Purchased for $5,000,000 in July 2000, 2775 Green returned to the market this past February asking $5,950,000. A sale at which would have represented average annual appreciation of 2% over the past nine years.
A week ago, however, the list price was “slashed!” (their words, not ours) by $700,000. A sale at the reduced asking of $5,250,000 would represent average annual appreciation of 0.6% over the past nine years for this prime Pacific Heights “French Renaissance” home.
We trust no truly plugged-in person will confuse a 2009 sale price at a near 2000 purchase price as values have effectively been holding steady since 2000 or 2001.
UPDATE: A plugged-in eddy is on a roll. Also available for rent and asking $15,000 per month. We’ll let you do the math (and figure out what happened to that other bathroom).
UPDATE: While the year 2000 sale at $5,000,000 stands, a plugged-in sleepiguy is correct about another sale with an undisclosed price in June 2004 (and some subsequent “fixing”) that we missed. Cheers.
∙ Listing: 2775 Green (5/4.5) 4,892 sqft – $5,250,000 [2775green.com] [MLS]
∙ $15000 / 5br – Dramatic!Fully Renovated 5brm; 3.5 ba; Fabulous Grdn & Dks [Craigslist]