CFAH

The twenty-nine new condos at The Greenwich (1501 Greenwich) officially opened this weekend and a few readers have shared their thoughts. And while we’re still in search of a complete price list (email tips@socketsite.com), it appears that prices range from $589,000 to $1,949,000 (based on the two units listed on the MLS).

The Greenwich (1501 Greenwich): Website Live And Floor Plans Return [SocketSite]
∙ Listing: 1501 Greenwich #202 (2/2) – $929,000
∙ Listing: 1501 Greenwich #306 (1/1) – $589,000 [MLS]
∙ Listing: 1501 Greenwich #601 (3/2.5) – $1,949,000 [MLS]

Comments from Plugged-In Readers

  1. Posted by Robert

    I went to the Grand Opening today – some (mostly negative) comments:
    1. The units on the 5th and 6th floors are very nice with everything upgraded to custom home level. It’s hard to see how they will sell at anything close to their $2M+ asking prices, but still they’re nicely done.
    2. The still-expensive 4th floor units have westerly views of the rooftop stacks of the adjoining building – yikes. Below the 4th floor – the non-Van Ness units look directly across at the windows of the next building, like any San Francisco building backing to an alley.
    3. The private rooftop decks for Units 601-604 add mightily to the prices but are pretty useless since there is a massive machinery shed on the roof that emits an incredibly loud and continuous sound that obliterated any ability to sit and enjoy the GG Bridge view. I doubt that the unit owners would ever really use these decks.
    4. Most shocking, not to understate the problem, REALLY SHOCKING, is the sad garage situation. First, only half the units have a garage space. Perversely, the owners without spaces are the lucky ones! For the owners unlucky enough to have a garage space, good luck getting into and out of your spot. First, the entrance/exit is only one-car wide, so there will be lots of close encounters and cars backing up into the garage or street when two cars meet at the entrance. Second, some of the spaces are simply too narrow for all but the most compact cars, with pillars that will chop off your mirrors on both sides. Third, several of the turns in the garage are so narrow that you cannot make them in one move – think parallel parking techniques – you have to go partway, back up, go forward again, etc. And that’s if no one is coming the other way!! If someone is coming the other way, it’ll take at least 5 minutes to complete the mutual dance necessary to allow each other to pass. Finally (whew!), on the lowest level the lane is so narrow that there is insufficient space to back out of your space. Literally, you won’t be able to get your car out if another car is parked in the space behind you, since you need to back into that area in order to permit you to turn the wheel to the side to exit the area.
    It sounds like I am overstating the parking nightmare, but I am not. It is hard to see how anyone who sees the parking situation, and needs a car, will see their way to buying a unit in this building.
    E. The most beautiful fire stairways I have ever seen – it appears that the steps are made from Corian or some similar material!!

  2. Posted by Robert

    Apologize for one likely error in my posting – I now see that the website says that all units have parking, and some units have two spots. I thought I had overheard one of the salespeople today telling a customer that only half the units had parking. So for those who get two parking spaces – you’ll have “double the fun” described in my last posting . . .

  3. Posted by Bernie Lomax

    So I went to the opening yesterday. $589k for the one BR that’s open. It’s amazingly small, one closet, no much room to work with and the crappiest bathroom of all time. There’s a stand in shower/bath. I mean, who takes bath’s these days? Give me a nice standing shower. I was really jazzed to finally see this development and it was a total bust – my buddies that came with me agreed. Overpriced, undersized in a great location. Bummer. It’ll be interesting to see what this actually sells for and how long is takes 2 people in a 1 BR here to demolish their relationship and possibly will to live.

  4. Posted by gh

    So the exterior isn’t the only sh**ty thing about this place?

  5. Posted by Marissa

    In partial defense of the building, the finishings on the units on the top three floors are reminiscent of the finest custom homes you can find. Very nicely done. But I do think that they have mispriced the building, given the overall situation (including the horrendous parking garage). I also agree that the rooftop decks will not be usable due to the machinery noise. All that being said, I think if the best view units were priced in the $1.8M range perhaps, you’d have to consider them (and maybe park on the street).

  6. Posted by yao

    504 and 604 are the best units on the NW corner of the building. everything on the east side of the building will have to deal with bus noise from van ness (including the units on the 5th/6th floors). the 5th and 6th floor units on the southwest corner of the building also have views from every window, but not quite as good as the ones in the 504/604 units.
    1000/sqft seems a bit steep for the lower units where you either get to listen to the cars on van ness or stare at your neighbors across the alley.
    i agree that the one beds seem… small.

  7. Posted by asiagoSF

    response to Bernie Lomax
    “who takes baths these days? Give me a nice standing shower”
    You obviously don’t have kids. One absolutely needs a bath tub to wash a child until he/she turns 4.

