As we wrote earlier this year:

With a previously renovated kitchen which has since been renovated anew, along with a couple of other improvements, it’s not perfectly apples-to-apples. But having been purchased for $4.6 million in the middle of 2015 when listed for $395K more, the 4,200-square-foot Cow Hollow home at 2622 Chestnut Street returned to the market listed for $5.295 million last year.

Relisted for $5.195 million this past January, the price for the five-bedroom pad with multiple views of the Place of Fine Arts (and Golden Gate Bridge behind) was then dropped to $4.895 in February.

And having been relisted for $4.995 million in May, the asking price for 2622 Chestnut has just been dropped to $4.6 million, a sale at which would represent total appreciation of 0.0 percent for the single-family home since June of 2015.

The sale of 2622 Chestnut Street has now closed escrow with a contract price of $4.73 million. While that’s $565,000 (10.7 percent) under original expectations for the “gorgeous 5BR, 4.5BA Cow Hollow home [that] is remarkably quiet [and] well-built,” it’s officially $130,000 (2.8 percent) “over asking” according to all industry stats and aggregate reports.

And while that’s also $130,000 (2.8 percent) above the price the high-end, single-family home fetched in 2015, that doesn’t account for the cost of the aforementioned kitchen renovation (think Wolf range and dual Thermador ovens) or other improvements.

Comments from Plugged-In Readers

  1. Posted by sfjohn

    P-a-l-a-c-e of Fine Arts…..

  2. Posted by john

    Or commission, what is that like 5%? I wonder what you could have rented for 16k/mo instead.

    • Posted by SFRealist

      I wonder what they saved in taxes.

      • Posted by john

        I thought mortgage interest was only deductible up to 1.1M of mortgage

  3. Posted by Metroliner

    This is an extremely high-quality house.

  4. Posted by midcentfan

    Not a fan of the weird brick fireplace wall in the master bedroom.

  5. Posted by Martin

    I’m not a fan of the frosted windows in the bathroom. It severely limits the view and value of windows in the first place. Just wrap a towel around you if you’re that paranoid that someone with good eyes just happens to be looking in your direction.

  6. Posted by Douglas

    Considering it sits in the middle of a liquefaction zone it better be “well built”!

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