410 Jessie #902: Living
410 Jessie #902: Kitchen
410 Jessie #902: Bath

The morning coffee hasn’t kicked in around the office, and until it does, you’ll just have to make due with a couple of pretty pictures. Mochaccinos to the rescue…

First and foremost, while the 52 units at 410 Jessie (“Hales Warehouse”) are being sold (50 market rate and 2 BMR), the 25 units at 418 Jessie (“Station House”) will be leased (at least initially).

And although the first official broker’s tour and “sales office” opening (414 Jessie alongside the “Mint Lounge”) aren’t currently scheduled to occur until later this month (yes, it’s a moving target), around half of the units at 410 Jessie have already been reserved (a combination of “friends and family” and those who have pro-actively called the developer).

As you might recall, the top six floors (5-10) of 410 Jessie were previously converted into leased live/work loft spaces and are currently undergoing a complete upscale remodel (see pictures), while floors 2-4 are in the process of being converted into more traditional condominium floor plans (with the same quality of finish as the upper floors). Lack of light and street noise might be a factor in some of the lower units, but the quality of finish is impressive throughout.

A couple of building features that we’ve previously mentioned: a shared rooftop deck, grill, and fitness center; daytime concierge and 24-hour security; forced air heating/cooling. And one that we haven’t: a small “doggy pad” on the roof.

In terms of parking, there are five three-car parking lifts in the building. One space is reserved for a black convertible Mini Cooper that’s exclusively available to residents of 410-418 Jessie (through City Car Share), while the other 14 spaces (11 of which are already reserved) are licensed to specific units. License holders pay $300/month for parking and can “sublet” their space to other residents in the building.

Monthly HOA fees are expected to run in the neighborhood of $0.60/sqft and the first wave of occupancy (top floors first) is now expected to occur in May/June (again, a moving target). Some representative pricing (for units which are actually available):

∙ 410 Jessie Street #201 (2/2) 1,229 sqft – $960,000 (with parking license)
∙ 410 Jessie Street #305 (0/1) 433 sqft – $490,000
∙ 410 Jessie Street #401 (2/2) 1,229 sqft – $1,020,000 (with parking license)
∙ 410 Jessie Street #404 (1/1) 631 sqft – $590,000
∙ 410 Jessie Street #503 (1/1) 1,107 sqft – $750,000
∙ 410 Jessie Street #504 (1/1) 1,363 sqft – $975,000
∙ 410 Jessie Street #701 (1/1) 1,240 sqft – $1,020,000 (with parking license)
∙ 410 Jessie Street #905 (1/1) 996 sqft – $890,000

Our pick of the litter (so to speak) is unit #701: three walls of windows, a parking license, and room to add another “room” (for those with vision). And we’ll have more on the development of Mint Plaza next week (we’re bullish), and details on 418 Jessie soon thereafter (but if you’re interested, don’t wait for us).

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Comments from “Plugged-In” Readers

  1. Posted by eddy

    Cool. Very NYC. I like.

  2. Posted by Damion

    It’s a cool building, especially the units with views. I find the prices a bit steep, though. Even though they’re big, at the end of the day you’re still looking at a one-bedroom for about $1 million. As it’s previous incarnation was as an office building, a live/work situation might be ideal there, and help justify the price in my opinion.

  3. Posted by Will H

    Very cool. I am loving the Martin Company. Prices aren’t low here, but these units are just across the street from the new Westfield and just a few blocks away from the center of Union Square.
    What’s the general thinking on home appreciation for lofts? Wait.. are these really lofts?

  4. Posted by mint lover

    Took a look at them and they’re going to be very cool. Jessie street is scheduled to be blocked off soon to begin construction on Mint Plaza. What killed it for me was the $700 month assessment (for #503) and no parking. As if those two topics haven’t been discussed enough.

  5. Posted by amused

    Yep, these are real lofts.
    I live in the Martin Co’s first-ever loft conversion, originally done in 1992 (2 unit building in a former sprinkler factory). Liking everything they’re doing with their conversions.
    For the $/SF, these look a LOT more interesting than virtually anything in South Beach, SOMA, etc.

