CFAH

255 Berry Courtyard
We couldn’t help but notice that 255 Berry #513 is now in contract, and that #317 has been reduced another $24,000 (a total reduction of $100,000). In addition, four new units (#116, #401, #414, and #610) have been added to the MLS since our last update (7% of the building is now “Active”).
More “Pseudo-Omniscient Pretense” (And 255 Berry) [SocketSite]
∙ Listing: 255 Berry Street #317 (2/2.5) – $1,225,000 [McGuire]
∙ Listing: 255 Berry Street #116 (3/3) – $1,299,000 [McGuire]
∙ Listing: 255 Berry Street #401 (2/2) – $1,029,000 [MLS]
∙ Listing: 255 Berry Street #414 (2/2) – $949,000 [MLS]
∙ Listing: 255 Berry Street #610 (3/2.5) – $1,950,000 [Pacific Union]

Comments from Plugged-In Readers

  1. Posted by Dude

    Wow, a full 7.5% reduction. Using traditional mortgage standards (20% down, 30 yr. fixed loan), you’d only need $245K in cash and an annual salary of $300K/year to buy this.

  2. Posted by Christopher Dardozzi

    Having been out of town I hadn’t seen your reference to my earlier comments regarding your ‘pseudo-blah,blah,blah.’ My point was you were comparing apples to oranges without any knowledge of the units strictly for dramatic effect. Whether it’s a trough or a sewer line there are still many people who would prefer to sit on their decks and look at the ‘water,’ rather than a patch of sod and some concrete. In any event I’m glad you got some mileage out of my original posting.

  3. Posted by Anonymous

    I think everybody is trying to get out before all their views are blocked by the surrounding developments.

  4. Posted by curmudgeon

    No one’s views will be blocked. There’s Mission Creek on one side, Caltrain on the other. This isn’t Rincon Hill….

  5. Posted by MissionBayFan

    255 Berry, 235 Berry, and 325 Berry sits on the channel. The channel is surrounded by Mission Creek park on either side of the channel. So the channel / park view will never be blocked.
    The 6th and 7th floor of the building may see taller building next to the waterfront, but you can still see the entire bay.
    I think people are just trying to take profit. The same thing is happening all over South Beach and Mission Bay.
    If you are a contrarian => A flood of inventory => resales price correction => good time to think about buying???

  6. Posted by Anonymous

    curmudgeon – there is currently an empty lot between 255/235 Berry and the Caltrain yard which will most likely be developed and change the views for units that face North.

  7. Posted by Anonymous

    Aren’t the views to the East and West already blocked by 235 Berry and 325 Berry? Aren’t they already in the process of developing the lot to the North of 255 Berry? Isn’t the channel the only view left for the South facing units?

  8. Posted by SocketSite

    Christopher – we completely agree with your point about an “apples to oranges” comparison of waterfront versus non-waterfront views, and believe it or not, we were being sincere with our “rookie mistake on our part” statement. We’re not trying to be dramatic in our reporting, simply honest, informative, and insightful about what’s really going on in the local real estate market.
    And as far as Mission Creek, we agree with you – it’s a great little overlook/location that should only going to get better with time (assuming it’s well maintained). Thanks again for “plugging in.”

  9. Posted by John

    I’ve always wondered what that channel, canal or slough (or whatever the right term is) was used for years ago? I used to drive by that area to go to the golf driving range(now closed) and remember that area being a polluted mess with homeless encampments and the slough filled with garbage and thick with oil. I know they’ve cleaned it up, but one wonders what’s remaining deep in the water and the surrounding soil??
    Anywayz, it just shocks me to see that area now commanding $800-1000 SqFt for what use to be a filthy, contaminated area filled with old machinery, dilapidated boats, abandoned furniture and junk, and who knows what else!

  10. Posted by MissionBayFan

    The disclosure package in 255 Berry should already contain the development plan of 235 Berry, 240 Berry, and 325 Berry. So the owners should have been told that North and East side would be blocked.
    The West side has a promenade which is a part of Mission Creek Park, so the views there don’t change. Actually 325 Berry would end up blocking the 280 Highway view and noise. It is an improvement.
    The North Side will be 240 Berry, a 16 floor luxury condo development by Signature Properties (255 Berry, 235 Berry) and designed by Arquitectonica. It will block the owners of 235/255 Berry from the noise and fume of CalTrain.
    Mission Creek (the channel or estuary) has been cleaned up significantly. Part of the Mission Bay Park management’s plan to protected the estuary so that wild life (native birds species) will be able to return.
    Mission Bay Park management will be putting in a kayak/canoe boat house and launch dock at the inside end of Mission Creek. So Kayakers can launch their boats onto the Mission Creek which leads to McCoveys Cove.
    There will be a jogging trail surrounding the channel (or estuary) which is contained within the Mission Creek Park.
    Still 800-1000/sq feet is too expensive right now. But if all development goes as planned. It should remain an expensive neighborhood of San Francisco.

  11. Posted by curmudgeon

    I stand corrected about views..I should’ve googled it first!

