Famous San Francisco crumbling pink mansion with beach access and stunning Golden Gate Bridge views lists for ‘bargain’ price after felon former owner was convicted of stealing Picassos, de Koonig paintings and a $3 million Degas statue
An infamous crumbling pink San Francisco mansion with beach access and stunning views of the Golden Gate Bridge has been put on the market for a ‘bargain’ after its former owner was convicted of stealing Picassos, several De Koonig paintings and a statue of Degas.
With a turbulent financial journey through bankruptcy court and fluctuating market performances, the troubled property is being relisted at a reduced price of $7 million unless a competing buyer emerges during the upcoming auction this week.
The home’s last infamous owner is former real estate mogul and art con artist Luke Brugnara, a prominent figure in San Francisco’s commercial real estate scene in the 1990s.
In 2019, the house hit the market for $15 million, dropping $5 million from the asking price.
The home, located in the city’s Sea Cliff neighborhood, was first on the market in 2016 for nearly $20 million but failed to find a buyer.
An infamous crumbling pink San Francisco mansion with beach access and stunning views of the Golden Gate Bridge is up for auction for $7 million
With a turbulent financial journey through bankruptcy court and fluctuating market performances, the troubled property is being relisted at a reduced price of $7 million unless a competing buyer emerges at the upcoming auction this week.
In 2019, the house hit the market for $15 million, knocking $5 million off the asking price
Luke “Lucky Luke” Brugnara had five crates of artwork worth $11 million delivered by an art dealer to the home’s garage in 2014, but refused to pay. He was sentenced to seven years in prison
Brugnara faced setbacks, including a denial of a gambling license in Las Vegas due to financial irregularities and allegations of death threats.
In 2010, he was jailed for tax evasion on capital gains from his properties.
After his release in 2014, Brugnara received the controversial art delivery and faced legal troubles that led to his other conviction.
Brugnara apparently stashed his hordes of stolen artwork worth $11 million in his home in 2014 before being jailed for seven years for art fraud in 2015.
The home, located in the city’s Sea Cliff neighborhood, first hit the market in 2016 for nearly $20 million but failed to find a buyer
The 7,000-square-foot, six-bedroom home has enigmatic corners, hidden wine cellars, tiled patios and doors that seemingly lead nowhere.
Bankruptcy court documents obtained by SFGATE shed light on a mysterious 2022 fire at the home and building code violations involving the signature pink staircase leading to the ocean and a private cove.
In 2021, the outlet unveiled an insider’s look at the six-bedroom, 7,000-square-foot home, revealing its enigmatic nooks, hidden wine cellars, tiled patios, and doors that seemingly led nowhere.
The garage, where the FBI seized four crates of art in 2014 (with the elusive fifth crate still missing), was also explored.
Among the artworks seized were pieces by Pablo Picasso and sixteen paintings by Willem de Kooning, along with the Degas statue, worth approximately $3 million.
Built in 1925, the property features seven bedrooms, six bathrooms, formal living and dining rooms, a wine cellar, a top-floor family room, two fireplaces, and a path leading to a secluded cove where dolphins are often spotted in the waves. seen.
Sea Cliff is a quiet and peaceful neighborhood with an emphasis on the outdoors and beautiful views of the surrounding bay
The home’s location alone should help sell it with unobstructed views of the famous Golden Gate Bridge, the Marin Headlands, Baker Beach and the Pacific Ocean
Built in 1925, the property features seven bedrooms, six bathrooms, formal living and dining rooms, a wine cellar, a top-floor family room, two fireplaces, and a path leading to a secluded cove where dolphins are often spotted in the waves. seen.
Despite being somewhat precariously located on the edge of the cliff, the house is not dangerous. The previous owners bought the house in 1990 and occupied the property until recently.
The home’s location alone should help sell it with unobstructed views of the famous Golden Gate Bridge, the Marin Headlands, Baker Beach and the Pacific Ocean.
Sea Cliff is a quiet and peaceful neighborhood with an emphasis on the outdoors and beautiful views of the surrounding bay.
The bidding was scheduled for January 26 at 10 a.m. before the Honorable Dennis Montali, United States Bankruptcy Judge.