A $38 Million Fixer Upper?

From the San Francisco Chronicle: During the height of the boom, 2845 Broadway in San Francisco came on the market in 2006, asking a dizzying $65 million.  The French limestone property has had a hard time finding a buyer and has dropped its price significantly over the years, shaving 42% off its original listing price to its most recent ask of $38.5 million....
The enormous, neo classic home and guest house sits on the prestigous Gold Coast neighborhood of Pac Heights and is owned by the Sperling family, who amassed their fortune by starting the private University of Phoenix.  Our friends over at SocketSite now report that the home is finally in contract, after being quietly pulled from the market last week.  Listing agent Warwick Properties also notes the property status as “in escrow,” on its website.
While the contract price has not been disclosed, it may possibly go down in record for the most expensive home sold in SF.  The title currently belongs to neighboring 2840 Broadway, which snatched a cool $33 million in 2011.  One big distinction is that 2845 Broadway is a fixer.  From the curb, it looks all well and done, but the home is like a Hollywood set and really nothing but a shell.  SocketSite reports:
As plugged-in people know, the site upon which 2845 Broadway was built was purchased for $32 million in 2002, the cost of construction for the 17,500 square foot main home and 6,000 square foot guest house has already reached roughly $20 million, and the “buzz among brokers” is that it will cost another $8-16 million to finish the build.  http://blog.sfgate.com/ontheblock/2012/10/17/priciest-s-f-home-sold-may-be-a-fixer/
So, if you had a few million lying around, this house could have been yours to fix up.