Word on the street is that Sierra Heights (25-75 Sierra Street) should start closing escrow on condos this week with a temporary certificate of occupancy in hand. Assuming all units with depositis close, the development will be about 80% sold (we’ve heard 14 out of 67 condos remain available).
On a related note, unit #104 recently returned to the market. And while we desperately want to say something nice, about the best we can muster this morning is: $290/sqft.
∙ New Developments: Sierra Heights [SocketSite]
∙ Listing: 25 Sierra Street #104 (3/3) – $999,000 [Zephyr] [MLS]
come on Socket, that’s a cheap shot! It is an exceptionally large unit ( >3,500 sq fr) in a challenging location, so overall almost $300 /ft is not to bad really.Have your latte and you will feel a little more chipper!
Err, challenging location. Up the hill – projects. Down the hill – the freeway and the train. Help me try to find a positive to this. What happened to the concept of location, location, location.
When the market declines, these will fall like a lead brick.
Damn it, that’s what we get for trying to be nice (or perhaps not having our lattes).
To be honest, what we really find challenging with #104 is the layout and use of space on the second floor, the fishbowl feel of the living space on the first floor without any buffer to the courtyard, and one parking space for a three bedroom in this location.
That being said, sub $300/sqft is ridiculously cheap if you like the space.
It is a lot of square footage for the $, but it’s so … bland.
Ugly as sin.
Kristian, I’m a little dissapointed by your comments because you’re making me feel worse about my purchase. Though I got one of the cheaper units in the 600s (hey do bay views matter?). Hopefully these prices won’t drop like a brick but like a light feather never goes down but only up or else I’m in trouble.
looks like 104 is back in contract. having laid eyes on this unit in person, the pictures don’t quite do it justice. the layout is weird, but the space is much nicer than the pictures would indicate. the price is bargain basement for that much space, and based on my tour of it, it isn’t a bad price. its hard to find a condo in SF with 3000+ sq ft, though you might argue its just as hard to find someone in SF who needs or wants that much space…
Looks like No. 104 at the Sierra is scheduled to close escrow on September 30.
and it went for over the list price…
For the record, here are photos of the Sierra Heights condos under development:
http://leblog.exuberance.com/2005/08/huge_condo_proj.html