1810 Polk Street (in San Francisco between Jackson and Washington) is a collection of 12 “newly constructed luxury residences” ranging in size from 1-bedroom/1-bath to 3-bedroom/3-bath. And after a couple of months on the market, only one condo (#306) is currently listed as Active and available.
We’re still looking for hard numbers on actual sales (a number of units are currently in contract), and we haven’t had a chance to tour any of the units (although the Viking appliances, wide plank Brazilian walnut floors, and one car deeded parking did catch our eye). Any readers care to fill in the blanks or share a first impression?
Oh, and in case you haven’t been there in a while, we hate to break it to you, but New Wing Lee (and their “excellent fried prawns and pork fried rice”) is no longer. Don’t blame us, we’re just the messengers.
∙ 1810 Polk Street [Official Site]
∙ Listing: 1810 Polk Street #306 (3/3) – $1,179,000 [Vanguard] [MLS]
∙ New Wing Lee Review [Yelp]
∙ Farewell Favorites: Wing Lee [mistersf.com]
Was in this building a few months ago and thought it was pretty basic. Location is pretty central though Polk itself is busy.
I’m not loving that kitchen.
Funny, isn’t how taste differs. I love the kitchen and think it’s the best selling point of the units as the floor plans are odd…something seems out of scale between the living spaces and the kitchen…glad, nonetheless, to hear they’re selling.
Is the developer the same one who did 188 King…there are striking similarities (or coinicidences) in the bathroom and kitchen finishes. Just wondering.
Does anyone know any of the developers or architects on these projects? I agree with the kitchen vs. living space scaling. It’s almost like every new condo being built over-emphasizes kitchen space and sacrifices living/dining area. The “open floorplan” concept is taken too far – who wants their dining table to have to be put right next to their sofa because the living/dining area is so small? These places aren’t all pieds-a-terre for rich out of towners – some people actually live in them and want to have friends/family over for diner and not have everyone piled on top of each other in the crammed living area!!!
Not the same developer as 188 king. Incidentially, a bunch of the 188 King units are BOM today.
I second the thoughts on the kitchen- I wasn’t a fan either and also thought the layouts were odd. The architect is Levy Design Partners though….
More luxury. Why does it seem like every new home in the City requires me to get on the hook for luxury?
I don’t want luxury, I can’t afford luxury.
I want a well-designed home. The definition of “well-designed” is not “finest materials available” an “luxury high-end finishes.”
I’ll bite. What does BOM stand for?
BOM = Back on the market.
More luxury. Why does it seem like every new home in the City requires me to get on the hook for luxury?
I don’t want luxury, I can’t afford luxury.
I want a well-designed home. The definition of “well-designed” is not “finest materials available” and “luxury high-end finishes.”
Hey, welcome to the club, I’ve been saying the same thing for a while now. Unfortunately, this is not the market for common folks, or those not wishing to indulge in “exotic” loans.
On the luxury issue I wonder if this might be somewhat connected to the fee exactions, “affordable” inclusions and overall high costs and uncertianty of getting permits in SF?
I am guessing building these types of places is the only way developers can make money.
I think zig has got it right. When the SF politburo (oops, I mean supervisors), attaches so many restrictions on new units in the attempt to increase afordable housing, it ends up having the opposite effect.
Ummm, we talked about this a bit before, but basically the cost of the land and construction costs to put up the basic building without any interior finishes count for the vast majority of the costs of a unit – the granite counters and Bosch appliances are a drop in the bucket compared to the rest of these costs, so it’s pretty unwise to skimp on the finishes. This location especially warrants high end finishes as it’s a pretty nice location and will sell at the upper end of the condo market due to that location alone. So, looking for affordable brand new condos in an established, highly desirable neighborhood is not realistic. Like it or not, but unless the market changes dramatically, affordable now means a smaller than typical unit in a less desirable neighborhood. Truthfully, if you’ve got a decent rent controlled place in the city in a good location, you might want to count your blessings. And as far as city fees driving up the price of units? Right now, all it does is depress the price of the land as developer’s don’t price their units based on a fixed cost plus profit formula – they price them as high as they can and whatever is left is their profit once all the costs (including city fees) are taken out. Ultimately, supply and demand sets price levels, not costs. When costs are higher than what they can sell them for, new construction stops, but existing product still sells for less than cost – this happens in the commercial office market pretty frequently during down cycles.