After roughly two months of selling, fifteen (15) of the twenty four (24) new condominiums that comprise Caledonia At Post remain available. Once home to a band of merry squatters, 2161 Sutter Street was redeveloped and condo mapped early this year.
The Caledonia offers a mix of studio and one bedroom condos (all with parking) and shares amenities with the apartments of 2000 Post (which helps to keep monthly HOA dues below $400). Representative pricing for ten of the remaining units:
∙ 2161 Sutter #166 (0/1) 519 sqft – $477,000
∙ 2161 Sutter #168 (0+/1) 734 sqft – $631,000
∙ 2161 Sutter #169 (1/1.5) 626 sqft – $675,000
∙ 2161 Sutter #282 (0/1) 519 sqft – $482,000
∙ 2161 Sutter #285 (1/1) 734 sqft – $652,000
∙ 2161 Sutter #381 (1/1) 725 sqft – $652,000
∙ 2161 Sutter #382 (0/1) 519 sqft – $487,000
∙ 2161 Sutter #384 (0+/1) 734 sqft – $641,000
∙ 2161 Sutter #481 (1/1) 725 sqft – $662,000
∙ 2161 Sutter #482 (0/1) 519 sqft – $492,000
And while no two-bedrooms are curently available, we wouldn’t be too surprised to see the conversion of 2000 Post into condos in the not too distant future.
∙ Guarding Every Vacant House in the CITY! [Poor Magazine]
∙ Caledonia At Post (2161 Sutter) [caledoniasf.com]
∙ 2000 Post Street Apartments [2000post.com]
These prices are outrageous for this neigborhood. No wonder they are still sitting there.
if one were looking at this development, is there any reason to not buy at the towers on van ness and turk instead, which are substantially less expensive and also in a more convenient and arguably less sketchy neighborhood.
I agree, prices here are ridiculous! $913/sq. foot for #481 is lame.
However, that neighborhood is not “sketchy”. People on this site seem to think that if a condo is not located in Pac Heights with a vew, the ‘hood is “sketchy”. Come on. Simply seeing people of different races on your sidewalk does not make a neighborhood sketchy.
I stopped by the Caledonia sales office last week and learned that the project is being pulled off the market. They told me that the developer had some problems getting the white paper and all deposits have been returned to buyers who reserved units.
I am a current “rental” resident at 2000 Post, and I was trying to buy in – despite being a bit overpriced for the market, the lure of not having to home-hunt, find a realtor, or hire movers was too high a bait for me.
I was in escrow, mortgage approved, when the rug was yanked out from under me and the other buyers. The last I’d heard, between 6 and 16 of the units had sold, and all we were waiting on was one last State of CA disclosure. I now wonder if that disclosure was even in process! And according to my mortgage guy – a Wells Fargo bloke who’d been doing onsites there – he had a minimum of 6 buyers lined up and ready to go (and boy is he cranky about lost commissions).
The entire sales staff was laid off. The REIT (http://www.udr.com/) developer (formerly United Dominion Realty Trust) was running Caledonia as a project of its subsidiary RE3 (http://www.udr.com/corporate-overview/About-RE3). The condos have all been yanked from the market, and we still haven’t gotten any answers on paper as to what happened. Rumors include somebody deciding they didn’t want to spend so much marketing the condos (which, considering the marketing folks were underbudgeted and mostly targeting residents of 2000 Post, and the overpricing, is silly). We haven’t gotten two matching answers about whether the condos will ever return to market, be rented, or what.
Meanwhile my parents are paying a second mortgage which was to be my down payment, my $#@! lease is up, and 2000 Post have the nerve to demand a rent increase as well as a minimum of 6 months (and the only reason I am still here is because I didn’t move into their condo last month). I have a legal-eagle relative going over the contract, but I think we’ve been screwed good, and suing won’t do anything besides waste more money.
Fortunately, I’ve just found this site, which will help considerably as I scramble to find a replacement condo.
I’d avoid this company like the plague, and recommend everyone else do so as well if the fools ever set foot in this town again. (I think the bank agent is lying in wait with a baseball bat.)