Created by merging two units atop the Four Seasons Residences at 765 Market Street, the nearly 3,600-square-foot Penthouse Unit 2CD was purchased for $6.5 million in the fourth quarter of 2005.
Featuring a classic interior designed by Andrew Skurman, the corner unit is outfitted with a foyer, a large living room with built-in window seats, a formal dining room, an eat-in-kitchen, a den and three ensuite bedrooms, with panoramic views throughout and two parking spaces in the building’s garage.
Returned to the market priced at $11.0 million in June of 2020, a sale at which would have represented total appreciation of 69 percent over 15 years, or a little under 4 percent per year, the unit was relisted for $9.9 million two months later but failed to sell.
Listed anew for $9.0 million last year, the list price for 765 Market Street PH 2CD was dropped to $6.6 million this past June, a price which has now suddenly dropped to $4.9 million, a sale at which would be considered to be “at asking!” according to all industry stats and aggregate reports but would represent a 24.6 percent drop in value below its 2005 price.
If you think you know the high-end/luxury market in San Francisco, now’s the time to tell.