February 5, 2010

Apples To Apples To Apples (Plus Televisions) For 1606 Castro

Rebuilt in 2004 (after which it sold for $1,500,000), then resold in 2006 for $1,750,000, 1606 Castro is back on the market in 2010 and asking $1,875,000 (televisions included).

· Listing: 1606 Castro (3/3.5) - $1,875,000 [1606castro.com] [MLS]

Readers' Comments (0) | Permalink | Email Story | Filed under: Apples To Apples, Listings (for sale)

Book Concern Building (83 McAllister) Comes Back To Market As Well

Speaking of new developments now returning to the market, eight of the sixty units at the previously sold out Book Concern Building (83 McAllister) were just listed at prices ranging from $299,000 for the 261 square foot number 412 (asking $273,000 in December 2006) to $519,000 for the 678 square foot number 508.

· Listing: 83 McAllister #412 (0/1) - $299,000 [Redfin]
· Listing: 83 McAllister #508 (1/1) - $519,000 [Redfin]
· Symphony Towers Moves To Sell Twenty-Six Leased Leftover Units [SocketSite]
· Book Concern Building (83 McAllister) [SocketSite]
· Book Concern Building (83 McAllister): Update And Pricing [SocketSite]

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U.S. Unemployment Rate Declines To 9.7% (Yes, "Unexpectedly")

Last week initial jobless applications in the U.S. increased to 480,000 and those receiving extended benefits increased by about 242,000 (4%). Luckily the headline U.S. unemployment rate dropped to 9.7% in January.

· Perhaps At Some Point The "Unexpected" Shouldn't Be Quite So [SocketSite]
· Unemployment Rate Unexpectedly Declines to 9.7% [Bloomberg]

Readers' Comments (14) | Permalink | Email Story | Filed under: Trends

Could Julius’ Castle Become Your Own? (302 Greenwich For Sale)

Long seeking a new tenant since shutting down two years ago under allegations of landlord fraud, misrepresentation, and lease issues, a plugged-in tipster notes that 302 Greenwich (a.k.a. Julius’ Castle) is now on the market asking $4,950,000. From the listing:

Elegantly situated atop Telegraph Hill, the restaurant has long been a destination to visitors & locals alike drawn to the warm environment & magnificent bay views….Possible residential application.

Other than over the past two years of course. We’ll let you work out the price (or probability) for that possibility for San Francisco landmark number 121 on Telegraph Hill.

· Listing: 302 Greenwich (a.k.a. Julius' Castle) - $4,950,000 [Zephyr] [Map]
· A Happy Ending for San Francisco's Castle? [Preservation]

Readers' Comments (9) | Permalink | Email Story | Filed under: Bay Buildings, Commercial, Listings (for sale)

Symphony Towers Moves To Sell Twenty-Six Leased Leftover Units

While we broke the news last week with respect to Artani (818 Van Ness) unsuspending their sales efforts, apparently Symphony Towers is doing the same for 26 (out of 130) units they ended up leasing out over a year ago.

· Artani (818 Van Ness) Scoop Redux: Unsuspending Sales [SocketSite]
· Developers give condos second shot [Business Times]
· Symphony Towers Transitions To Their Second Movement (Rentals) [SocketSite]

Readers' Comments (20) | Permalink | Email Story | Filed under: Bay Buildings, Trends

February 4, 2010

A Smaller Lily Pad And Hayes Valley TIC Apple To Be Comp In 2008

We’d call it an apples to apples sale to be for 75 Lily #4, but while the sale price of $489,000 in April 2008 is reported on the MLS, it appears that the recorded selling ("75 Lily Street") and purchasing ("75 Lily Street") parties might have been one and the same.

Regardless, back on the market as of yesterday and asking $449,000 for the Hayes Valley one-bedroom TIC today. No mention of the address in the 2010 condo lottery results.

And yes, we know walls of books and earthquake zones aren't a great match, but we do have a soft spot for the look (albeit a little less so when careening towards one’s head).

· Listing: 75 Lily #4 (1/1) – $449,000 (TIC) [MLS]
· San Francisco's 2010 Condominium Conversion Lottery Results [SocketSite]

Readers' Comments (14) | Permalink | Email Story | Filed under: Listings (for sale), Seemingly Random

[Accepting Applications For Headline, Prince References Preferred]

Five months ago the Dow Jones Industrial Average crossed above ten thousand mark - a mark it first achieved in 1999 - for the first time in a year. Today, the Dow Jones Industrial Average crossed below the ten thousand mark for the first time in three months.

· Party Like It’s 1999: Dow Crosses 10,000 For The First Time In A Year [SocketSite]
· Perhaps At Some Point The "Unexpected" Shouldn't Be Quite So [SocketSite]

Readers' Comments (10) | Permalink | Email Story | Filed under: Trends

San Francisco's 2010 Condominium Conversion Lottery Results

As promised and originally reported, certified results for San Francisco's 2010 Condo Conversion Lottery are now online with the winners embeded above and the standby list embeded below.

We're keeping all related reader's comments on yesterday's post.

· It's Golden Ticket Day For 200 Condo Conversions In San Francisco [SocketSite]

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Top Floor Sir, Going Down (181 O’Farrell #513)

As we wrote in November with respect to Odeon (181 O’Farrell):

And then there’s the penthouse (#513) which was purchased for $2,000,000 in March 2007. An attempt to sell it off as a fractional over the past two years failed and it’s been the market as a whole for the past 172 days. Originally asking $2,349,000, it’s been three months at $2,099,000 with an owner that "says make an offer!!"

The Odeon penthouse is now back on the MLS with an "original" list price of $1,899,000 and an official 3 days on the market. You’ve got to love (or at least understand) those industry stats and Realtor reports.

· Listing: 181 O’Farrell #513 (3/2) 2,516 sqft - $1,899,000 [MLS]
· Oh My (And Bank Owned) At The Odeon On O’Farrell [SocketSite]

Readers' Comments (1) | Permalink | Email Story | Filed under: Apples To Apples, Listings (for sale), RealRecentReductions

Soma Grand (1160 Mission) Resale Comp And Stack Reduction

The resale of 1160 Mission #1407 closed escrow on 1/25/10 with a reported contract price of $640,000 ($5,000 under asking and $614 per square foot) for the 1,043 square foot two-bedroom at the Soma Grand.

Once again, while Soma Grand’s sales office appears to have sold the 1,031 square foot two-bedroom #1207 for $810,000 in August '08, they moved the 1,043 square foot #1507 for $645,000 in May '09. There is no thirteenth floor.

And while they were asking $785,000 for the 1,031 square foot #1907 in December, they’re now down to $699,000.

· Listing: 1160 Mission #1907 (2/2) 1,031 sqft - $699,000 [MLS]
· Four Sevens (And One Resale) At Soma Grand (1160 Mission) [SocketSite]

Readers' Comments (40) | Permalink | Email Story | Filed under: New Developments, RealRecentReductions