Purchased for $1.7 million in June of 2017, the 947-square-foot, one-bedroom unit #30C in the Four Seasons Residences at 765 Market Street was subsequently remodeled – from its floor to ceiling and kitchen to bath – in an all-white “Modern Mediterranean-style,” with high-end finishes, custom-made lacquer cabinetry and built-ins, and framed city views.
The “beautiful example of Urban luxury in the sky” returned to the market priced at $2.495 million [last March].
And having been reduced to $1.95 million in April, to $1.85 million in June, to $1.65 million in September and to $1.595 million in October, 765 Market Street #30C is now in contract, having been further reduced to $1.35 million last month, a sale at which would be consider to be “at asking” according to all industry stats and aggregate reports but 20.1 percent below its 2017 price (not accounting for the cost/value of its remodeling).
Delisted from the MLS once a contract was secured, the sale of 765 Market Street#30C has now quietly closed escrow with a contract price of $1.2 million, down 29.4 percent from its 2017 value and an even greater loss when accounting for the cost of the remodeling. And yes, the Case-Shiller index for “San Francisco” condo values, which has started to slip, was up 14.9 percent over the same period of time.