Pacific Heights' 1925 Gough is a very special building. It is the only residential building to project into Lafayette Park, and it "set a new standard for luxury" when it was built back in 1908 by starchitect-of-the-time C.A. Meussdorffer. Unit 53 in the co-op building sold back in 2012 for $985,000. At that time, the two-bedroom, three-bathroom apartment was in need of a makeover to upgrade its cornflower blue kitchen and outdated bathrooms. Its buyers gave it all the updating that it needed but put it back on the market less than two years later with an ask of $2.85 million, an increase of $1.865 million over what they'd paid.
Despite the lovely renovation, the unit has had a hard time selling and this week received its second price chop since listing in August. It's now down to $2.295 million, which is $555K less than the initial list price but still a healthy increase over its 2012 sale. Because 1925 Gough is a co-op, any buyer needs to be approved by the board and so the apartment can't just automatically go to its highest bidder.
· 1925 Gough [Redfin]
· Want Lafayette Park as Your Backyard? Now's Your Chance [Curbed SF]