The Millennium Tower’s most expensive condo unit, Unit 401, has just closed escrow at a selling price of $4.66 million – over $1 million under its initial asking price.

The four-bedroom, 3,814-square-foot unit is made up of two adjacent units in the tower’s mid-rise component, also known as the City Residences. The unit was initially purchased for $5.3 million in May 2014, and then placed on the market for $5.99 million in March 2017, shortly after the San Francisco condo tower was discovered to be sinking and tilting. Over the next year, the unit was re-priced, then taken off the market, then re-listed for $4.99 million and sold at $4.66 million.

The Millennium Tower has sunk 17 inches and leaned 14 inches to the northwest since its construction. The tower’s units sold for an average of $1.8 million during its initial sales period.

The unit isn't the first in the troubled tower to see a major dip in value during resale — in mid-December, the two-bedroom, three-bathroom unit #48B sold for a 30 percent loss, bringing in $2.99 million. It had previously sold for $4.25 million in November 2013.

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