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See inside San Francisco penthouse that just slashed its price by $5M

San Francisco's northern skyline is visible from several windows in a nook lined with soft gray couch seating and two small tables.
Panoramic views fill the windows of a penthouse apartment at 2000 Washington St. in San Francisco’s Pacific Heights neighborhood. | Source: Jacob Elliott

A sprawling, two-level penthouse with sweeping views of the Golden Gate Bridge, Alcatraz and Russian Hill has slashed its list price by a whopping $5 million in an apparent effort to finally close its sale after more than a year on the market.

The news of the listing's price cut comes as Redfin recently released data that shows San Francisco homeowners are selling their properties at a loss at the highest rate of any major metro in the country.

Data from the residential real estate firm shows that 13.57% of San Francisco metro home sellers sold their properties at a loss—nearly double the 6.92% figure in Detroit, the city in second place. 

Among those who lost money selling their homes in San Francisco, the average loss was $122,500.

A panoramic view with a cityscape and distant hills beyond bay waters fills windows beside a round table with a glass bowl atop it surrounded by four soft cushioned dark wood chairs
San Francisco's northern skyline, including the Golden Gate Bridge, is visible from several windows inside the penthouse. | Source: Jacob Elliott

The Pacific Heights penthouse was first listed at $25 million in May last year by Sotheby’s International Realty–San Francisco Brokerage. It was re-listed on Oct. 17 at $19.9 million and drew attention in Robb Report this week.

Two windows with chairs and a vase full of flowers nearby boast raised curtains allowing sunlight into a bedroom with a single large bed next to a small round end table. A bedroom boasts walk-in closets, sun-filled windows and dark wood floors at a San Francisco penthouse.
A bedroom boasts walk-in closets, sun-filled windows and dark wood floors at a San Francisco penthouse in Pacific Heights. | Source: Jacob Elliott

The two-level, four-bedroom, six-bathroom property built in 1922 ranked third among the city's most expensive properties when The Standard wrote about it in July 2022.

READ MORE: The Standard Top 10: San Francisco’s Most Expensive Home Sales of 2022

Listings on Compass and Zillow for the property estimate that mortgage payments could run $114,327 per month on a 30-year fixed loan at 7.25% interest (given a $3.98 million down payment), on top of a $5,725 per month homeowners association (HOA) fee. 

Arched doorways and paneled walls with columns carved into surfaces stand out in a hallway with a staircase.
White walls and dark wood accent a staircase and flooring between the two floors of the penthouse apartment on Washington Street in San Francisco. | Source: Jacob Elliott

Both listings note an award-winning design by architect Andrew Skurman, describing it as "a sweeping suite of grand yet elegant entertaining rooms from entrance gallery to living room, family room, expansive kitchen & formal dining room" with "white fluted pilasters, rosettes, high ceilings, and arches in enfilade make a definitively classical statement, yet convey a modern feeling of openness."

A kitchen with countertop, sink and island is visible next to an arched doorway leading to a living room.
A high-ceilinged kitchen with hanging glass lamp fixtures and a marble-topped kitchen island connects to a living room area at the penthouse apartment in San Francisco. | Source: Jacob Elliott

The main and three guest bedrooms each come with marble baths. The listing describes a staircase leading to an upper home-office space with "soaring ceilings, a wet bar, powder bath, fitness room and large, landscaped North Bay view terrace."

The property also features "two-car parking, an attended lobby, and professional residential management."

An arched entryway leads into a white-painted wooden-floored hall.
A wooden-floored hallway boasts ornate arches and interior illumination at 2000 Washington St. in San Francisco's Pacific Heights neighborhood. | Source: Jacob Elliott

In other notable recent San Francisco real estate price cuts, a two-bedroom, two-bath condo at 900 Bush St., just blocks north of the city’s notorious Tenderloin neighborhood, could have been yours for $399,000. That’s 47% less than when it was first listed just four months ago at $758,000—the sale is now listed as pending. That listing went viral on X.

In October, the value of a high-rise luxury Downtown San Francisco apartment building also dropped by half.