Designed by Lewis Butler of Butler Armsden Architects and built near the peak of “the highest hill in the coveted neighborhood of Telegraph Hill,” the new four-level, three-bedroom home at 119 Telegraph Hill Boulevard hit the market priced at $15.995 million early last year, accompanied by a number of press releases and press.
“Painstakingly” developed over the course of a decade, along with two other homes on a long-vacant lot, the masterpiece home at 119 Telegraph is the “epitome of sleek, sophisticated contemporary architecture,” with a light-filled interior and spectacular views stretching from the Golden Gate to Bay Bridge, with the Transamerica tower and city framed by floor-to-ceiling windows and walls of retractable glass. And yes, there’s an elevator between the floors, along with a floating staircase, and down to the garage below.
Withdrawn from the MLS and then relisted anew, with a bit less fanfare, for $12.995 million seven months ago, the list price for 119 Telegraph was reduced to $11.995 million this past March and then to $9.995 million this past weekend, a sale at which would be 38 percent below its original list price and expectations but “at asking” according to all industry stats and aggregate reports.
If you think you know the market for masterpiece homes in coveted San Francisco neighborhoods, now’s the time to tell.