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.

23 thoughts on “Free Fallin’ Atop The Four Seasons”
  1. Is this Marisa Meyer’s apartment? Of the Google/Yahoo “fame”? Taste and design is very hmmm specific and would require a total re-do IMO.

        1. Someone with lots of experience working with them can correct me if I am wrong, but my sense was that avoiding a look that is in bad taste was/is the major point of paying all that money to a name like Andrew Skurman for their interior design skill. That you are paying that person for their aesthetic, they are not asking you for a decision on every color or materials choice and thus if the end result is in bad taste, that is the really the responsibility of the designer, not the owner.

          The silver lining to this is that, if this is the same Betsy DeVos that is married to former CEO of Amway, she can well afford a nominal $1.5+ million loss on this property. It’s not like she had to work to earn that money, and it’ll be “easy go”, just like the money her family invested in Elizabeth Holmes’ blood-testing company Theranos.

          1. Some designers have a known style that clients seeking that style will go to them.
            However, for some of the highest paid designers, their most important skills is at reading people, that they will good at delivering their client’s tastes rather their own.

  2. I am tempted to say that any well-heeled buyers who can snap this up at < $5 million are getting a steal, but perhaps the $6,940 per month HOA dues will give such buyers pause. I obviously don’t know the market for luxury condos in San Francisco.

    1. Depends on what one or more of the nine other available listings in this building close for. Compare this unit with Penthouse Unit 3A: 3 bedrooms, 4 bathrooms currently asking $2,718 per ft.² with 2 car garage parking. Penthouse Unit 2CD, described above, including 3 bedrooms, 3.5+ bathrooms and 3,548 ft.² with 2 car parking now asking $1,381 per ft.². A 2 bedroom, 2.5+ bathroom unit on a lower floor just went pending for $1,795 per ft.².

      Either the other penthouse unit is wildly (65 percent!) overpriced or the buyer of this unit will be getting a steal, if they manage to close on it for the current asking.

  3. Gah, the decor.

    I remember the Marisa Meyer purchase in this building when it opened. I have always found these “luxury residence towers” around Yerba Buena Gardens to be an odd offering. I guess if you want a pied-à-terre in a building with a staff and a doorman, you could do worse. But this is such a charmless part of town to spend your time in. Why not one of the more distinguished towers in Russian Hill, Nob Hill, or Pacific Heights. Better views, more charm.

    What’s the plus of this building, exactly?

    1. This building offers a 20,000-square-foot amenity area, including wine cellar and auditorium to special presentations to building owners/residents. If this sort of thing is important to you, then there is nothing comparable in Russian Hill or Pacific Heights. Also, if you can’t stand the idea of living in an architectural masterpiece built 100 years ago, this building is for you. Some people want to live in the newest/shiniest.

      I think the decline in price has a lot to do with a $100MM solution to their structural issues, which might or might not fix the problem.
      I’m trying to figure out why the two bedrooms on the lower left have their own entrance. Is that for Airbnb?

      1. I think the decline in price has a lot to do with a $100MM solution to their structural issues, which might or might not fix the problem.
        Are you confusing this place with the Millenium ?? (Or are structural issues the latest must have ammenity)

    2. One plus might be that it’s much more accessible to Silicon Valley. Not enough for me to want to spend millions of dollars to live there, but it sets it apart from the more northern neighborhoods.

  4. The bath adjacent to the “primary bedroom” – which I would think would make it the “primary bath” – has only one sink.
    O M G !! Is that even legal ?? Maybe, but still, it has to knock a million or two off the price.

    1. It’s a bird
      It’s a plane
      It’s a supercolumn.
      (Whether the controls to Oz are built in you’ll not find out unless you buy)

  5. That floor plan…talk about labyrinth.
    Imagine making your way from the primary bedroom to the breakfast room in the morning. Let’s see…through one hall – then through another curved hall – pass through the foyer – then another hall – a little vestibule – then through the dining room – another hall – through the kitchen and finally to the breakfast room…Opps, I left my cell phone on the nightstand

    1. According to commenters on this site who apparently are in the S.F. real estate “game” one of the target markets for units of this type are “clients in Asia”, who presumably aren’t as aware of the day-to-day conditions on Market St. except for what they hear on their local news. That commenter didn’t indicate what Asian country said clients were buying from, but if those clients were PRC princelings trying to squirrel their ill-gotten gains away from prying eyes of Chairman Xi Jinping’s ongoing anti-corruption campaigns, they don’t really care about what Market St. is like, they’re only interested in the asset and whether it will retain it’s value.

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