  6. Posted by Sean

    Not a big fan of the stainless steel tub.

  7. Posted by minime

    I took a private tour before. The units with view are amazing. Eveything is in a very details level. However, the one in the lower level and facing the back is dark. The unit closer to the fifth street can be quite noisy (for the traffic around)
    However, alot of one bedroom is only a junior one bedroom, no window, but high ceiling, so still feel very spacious.
    Furthermore, HOA is very high (600+) plus the extra $300 parking fee, even you got the parking liscence. Furthermore, it is not a deeded parking spot, is the evalotor type…….
    For almost $800-900 /sq without parking, for me, I don’t think it is worth it, even for the location. Especailly it is a live/work zone………….
    For me, I would combined two one bedroom (which is realative small to put in the sofa and the dinning table), to make a two bedroom for more roomy setting for the living and dinning area, and at least one room get the window………however, I don’t think they can sell a million for a two bedroom on the lower floor………which make more sense for them to chop them into pieces with those junior one bedroom….
    This is just my 2 cents.

  8. Posted by tipster

    Not a big fan of the stainless steel tub?
    Sean, it’s PERFECT for cooking crack and all sorts of other helpful items you can sell to your “neighbors”. I think the tubs are a real plus, given the location.

  9. Posted by Anon

    Yeah – the Martin Company does great work – very high end finishes to give it that luxurious yet original loft feel. It seems they’ve always sold at a bit of a premium to other loft competition. As far as price appreciation (or gasp, possibly depreciation) for lofts versus condos, the thing to keep in mind is supply and demand. For a couple of years there, lofts were the only thing that was being built in SOMA due to a loophole in the zoning that allowed a bigger loft building to be built on a site compared to a normal condo. That zoning loophole ended in about 2001 and aside from a few stragglers which were already approved, most new construction is now typical condos (the exception being the rare conversion of a commercial building to lofts like the Mint Lofts). So you’ve got a fairly limited supply of lofts now (I think the number is around 1,500) and probably not a lot of new ones being built, so strictly from a supply/demand side, I’d say that the loft market would be more favorable than condos. However, the lack of a second private bedroom in lofts can be a turn off to a lot of buyers. Overall, I’d say they’re probably going to perform pretty much the same as the rest of the market and possibly a little better if the market gets flooded with a lot of generic condos.

  10. Posted by patiently waiting....

    The studio and one bedroom are pricey compared to The Palms. The Palms can’t even sell their remaining studio’s @ $470k and one bedrooms @ $580k and they are located in a better neighborhood. It will be interesting to see how/if these sell with the soma grande down the street begining their sales.

  11. Posted by Anna

    I actually like this area a lot more than that around the Palms. Westfield (grocery, theater, restaurants, and shopping) is right across the street and better access to muni/bart. And in terms of design, there’s no comparison. Two very different properties.

  12. Posted by Stevenson St.

    For a neighborhood that has yet to turn the corner, the pricing reflects as if the neighborhood has already been turned into mission bay or maybe following the ritzy hill trend? I mean cmon’ there are crackheads that sleep right outside your window, piss on your building and they still want 900+/sf? and you still have to pay monthly for parking??? this makes soma grande look like a deal! As for Palms, they can’t give them away with their incentives.

  13. Posted by eddy

    Anyone know where that staged coffee table might be purchased? It’s the low and narrow table in the first picture in front of the couch?

  14. Posted by redseca2

    Our architecture firm is on two floors of the Market Street building that also faces the alley side of these projects. We have been watching this come together for almost 10 years it feels like, and are super excited about the Mint ala Belden alley concept.
    Although I like what they have done, that is way too close to my job to ever consider living there, so I am trying to avoid a walk-through.
    FYI: Those same great old over-sized double-hung windows you see in the photos also occur in some of the bathrooms. If you do take one of those units, please resolve your window coverings before you move in. You just do not miss a thing sometimes and we are trying to work.

  15. Posted by David

    Any inside scoop on which units got shelved for the BMR program?

