Having hit the market priced at $1.75 million in July of last year, a sale at which would have equaled the price which was paid for the modern Mid-Market unit back in the fourth quarter of 2014, the list price for 10 Mint Plaza #5, a full-floor conversion loft with exposed beams, eleven foot ceilings, high-end finishes, air conditioning and a deeded parking space below, was subsequently reduced down to $1.575 million at the end of last year.

At the end of last week, the unit was re-listed anew with a $1.5 million price tag. As such, the unit has officially only been on the market for “5 days” according to all industry stats and aggregate reports.

And while a contract price of $1.5 million would now be considered to be “at asking” as well, it would represent a 14.3 percent drop in value for the modern unit on an apples-to-apples basis since the fourth quarter of 2014.

Keep in mind that unit #1 at 10 Mint Plaza fetched 5 percent below its 2014 price back in mid-2017.

UPDATE: The sale of 10 Mint Plaza #5 ended up closing escrow in October with a contract price of $1,458,500, down 16.7 percent versus the fourth quarter of 2014 on an apples-to-apples basis.

12 thoughts on “Modern Loft Now Listed for 14 Percent below its 2014 Price”
  1. Am I misreading the photos and the floorplan or is the first thing you see when you enter the unit is a full view of the second bathroom through the shower stall?

    1. Well that’s OK: they make up for the ‘peep show’ shower with an “Ultra-private master bedroom suite” – whatever that is – tho I would think that if you do indeed use the “bonus” room for guests, then that large sliding door between the two would lessen the privacy
      🙂

  2. I would not be interested, just because of the pathetic placement of the toilet right next to the tub. That is so slum like and paying 1.5 million for such a obvious design flaw, is out of the question.

  3. Would love to see a post (apples to apples) on our favorite new construction properties in the mission district.

    3500 19th st #307 just closed at 2.1, after being listed at 1.895 (below its previous sale price)
    Apples comparison sale oct 24 , 2016 at 1.93

    If there’s more to the story, would love to know

  4. This place is a bit grim. I once visited my girlfriends family in Perm, Russia. Similar feeling……just a lot bigger

  5. I bought a condo in 2014 and I remember our realtor walking us through this building talking about all the great development that was going to happen to gentrify the neighborhood. So glad I stayed away

  6. Stunning loss on this. Just stunning, like below a 2013 price.

    [Editor’s Note: The sale of 10 Mint Plaza #5 ended up closing escrow on October 18 with a contract price of $1,458,500, down 16.7 percent versus the fourth quarter of 2014 on an apples-to-apples basis.]

Leave a Reply

Your email address will not be published. Required fields are marked *