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May 11, 2011

Greenwich Penthouse Sellers Seem Realistic


Situated at the corner of Greenwich and Van Ness in Cow Hollow, The Greenwich is one of my favorite new construction buildings erected over the past few years. Built in 2008, the 23-unit luxury condo property sold out relatively quickly. And there hasn’t been much turnover since.

So let’s welcome penthouse unit #601 to the market. The 3BR/2.5BA, 1600-square foot unit has an excellent open floor plan, eleven-foot vaulted ceilings, a master suite (and a bedroom) with a fireplace, a private tiled view roof deck and two-car parking.

Sold for $1,875,000 in May 2008, the property is now being offered at $1,795,000. Let’s applaud these sellers for recognizing that the word “appreciation” won’t apply if they just purchased their unit only three years ago. A lot’s happened in the market since 2008, and it’s mandatory to be reasonable if you’re a seller in 2011.

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