  16. Posted by Mark Ballew

    I walk by this location on the way to work every day, and just from the outside it is a handsom building. The prices are a little high for the location, considering there is a residential hotel attached on two sides of the Mint Collection on the corner of Jessie and 5th. The Mini-market and 8 Flavor Coffee are good for quick snacks, but the hotel dumps some ‘interesting’ characters onto the street.

  17. Posted by Sexy & Sassy in SF

    Love the look. Yet another beautiful project just a little too close to Crackville for my taste. Oh … and much too $$$$ for the location.
    BTW, “along side” is one word, “alongside.” Sorry, can’t help it.

  18. Posted by amused

    Here’s my requisite stump for “Crackville”.
    Why live in an interesting, vibrant, changing, warm part of SF? After all, there are unseemly elements nearby.
    Instead, you can freeze to death all summer walking from the Balboa to the City Tavern in the same tired Seven jeans and Blahnik ripoffs as every other woman north of California Street. I guess that’s what being sexy & sassy (but filled with irrational fear) is all about.

  19. Posted by liz

    Crackville schmackville. No way does having addicts around trump all the other positives about a (my) neighborhood. They don’t bother anyone, or at least me.

  20. Posted by Lizzy

    Hey Liz, i would like to hear all the other positives you were talking about, it sounds enlightening especially being so close to everything downtown including the meth clinic around the corner.
    I work @ a dot com on Stevenson st.(6 years now), party at club six and the mezzanine on some nights (associated with the developers of the mint) so i’ve been in the neighborhood both day and night.
    It doesn’t get any better than walking to my luxurious condo dodging a pile of human feces (every 10-15 feet), taking a breath of fresh urine (every corner), and asking the dope fiend smoking his pipe in front of the entrance to move so i can get into my building.
    BTW The new federal building has “Police” parked (every morning so far) near the main entrance to the fed building off seventh and stevenson st. making sure none of the homeless or crack heads bother their employees.
    I wonder if Soma Grande or The Mint will offer this same option?

  21. Posted by liz

    I walk around all the time. I don’t pass any more urine or feces than I did living in Hayes Valley – in fact there was more there. I love being close to downtown, and to me it’s an interesting, diverse neighborhood. Addicts are people, too, and sorry but they don’t offend me. To each his own.
    And the police told you that’s why they’re there? To stop the homeless from bothering employees? Interesting.

  22. Posted by Lizzy

    Thanks Liz for the great list as to why this neighborhood is so great! You mean, crack heads are people? really? Noway
    And yes, sarcasm is so over, right!?
    Doorman? try the new form for mid-market “Luxury” condo security, “Police”! Can’t beat that Rincon Hill!

  23. Posted by Dan

    “People are people
    So why should it be
    You and I should get along so awfully…”
    Chill out Lizzy! You asked Liz why she likes her neighborhood, and she told you. People have different priorities and different tastes.

  24. Posted by Sexy & Sassy in SF

    My 7 jeans are quite comfortable, thank you. And I would never be caught dead in a knockoff, either … again, thank you very much.
    Irrational fear? Hardly. Just don’t want/need to surround myself with the “locals” of Crackville. You seem quite offended … you must be a local.

  25. Posted by darla

    Haha, lizzy. don’t know where you live but you shuold find somewhere else to live than a city. Part of what makes any city “real” is all the diversity and imperfections. but i guess you’re happy in what ever elitist world you live in your mind. glad i don’t live there. obviously lots of people choose to live in that area; including those less fortunate than you. you’re not nice and your abrasive tact is lame. go away.

  26. Posted by amused

    I am a local, and quite proud of it.
    I lived north of California St. for 10+ years. I wish I had moved to a more interesting, vital, urban spot a long time ago. I now live in over 2000 sf, and have another 1000 sf of roof deck. The weather’s a whole lot better, to boot.
    [Removed by Editor]

  27. Posted by Tom

    Eddy, you can get that staged coffee table, or something very similar, at Architectural Elements on Valencia. I don’t see it on their web site http://www.ae-home.com/ but saw it in the store. Propeller on Hayes also has really cool coffee tables. I’m not affiliated with either. Good luck.

  28. Posted by Nicole

    Does anyone know who the interior design firm was on this project?

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