With one of the sophisticated South Beach condos at 750 Second Street, a boutique, LEED Gold Certified 14-unit building “in the immediate vicinity of our city’s sports complexes…and all the fabulous bars, restaurants, and cafes for which the area is so well known,” having traded for its 2013 price at the end of last year, prior to the pandemic, another three-bedroom in the building (#302) was listed for $2.4 million in February having been purchased for $2.175 million in July of 2013.

The “stylish city residence with superior architectural finishes” measures 2,096 square feet, with a private elevator entrance, an “open chef’s kitchen with top-of-the-line appliances,” multiple private balconies and deeded parking in the building’s garage.

And having been reduced to $2.3 million and then relisted anew in May, the re-sale of 750 Second Street #302 has now closed escrow with a contract price of $2.0 million, which is roughly 8 percent below its mid-2013 value on an apples-to-apples, versus “median price” or broadly “indexed,” basis.

Comments from Plugged-In Readers

  1. Posted by Condo Boy

    Stylish? more like soulless.

    • Posted by Anonymous

      It’s almost like aesthetics are subjective and agreeing or disagreeing doesn’t make you right.

    • Posted by oakland lover

      Oh man I so agree. That thing is awful.

      • Posted by tipster

        If you don’t like this place at $954/sqft, you can always head up to Pac Heights for a smaller condo with more character — for $933/sqft! And half the HOAs. 2886 Jackson, see name link. And don’t worry, they bought it in 2008 and can undercut everyone to whatever the market price is.

        • Posted by Conifer

          You are right. This is a delightful old complex, very SF, typical of its time, with charm. One does have to climb the stairs. Much better than the sterility of white boxes. One could buy this now as a first “step on the ladder” as the English say, and move up over the years, and spend a lifetime in the neighborhood. Like buying on Beacon Hill or the 7e arrondissement.

          • Posted by Conifer

            If someone starts here, perhaps in a number of years they can move around the corner and up the hill to 2889 Pacific which has a virtual visit on line showing what grand houses in Pacific Heights look like. Now let us hope it is bought by someone with respect for traditional architecture. Based on what we have seen over the years, some fool could come along, and tear out all that makes 2889 great, and turn it into “clean lines” and white paint.

        • Posted by Anonoly

          Ah yes, 2886 Jackson. Owners have unsuccessfully been trying to rent it out since late last year. Gave up and decided to list it for sale. Still on the market with an almost 10% cut. If this doesn’t tell you where the SF market is, nothing will.

  2. Posted by Mike L

    Wow does this even have views? I still think it’s about $1Million more than what they will be trading for in 8 -12 mos. 😉

  3. Posted by [JJBiddyBean]

    It would appear that all of the price depreciation is in the higher end (> 1 million) in that I am not seeing sub million 1-bedroom condos or studios selling for 2013/2014-era prices. Wonder if this is due to a price floor form all of the money printing and mortgage rate drops

    • Posted by Kyle S.

      Or just the natural tendency for the higher end of the market to suffer wilder price fluctuations?

    • Posted by ST

      Sub <1M drops too….just dropped less I guess, not back to 2013 price yet, but maybe back to 2016 price?

  4. Posted by Brian M

    How many “fabulous bars, restaurants and cafes” have already failed? And as COVID hits more baseball teams, even the abbreviated season will be killed. So, I imagine the survivors won’t last long.

    • Posted by sf

      Currently rental home shopping and hilarious to see ads exclaiming “near popular bars, shops, and restaurants!” Who is further detached from reality, the president or real estate agents?

      • Posted by Notcom

        Aren’t they , or rather, isn’t he one and the same ??

  5. Posted by The Milkshake of Despair

    This is how I’d prefer to see homes staged. Even from the photos I can imagine the furnishings.

    • Posted by Brahma (incensed renter)

      Lol! I am pretty sure that the Stagers Society of San Francisco can point you to an unbiased study showing conclusively that selling prices of units which are fully staged sell for a substantially higher price than those staged like the one depicted above.

  6. Posted by jimbo

    who would pay $2M for this? jesus, its a box

    • Posted by Brahma (incensed renter)

      If you want to see what a similar unit would look like properly staged with appropriate finishes for that exposed concrete, you can click the “2013 price at the end of last year” link above for pictures of what unit #502 looked like when it closed for $2.3 million or you can visit your favorite real estate listings source for pictures of #402, which is still on the market with an asking of $2.295.

