As we wrote in June of 2008:
We’ve always loved the William Randolph Hearst built Beaux Arts building at 1001 California Street, both in terms of location and style. And as far as we know, the 3,500 square foot #9 was the last unit to change hands
eighteensix months ago (12/12/07) with a reported contract price of $2,888,000.
And while unit #8 is only a one-bedroom, it is rather large (1500 square feet) and offers multiple terraces and “views for miles.” Asking $2,495,000 which doesn’t include a parking space or the $2,237 monthly dues. Once again, if you have to ask…
Last September the list price for #8 was reduced to $1,750,000. And last night the list price was reduced to $1,195,000. Purchased for $1,460,000 in June of 2000, a sale at asking would represent an 18% drop in value below its year 2000 pricing and a 52% drop in expectations over the past year. Then again it is on the south side of California.
And non-sardonically, we wouldn’t be shocked to see multiple offers at this point.
∙ Listing: 1001 California Street #8 (1/1.5) – $1,195,000 [MLS]
∙ One Expensive One-Bedroom In A Beaux Arts Building We Love [SocketSite]