298 Chestnut Street: "Villa de Martini"

The asking price for the “Villa de Martini” at 298 Chestnut Street in Telegraph Hill has just been reduced by another two million dollars, now asking $11 million for the Mediterranean-styled urban estate which was built on a triple-wide lot in 1929, with arched doorways and hand-painted palazzo and silver leaf ceilings.

The property was purchased for $8,750,000 in late 2004, after which it was painstakingly remodeled, preserving much of the home’s original architectural detailing (not including the home’s new kitchen nor baths).

Originally listed for $16 million early last year, the asking price was quickly increased to $16.8 million before being cut to $14.888 million after a month, and the price was then reduced to $13.0 million earlier this year.

Comments from Plugged-In Readers

  1. Posted by Joshua

    Beautiful, though difficult to imagine the ideal buyer here. Only two bedrooms on the upper floor, and almost no family would put a child three floors below. For a childfree/older buyer, there are plenty of wonderful condo options at this price-point, that require much less upkeep. Plus no elevator in a vertical house.

  2. Posted by Dixon Hill

    Does anyone know the history of this place? Who were the de Martinis?

  3. Posted by Bay Guy

    Oh yes! No matter the cost, what happens as you grow older and have to navigate all those stairs. (sigh)

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