An offer has been placed on the former home of former University president Stephen Joel Trachtenberg after more than a year on the market for $4 million, Executive Vice President and Treasurer Lou Katz said.

University officials have said the profits from the Bancroft Avenue house will fund the multi-million dollar renovations to the F Street House, where University President Steven Knapp now lives. The renovations were completed this summer and the sale of the Trachtenberg house has not been finalized.

“The transaction is still pending,” Katz said in an interview last week.

Out of concern for the bidder’s privacy, Katz declined to disclose any further details about the offer on Trachtenberg’s former residence.