Purchased as an empty shell atop the Ritz-Carlton Residences in San Francisco for $4.85 million in 2007, the co-founder of YouTube, Steve Chen, proceeded to have the 3,000-square-foot penthouse unit #2402 built-out as an überswank bachelor pad, the build out budget for which was estimated to have been nearly as much as the shell.

Having gotten married, had kids and moved to the Peninsula, the two-level penthouse was put on the market and priced at $8 million in 2012 but never traded hands.

And today, 690 Market Street #2402 is now officially back on the market with a $5.95 million price tag.

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Comments from “Plugged-In” Readers

  1. Posted by MKP

    views are not great, and the ceilings are too low. not impressed.

    • Posted by two beers

      Maybe you’re not impressed with this uberswank bachelor pad, but I find the $3 million loss (including buildout and assuming no further haircuts…) to be truly impressive!

      • Posted by SFRealist

        Wikipedia says the guy is worth $300M. This may not be at the top of his concerns.

        At least some of his money made it to contractors.

      • Posted by SFrentier

        Yeah, a lot of his money went to working class contractors…you should be pleased 2B’s!

  2. Posted by steve

    casework looks gorgeous. does anyone recognize the kitchen cabinet manufacturer?

  3. Posted by SFMichael

    I’m not seeing the ~$4.5MM in the finishings.

    I mean the carpet in the living room does look like it’s top quality, and the place does look like has speakers built into the ceiling all through, and that staircase and the wall next to it look nice (and pricy) … but nearly as much as $4.85 million in 2007 dollars?

  4. Posted by The Milkshake of Despair

    What’s the deal with the extra large “electrical closet” on the upper level? Most home’s electrical needs are satisfied by a breaker panel about the size of bathroom medicine cabinet. That space seems to serve the function of a secondary exit hall.

    [Editor’s Note: This pic might help shed some light on your closet conundrum.]

    • Posted by anon2.5

      A ridiculous number of AVRs

    • Posted by jwb

      Really highlights the advantages of scratch construction! Good luck itegrating 60+ channels of multiroom audio into an existing finished interior.

    • Posted by The Milkshake of Despair

      Holy smokes, somebody’s got a major hobby. A better and cheaper solution is to just get a big fat fiber WAN connection and subscribe every media streaming service out there. It won’t be obsolete in five years either.

      • Posted by Amewsed

        He spent major $$$$ on that. I had been quoted a min. of mid-five figures to install built in speakers and wiring system several years ago. I passed on it because it seemed like a waste of money. Now everything is wireless and you could get high quality pieces for much less than the costs of hard wiring.

        • Posted by shza

          Wireless speaker quality is still not anywhere near what you get with wired.

          • Posted by Amewsed

            Agreed but I do not require that level of excellence.

  5. Posted by Amewsed

    I like this location better than other condos in SOMA. You are on Market @ Kearny and you can easily walk to the financial district and very close by the BART and MUNI subway lines. Walk to shopping at Powell or Union Square. Lots of restaurants nearby.

    Good for someone working in the city in this neighborhood and who does a fair amount of client entertaining.

  6. Posted by Footie

    That wine storage divider is god awful.

  7. Posted by yeech

    OMG that dining room table looks like something from a soda bar. Is that really where guests eat? Perhaps the ping pong table can double as a sit down dinner area?

  8. Posted by Dixon Hill

    The interior needs more white.

  9. Posted by shza

    I don’t “get” the sink in the kitchen island. Too small to fit a dish or anything in, so its main function would seem to be as a pot-filler — in which case, why not put that over the range? Or is it just a filtered water source for drinking? In either event, why put it on the island, with a sink under it, rather than having it come out of a wall?

    • Posted by Wutang Clan SF

      Sink is ADA

      • Posted by shza

        Thanks, but why? There is already a real kitchen sink right across from it, in the counter.

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