1629-1635 Green (www.SocketSite.com)
Two homes on a double lot partially hidden behind a wall of green, the listing for 1629-1635 Green notes: “Second home has plans/paid permits ready to build for gorgeous remodel/addition…with walls of glass plus 2 car gar.”
1629-1635 Green: Rendering
And perhaps it’s an unintended omission, but a word we didn’t see: approved.
∙ Listing: 1629-1635 Green Street – $2,595,000 [MLS]

18 thoughts on “1629-1635 Green: Selling What Could Be (If Financed And Approved)”
  1. If the permits have been approved could a buyer just build the 2 garages and not build the second house?
    I’d be interested if this was possible as I have been looking for a SFR on a large lot with parking for two.
    It does look a little close to the Franklin expressway for >$2.5MM though.

  2. I’m actually familar with this project: it is indeed approved (variance for expansion of rear unit of historic property) but as I understand it you would most likely have to go back to Planning to only build the garage as the only reason the garage is being added is due to the expansion of the rear non-conforming guest cottage. FWIW, I live around the corner and have always admired this compound and think the addition of another parking garage really ruins the curb appeal. I wonder if you could expand the existing garage by making it longer/deeper for less $$$ (and avoid Planning/DBI altogether)?

  3. Have to agree with Jake about the need to go back to planning if you’re only building the garage. Would also, though, have to go back to planning if you are expanding the existing garage (for more spaces…). If you buy this, you buy it with the permits as is. You may be able to adjust here and there but not much.
    Personally, I think it is in a great location. If I were the seller, I would be hitting the extended family angle. I would also be maximizing any potential of views from the property, even if it is only from the roof deck (which may or may not be part of the current permit).

  4. Per DBI’s Permit Tracking System, only the Site Permit has been approved. You cannot build with just the Site Permit.
    An Addenda plan which includes architectural, structural and mechanical drawings will need to be submitted, reviewed and approved by the respective stations. This can take many more months. I hope the Realtor discloses this.
    This Site Permit approval only is applicable to 2219 Pacific.

  5. anon @ 10:09. How many more months would you spectulate that the addenda plan approval process would take? Once the site permit is approved, is the addenda plan process pretty straight forward (going through the motions), or is there still a chance that these plans would need significant revisions?

  6. Anon2, that is an open ended question which would depend on a lot of factors which include but not limited to:
    The quality of work by the Arch and Engr of record. (DBI does not have the privilege of rejecting work)
    The response time from the Arch and Engr of record. (varies for reasons like vacations, illness, their backlog, and billing between the arch/engr and owner)
    Whether the permit applicant wants to do serial permit review or parallel permit review (which requires additional plans and a lot of coordinating between disciplines).
    Back to your question. If I had to give a rough estimate on how long it will take this permit to be approved (without knowing who the arch or engr is I would say 6months).
    You will notice that the backlog and the time of actual review is really short compared with the response time from the permit applicant.
    See the permit history for 1629 Green (200705111031).
    BTW: You can kinda disregard my comment about 2219 Pacific, looks like the addenda has been approved and ready to be PAID for and picked up as of 12-9-08. I’m assuming the new owner will be asked to pay for this fee.

  7. They also have the rent control problem of an elderly sitting tenant, who is famous in a “relative” way, in the front building. This was bought not long ago for under $2m. Something has gone wrong; the plans are terrific. These two houses are only a part of the “village” comprising three or four additional buildings on different lots. There is another village, more thoroughly condo’d, in a parallel position one block south, uphill, on Vallejo between Franklin and Gough. It is surprising that the Franklin/Gough one-way and through streets do not compromise prices more than than they do.

  8. conifer, your previous purchase price is incorrect. all that may have gone wrong here is that the developer realized that they weren’t going to make much of a profit anymore, and is trying to unload it.

  9. my understanding is that these two could not be made into condos but would have to be TIC.
    good luck with a TIC at that price, even in PacHeights

  10. jose is correct: TICs.
    anon: perhaps it was the taller modern house immediately to the west, formerly Mrs. Stevens’ house, that sold for under $2m. How much did these sell for? It is a recent purchase of the last two years or so.
    They still have the rent controlled famous tenant. If they try to evict, and he objects, the publicity would be unfavorable.
    Still charming, very SF, and a convenient location. Some people, but not most, will object to the noise of the school across Green.

  11. I can’t disclose the price.
    conifer, considering the location right off of franklin and across from the school, what do you believe fair market value to be today? I feel the current price point is too high considering…
    Jose, why do you think these two units could not be eligible for condo conversion? A two unit TIC arrangement is the easiest to condo convert.

  12. He is not famous, but his grandfather, whose name he has, was the leader of the free world. I do not want to offend him by saying any more.
    The price does not depend on the proximity to Franklin, or to Gough (much used as a through street uphill from Lombard to the one-way portion south of Sacramento.) It depends on the money and emotional cost of the work, but it will sell for market value for Pacific Hts when done. As I mentioned, the charm factor, the ruralness of it, is hard to find in Pac Hts, almost like the hidden areas of Russian Hill.
    On Vallejo, north side, between Franklin & Gough, there is another PacHts rarity, the Burr Mansion, now restored to a single family house, surrounded on all sides by its own gardens, with driveway, garage and a separate small house in the back.
    These situations rightly command a premium.

  13. I think even the “famous mansion” premium is starting to erode. Check out 2151 Green, it’s some mining mogul’s old pad. Sold for $9MM last December, now on market for $8.9MM.
    [Editor’s Note: Be careful when comparing apples and oranges (the full story on 2151 Green).]

  14. Dude, single family residences, either in nice condition or with “good bones” in PacHts are still holding their prices well, according to a broker friend who follows this avidly, daily.
    What is falling in this area are TICs and condos, and houses with unfixable problems.
    The strength of this sub-market is surprising, given that even the best areas of NY and London are wobbly.
    If this “rural” property were all done, it would probably sell immediately, but whether there is a profit for a developer in it is beyond my knowledge.

  15. so this sold for 2.2+ What was the original list in 2008 before they cut it to 2.5?? This will be a great compound in a sweet hood someday

  16. I’ll ad that i suspect the very long escrow was time for the buyer to work o plan approval w/ the city, etc as a condition of purchase. can anyone fill us in?

  17. As a plugged-in reader notes, the sale of 1629-1635 Green Street closed escrow on 10/21/09 with a reported contract price of $2,287,500.
    No update on the state of the proposed additions and renovations.

Leave a Reply

Your email address will not be published. Required fields are marked *