  8. Posted by John

    Checked out the “Grand Opening” as well and agree with some (but not all) of the observations in earlier posts.
    Positives: Units on 5th/6th floors are extremely well done, seemingly to the last detail – huge views, vaulted ceilings, gas fireplaces (living room and bedroom), all ultra high-end appliances, and smart/finished closets/storage. Roof decks (private) are quite large and two of them (that face the Golden Gate) have unbeatable views.
    Units on the lower floors appear to have the same high level attention to detail as the top floor units (self-diagnosed obsessive compulsive; trust me, I look!) and similiarly high-end finishing. All have finished closets/storage spaces that make the most of the SF (important in the 1BD unit, which was certainly not large).
    Negatives: I note the same issues (tight parking, SF of 1BD unit, lack of views on lower floors) but would not go so far as to call the parking “a nightmare” (a “nightmare” is trying to park almost anywhere in that area without a garage, though I wouldn’t want to drive an SUV and live in this place) or the bath in the 1BD the “crappiest of all time” (I don’t take baths often **read, ever** either, but I don’t really mind maintaining the option!)
    As for the views, I don’t see how looking out at Van Ness or another building (the situation with many units) is any better or worse than any other view that doesn’t have water and/or a world-famous bridge in it! Granted, it’s disappointing after first touring the multi-million dollar units upstairs, but what wouldn’t be? Noise (at least when I was there) hardly seemed to be an issue. I know someone with an 11th floor apartment up the street on Van Ness (in a nice building) where street noise seems more pronounced than on the 2nd floor of this place.
    Finally, I don’t love the exterior color of this building (which does appear to match an Embassy Suites quite nicely!) but have to believe that this will change at some point down the road…

  9. Posted by gh

    $1,949,000 on the Van Ness corridor still makes no sense to me. This inferior location will cost people money down the road.

  10. Posted by Ken

    Less than 20% of the units were priced on the handout sheet at yesterday’s Grand Opening. The rest were listed as “Second Release”. Presumably this will give the sales team an opportuinity to make adjustments based on how the first release sells (or doesn’t). All units were open and all appear to be in near move-in conditon. The kitchens in the 1BR units were so tight that the staged dining table blocked the oven door.

  11. Posted by Robert

    John, nice thoughtful comments. Did you actually park in the garage though, or just do a walk-through. I submit that a number of the turns cannot be negotiated with anything but the smallest compact car (e.g., a Mini Cooper). Also, I do not believe that any car other than a Mini Cooper-type would have the ability to negotiate entering or exiting from many of the spots. Again, to be clear, my complaint is not of the typical “parking is tight” variety; I am actually asserting that there is something wrong with the garage and for most cars, it just simply wouldn’t work.

  12. Posted by [theFrontSteps]

    The Front Steps just posted pricing:
    http://thefrontsteps.com/2008/02/11/comment-du-jour-the-greenwich-was-a-zoo/
    -#201: 2 bed/2 bath; 1131 square feet; $1,049,000
    -#202: 2 bed/2 bath; 932 square feet; $929,000
    -#306: 1 bed/1 bath; 615 square feet; $589,000
    -#307: 2 bed/2 bath; 1104 square feet; $1,099,000
    -#406: 3 bed/2.5 bath; 1421 square feet; $1,695,000
    -#502: 3 bed/2.5 bath; 1533 square feet; $1,895,000
    -#601 penthouse: 3 bed/2.5 bath; 1609 square feet; $1,949,000
    -#603 penthouse: 3 bed/2.5 bath; 1468 square feet; $2,295,000
    -All other pricing for other units pending Second Release
    -HOA fees range $399-$507

  13. Posted by [Prime]

    I went yesterday as well, and it was absolutely NUTS I tell you. Anybody else who went agree with me? 5 minutes to wait for the elevator, lots of Asians from Asia and Europeans from Europe, and a lot of old people. I cannot believe they are asking $1,500/sqft+ for the view units. Come on now! I was hoping that I wouldn’t have to bid no more than $1,000/sqft. Where the heck are these people thinking???
    My favorite unit is #504/604. I think #504 should go for $1.5mil, and 604 for perhaps $1.7mil. Yes, we know that the North End is strong, but I think these units aren’t going to sell, and pricing them 20% higher than prices last year is way too aggressive. The location is great, but I think the agents wil have egg on their faces when nobody submits.

  14. Posted by [Prime]

    BTW, it’s all about having a deep soaking tub. Appeals to women, family with children, and is a much more efficient way of cleaning up.
    The views are truly spectacular from the 5-6th floor west facing units. A view from all 3 bedrooms and living rooms is rare.
    Location is solid, and 10X better than anything in SOMA.
    The price is just 20% too high!

  15. Posted by Amen Corner

    The place was indeed a zoo, but five minute waits for the elevator were easily avoided by taking the well-appointed stairs.
    I thought the penthouse units were spectacular. As for the low floor units, I concur with earlier comments that it’s really pretty amazing to pay upwards of $1000 per sq ft and end up with a view across a pretty narrow alley of another building’s windows. But you know what? I bet they sell at the asking prices. Lots of people in SF are willing to pay a premium for new construction.

