As we wrote last month:
In addition to the City’s sale of 909 Tennessee (the next tour of which will be October 12 at 2 pm), two of the City’s Octavia Boulevard parcels are on the block and seeking bids.
The minimum bid for the 11,275 square foot Parcel H on the southwest corner of Gough and Grove is $2,950,000 while the minimum bid for the 17,398 square foot Parcel J on the north side of Hayes between Gough and Octavia is $4,450,000.
Sealed bids on the two parcels are due by October 26. Both parcels are zoned for mixed use housing under the Market Octavia Plan.
Parcel H ended up selling for three million while Parcel J sold for five. And with respect to 909 Tennessee, its last open house is scheduled for Tuesday, November 9 at 2:00 PM.
∙ Seeking Bids Brought To You By The Letters H And J [SocketSite]
∙ 909 Tennessee Scoop: Spruced Up And Soliciting “Fire Sale” Bids [SocketSite]
∙ RFPs For Housing Along Octavia Boulevard [SocketSite]
∙ Invitation to Bid: Parcel H (Block 0793/103) [sfgsa.org]
∙ Invitation to Bid: Parcel J (Block 808/039) [sfgsa.org]
∙ Market-Octavia Plan And Requisite Rezoning Approved By The Board [SocketSite]
$255/SF on the dirt, that’s reasonable. I have a deal marketed at $300/SF on the dirt, but is significantly smaller (thus the higher price) and in an equally good area. I am sure the City will get the asking of $255/SF, but not much more.
[Editor’s Note: As reported above: “Parcel H ended up selling for three million while Parcel J sold for five (million).”]