Palace of Fine Arts views and Golden Gate glimpses weren't enough to garner a $5.495 million sale price for the five-bedroom home at 2622 Chestnut Street in Cow Hollow. The house, which hit the market in mid-October, dropped its price by a full $500K this week to land at $4.995 million. There's not much in the way of curb appeal about the place, but inside there are nice touches like a carved marble fireplace and arched windows and doorways. The backyard has been leafily landscaped with stone walls, a fountain, and a fire pit.
So why the big price drop? The home is very nice, but not as nice as many of its flashier Cow Hollow counterparts. The Palace of Fine Arts views are featured as the major selling point (in fact, the URL its official website is www.palaceviewhome.com), but the Palace's distinctive dome is pretty far off in the distance. The garage fits only one car. And while the Presidio is less than a block away in one direction, many, many lanes of traffic heading down 101 toward the Golden Gate are even closer in the other direction.
· 2622 Chestnut Street [Sotheby's International Realty]