Superfans of the booming Stonestown Galleria can own a piece of its history at a discount.
A half-acre property across from Stonestown, built by the Lakeside mall’s original developers as their personal home, has just taken a $1 million price cut.
The new $4 million price point has lured back buyers who were interested in 100 Stonecrest Dr. when it first hit the market this spring, according to listing agent Mary Macpherson of Vantage Realty.
An active negotiation that predates the price cut is also in progress.
“We’ve got two horses we’re riding at once right now, and we’ll see how it goes,” Macpherson said of pursuing the price drop in the midst of the ongoing negotiations. “But as soon as I cut that price to the $3.990(M), the texts started coming out: bing, bing, bing.”
The sellers bought the 5,400-square-foot home from its longtime owners in 2021 for just over $4 million. They primarily lived in the South Bay and used the Lakeside property periodically, but never moved in full-time, Macpherson said.
They painted the interiors and redid the bathrooms, adding a fifth. Three of the four bedrooms are now en suite.
They also maintained the expansive grounds, one of the biggest selling features. The corner lot has a large lawn, landscaped garden with a fountain, terraces, and a glass-enclosed lanai.
Other than the bathroom updates, the 1941 property, a rare San Francisco colonial complete with front portico, is in largely mid-century condition. Macpherson said the “‘Mad Men’ entertaining vibe” includes a lounge with a bar inside a closet and a stairwell with glittery walls and a velvet railing to access a lower-level bar with “mirrors everywhere.”
“It’s a museum to a lot of people,” she said. “People that saw it once before want to bring back their family, their sisters, aunts, brothers, uncles, whatever, because they’re just dying to get in.”
The home was previously the residence of the late Marie Brooks, who owned the Ellis Brooks Auto Center and served on the California Department of Motor Vehicles Board and the San Francisco Airport Commission. Brooks once hosted Richard Nixon at the property, Macpherson said.
The property was built by Henry and Ellis Stoneson, Icelandic brothers who were responsible for the initial development of the Lakeside neighborhood adjacent to Lake Merced. The duo built hundreds of homes in the area, as well as the Stonestown mall, which opened in 1952. Henry lived at 100 Stonecrest, and his brother lived down the street.
The profile of the Stonestown mall has risen significantly in the five years since Macpherson listed the home for the Brooks family in 2020. She lived nearby for many years and said her kids would take the train downtown to what was then the Westfield rather than hang out at Stonestown. Now, the situation has reversed.
But Macpherson said those interested in buying the home are not particularly motivated by mall access. Rather, they hope to find the kind of large estate traditionally seen in Seacliff and St. Francis Wood but at a relatively cheaper price.
“In St. Francis Wood, this is a $7 million house,” she said.
Other potential buyers work on the Peninsula and appreciate the home’s period details and location near the highway on the city’s southern side.
“We’re sort of this perfect unicorn. The only thing is, unicorns can be trickier to sell, because that buyer pool is very specific,” she said.