765 Market #22A Shell

Asking $5.95 million at the end of 2014, the 2,757-square-foot unit #22A on the twenty-second floor of the Four Seasons Residences was subsequently gutted and reduced to a shell following its approval to be merged with the adjacent unit #22B and create a 3,600-square-foot “super unit”. And its price was reduced to $4.85 million as well.

Further reduced to $3.9 million five months ago and then delisted in May, 765 Market Street #22A, which was purchased for $3.42 million in 2006, has just been listed anew for $3.5 million with an official “1” day on the market according to industry stats.

The adjacent unit #22B, which hasn’t been gutted, was withdrawn from the MLS in May without a reported sale despite having been reduced to $1.45 million, including all furnishings, electronics and even dishes, earlier this year. The unit was purchased for $1.75 million in 2008.

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Comments from “Plugged-In” Readers

  1. Posted by Ohmy

    Is that the side of the building which will have its views blocked by the proposed tower?

  2. Posted by Dave

    Didn’t this come onto the market years before Rincon Hill and the Mission Bay/King Street condo developments?

    In that context and given the new list price being not much more than the 2006, perhaps what once was one of the few new hi-rise condo projects and worth relatively more because of that is no longer so desirable? Compared to the newer developments.

    If I wanted to live downtown and in a mid-rise or hi-rise, I’d choose the SOMA area and not here.

    As I recall, the street level experience last time I passed by was not enticing. The large plaza had no artwork or water features and was windy and shaded.

    • Posted by anon

      “once was one of the few new hi-rise condo projects and worth relatively more because of that is no longer so desirable?”

      Worth pondering how unusual this type of situation really is. Is what’s new and hot in 2016 still going to be new and hot in 2026?

      That’s one reason why the median price isn’t a good measure of realized appreciation and why ‘waiting out’ a housing cycle can be problematic.

      • Posted by Dave

        Good question. It is more than just “new and hot” alone I’d bet. The Golden Gateway towers and townhomes are 40 years old or thereabouts. I’d much prefer living in the GG than here. I wonder what the GG non-rentals were selling for in 2006? Have they remained flat too?

        • Posted by jj

          I love this area, it’s got great street life and density for those what want the downtown urban energized feel. I love the canyon of towers visible outside the windows in this area. The walkability is great too, its fun to cut through all the walkways, alleys, and sidewalks nearby.

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