The sale of 214 Arguello Boulevard closed escrow this past Friday with a reported contract price of $1,137,500, just 5 percent under asking and an official two months on the market.
As we noted this past December, however, the Presidio Heights condo last sold for $1,600,000 in December 2007 (a drop of 29 percent). The property had been unable to find a buyer at an “unbelievable” $1,395,000 in 2008 and was subsequently taken back by the bank with no bidders on the courthouse steps at $1,259,306 in 2009.
∙ 214 Arguello: Two Years Later And Asking Twenty-Five Percent Less [SocketSite]
∙ Perhaps It’s The Market That’s More Unbelievable To Some… [SocketSite]
∙ An Absolutely Unbelievable Foreclosure As Well? (And Coming Soon) [SocketSite]