Purchased as an empty shell atop the Ritz-Carlton Residences in San Francisco for $4.85 million in 2007, the co-founder of YouTube, Steve Chen, proceeded to have the 3,000-square-foot penthouse unit #2402 built-out as an überswank bachelor pad, the build out budget for which was estimated to have been nearly as much as the shell.

Having gotten married, had kids and moved to the Peninsula, the two-level penthouse was put on the market and priced at $8 million in 2012 but never traded hands.

And today, 690 Market Street #2402 is now officially back on the market with a $5.95 million price tag.

24 thoughts on “YouTube Co-Founder’s Penthouse Newly Listed for $2 Million Less”
    1. Maybe you’re not impressed with this uberswank bachelor pad, but I find the $3 million loss (including buildout and assuming no further haircuts…) to be truly impressive!

      1. Wikipedia says the guy is worth $300M. This may not be at the top of his concerns.

        At least some of his money made it to contractors.

  1. I’m not seeing the ~$4.5MM in the finishings.

    I mean the carpet in the living room does look like it’s top quality, and the place does look like has speakers built into the ceiling all through, and that staircase and the wall next to it look nice (and pricy) … but nearly as much as $4.85 million in 2007 dollars?

  2. What’s the deal with the extra large “electrical closet” on the upper level? Most home’s electrical needs are satisfied by a breaker panel about the size of bathroom medicine cabinet. That space seems to serve the function of a secondary exit hall.

    [Editor’s Note: This pic might help shed some light on your closet conundrum.]

    1. Really highlights the advantages of scratch construction! Good luck itegrating 60+ channels of multiroom audio into an existing finished interior.

    2. Holy smokes, somebody’s got a major hobby. A better and cheaper solution is to just get a big fat fiber WAN connection and subscribe every media streaming service out there. It won’t be obsolete in five years either.

      1. He spent major $$$$ on that. I had been quoted a min. of mid-five figures to install built in speakers and wiring system several years ago. I passed on it because it seemed like a waste of money. Now everything is wireless and you could get high quality pieces for much less than the costs of hard wiring.

  3. I like this location better than other condos in SOMA. You are on Market @ Kearny and you can easily walk to the financial district and very close by the BART and MUNI subway lines. Walk to shopping at Powell or Union Square. Lots of restaurants nearby.

    Good for someone working in the city in this neighborhood and who does a fair amount of client entertaining.

  4. OMG that dining room table looks like something from a soda bar. Is that really where guests eat? Perhaps the ping pong table can double as a sit down dinner area?

  5. I don’t “get” the sink in the kitchen island. Too small to fit a dish or anything in, so its main function would seem to be as a pot-filler — in which case, why not put that over the range? Or is it just a filtered water source for drinking? In either event, why put it on the island, with a sink under it, rather than having it come out of a wall?

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