We're not going to begin to speculate on why this house sold for $5,750,000 less than it's asking price, other than to say that perhaps this year's Web 2.0 buyers are too young to appreciate the bulls-blood red living room/library room like their parents might have. Although, as the realtor put it:
One of San Francisco's most secluded pieces of paradise, reminiscent of romantic settings in Italy's Positano or the Island of Capri?so the view should count for something. With two kitchens (one for formal entertaining, one for casual) plus a "girl's dream dressing room" and a long private gated driveway, the 4-bed, 4-bath 260 Green Street first appeared on the market in late September 2010 asking $12,900,000 and closed escrow yesterday for $7,150,000. Indeed, with the kind of house-porn you don't usually see with the current practice of staging- the Dubuffet over the fireplace, the random Degas bronzes and the Giacometti coffee table. More house porn at the realtor's site. OK, we'll speculate: the lovely east-facing terrace looks like it's been built out onto the dead-end of Calhoun Terrace and may indeed not be part of the lot as far as the city is concerned. Adverse possession can be a cruel mistress.
· 260 Green Street [Redfin]
· Telegraph Hill: 260 Green Street Takes Another Whack, Drops $5.4M [Curbed SF]
· 260 Green Street [SF Properties]