As we first reported when 465 10th Street #401 hit the market this past December:
One of two lofts kept by redeveloper George Hauser before being lost to the lenders this past May, 465 10th Street #401 has hit the market listed for $895,000.
In addition to two bedrooms, two bathrooms and two car parking, number 401 features a two story great room with wood burning fireplace and direct access to a 900 square foot exclusive use deck with San Francisco cityscape views.
The sale of 465 10th Street has now closed escrow with a reported contract price of $897,500 ($641 per square foot), officially “over asking” by $2,500 but a bit less than we were expecting considering the design, quality of finishes and views.
As always, don’t forget those invitations to the housewarming, preferably on a clear night.
∙ Behind The Scenes At Stagehouse Lofts (465 10th Street) [SocketSite]
From the prior thread:
“By far the most crowded open house I went to today”
Yet it only went for $2500 over. That goes to show you the restraint buyers have in the current market. In 2005, the open house traffic alone would have had some fool bidding $150K over, and then thinking he got a “deal” when it came time to sell.
Still seems to cheap. Or am I just out of touch?
^^^ Perhaps some aspects of the disclosure dissuaded some buyers. In the original thread there were some questions about this building’s seismic robustness.
That’s all I can think of. Otherwise I agree that the price seems low for what looks like a really nice place.
It looks beautiful…and actually affordable (for us)? There MUST be something going on…would this place be hard to heat? Shivering in this place year after year might get old…
The fear factor for me here would be if the adjacent empty lot gets developed into something tall enough to fill in those windows. There are views that you own, and then there are views that are just…. borrowed….
Love the building, but the neighborhood is still dominated by non profit mafia housing hell holes and its resident zombies. When you have a million bucks to drop, you go elsewhere. Unless you want to open a bar, a sex club or a pot dispensary.
I was at said open house, and spent a long time getting a feel for the space. It has some quirks that I believe kept anyone from making a “gotta have it” offer.
The main loft is low, causing the entrance and kitchen area to feel a bit claustrophobic. The second bedroom is crammed into the corner, up a couple of steps, such that the bed overhangs and the bath and closet are tough to access. Also, the immediate location on 10th Street, directly across from Costco, is totally grim (my biggest reservation).
On the other hand, it’s the real deal, a conversion loft with great light, a nice (if slightly small) entertaining space and plenty of concrete and timber funk. And that private deck is sweet.
I was guessing it’d go for around $925K, but I’m not shocked at where it settled.
^I think everyone needs to reset their expectations downward, bit by bit.
Tenth Street is basically a highway there 24/7 thanks to the 101 onramp just 2 blocks down. I would think this would dampen enthusiasm a bit.
Yea, totally a highway onramp and homeless hideout. Though if you are bored you can walk to Costco.
Newsflash, don’t buy a place near an onramp or offramp. These include One Rincon, Beacon, Berry Street, this Soma s hole, lofts on Harrison. Style matters, location matters. Walking around matters. San Francisco is a city to walk around, you don’t want to live in an area where cars are picking up speed to get on the highway.