However, Belgrave Avenue is on one of the best blocks in SF and locally known as the Gold Coast of Cole Valley.”
The home was listed at $1,500 per square foot, which was already above any price per square foot in the neighborhood, according to a news release. The property still received 15 offers, all above the asking price. Seven of the offers were for more than $1 million over, and six offers were all cash, including the winning offer, according to Compass.
The home closed in just seven days.
This was first time the home had been on the market in 50 years, according to Compass. Built in the 1970s, it had only one owner.
“Soak in impressive city and Golden Gate Bridge views from the grand living room, complete with a fireplace, exposed wooden beams, and a statement floor-to-ceiling window,” the official property listing states. “The ideal entertainer’s home — the main living area is complete with a large chef’s kitchen, breakfast nook and formal dining area with a large, private deck and direct access to the backyard. This home’s stretching outdoor space is unmatched. Lush paths throughout the property connect your private backyard patio with deck to your city view front porch. “
Cole Valley is known as a small, family-friendly community in the geographical center of the city. The neighborhood’s tree-shaded streets are home to well-kept Victorian homes and a variety of mom-and-pop shops and restaurants.
“If you showed this home to 100 people, I would bet that 99 of them would not think it’s in San Francisco which is one of the reasons it got such high offers,” said Michael Bellings. “I’ve never seen such energy like I saw at the open house with people waiting to get in before it opened. Still, everyone was surprised by the number of high offers and final selling price which was beyond their wildest dreams.”
This story was originally published September 9, 2021 at 4:02 PM.
