855 Folsom

Purchased for $649,000 six years ago, returned to the market in December 2008 asking the same but withdrawn from the market in February 2009, by January of 2010 the then owner of 855 Folsom #102 was $22,813 pas due on a $519,200 first mortgage alone.

855 Folsom #102

Last month, the Yerba Buena Lofts one-bedroom sold on the courthouse steps to a third party at the opening offer of $433,500 cash. Today, 855 Folsom #102 returned to the open market listed for $519,000, twenty (20) percent below its sale price in 2005.

Comments from Plugged-In Readers

  1. Posted by Stanley's Tomb

    Love to get invited to parties in the Saitowitz tombs, but could never live in one.

  2. Posted by curmudgeon

    Is this one of the ground floor ones? I admit I hate the building (except maybe the units with roof decks). But the ground floor units were a particularly wasted opportunity. They are clearly meant to be “live/work”, but their street presence is so awkward and unfriendly that they don’t really work as any kind of public serving space, rendering that whole blockface dead. But who want to live on street level in that location either. The developer of the building should have put in at least SOME genuine retail/restaurant spaces to enliven this block. Just ick.
    But again, I admit it, I am a died in the wool Saitowitz hater. I don’t say that about many architects. And I don’t agree with NoeArch/Futurist very often either.

  3. Posted by Mole Man

    It’s funny that Saitowitz threads always draw out critics, but the market still prices his work at a premium. Like punk rock, it may be that part of the point of this style is to annoy right thinking people. I love this building, but the units are too small for much more than basic living which is largely a function of the highly desirable location. Like Mint Plaza you have to really want to be right there to justify the cost.
    The way San Franciscans deride Saitowitz while his work gets bid up to top dollar prices reminds me of how folks in Menlo-Atherton can’t stop complaining about the trains adjacent to which just happen to lie some of the most desirable and expensive properties in the whole town.

  4. Posted by badlydrawnbear

    love the building, like the unit, but ground floor on Folsom?!?!? Ugh, no thank you (at any price).

  5. Posted by [anon.ed]

    Speaking of apples, and not speaking of comparing condos to SFRs, I think there was an apple that closed yesterday. 826 Capp in the Mission. No new permits, photos look similar, scarcely even a paint job seemingly and up 240K from 5/11/07.

  6. Posted by Saitowitz

    I am not an licensed architect. Click my name to search for yourself.

  7. Posted by lolcat_94123

    “The way San Franciscans deride Saitowitz while his work gets bid up to top dollar prices”
    Since when is $433k in SF considered top dollar?

  8. Posted by sf

    Great building. I pity those that live in 100 year old wood frame houses with 3″ walls. I live in one now as a rental and I have overheard my neighbor’s secret Borscht recipe countless times.

  9. Posted by VancouverJones

    So much for thinking outside of the box…

  10. Posted by yao

    i love punk rock but hate Saitowitz

  11. Posted by John

    How can the listing say the following?:
    “Unit Last Sold for $649,000 in 2005.”

  12. Posted by calhousebear

    Wow not sure if this is the one but I put a bid on one of these places about 20k below the asking around 2005 and got soundly rejected by the seller — so thank you seller for saving me over 100k!
    I’ll be surprised if it gets 519 — somewhere south of 500k. Units are solid but very small….and the building must be filled with owners who are trapped with negative equity….

  13. Posted by sf

    When is the Saitowicz project on Buchanan/ Market going to break ground?

  14. Posted by Mole Man

    Since when is $433k in SF considered top dollar?
    These are selling at $619/sqft when it cost less than a third that to build. Even at $450/sqft, which seems to be where most of SOMA is headed, this place shows the power of location and style.

  15. Posted by John

    Let’s be honest please, these units (at least the bottom floor ones) are just atrocious. A friend lived in one and we visited often. It is akin to living in a concrete block in a prison. The lighting is awful, there is no privacy for the upstairs bedroom, the circular staircase is a hazard to the head of anyone walking by it, the kitchen is cramped, the bathroom is pedestrian. It is hard to believe anyone pays anything to buy these.

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