Having been in default for well over a year, and with a forced sale that’s been pushed down the road for nearly as along, 425 1st Street #3306 is once again scheduled to hit the courthouse steps tomorrow afternoon.
The 1,238 square foot One Rincon Hill two-bedroom was purchased for $1,302,000 in May of 2008 with 20 percent down ($260,426) and a note for $1,041,574. The unit above (#3406) sold for $1,307,500 eight days later.
As plugged-in people know, the sale office sold 425 1st Street #3906 for $960,000 in early 2010 having had it listed for $1,295,000. Five months ago, the sales office sold #4306 for $985,000 having had it listed for $1,383,000 early last year. And this past April, the sales office moved #4906 for $1,125,000 having had it listed for $1,295,000.
∙ The Latest (By Two Weeks) One Rincon Hill “06” Comp [SocketSite]
∙ 2008 Versus 2011 At ORH With Some Courthouse Steps In Between [SocketSite]
great info SocketSite, but when we start juggling 3-4 units with list and sale price I think a table would bring a lot more clarity than a paragraph description
My thoughts exactly.
I’ve asked for tables in the past. No tables for you! #SS
3306 2008 1,302
3406 2008 1,307
3906 2010 960
4306 2011 985
4906 2011 1,125
3306 2011 ???
From another thread:
1306 2006 975 (tax record estimate)
1306 2009 930
You’re welcome.
My guess is that it’s technical, and that socketsite’s blogging platform (Movable Type?) won’t allow for HTML tables inside of posts. I haven’t done any checking to see if that’s in fact the case.
^^^ how about simple paragraph returns…
Formatting issues aside, I’m really struggling to understand why there is such a substantial premium put on higher floors in some of these buidings. Particularly when there is often no significant difference in terms of actual view. Obviously the higher the better but for ORH I suspect that being on the 33rd floor is more or less the same as the 39th floor.
Some posters have predicted $450-650sqft here.
425 1st 06 stack 1238sqft:
2008 #3306 $1,302,000 $1051/sqft 20% down
2008 #3406 $1,307,500 $1056/sqft
2010 #3906 $960,000 $775/sqft listed $1,295,000 -26%
2011 #4306 $985,000 $796/sqft listed $1,383,000 -29%
2011 #4906 $1,125,000 $909/sqft listed $1,295,000 -13%
Having lived there, I think 30s floors are about the best as they face right at the cityscape. 40s and 50s probably look down and lose some grandeur. Stack 6, though, has the problem of intense afternoon sun.
That said, 3306 at $900k would be tempting..
30 is definitely not superior to 40 or 50 in the 06 stack.
30 barely clears the Metropolitan directly in front North. You also have future view obstructions from 40 story Turnberry and Fifield sites.
The higher you go the more water you will get to the east also (Yes EAST view), because it will clear the buildings along the waterfront on the east.
Once you go above 45 or so you start seeing the pacific ocean over the city skyline to the north.
Also the “06” floorplan basically stops on 50th floor. 5105 and 5405 (North West) are basically the same but slightly different.
Someone said list? Here are two. The first is a summary of all the units with sizes, last sale date, and in some cases the price. The management is pretty good a keeping the selling prices out of the public record. The second list is 2011 sales with prior sale data and price, if available. Both are PDF. Have fun!
http://www.box.net/shared/g8zg4a1hfredodbdx2tf
http://www.box.net/shared/34rq85jb90bf7u5hxm8z
Slightly off topic but I haven’t seen any updates on the infinity. I’m interested in buying there.
Shaetzer, your lists are very helpful. Agents try to hide prices in order to maintain job security and thereby make buyers less informed on purpose. do you have one for the infinity?
The data in Mr. Schaetzer’s lists is interesting. I realize some information could be public, but may also be sensitive. Is it the usual practice of this site to post the names of buyers and sellers? Schaetzer (or Socketsite) should consider reposting the information without individual buyer and seller names.
All of the information is Public including all recorded liens and deeds of trusts on the properties. This is Real Estate Reality in the 21st Century.
The only thing you can do is hold your properties in fictitious names as in trusts, llc, corporation, etc. And even then, it usually can be easily traced.