Lest you mistakenly dismissed our bank owned at the Brannan post last month as an anomaly, enter 229 Brannan #3H. As an aside, it appears the pre-bank owner of #3H also lost 1522 Lake Street to the bank (but left the Brannan appliances intact).
∙ Listing: 229 Brannan #3H (1/1.5) – $669,000 [MLS]
∙ Latest San Francisco Listing Euphemism: “Unfinished” Versus Stripped [SocketSite]
∙ Bank Owned Hits The Brannan (239 Brannan #11E) [SocketSite]
Last month asking $800 psft for an appliance-less shell.
This month, asking $721 psft @ move in condition.
The trend is encouraging. The Brannan is one of the top South Beach properties. $721 psft isn’t going to do much for the comps within 5 miles, though, of course, “asking ain’t selling”.
The price is still outrageous. $699 for 1/1.5 with 937sq ft is ridiculous. Granted the Brannan is really nice, but with $780/month for HOAs, I would prefer something different like BLU.
And who wants to look out onto the courtyard/pool, I’d rather have a street view myself (more privacy depending on the floor).
Other values I like better:
Bridgeview #912
829 Folsom #214
Blu #2E
Palms #717
Metropolitan #1101
Anything decent at Infinity
Price is high, but this is the Brannan. Possibly the best “curb appeal” building and 1 of the best location for a condo development in South of Market.
Blu doesn’t even compare. Higher HOA’s with zero amenities. I’ve heard from people living over there that the stacker parking garage is also malfunctioning and they’ve asked people to not park larger cars in the system.
Bridgeview, 829 Folsom aren’t even close to the Brannan.
We’ve discussed about the Palms already in the past….
Met is a nice building but it’s on 1 street.
Infinity is nice but I think you can argue that Brannan/ Delancey Street is a better location.
Brannan is still one of my favorite buildings in South Beach!
still too much money
What do you think about Bridgeview #912? Better value than the one at the Brannan.
the kitchen looks like it might have enough counter space for a cutting board.
might.
@Gary-
Better value? Possibly since it’s a 2 bedroom compared to a 1 bedroom. It depends what you consider “value”
The Brannan is like the St. Regis.
Bridgeview is like the Westin on 3rd Street.
1 block away from each other but totally different properties. -They both work for whoever is the end user.
My problem with Bridgeview is Beale Street. I’m not a fan of walking under the freeway especially at night. The layout for #912 is nice and I like that it has some privacy. Dislike is the look and the exact location of the building.
You are right, it depends on what you consider “value”.
I would rather have a 2/2 in a slightly better than average building (with a decent view), than a smaller 1/1.5 in a better building with no view. Especially for rental considerations down the line.
I would not want the bridge noise or pollution… I like to open the windows sometimes…
Bridgeview architecturally is a bland building if you ask me and I don’t think it really compares well with the Brannan. The bridge noise and pollution as someone else mentioned is a big turn off too. I’d consider Infinity (challenged floor plans) and SFBLU (parking and lack of ammenities) despite the noted drawbacks. I’d also steer clear of 1 bedrooms in general, unless it’s a spacious 1 plus den.
Agreed that Bridgeview is bland architecturally, but depending on where the unit is in the building (this one is on the furthest point from the bridge), you get less pollution. In my view 2bd/2ba is better given those circumstances.
But like tipsy said, it depends on what you consider “value”.
Great building, great price.
Gosh can’t the listing agent FLUSH THE TOILET before taking a picture?
No surprise that there are more pics of the building on this listing than of the unit.
So lame when agents put so many pics of the bldg rather than the unit they are trying to sell.
The Brannan is like the St. Regis.
Really?
This is what the St. Regis is like? http://medialaxf.rapmls.com/sfarmls/listingpics/bigphoto/094/364794_06.jpg?tsp=20100107184609
Sold “as-is”? Yikes.
The list price for 229 Brannan #3H has been reduced $20,000 (3%), now asking $649,000.
So, when it sells, the PSFT for the Brannan falls into the 600s. Wowie!! The continuing declines are amazing to watch.
When it hits mid 400s psft, and it will, BUY!
I highly doubt it will reach anything below $550 psft. I guess anything is possible though, hitting $400 psft is probably a 3% chance. And at that level the market would have to completely destruct (including stock market, etc.), which is also unlikely.
Properties have been selling at much higher rates than many would have thought by now.
The list price for 229 Brannan #3H has been reduced once again, now asking $599,900 or $647 per square foot for the 927 square foor Brannan one bedroom with one and one-half baths.
“Properties have been selling at much higher rates than many would have thought by now.”
Apparently, not this one.
I’m willing to be that this unit will sell in the $600psft range, and not $400psft.
219 Brannan 1c reduced to $529k or $604psft.
Still too much considering the HOAs…I’d expect it to go at this price fairly quickly, but then again HOAs are high.
The sale of 229 Brannan #3H closed escrow yesterday with a reported contract price of $599,000 ($646 per square foot).