The Gold Coast mansion once owned by Zynga billionaire Mark Pincus and his then-wife Alison Gelb, co-founder of One Kings Lane, made headlines last month after receiving a nearly eight-figure price reduction. Having been on and off the market for well over a year and listed for as much as $29,500,000, the home has sat empty since it was purchased in 2015 by luxury real estate developer Troon Pacific. Gaining a trendy black paint job and fresh landscaping but otherwise largely physically unimproved, 2950 Pacific Avenue sold last week for $17,000,000.

Source: SFAR MLS

For what it is (a fixer-upper by San Francisco standards), the home’s entirely intact original design by renowned Bay Area architect Albert L. Farr is remarkable. Beautiful unpainted woodwork and built-ins with leaded glass doors, herringbone flooring and lattice windows galore are seen in these previous listing photos. Get a good look. Most, if not all, of this Dutch Colonial Revival centenarian’s interior stylings may soon be gone.

Building permits have been issued for a multi-million dollar top-to-bottom — and then some — transformation. Approved plans conveyed with the sale include completely reimagining the home’s existing lower floor as a private state-of-the-art health and wellness outfit, and excavating two partially below-grade amenity levels accessible from Broadway Street. Its upper three floors are to be thoroughly modern family quarters connected by a spectacular central stairway (and two elevators). Check out the exterior and cross-section renderings below, courtesy of listing broker Compass.

Troon Pacific tapped award-winning international firm Snøhetta to design the approximately 20,000 square foot ultra-luxury masterpiece. Among the property-to-be’s extensive highlights are eight ensuite bedrooms, a grand entertaining space with wine tasting room and full catering kitchen, a theater, underground art gallery (or garage for 12 vehicles), lap pool, library, outdoor bar and dining area, living walls, entire-home air and water filtration, landmark views, and a new address on Billionaire’s Row: 2895 Broadway Street.

It is possible that buyer of 2950 Pacific Avenue may scale back the approved plans or scrap them altogether in favor of a different vision. But if they move forward, it will be Snøhetta’s first residential project in the United States.

Source: 2895broadway.com

Assuming the home will be renovated to the nines in one way or another, it will be in the company of some very, very pricey pads. The most expensive home ever sold in San Francisco, 2920 Broadway Street, is a stone’s throw away. (It happens to be in the midst of a major renovation right now.) One block to the east, 2799 Broadway Street is currently listed for sale and seeking $35,000,000. It’s worth noting that both properties have only about half the square footage planned for 2950 Pacific Avenue and a fraction of the lot size.