Telegraph Hill's Villa de Martini Finally Sells for $9.998M

It has been well over a year since we first marveled at the Tesla charger and $16 million price of Villa de Martini, a Mediterranean-style home atop Telegraph Hill. The four-bedroom home's sprawling gardens filled with lemon trees and roses didn't seem to make much of an impression on buyers, however, because the villa languished on the market and underwent three price chops, landing at $11 million back in May. The villa finally sold late last week, but it tumbled out of the eight-figure club with a $9.98 sales price, more than $6 million below its original ask.

Villa de Martini was always looking for an extremely high per-square-foot price, and even after all the price chops it still brought in $1,621 per square. The new owner will get an estate that is loaded to the hilt with palazzo-style ceilings, travertine patios, Venetian hand-plastered walls, and stone carvings. It also comes with a motor court designed to be tented for parties—the perfect place to hold one big fancy housewarming?

· Telegraph Hill Home Lists for $16M, Has Tesla Charging Station [Curbed SF]
· Elaborate Telegraph Hill Villa Drops $2M, Clings to Dignity [Curbed SF]
&$183; 298 Chestnut Street [Official Site]