Redesigned by Cass Calder Smith in 2002, the 1,462-square-foot, two-bedroom unit #1202 in the Royal Towers at 1750 Taylor Street, “San Francisco’s most distinguished address,” last sold for $2.55 million in June of 2015.
The southwest corner unit features panoramic views, a modern open concept floor plan, a southern terrace, and a designer kitchen with custom cabinetry, stone counters, and high-end appliances.
And having returned to the market priced at $2.795 million early last year, removed from the MLS, and then relisted anew for $2.595 million four months ago, the list price for the luxury unit in the rather established neighborhood of Russian Hill has just been “improved” to $2.395 million, a sale at which would be considered to be “at asking” according to all industry stats and aggregate reports but would represent a 6.1 percent net drop in value below its mid-2015 price on an apples-to-apples basis.
If you think you know the market for luxury units in distinguished San Francisco neighborhoods, now’s the time to tell.
when I see a place like this I think of it as an utterly standard two bedroom condo layout in a rectangular floor plate that someone put on a copy machine and printed at about 20% enlargement and then upgraded some of the appliances.
You’re buying a place like this for the views, not the floor plan.
Cass Calder Smith isn’t my thing. But there are buyers out there who value that. Combine with views. Is there something about the building that doesn’t work?
UPDATE: A Distinguished Russian Hill Drop