1750 Taylor #1803: Living

As we wrote in February:

Purchased for $2,550,000 in December 2007 and unsuccessfully listed for sale five times since with prices ranging from $2,700,000 to $1,900,000, the Royal Towers (1750 Taylor) #1803 is now back on the market MLS and listed for $1,995,000 as a short sale.

The new listing at 22 percent below its 2007 price touts “Quintessential Russian Hill Co-Op.” And yes, the listing now includes an obligatory reference to the America’s Cup.

The sale of 1750 Taylor #1803 has now closed escrow with a reported contract price of $1,775,000, down 30 percent ($775,000) from its sale price at the end of 2007.

7 thoughts on “Royally Short On The 18th Floor At 1750 Taylor”
  1. Another down payment in heaven! Down 30% since 2007? That’s a pretty standard sort of loss for an SF property purchased back then.
    I’m glad I didn’t listen to my realtor who told me back then that prices would be rising at 5-10% a year for the foreseeable future!

  2. At the current rate of exchange, $1,775,000 USD is equal to 1,200,000 Euros.
    In Paris at the moment, at the rate of 10,000 euros per square meter in an acceptable but not excellent location, with no view, this will buy 120 sq meters, or just under 1300 square feet.
    So in a sense, this Russian Hill view apartment is a bargain. So are most of the best areas of San Francisco.
    However, Paris continues to go up. Some people speculate it is a bubble fueled by the low interest rates of the European Central Bank, located in Germany but run by Trichot, a Frenchman.
    London and New York are bouncing back.
    Of course SF is not NY, London or Paris, but for a long time, the prices (north of California St) were not much different.

  3. Those Parisian prices are just insane. That’s a big crash just waiting to happen.
    Prices in the late 90s were in the range of 1500/4000 Euro per square meter. Today you cannot find anything under 5000, and anything decent under 7000. Coincidentally, interest rates have been stuck under 4% for more than 5 years.
    When prices started going out-of-whack in 2005, the response of the government was to give out government-subsidized 0% loans for a few 1000 Euros. Yeah, that will make things more affordable! It naturally triggered another run-up. And every year they come up with an extension of the plan and an increase of the upper limit.
    A new nugget this year is that these 0% mortgages have become even bigger and can be used as a downpayment. 0% down! Way to go!

  4. conifer, on what do you base your observation that NY is bouncing back? I don’t pretend to follow that market, but my sister-in-law has been looking in Brooklyn, and she reports that things are a lot like here – not a whole lot of activity and bouncing along the bottom or moving lower. Places are still expensive, of course, but she is spooked about buying because it looks like prices are still generally falling. According to CSI, NY just hit a new post-crash low, both in the aggregate and at the highest tier. I’m just wondering if this is solid information you have or just surmising based on something much less solid.

Leave a Reply

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