Purchased for $2,100,000 in February 2008 and with permits to excavate, expand, and remodel issued in 2010, the “A+ property” at 444 Roosevelt Way returned to the market as a semi-gutted “Development Opportunity with Fabulous Potential” listed for $1,750,000.
On Friday, the resale of 444 Roosevelt Way closed escrow with a reported contract price of $1,300,000, twenty-six (26) percent under original list and thirty-eight (38) percent below its pre-gutted sale price in 2008.
At the same time, 438 Roosevelt has returned to the market once again listed for $2,495,000 having been purchased for $2,275,000 in 2002 and having been listed for $2,995,000 in 2007.
∙ A Gut Check For 444 Roosevelt Way [SocketSite]
∙ Listing: 438 Roosevelt Way (2/2.5) – $2,495,000 [MLS]
∙ The Green Is Gone At 438 Roosevelt [SocketSite]
∙ More Monday Morning Modern (Or Is It Contemporary?) [SocketSite]
* purchased for $2,100,000 in February 2008
* closed escrow for $1,300,000
* 38% below its 2008 sale price
38% below its 2008 price is fantastic (from $2.1M to $1.3M).
we’re seeing some nice price cuts in the last couple of weeks.
i misread, it’s not an apple. 2008 price was pre-gut. 2011 price is semi-gut.
Man, the house number alone kills it.
Even thought I’m not Chinese, the number ‘444’ creeps me out….
Here is a little place nearby that just sold for 8% less than its 2003 price and just a tad over its 2000 price (and it looks like it was re-done after the 2003 sale):
http://www.redfin.com/CA/San-Francisco/3066-Market-St-94114/home/1486171
Pretty prime area for hits like these.
And they painted 438 teal why?
Re “teal” See the sitee above “the green is gone….” which shows the current boring beige color. The teal color actually was great as it matched the contemporary style and was quite striking as one came around the curve on Roosevelt Way.