4121 Cesar Chavez
Listed five months ago and priced at $1,949,000, and then reduced to $1,649,000 three months after that, 4121 Cesar Chavez #6 was listed anew yesterday for $1,599,000. That’s an “official” two days on the Noe Valley market according to those sell side stats.
Also “newly” added to the MLS, 4121 Cesar Chavez #2 with a list price of $998,000 ($778/sqft). In the words of a plugged-in laura four months ago:

These units are indeed spectacular, particularly the upper floor units 5 &6. These won’t move at their current price point and my agent (who’s VERY well connected to the SF agent network) advised me to sit back and wait til this drops to at least $800 per.

As always, it’s good to be connected and plugged-in.
Oh, and while 4121 Cesar Chavez #1 is now in contract with an “original” list price of $1,198,000 ($771/sqft), it’s a plugged-in tipster that reminds us they were once asking $1,349,000. Remember to adjust those industry reports accordingly.
∙ Listing: 4121 Cesar Chavez St #2 (2/2.5) – $998,000 [MLS]
∙ Listing: 4121 Cesar Chavez St #6 (3/2.5) – $1,599,000 [MLS]
It Gets A Little Easier To Reach The Summit (4121 Cesar Chavez) [SocketSite]

Comments from Plugged-In Readers

  1. Posted by DataDude

    Is this the same architect as 625 Duncan?
    The exterior looks like “cubist meets pagoda.”
    The views and interior, however, are quite nice.

  2. Posted by AS

    Exterior looks cool.

  3. Posted by tipster

    I want to know who the realtor is who said ANYTHING other than “Hurry! Buy now! They aren’t making any more land!”

  4. Posted by FSBO

    Per the DBI permits, it looks like Alan Martinz was the architect on 625 Duncan while Hood Thomas Architects did 4121 Cesar Chavez.

  5. Posted by San FronziScheme

    They aren’t making any more land!
    Yep, and and They aren’t making any more money neither despite the attempt to re-inflate. The CPI was negative in October. -1% MoM for the CPI or -0.1% after discounting for the usual suspects (food/energy).

  6. Posted by Laughing Millionaire Renter in Marin

    I doubt we could ever get significant CPI deflation (like in the 1930s) in a wholly fiat-based monetary system. But I’d bet on basically 0% “inflation” for years and years, with asset prices like houses and stocks absolutely destroyed (a la Japan in the 1990s-2000s). And that’s my “optimistic” scenario 🙂
    Back to this apartment building. Has anyone closed on a unit yet? Does anyone know?
    About the pricing on Unit 6. It seems silly to cut the price by only $50K. I don’t know what sensible pricing is for this (not too familiar with the area), but all the developers have succeeded in doing IMO is to demonstrate that there was ZERO serious interest at $1.65M, where they held it for at least 2 months, which means there were no offers anywhere near the current listing price of $1.6M (otherwise they would have sold). That’s a useful piece of information for someone considering making an offer. And the world is in MUCH worse shape now than 2 months ago, when fools thought the government was going to be able to bail evrybody out. Waiting pays!

  7. Posted by Rocco

    One wonders if they would have sold faster with an elevator. Almost $2M is a lot for a third-floor walk-up. And so is $1,599,000.

  8. Posted by chuckie

    I wish I had taken more economics, and paid more attention to whatever little I did take. Maybe you will do a longer version of that first paragraph.
    I agree the 3% price cut seems silly. As far as I know, conventional wisdom among realtors has been to not make any offers 5 or 10% less than asking. I am pretty certain any offers within 10% of asking would have been brought to them.
    This morning I came across this 18.5% price cut on 1/1 luxury condo (#2106) at the Metropolitan, down from $675K to $550K.
    One floor above #2206 is listed for $600K. One floor below #2006 is the real deal listed for $788,999 (by Paul Hwang). If it’s not proprietary, maybe Paul will explain the pricing strategies.

  9. Posted by anon

    Rocco – there is an elevator.

  10. Posted by fluj

    “I want to know who the realtor is who said ANYTHING other than “Hurry! Buy now! They aren’t making any more land!”
    That was apropos of little, Tipster, but if you are quite serious about this quest of yours may I suggest you begin by consulting the Big Island, Hawaii Yellow Pages, Real Estate section. They are indeed making pipin’ hot new land out thatta way.

  11. Posted by atlas

    $727 in HOA? I hope that is for the year. Anyone have insight?

  12. Posted by chuckie

    These appear to have gone into contract.

Comments are closed.

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