A historic Belvedere home that was in escrow for a Northern California residential realty record $65 million is back on the market after the deal fell through.
The Belvedere estate, known as Locksley Hall, was most recently owned by mining magnate Robert Friedland and his wife, Darlene. The tentative contract had been with a European investment fund that decided to wait out the market, according to the Wall Street Journal.
Listing agent Olivia Hsu Decker said buyers are hoping to see prices drop further and are putting off purchases.
The 12,000-square-foot Locksley Hall at 440 Golden Gate Ave. has 360-degree views of San Francisco, the Golden Gate Bridge and Angel Island, and sits on more than an acre.
The mansion was built in 1895 and is listed on the National Register of Historic Places. It has bronze gates designed by Hearst Castle architect Julia Morgan, 15-foot-high ceilings in the foyer, a wraparound verandah with Corinthian columns, bronze sconces and teak decking.
The Friedlands spent nine years and more than $32 million renovating the house, which was bought for $5.5 million in 1995.
A home down the street sold for $11 million in 1999 – a Marin County record at the time.
Decker said she is putting together a marketing plan to sell the landmark estate and other luxury homes. Such mansions are attracting international attention due to the weakness of the U.S. dollar against the Euro and other currencies, she said.
Susan Kolb, director of the estate division of Pacific Union GMAC Real Estate in Mill Valley, said that so far this year, 15 homes have sold in the $5 million-plus range in Marin.
Read more Tiburon & Belvedere stories at the IJ’s Tiburon, Belvedere section.
Contact Nancy Isles Nation via e-mail at nnation@marinij.com