As we noted near the end of last year:

Originally designed by William Wurster and perched on the eastern slope of Russian Hill, the three-bedroom home at 1116 Greenwich Street, which actually fronts the Greenwich Pathway versus the street, was renovated in 2008 and sold for $2.825 million in August of 2015.

While it’s missing a garage and can only be accessed on foot, the hideaway home features panoramic views, multiple decks, a covered terrace and a potential guest suite with a secondary entrance on its lowest floor.

And touting an “ideal location in the heart of the city’s most quintessential neighborhood,” 1116 Greenwich Street returned to the market priced at $2.995 million three months ago, a price which has been reduced to $2.65 million, or roughly 6 percent below its 2015 price, with an interim reduction to $2.795 million last month.

And having been further reduced to $2.595 million in December, the sale of 1116 Greenwich Street has just closed escrow with an “over asking!” contract priced of $2.65 million, or 6.2 percent below its 2015 value on an apples-to-apples basis.

7 thoughts on “Russian Hill Hideaway Fails to Fetch Its 2015 Price”
  1. Any guesses on what an easily accessible parking spot would have added in value to this place?
    My guess = $750,000

    1. Yeah, my first thought was whos going to buy a house for 2.5, where you have to lug your groceries down an outside flight of stairs.

  2. Hmmmm…. I wonder if any leaders [in] blue chip real estate development and operating companies took a hit in this transaction.

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