As we first outlined back in May, the rather spectacular new building at 15-17 Guy Place, which replaced a little single-family home, hit the market priced at $15 million in March of 2021, positioned as an “almost 8,000-square-foot, seven-level residence,” with a 5,115-square-foot, 5-bedroom main residence (17 Guy Place) over an 1,870-square-foot, 2-bedroom guest residence (15 Guy Place), multiple terraces, and a garage for one car.
“Located amongst San Francisco’s most prestigious luxury towers and residences and in one of city’s most dynamic and oldest neighborhoods, Rincon Hill,” the residences are finished in white oak, with a sweeping central staircase (and elevator), Calacatta marble, and a sky terrace (with panoramic views, an outdoor kitchen, and plumbing for a hot tub) atop it all.
Relisted for $13.888 million in August of last year, the asking price for “Guy Place” was reduced to $12.49 million last September and then to $10.999 million a year ago next month.
Relisted anew for $10.999 million at the beginning of this year and then reduced to $9.75 million in mid-January, 15 Guy Place was then listed by itself for $2.995 million at the end of March, followed by an $8.75 million listing for 17 Guy Place a few days later.
Reduced to $7.95 million in mid-April, to $7.45 million in early May and then to $6.995 million later that month, the asking price for 17 Guy Place was then dropped to $6.2 million in July, at which point the list price for 15 Guy Place was increased to $3.95 million but then dropped to $3.8 million.
And with the listing for 15 Guy Place having since been withdrawn from the MLS without a reported sale, the list price for 17 Guy Place has just dropped t0 $5.85 million, a sale at which would be considered to be “at asking” according to all industry stats and aggregate reports despite a nearly 36 percent drop in pricing/expectations for Guy Place as a whole.
If you think you know the market for high-end residences, urban compounds, and one of city’s most dynamic and oldest neighborhoods, here’s another chance to tell.
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