  7. Posted by Wiger Toods

    If I’m not mistaken, Momo’s is slated for redevelopment. If so, say goodbye to the peek-a-boo view of the ballpark and morning sunlight on the rear deck

    • Posted by SocketSite

      While the Momo’s site is zoned for development for up to 105 feet in height, as it was in 2013, there are no plans on the boards or slated.

    • Posted by Dave

      It would be a shame to “blight” that quaint bit of open space by replacing it with a 10 story block. Hopefully that will never happen – surely, given the current conditions, Momo’s is probably “safe” for decades to come. At least the structure – some other business could eventually replace it.

  8. Posted by tipster

    Wow, TWO balconies, and a private elevator entrance?! And what a great blank slate to supply your own decor.

    And so much space! The kitchen is enormous, the washer and dryer are not stacked, there’s storage above them, and you have the entire space behind the elevator to use as extra storage. You aren’t going to see a unit this good for a long time. More windows than the average house.

    Sure, this is just getting started, but 2012 pricing is really not bad, all things considering. Condos are the leading indicator, for sure. 228 homes listed in the last 7 days, 108 sold. About half the listings and half the sales were SFRs. So add *another* week of inventory of SFRs and condos to the already huge pile: it just gets worse and worse!

    The seller is an executive at IBM in San Jose near retirement age, so this was just a weekend thing for him, and now that every thing to do is boarded up, HOA and property tax was just wasted money, and the sooner he got out of it the better. The buyer is a Lyft employee, who’s stock has traded down for the last 5 years, and his PhD in Dance significant other. They probably struggled to reach this number.

    And what did the realtors say on the way up? That’s the new reality and you’ll just have to get used to it. Yup.

    • Posted by NFSF

      This is such an odd comment.

      “Wow look at this great place! That I’m pretending I haven’t seen before! Also here’s a bunch of very detailed info about the seller and buyer”

      • Posted by Ohlone Californio

        Seriously, what an utra bizarre, poorly written, hypothetical comment. And this sort of comment that serves zilch other than snark gets no editorial rejoinder. Typical.

  9. Posted by Dave

    As they say about SOMA – there is no there, there. Despite the hype. And that was pre-Covid. Now, boarded up restaurants and businesses, no baseball or basketball and the probability that mask-wearing and social distancing will last for several years. Folks will get out and especially those who held theses places as weekend homes which per tipster may have been the case here.

    Someone above said that in a year this will be worth a million less. I doubt that. I do see a 15% plus drop in prices for SOMA condos from this point so, in a year, maybe it’ll fetch 1.7 million.

    • Posted by sf

      Uh, there’s no there there, anywhere right now.

      This is a great location full of outdoor recreational space, great access to public transit, great restaurants and Ferry Building market (when /if those ever open up again), and lots of life and good vibes from the baseball crowds (again, if / when things turn back to normal).

      I think you are just looking at things with agenda colored glasses.

      • Posted by haighter

        It’s funny to hear you say that about the baseball crowds. I used to live in this neighborhood, to be walking distance to Caltrain. I found the baseball crowds to be an annoyance to be endured! Obviously I knew I would be living a few blocks from a stadium but I didn’t see that as a plus (for myself, clearly others enjoy it). Overall though, I’m glad the stadium is so close to public transit.

        • Posted by sf

          It’s always fun to see the kids and families with excitement before and after the baseball games. But yes, sporting events also does attract the… less desirable too.

      • Posted by Kyle S.

        If the baseball crowds were a community-building asset, the restaurants and bars that opened up and down King St. to serve them wouldn’t have closed up shop well before the pandemic.

      • Posted by fogmachine

        I’ve lived in that ‘hood now for 20 years and it’s improved in most ways and gotten worse in a few.

        Depending on where you work it can be pretty good – there are a lot of high-tech jobs within a 20 minute walk, two Muni lines (once the Central Subway opens) nearby, a Safeway (Whole Foods is a hoof) plus a few small markets, and quite a few bars, restaurants, etc. But it is pretty quiet at night due I suspect to the number of empty pied-a-terres.

        The demographic seems to have gotten younger and more energetic over two decades and I don’t mind that at all.

  10. Posted by sockettome

    That drawing of the floor plan is way off scale – at least per the room sizes.

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