3500 19th Street Rendering

Listed for $2,800,000 this past November with Conditional Use authorization for a five-story building with 17 dwelling units, 17 parking spaces, and 2,958 square feet of retail, as a plugged-in tipster points out the undeveloped surface area parking lot at 3500 19th Street in the heart of the new Mission ended up selling for $1,700,000 on December 24.

3500 19th Street Lot (Image Source: MapJack.com)

We’ll keep you plugged-in as development (and design) progresses and note that building permits were originally filed for the undeveloped lot back in 2006.

UPDATE: A plugged-in reader adds, “$100k/dr is actually a pretty good comp for land transactions. It was around $50k/dr just about a year ago.”

Comments from Plugged-In Readers

  1. Posted by Homes R Us

    $100k/dr is actually a pretty good comp for land transactions. It was around $50k/dr just about a year ago. That list price was, umm, def a bit of wishful thinking…

  2. Posted by gellan

    Pretty bland design but it’s one less parking lot and added retail/commercial space for an already improved Valencia.

  3. Posted by observantneighbor

    As for neighborhood comps, 876 Capp St., a 4200 sqft lot b/t 23rd and 24th, zoned RH3, sold in 6/2009 for $630,000, or $210,000/dr. (The Capp St. units would be large, given the size of the lot, but the location is much less attractive than 19th & Valencia.)
    I’d be interested to hear from knowledgable readers what the estimated “city exaction per dr” is for such projects. I.e., both costs due to explicit exaction fees and BMR requirements, and costs due to permittig fees.

  4. Posted by cr

    Meanwhile the parking lot on 24th St., future site of the Noe Valley Town Square, roughly the same size and without conditional authorization for a building, is appraised for potential purchase by the city’s Open Spaces fund at $3 to $4 million?

  5. Posted by noearch

    Here we go again. The armchair design critics have assembled.
    How can you tell with just one birdseye digital rendering that the project is “pretty bland”?
    Even as an experienced architect, I can’t judge the project by one pic.

  6. Posted by gellan

    Here are a few more pics if anyone is interested…
    http://alainpinelsanfranciscorealestate.com/3500-19th-St-San-Francisco-CA~l2944417
    Love,
    the armchair design critic

  7. Posted by noearch

    Ok, a few more digital pics. Nothing scary. Nothing bland. Urbanista.
    Contextual, relevant, not a screaming drag queen look. decent, livable.
    Thanks, armchair design critic.
    love, noearch

  8. Posted by Missiondweller

    Used to live around the corner from here. Despite the cries of “gentrification” from the local hipsters I’ll be glad to see this lot developed into something useful.

  9. Posted by NoeNeighbor

    Oh, this is bland; it looks just like every other project being built.

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