February 8, 2010
Design Matters Damn It (As Do Views): 3975 19th Street Sells
The sale of 3975 19th Street closed escrow today with a reported contract price of $2,360,000, 3 percent over its asking of $2,295,000 and either $890 or $955 per square foot depending upon how you measure (inside or outside the walls).
Once again, the lower half (or closer to third) of the building sold for $1,650,000 or $1,097 per square foot two years ago.
Don't forget those invitations to the housewarming. We're calling dibs on that bed. Or on second thought, the studio.
∙ The Top Half Comes To Market Two Years Later (3975 19th Street) [SocketSite]
∙ Murphy Bed 2.0 (Rodgers Architecture Style) [SocketSite]
Readers' Comments (16) | Permalink | Email Story | Filed under: Design & Architecture
More Mortgage "Mumbo" Jumbo: Serious Delinquencies Increase
"U.S. prime jumbo mortgages at least 60 days late backing securities reached 9.6 percent in January from 9.2 percent in December, the 32nd straight increase for "serious delinquencies"...[but the] share of borrowers current the previous month and that then turned delinquent fell to 1.2 percent in the month covered by January bond reports, down from 1.3 percent as of December reports, Fitch said. The jumbo sector of the non-agency market was the only one in which so-called roll rates -- or the amount of loans turning delinquent -- rose from a year ago, according to the statement."
∙ Jumbo Mortgage ‘Serious Delinquencies’ Rise to 9.6% [Bloomberg]
Readers' Comments (5) | Permalink | Email Story | Filed under: Just Quotes (Emphasis Added), Trends
365 Fulton (AKA Parcel G) Design Evolved, Site Work Commences
Site work has commenced at 365 Fulton (a.k.a. "Central Freeway Parcel G").
Parcel G will be a five story development including 120 studio units of housing for extremely low income, formerly chronically homeless individuals, located at the corner of Fulton & Gough streets.
The building also includes approximately 2,680 square feet of ground floor retail commercial space, approximately 2,500 square feet of common space and 2,000 square feet of social service program space.
Additionally there is approximately 9,000 square feet of open courtyard and roof deck open space area.
The David Baker + Partners design preserves views of the existing mural from the courtyard, through the lobby on Fulton, and from the street on Gough. No parking (except for bikes). And the yellow was a (nice) post-community input added touch.
Expect completion in the summer/fall of 2011.
∙ Development Summary Form: MHSA Housing Program Parcel G [sfdph.org]
∙ RFPs For Housing Along Octavia Boulevard [SocketSite]
∙ David Baker + Partners Parcel G Design [dbarchitect.com]
Readers' Comments (6) | Permalink | Email Story | Filed under: Design & Architecture, Neighborhoods, New Developments
Going Short Heritage On Fillmore (1310 Fillmore) Having Bought Long
Asking "in the $900’s" for the five three-bedrooms at Heritage on Fillmore (1310 Fillmore) in December 2006, number 802 sold in November 2007 and sports a tax assessed value of $993,953 (which would suggest a sale price "in the $950’s").
First listed as a proposed short sale at $765,000 seven days ago, 1310 Fillmore #802's proposed short sale price was reduced to $665,000 three days later. No mention, however, of the sale price being pre-approved.
At the same time, the two-bedroom Heritage on Fillmore number 803 is now a proposed short sale "waiting for lender’s approval." Purchased for $810,000 in June 2007, first listed as a resale in September 2008, and now seeking a short sale at $649,000.
∙ Listing: 1310 Fillmore #802 (3/2) 1,407 sqft – "$665,000" [Redfin]
∙ Listing: 1310 Fillmore #803 (2/2) 1,115 sqft – "$649,000" [MLS]
∙ Heritage On Fillmore: The VIP Scoop [SocketSite]
Readers' Comments (9) | Permalink | Email Story | Filed under: Bay Buildings, Listings (for sale), RealRecentReductions
Parking Space Trivia (And Spoiler): 441,541 Spaces In San Francisco
San Francisco’s first ever parking space inventory totaled 441,541 on-street, off-street, paid or free parking spaces in the city. Unwarranted spaces not included we're guessing.
Also mentioned in the Mayor’s weekly YouTube address this past Friday: Federal funds of $20 million for San Francisco’s Central Subway, $15 million for Bus Rapid Transit (BRT), and a nod to San Francisco’s Jobs Now! program.
∙ Mayor Newsom's YouTube Update: Feb. 5, 2010 [YouTube]
∙ Coming Soon: Guidelines For Tending Concrete Gardens Out Front [SocketSite]
∙ San Francisco's Central Subway: Make That 2018 And An Extra $278M [SocketSite]
∙ JOBS NOW! Information [sfhsa.org]
Readers' Comments (4) | Permalink | Email Story | Filed under: Seemingly Random
111 Hoffman Closes Over Asking But 29 Percent Under Its 2005 Price
Purchased for $2,100,000 at the end of August 2005, 111 Hoffman ended up being taken back by the bank in September 2009 without an opening bid of $1,533,000 on the courthouse steps. It then returned to the market in December asking $1,469,250.
This past Friday, the sale of the Noe Valley single-family home closed escrow for a reported $1,500,000 ($566 per square foot), 3% over asking but 29% under its sale price in 2005.
∙ Another Bank-Owned Multi-Million Dollar (In 2005) Noe Valley House [SocketSite]
∙ Bank Owned In Noe: Is There (Another) Doctor In the House? [SocketSite]
Readers' Comments (19) | Permalink | Email Story | Filed under: Apples To Apples
February 5, 2010
A Favorite Soma Grand (Not From The Fifth Floor) Penthouse View
While the Craigslist post identifies this Soma Grand (1160 Mission) unit as #501, as a plugged-in reader notes, we’re pretty sure the penthouse level isn’t on the fifth floor. And the pictured "top floor" unit number actually starts with a 22.
If you like cityscapes and San Francisco's Federal Building (which we do), however, the pictured unit is situated atop one of our favorite stacks in the building. But as far as we know it's not currently for sale.
And don’t forget, only the top two floors at Soma Grand offer air conditioning (and gas).
UPDATE (2/6): The Craislist post for 1160 Mission St #501 has been updated to reflect the interior and views of #501 (versus that pictured above). The reference to it being a "top floor" unit has also been removed.
∙ $800000 / 2br - OPEN SUN 2/7/10...SOMA Grand: 1160 Mission St #501 [Craigslist]
∙ Soma Grand (1160 Mission) Resale Comp And Stack Reduction [SocketSite]
∙ Soma Grand (1160 Mission): Status And Sales Update [SocketSite]
Readers' Comments (37) | Permalink | Email Story | Filed under: Bay Buildings, Listings (for sale)
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 (13) | 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]
Readers' Comments (7) | Permalink | Email Story | Filed under: Bay Buildings, Listings (for sale)
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 (16) | Permalink | Email Story | Filed under: Trends
