On the heels of the penthouse unit #504 atop the V20 building at 3590 20th having just resold for $2.5 million, up $261K (11.7 percent) versus its depreciated resale for $2.239 million in 2017 but still $95K (3.7 percent) below its sale for $2.595 million in mid-2015, an adjacent penthouse unit in the building has just resold as well.

Purchased for $2.595 million in mid-2015, the three-bedroom unit #505 traded for $2.0 million in mid-2018.

And having returned to the market priced at $2.395 million this past November, the resale of 3590 20th Street #505 has now closed escrow with a contract price of $2.25 million, up 12.5 percent from its depreciated sale in mid-2018 but still 13.3 percent below its mid-2015 value on an apples-to-apples basis.

Comments from Plugged-In Readers

  1. Posted by Adam

    In the midst of a spreading coronavirus epidemic, I have to wonder if having a medical clinic on the ground floor of the building would scare buyers away.

  2. Posted by observant neighbor

    So two identical (?) units which sold for the same price in 2015 have resold within a week of each other by prices that diverge by 10%. I guess that’s a decent indicator of the amount of latent price volatility in the market.

    • Posted by SocketSite

      While certainly similar, the units aren’t identical (while slightly smaller, unit #504 features arguably better views and outdoor space, with a corner rooftop deck), other than in having failed to re-fetch their 2015-era prices.

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