As we outlined at the end of 2017:

Purchased for $1.2 million or roughly $1,136 per square foot in January 2016, the 1,056-square-foot one-bedroom condo #1212 within Gramercy Towers at 1177 California Street returned to the market priced at $1.275 million this past July, a sale at which would have represented total appreciation of 6.3 percent since the end of 2015.

Reduced to $1.199 million in September, the sale of the remodeled apartment with sweeping views and a designated parking spot below has now closed escrow with an apples-to-apples contract price of $1.1 million or roughly $1,042 per square foot, representing total depreciation of 8.3 percent over the past two years for the Nob Hill condo with views.

And having returned to the market priced at $1.295 million earlier this year, the resale of 1177 California #1212 has just closed escrow with a contract price of $1.195 million, up 7.9 percent from the end of 2017 and back to within a percent of its value at the end of 2015 / start of 2016 on an apples-to-apples basis.

Comments from Plugged-In Readers

  1. Posted by Jeffrey W. Baker

    An 1100-square-foot 1bd/1ba? How civilized. I wish they would build them like that again.

  2. Posted by L'UrbanistaSF

    The steakhouse downstairs is decent.

  3. Posted by PH moi

    The monthly HOA dues of $1,092 are a buzzkill tho

    • Posted by SocketSite

      Keep in mind that said HOA dues include a 24-hour doorman, health club access, parking, electricity, water, heat, garbage, cable TV, internet, earthquake insurance and window washing as well.

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