As has already been noted by a reader, the sale of 141 Beaver Street closed escrow on 7/9/09 with a reported contract price of $1,650,000* (note UPDATE below). Originally asking $1,850,000 and sold for $1,650,000 in November 2002.
Also closing escrow on 7/9/09 was 768-772 Green Street for a reported $4,320,000. Purchased for $4,370,000 in June 2007 (originally asking $4,600,000).
UPDATE: It appears we missed an MLS sales price asterisk (i.e., the reported price isn’t the actual sales price) with respect to 141 Beaver. We’ll see what we or any plugged-in readers can dig up. Cheers.
∙ 141 Beaver: Let There Be Light And Air (And A Sweet Little Back Yard) [SocketSite]
∙ Green Street TIC Trio (768-772) Now Playing Back In North Beach [SocketSite]
Did anyone hear what the buyer of Green Street plans to do with the property? I don’t think that anyone expects $1mm+ TICs to sell very fast in this market and it would be tough to make any money as a rental since taxes and insurance alone would be over $1,400 a month per unit.
“Did anyone hear what the buyer of Green Street plans to do with the property?”
Stage 1: Acquire property.
Stage 2: ???
Stage 3: Profit!
Does anyone know what 198 Castro St. reportedly sold for? It was on the market for about four months and is now showing “sold.”
are you sure about the reported sales price for Beaver St.? the MLS has an asterisk (*) next to the sales price, which is the same as the asking price.
[Editor’s Note: Damn those asterisks (and cheers to you). Note UPDATE above.]
When (and how) can folks figure out what the actual sales price turned out to be?
“Did anyone hear what the buyer of Green Street plans to do with the property?”
Buy, sell, repeat, retire………
I don’t get the pairs of points/curve comment for Green St – are you suggesting the price would have been even higher post 2007?
DanRH: The assessor/recorder’s office currently has about a 2-3 week lag time between recording and when the info is available to the public. You can wait and haul yourself to their office to look up the info. in person in two weeks or so or better yet, hopefully Property Shark will have picked it up around the same time and report the sale price.
re: 198 Castro St.
PropertyShark indicates ~1.9M$ first and 500K$ second. I’ll wager that the house went for less than sum of first and second.
Nice place though.
Hey.. nice beaver!
Thank you. I just had it stuffed.
Green Street housed 3 families that had tried to purchase the building themselves. One of the families ran a home day care center, they are wonderful people and their family is missed in NB. Many of our neighbors missed the feeling that block used to have when there was the pitter patter of little feet. I hope the investors are happy about their contribution to the landscape.
There was some talk of 198 Castro here (not too far from our place, so I shared the curiosity). Big house. I see that it just closed at $2,349,000. $608/sf. Jeff’s prediction was correct!
Funny how no one has commented on the reported selling price of Green being less than 1.2% from the 2007 selling price, and it didn’t take 18 months, as predicted by some.
And nobody has commented on the fact that the Ellis acting is now more than 5 years old, which has an impact on price. In 2007 you were stuck 2 years with no rental income. In 2009 you’re free and clear and that changes desirability (and price)
1000/sf still. That’s a great price. Great location though on the wrong side of Columbus for me imho. I don’t see a great rental income ROI there, but maybe they’ll merge it into one unit like on 30-32 Castle? Paying trophy property prices for a 3 units building doesn’t make much sense but then again this is SF where there are more dollars than sense…
The thread should have run on May 1st instead of March 12 in order to keep the apple cart intact.
Beaver went close to $1.8M