  12. Posted by MissionBayFan

    Hi Curmudgeon. No worries. As a potential buyer, I did “a lot” of research over the past year into Mission Bay and South Beach Area.
    I combed through the San Francisco Redevelopment Agency Plan and city records for proposed development. I also spend quite a bit of time just walking around the neighborhood and taking to various people who lives and works there.
    Honestly, there is no way anyone would have known about the views if you have no such information in front of you. As a potential buyer, I had to do my due diligence.
    I am certain that in the long run, Mission Bay will become one of the most desirable neighborhoods in San Francisco. But like every other potential buyers out there, I am just not sure about the prices given current market condition.

  13. Posted by Anonymous

    How can anyone be sure about the prices at any given time? If you do come across that person, he will either be too busy to talk to you as he he will be busy in finding ways to spend the billions he has made, or he will be too busy to talk to you because he is busy coming up with the next scam.

  14. Posted by Anonymous

    Touring 255 Berry a number of weeks ago, I was told that the opposite side of the “creek” from 255 Berry would be developed as homes and a somewhat high end hotel (closer to 4th street).

  15. Posted by MissionBayFan

    Hi Anonymous:
    You are right, you can not be certain about the prices at any given time. But one can do research to develop an intuition about what is a reasonable price for a given area at a the given market condition. And how the price may appreciate or depreciate over time.
    I do think “Scam” is too harsh of a word though.

  16. Posted by MissionBayFan

    Hi Anonymous:
    The hotel is going to build across the channel from the China Basin building between 3rd and 4th. There will be additional residential buildings across the channel from 235/255/325 Berry. They will be built beyond the existing channel park and a wide street. There should be plenty of clearance. They will also be low rises similar to 255 Berry.
    Here is a pretty good summary of Mission Bay. It is a little outdated, but it will give you some good ideas.
    http://www.tndwest.com/missionbay.html

  17. Posted by curmudgeon

    that’s correct about new homes across Mission Creek. I believe that no one is breaking ground yet, though, and there may be a pause before residential development jumps the creek. The Mission Bay Plan also includes a site for a hotel on the south side of the creek, although folks have always questioned whether it’s really feasible. I don’t believe any developer or hotel operator has yet stepped up to the plate. It will probably be one of the last pieces in the puzzle to be completed, if ever.

  18. Posted by Anonymous

    well…everything is relative, including whether any price is reasonable or not. After spending years assessing stock and real estate prices, the inevitable conclusion is that reasonableness is in the eye of the beholder. If you really like the area and can afford it, and the comps support the price, then you should just buy it, instead of trying to time the market.

  19. Posted by Anonymous

    The funny thing is that when I was told about the homes and hotel going up across the “creek” from 255, I said “wouldn’t it be interesting if the 49er’s new home was on that property,” (thinking a major metro sports complex with AT&T/SBC/Pac Bell and a football stadium within very close proximity to each other was a neat idea), I receivd a very blank stare. Obviously the informant was not a sports fan…

  20. Posted by Anonymous

    i currently live in 255 berry (lower level) and there is a major insect problem here! i wonder if it’s from creek?

  21. Posted by MissionBayFan

    Hi Anonymous.
    What kind of a insects? How major? Is it Mosquitoes? This is a risk that insects will breed next to any body of water.
    HOA should take care of this problem by periodically spraying around the condo.

  22. Posted by Anonymous

    I think you will need to disclose that when the time comes to sell. Having insect problems in the city is rather unusal.

  23. Posted by SocketSite

    That’s the first we have heard of any units at 255 Berry (or surrounding buildings) having any unusual (much less major) insect problems. If the Anonymous commenter at 9:25PM would care to elaborate with additional details (either through a comment or by sending us a note: tips@socketsite.com), we’ll look into it. Otherwise, we have to suggest that you take that comment with a grain of salt.

  24. Posted by Anonymous

    I live at 255 Berry (and have for over two years) and there is no insect problem that I’m aware of. I live on a mid-level floor and while there can be mosquitos from time to time during certain months,if you use the screens on the windows and patio doors it’s not a big issue. I wouldn’t categorize it as a problem or I wouldn’t live here. I look like the Michelin man after a mosquito bite and couldn’t survive this place if they were that prevalent.

  25. Posted by anonymouse

    Anyone who knows anything about mosquitos knows they don’t breed in or inhabit water that is not still. The creek is not a still body of water and is not the source of any mosquitos. It’s likely it’s the pools of water that are on the empty lot across the street from 255 Berry.

  26. Posted by JS

    I used to live in Mission Place (aka The Beacon) and now live at Avalon Mission Bay, just a few buildings away from 255 Berry. There are mosquitos in this area for some of the summer, or I should say at least at both the locations I have lived at. It is not just the lower floors as I have lived fairly high up in both buildings. That being said, I don’t think of it as an insect problem because there aren’t that many of them and they are only around for a short period in the summer, and like the other poster noted above, if you use window screens it’s not an issue. I must say though, I was surprised to find mosquitos in this area.

  27. Posted by MB resident

    i live at 255 berry….some mosquitoes are sharing living spaces with us at the building. at the last HOA meting, the homeowners on the first floor facing berry street stated that they barely even experience any mosquitoes. one resident living on a higher floor stated that he has only seen one mosquito in his unit this entire summer. another homeowner stated that the 3 out of 4 mission creek houseboat dwellers that he knows all sleep under a mosquito net.

Add a Comment

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

Recent Articles