Purchased for $2,600,000 in 2006 by the former CEO of the now-defunct PlanetOut, and having failed to sell in 2010 when listed for $2,479,000, yesterday the Mark Brand designed contemporary Noe Valley home at 4381 26th Street sold for $2,300,000, two (2) percent under asking and eleven (11) percent below its year 2006 sale.
And yes, 4381 26th Street’s wood and value have weathered the storm a bit better than 2523 Steiner.
∙ The Wood, The Stone, The Windows…Oh My! [SocketSite]
∙ 4381 26th Street Listed At 2006 Price And Looking For A Repeat? [SocketSite]
∙ No 2006 Repeat For 4381 26th Street In 2010 And Now Back In 2011 [SocketSite]
∙ Pacific Heights For 50 Percent Below 2006 Expectations And Debt [SocketSite]
Not as big a loss as I would like to have seen, but it’s still a decent sized 400-450k hit on a 5 year hold, so as a confirmed bear I’ll take it.
Facade looks pretty good. I like the house number plate they added.
true, the absent seller lost a bundle, but at $2.3 m or $700+ psf (for a large place), I have to say this sale encourages me (a nearby owner) about the state of the market in my nabe.