NO ONE, not even a member of “tribe,” wants to buy Ryan Allis’s San Francsico eyesore, and he hasn’t exactly endeared himself to his neighbors.
From Mission Local:
Thirty-foot ceilings, a game room and theater, marble floors — a designer kitchen with “high-gloss cabinetry” — all contained within a 5,525-square-foot, four-story mansion that borders Dolores Park?
Who could say no, especially for the cut-rate deal of $5.2 million?
One of the owners of the 105-year-old converted church at 651 Dolores St. is having trouble offloading the opulent, Bruce Wayne-esque nook on the corner of Dolores and Cumberland dubbed “The Lighthouse.” It is but one of four residences in the 20,000-square-foot building.
In a Facebook post Tuesday, Ryan Allis, the CEO of a company called Hive, wrote that he placed the property on the market in August 2017 — but there have not yet been any takers.
Allis writes that he’s come down $1.6 million since putting the place on the market, in the hope of spurring a sale. And he’d like to make one soon: If he doesn’t unload the manse imminently, he writes that he’ll have to pass it back to its developer, forfeiting his $2 million down-payment (“a truly humbling experience.”).
“I’m not really sure why it hasn’t sold,” said Kevin Delmore, a realtor with Sotheby’s International Realty, which is marketing the property. “I’m surprised no one has scooped this up.”
He said there has been “interest across the globe,” but no takers yet.
What’s the hang-up? “Well it’s inside a 105 year old former church. Some people LOVE that. Some people don’t,” Allis wrote. “We’ve gotten close to receiving offers from nine different people — but no offer.”
Allis wrote that he and his business partners wanted to use the converted church as a community and co-living area associated with his company, Hive, “a global community of leaders who are working together on creating a better world,” according to its website. It would have been called the “Hive Community Center” and “would set the stage for building many coliving/coworking community centers around the world for our network of conscious leaders.”
The city, he discovered, wasn’t impressed.
“Unfortunately, we ran into a zoning issue and the city didn’t support our plans to create a community space there,” Allis wrote. “While we could live there and host our friends for epic dinners and gatherings — we couldn’t turn it into the Hive community co-living, co-working, and gathering space we had envisioned.”
Allis did not respond to a message seeking comment, and the exact nature of Hive’s efforts to seek authorization for his community center are unclear. The Planning Department in December 2016 dinged Hive’s former COO, Satya Kamdar, for holding large yoga and meditation events in the space, as it is zoned for residential uses and not for commercial events. The planning department also sent it a notice of violation for using the residence as Hive’s office headquarters, which is it not zoned for.
A shell company called “Hive Communities LLC” bought the renovated church in mid-April 2016 for $6.5 million — meaning the current sales price would constitute a serious loss.
Writes Allis: “If you’re looking for something really special in San Francisco, message me … but do it quickly! I’ve only got a few days left before I have to give it back to the developer.”
“I’ve learned a lot from this process and experience and even through the challenge, feel that I’ve come out of this even stronger, wiser, and happier.”
Ryan begs you!
Now it’s 24 months later and the home STILL hasn’t sold — in San Francisco — during the best economic times in 20 years and with a wave of SF tech IPOs like Uber, Airbnb, Lyft, Slack, and Pinterest.
We’ve reduced the price from $6.8 million to $5.2 million, which is a GREAT deal and much much lower per square foot than what other places are selling for in the area (nothing in this part of SF is priced under $1000 per square foot). We even hired Sotheby’s to market the property worldwide.
So why hasn’t it sold? Well it’s inside a 105 year old former church. Some people LOVE that. Some people don’t. We’ve gotten close to receiving offers from 9 different people — but no offer. It’s a special space for a very special buyer.
The space has quite a spiritual and magical history to say the least. I LOVED that as I am the son of a minister and a Buddhist social worker who loved supporting their communities. I have been the steward for this property for 3.5 years and now it’s time to hand it over to someone else.
I no longer have enough money to keep the space (it costs me $25k per month in mortgage and property taxes to keep it) and so in a few days it looks like I’m going to be giving the property back to the developer and will be personally losing my $2 million down payment (a truly humbling experience).
I’m writing this to tell the story — and to say if there is anyone who wants to buy this beautiful space and home from me, I’m open to giving a VERY good deal. Just comment or message me or tag a friend who may be interested.
Ryan tagged Judy Albertson when this eyesore was first put on the market. But she was broke as a joke and owed Rain money. However, there just might be a buyer … if only he lived in SF and could stop eating chicken pot pies long enough to make an offer!