Levitating

Posted by Dave Fratello on Wednesday, October 1st, 2008 at 6:02am.

While the world wrings its hands over the financial crisis, some people just grab $7m houses. It's as if they're levitating up above it all.

This week, the large, ocean-view estate home at 700 8th changed hands for a cool $6.9m.

The sale came without warning, in that the listing never went "pending" – it went straight to "sold."

Here's a big, but not gargantuan, home with 5br/5ba and 4925 sq. ft.

The lot's almost twice that big at 9950 sq. ft., almost enough to qualify as the "grounds" for the home.

MBC must admit, we were skeptical about the most recent $7m price after it came down $1m from start. (See "One Cut: One Million.")

But we never questioned the beauty of the home or the location. If you want the Hill Section and you want those big ocean views, this one is truly up there in one of the prestige pockets with awe-inspiring, big-blue-marble views.

Is our market just a little bit different? Yes, in parts.
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