  16. Posted by Kev

    I too was quite stressed by the compactness of the garage. I had just bought my Acura RXD (compact) the day before and was waiting to get dinged navigating for a parking space labryinth.

  17. Posted by spencer

    agree with most others here. Location is good B+. apartments interior and exterior design is a C+, but the prices are about 20% too high.

  18. Posted by resp

    for those commenting about the high end finishes, please:
    1) look inside the custom cabinets and note the unfinished wood, screw heads, and unsanded dovetail joints. probably made in china.
    2. price the appliances. liebherr refrig and mediocre vent hoods aren’t “super high end”. viking stoves are nice.
    3. brazilian wood floors are already popping up in some spots.
    gotta love that motel feel and smell in the hallways too.

  19. Posted by High-end

    The building is a study in contrasts and illustrates the struggles the owners had in making cost/benefit trade-offs, often not particuarly well. The windows, unit front doors, and hardwood floors stand-out for their quality and design. The kitchens and bathrooms were badly compromised and are of low quality, although the tile-guy did a great job. Overall, the building feels like a corporate apartment. I guess new-build construction just isn’t economical in SF. Overall, I found the building a disappointment.

  20. Posted by John

    Robert – I didn’t say the parking was spacious, I’m agreeing with you! And no, I didn’t park my (compact) car. My impression was “tight” but not impossible…I don’t think code would allow a new underground garage that requires three point turns to negotiate corners. Plus, we are visiting on a day where hundreds are visiting…I would imagine it wouldn’t be a big deal when there are only 20+ residents.
    Also…I asked about the noisy machinery on the roof and was told it comes on automatically on an intermittent basis when too much carbon monoxide exists in the garage (construction machinery and visitors over the weekend, so I was told); so probably not a huge/permenant issue. To say it is “doubtful” one of the penthouse owners would “ever really use” their private deck is crazy.

  21. Posted by Fluffworth

    This building is ugly and looks like a corporate hotel. The parking, while not spacious, isn’t much worse than any number of other much, much, nicer, larger, and dripping with character older high-rise buildings in Pac Heights (and cheaper, certainly on a price per square foot basis). Check out 1896 Pacific for sale at 2.595 M at nearly 2700 square feet, 3 beds, 4 baths, library/study, the works and you’ll see what I mean. http://sfarmls.rapmls.com/scripts/mgrqispi.dll?APPNAME=Sanfrancisco&PRGNAME=MLSPropertyDetail&ARGUMENTS=-N901880967,-N216509,-N,-A,-N12179387

  22. Posted by anon

    Fluffworth! Your name is hysterical. (I’m still trying to narrow donw my name selection) And good point about older buildings garages. I almost bought a unit in an older building in Cow Hollow and at the last minute asked to see if my car (VW Touareg) would fit into the garage. It did not.

  23. Posted by Bob

    I have read all the negative comments and wish to point out some positive comments. Location=Great Interior Detail=Great Quality of all appliances= does not get any better. Garage is very standard and usable. I had no problem parking Sunday nor did I have any trouble getting in or out of the garage on the busiest day this garage will ever see. The noise on the roof bothered me also and I inquired about it. It is simple. the fan on the roof is strictly to make sure the carbon monoxide levels do not get dangerous which means that on Sunday obviously it would run more than normal. Typically the fan will run about 5 minutes per week as the garage will never ever get the usage it got on Sunday.
    I feel the building overall is well done.
    Bob (possible buyer)

  24. Posted by McBravio

    Are you guys crazy? These things are gonna sell like friggin Playstation 3s!! Go Shamrock

  25. Posted by Sleepiguy

    I see that several units are already under contract.
    #604- 2.3 million
    #504- 2.1 million
    #401- 1.1 million
    #306- 589k

  26. Posted by Robert

    Sleepi, how would you know this? Most developers are loath to release the sale prices of units that are in contract but not closed. (Kudos to the sales team at Radiance by the way for not playing this silly game.)

  27. Posted by Sleepiguy

    It’s all on the MLS… http://www.sfarmls.com
    Anyway, the listing price may or may not be the sale price; some may close under asking while others close over. We don’t know yet.

  28. Posted by asiagoSF

    just went this morning… the top units with GG views are well worth $2M+, not because that’s their market value, but because places with those views just don’t come on the market frequently or predictably but when they do you can bet there’s a fat-walled buyer waiting in line.
    As for the 200’s and 300’s units, I wonder if they are ever going to able to get a buyer to shell out $1M for the privilege of staring from the living room at somebody else’s window a mere 12 feet away!
    My guess is that the builder will still make money selling the top floors at premium $ and discounting the heck out of bottom floors. Just a guess.
    As for the interior style, it’s true, it is totally corporate apartment, high quality but still just that. Not my style, but nothing wrong with liking that style. Foreigners are impressed by it, and suburbanites are too.

  29. Posted by hermanmyer

    The MLS says that top one closed for $1600 a square foot at $2,551,000.

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