It sits there on Russian Hill, a massive compound that looks more like a high-tech fortress or a Bond villain’s lair than a traditional home. If you’ve ever walked the crooked part of Lombard, you’ve probably missed it. That’s the point. 950 Lombard Street San Francisco isn’t just an address; it’s basically a case study in what happens when tech wealth, obsessive architectural detail, and the brutal reality of the California real estate market collide. People call it "The Residence 950."
Honestly, the price tags alone are enough to give you whiplash. It hit the market years ago for $45 million. Then it sat. Then the price dropped. Then it became a symbol of the "new" San Francisco—a place where $20 million price cuts are actually a thing that happens.
The Architect’s Fever Dream on Russian Hill
Troon Pacific, the developer behind this behemoth, didn't just want to build a house. They wanted to build a statement. Greg Malin, the CEO of Troon Pacific, spent years obsessing over things most homeowners don't even think about. We're talking about air filtration systems that refresh the oxygen every few minutes and a foundation bolted into the bedrock of Russian Hill.
It's huge.
The estate spans roughly 9,500 square feet, which, in San Francisco terms, is basically a private continent. Most of us are fighting for an extra closet. This place has a wellness center, a subterranean art gallery, and a pool that looks like it belongs in a five-star resort in Bali. But there’s a weird tension there. You have this ultra-modern, LEED Platinum-certified glass and stone structure sitting right next to the historic Willis Polk-designed house that was moved—literally picked up and shifted—to make room for the new build.
Most people think of Lombard Street and picture tourists screaming in rental cars on the "crooked" block. But 950 Lombard is on the "dead-end" portion. It’s quiet. Eerily quiet. You get these 270-degree views of the Bay Bridge, Alcatraz, and Coit Tower. It’s the kind of view that makes you realize why people are willing to pay eight figures to live on a steep hill.
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Why 950 Lombard Street San Francisco Stayed on the Market
You’d think a house with a four-car "auto gallery" and a private park would sell in a weekend. It didn't. When it launched in 2018 at $45 million, it was the most expensive listing in the city.
The problem? The pool of buyers who can drop $40 million on a single-family home in San Francisco is tiny. It’s not just a pool; it’s a puddle. Most of those folks are looking for Pacific Heights mansions with old-school prestige. Russian Hill is cool, but it’s dense. It’s urban.
Then there’s the "Wellness" factor. 950 Lombard Street San Francisco was built to be one of the healthiest homes in the world. It has shielded electromagnetic wiring to reduce "dirty electricity" and a massive water filtration system. For some tech billionaires, that’s a selling point. For others, it’s just a lot of expensive maintenance.
Real estate experts like Joel Goodrich or the team at Sotheby’s have often pointed out that ultra-luxury homes in SF face a unique challenge compared to LA or NYC. In LA, $45 million gets you a massive estate with an acre of land. In SF, it gets you a very vertical masterpiece on a city lot.
The $20 Million Haircut
In 2020, the price dropped to $40.5 million. Still no takers. Eventually, the price plummeted toward the $25 million mark. Seeing a $20 million reduction feels like a failure, but in the world of ultra-high-net-worth real estate, it’s often just a "price discovery" phase.
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The market was shifting.
Tech CEOs were moving to Miami or Austin. The "doom loop" narrative about San Francisco was starting to take hold in the press, even if the reality on the ground was more nuanced. 950 Lombard became the poster child for the "luxury correction."
But let’s be real. Even at a "discounted" price, the home is a feat of engineering. The outdoor space alone is a miracle for Russian Hill. They managed to create a private forest in the middle of one of the densest neighborhoods in America. It’s got olive trees that are probably older than the city itself.
The Invisible Tech
If you walk through the house—which, let's face it, most of us will only do via high-res zillow photos—you don't see the tech. That's the trick. The speakers are invisible, plastered into the walls. The heating and cooling are silent.
- Air Quality: The system monitors CO2 levels and VOCs in real-time.
- Water: Every drop coming into the house is filtered at the main line.
- Sustainability: It’s one of the few homes of this scale to hit LEED Platinum status.
It’s the ultimate "prepper" palace for someone who wants to survive a pandemic or a climate event in absolute luxury.
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What This Tells Us About the SF Market
The saga of 950 Lombard Street San Francisco isn't just about a rich person's house. It's about the ceiling of the market. For a long time, it felt like prices in the 415 would just go up forever. This property proved that even at the top, there is a limit to what people will pay for "potential" and "wellness."
It also highlights the divide between the historic charm San Francisco is known for and the hyper-modern glass cubes the tech industry wants to build. The fact that they had to preserve and move the original 1907 house on the site tells you everything about the city’s complex relationship with its own history. You can't just tear things down here. You have to dance with the Planning Department.
Key Takeaways for High-End Real Estate Enthusiasts
If you’re tracking properties like this, or maybe you’re just a fan of architectural voyeurism, here’s the reality of 950 Lombard:
- Over-customization can be a trap. The "wellness" features are incredible, but they also mean the buyer has to buy into the developer’s specific vision of health and technology.
- Views are the only thing that doesn't depreciate. Regardless of the interior finishes, that 270-degree view of the Bay is what actually holds the value.
- Russian Hill vs. Pacific Heights. This property tried to make Russian Hill the new "Gold Coast." While it's a premier neighborhood, the old-money gravity of Broadway and Billionaire’s Row is hard to pull away.
Actionable Next Steps
If you're interested in the architectural history of the site, look up the work of Willis Polk, the architect of the original house that was preserved on the property. His influence on San Francisco's "Brown Shingle" style is a massive part of the city's DNA. For those following the market, keep an eye on the North Beach and Russian Hill sales data via the San Francisco Association of Realtors (SFAR); it's the best way to see if the luxury segment is truly rebounding or just stabilizing after the volatility of the mid-2020s. Lastly, if you’re ever in the area, walk the block of Lombard between Leavenworth and Hyde—just look up. The cantilevered terraces of 950 Lombard are a masterclass in modern structural engineering, even if you never get past the gate.