CFAH

1940 Broadway #6 Living
Having traded for $4,911,000 in March of 2008, the full floor Pacific Heights co-op Unit #6 at 1940 Broadway (“The Heights”) resold for $4,200,000 in March of last year.
1940 Broadway
Listed for $4,350,000 this past September, the sale of 1940 Broadway #6 closed escrow today with a reported contract price of $4,000,000, down 5 percent ($200,000) on a year-over-year basis, down 19 percent ($911,000) versus March of 2008.
And while we still can’t confirm, if a plugged-in reader is correct, the unit quietly traded for $4,100,000 in February of 2010 as well (and it hasn’t been occupied since 2008).
A Heights Of The Heights Apple Returns (1940 Broadway #6) [SocketSite]
A Quick Sale At (And From) The Heights [SocketSite]

Comments from Plugged-In Readers

  1. Posted by Legacy Dude

    Something I’ve always wondered about these “marquee” buildings: does anyone actually even live here, or is this just a wealth monument?

  2. Posted by anonarch

    Just put the building on wheels and move it to the Mission or Noe Valley and then hipster millionaires who commute to their south bay offices would be all over this unit. Or maybe not.
    So called “Urban” buyers in Noe Valley prefer back yards, garages, and therefore single family homes. This tower was built at a time when affluent buyers desired iconic views, great architecture, and high density neighborhoods close to the city center.

  3. Posted by El Bombero

    Good to see that prices are still going down in the real SF.

  4. Posted by eddy

    I’ve followed this building closely for some reason. The tale of #6 is a strange one. Property Shark and MLS have the 2010 sale at $4.1 so I’m sure that is real. The original 2008 sale went over asking ($4.35) by $560k. They overpaid 🙂
    #8 closed at 3.95 in 2010 as well. The top sales are just over $5.075M in 2007 for #7 and $5.7 in 2007 for #9. The #7 sale was “mis-reported” as $5.245 when in fact it closed below asking by 200k in Feb 2007. Very few things sold for under asking in 2007. I’m sure the buyer of #9 in May of 2007 would have liked to know the actual price of #6.
    Still, all these sales are well over $1k/psf so we’re talking high class problems. Great building.

  5. Posted by Rillion

    If the building is so great why is everyone so eager to sell? By your count #6 has been sold four times in five years, while #7, #8, and #9 have all sold in the last five years.

  6. Posted by eddy

    Correction:
    I’m sure the buyer of #9 in May of 2007 would have liked to know the actual price of #7.

  7. Posted by sf

    @anonarch
    How is this building considered anything near the city center? It is about as isolated as Noe Valley- even more so because of the steep hills. Where is the nearest produce market? Coffee shop? Yoga studio? Sushi bar? This building actually requires you have a car more so than Noe Valley, which is lucky to have a MUNI metro connecting to BART. This is nothing more than a taller version of a McMansion.

  8. Posted by bossmillion

    @sf
    I live two buildings over, Laguna is our cross street. 2 blocks downhill Green Street Market (Laguna/Green) has produce and Starbucks/La Boulange are another block down (Laguna/Union).
    I can and do walk to everything I need via Union, Fillmore, Chestnut. A few good sushi spots…not into yoga…

  9. Posted by sf

    bossmillion-
    this building is situated on top of some of the steepest hills in the city. That detracts from the incentive of walking as it makes them even further away.
    I also live in a pretty car centric locale but I still walk the 3-4 blocks to nearby Clement st. for groceries, dining, shopping, etc. so I commend those that make the extra effort.
    However, what I was addressing was the claim that this property is some type of urban trophy. I bet that every resident in the building owns at least 1 car and drives to the markets (or has their butler drive). I just don’t see this type of clientele walking 4, 5, or 6 blocks, some of them with hazardous slopes, for everyday necessities.

  10. Posted by futurist

    Wow! Noe Valley is “isolated”. If you look at a map, it’s almost right in the center of SF.
    Didn’t know we are considered isolated. I can walk to the J church in 5 min to get almost anywhere downtown, or to BART. We have awesome Church St. produce, lots of restaurants and shops along Church St. and on 24th St.
    I guess our “isolation” is one of our great secrets, and, of course why it’s fairly expensive to own here.
    🙂

  11. Posted by anon

    I live in Concord. It’s right in the middle of everything too! I can walk to BART in 5 minutes to get almost anywhere downtown.

  12. Posted by Mark F.

    Stunning apartment!

  13. Posted by Mark F.

    anon:
    Living in Concord you’d want to get out as much as possible. Getting off at the Concord BART and walking around is a sure way for me to get depressed.

  14. Posted by Mark F.

    anon:
    Living in Concord you’d want to get out as much as possible. Getting off at the Concord BART and walking around is a sure way for me to get depressed.

  15. Posted by The Milkshake of Despair

    Yeah the area around Concord’s main BART station is not very inspiring. Next time walk ten minutes north towards Todos Santos Plaza which is the defacto downtown of Concord.

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