Purchased for $958,000 in August of 2020, the 718-square-foot, one-bedroom unit #206 in the Maison au Pont development at 2448 Lombard Street, “a contemporary masterpiece in San Francisco’s coveted Marina District,” returned to the market priced at $998,000 five months ago, a sale at which would have represented net appreciation of just 4 percent over the past three years for the garden facing unit and “first resale opportunity,” and benchmark for other units, in the building.
The quiet garden facing unit at the rear of the building “boasts exquisite wood flooring, marble and stone finishes, air conditioning, in-unit washer/dryer, private parking, and a secure bike room,” along with “access to a rooftop deck with stunning city and bay views, a pet-friendly atmosphere with a dog washing station, and a secure lobby enhance.”
And having been reduced to $975,000 after a month on the market and then relisted anew for $925,000 last month, the resale of 2448 Lombard Street #206 has now closed escrow with a contract price of $910,000, down 5 percent on an apples-to-apples basis from the third quarter of 2020, net of the temporal pandemic-era squeeze and despite the fact that the frequently misreported index for “San Francisco” condo values is “still up!” over the same period of time (but trending down versus “pivoting up”).