1240-44 5th Avenue (www.SocketSite.com)
The “$2.4 million San Francisco dream home raffle” grand prize (1240 5th Avenue), which the winner of the raffle turned down in exchange for $1.8 million in cash, is back on the MLS.
Last listed for $2,280,000 before being withdrawn prior to the raffle, and originally asking $2,389,000 this past September, they’re asking $2,100,000 for the “$2.4 million dream home” today.
As we wrote in March: “We can’t argue with the Yerba Buena cause, but the market might argue with that “$2.4 million” valuation.”
∙ Listing: 1240 5th Avenue (6/6.5) – $2,100,000 [MLS]
Can’t Sell? Raffle! 1240 5th Avenue: The “San Francisco Dream House” [SocketSite]
1240 5th Avenue: Raffle Winner Chooses Reality Over The Dream [SocketSite]

Comments from Plugged-In Readers

  1. Posted by insidesfre

    I think the $2.1M list price is a tad high for the location (close to Lincoln, noisy) and current market. Target demo is obviously a family, but most families don’t want their kids potentially wandering over to multiple lanes of traffic half a block away. The lack of a nice yard is also a downside (though the cottage can be a nice playhouse). Developer spared no expense on high-gloss flooring, and they really maxed out the lot in every direction. We’ll see.

  2. Posted by SocketSite

    The sale of 1240 5th Avenue closed escrow on 11/13 but with what appears to be a “confidential” sale price on the MLS.

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