Foreclosed Marin Mansion Takes $14M Haircut

San Rafael CA

20 April, 2022

3:38 PM

Description

MARIN COUNTY, CA — A Marin mansion that four years ago listed for nearly $23 million is now selling at what qualifies as a deep discount for the filthy rich. The foreclosed Ross property previously owned by tech billionaire Eric Greenburg was listed earlier this month for $9 million, The San Francisco Chronicle reports. The 11,400 square-foot luxury home located at 27 Upper Road had an $11.5 million unpaid balance when the property entered foreclosure in August of last year, according to Zillow. It sold in a foreclosure auction to the bank for $7 million in January and was listed April 10 for $9 million. The property offers unique amenities including a movie theater designed by Lucasfilm, enough wine storage for 31,000 bottles and an Italian-inspired Olympic length lap-pool and a hot tub surrounded by lush landscape, according to Redfin. The property was for $22.9 million in June, 2016, according to Zillow. "Let's just say it was grossly overpriced for the time," listing agent Matt Francis told The Chronicle. "It's a really beautiful property; it just wasn't a $23 million property." Read more in The San Francisco Chronicle