One of only a few duplex units in the two towers of the Infinity, 338 Spear Street #39C was purchased for $1,760,000 with three bedrooms and two and one-half baths in April 2010.
Last year, permits were issued to reconfigure and add a shower in the half-bath, and to add pocket doors between the bathroom, bedroom and living space on the main floor.
Now sporting three full baths, a remodeled kitchen, and having recently been measured at 1,800 square feet inside and 470 square feet out, 338 Spear Street #39C is back on the market, but not yet listed, and priced at $3,200,000.
Full Disclosure: The listing agent for 338 Spear Street #39C advertises on SocketSite and provided a preview tour of the property but no compensation for this post.
That view is sexy. It sounds like a lot of buyers who bought into the second tower are now sitting on a goldmine. Wish I had invested.
yea no kidding.
“Now sporting three full baths, a remodeled kitchen”
“Last year, permits were issued to reconfigure and add a shower in the half-bath, and to add pocket doors between the bathroom, bedroom and living space on the main floor.”
So no permits for the kitchen remodel? Or is it an old remodel?
I live in one of these Duplex units. The kitchen isn’t really a remodel – looks like the island was modifed to extend to the wall. Overall though nice work. Not sure what the glass sliding door is accomplishing though.
RE: “Full Disclosure: The listing agent… advertises on SocketSite and provided… no compensation for this post.”
There, in one disclaimer, lies the single most scary conceit of internet culture: that the rules do not apply. We’re talking rules of human nature, long settled. So here is how I would have worded it:
“Full Disclosure: The listing agent for 338 Spear Street #39C advertises on SocketSite and provided a preview tour of the property. So obviously we were compensated for this post. We are classy however, so therefore we thought it was appropriate to inform you of this FACT.”
Rock on.
good investment. nice return.
@ Stucco_sux
Do you have any idea how many stories in the media (online and traditional) are placed due to advertisers’ influence?
The above level of disclosure is saintly compared to much of what is out there.
Rock on.
Yeah, I can’t think of a single reason, besides advertiser influence, that this spectacular apartment would be covered on a real estate site…
nice to see some color on the walls.
So adding zero square feet, zero new rooms, but a shower and a few pocket doors somehow adds $1.44MM (82%) in value to a san francisco condo in a terrible economy?
Are there THAT many gullible facebook millionaires ready to flush their newly scammed cash down the toilet so readily?
Why the odd step up to get into the shower?
It doesn’t look like there is anything to hold onto as you climb in and out of it.
A big step like that seems to defeat the purpose of a “walk in” shower.
The shower step up is most likely for plumbing lines since there is no natural gravity to exhaust water/waste from that location.
Stucco_Sux: I think you will find that the editor of Socketsite regularly posts unflattering facts + stories about projects + developers that advertise on his site. If anything the editor tends to be skeptical of developers’ claims, which I’m sure has cost him some advertising dollars over the years. To suggest that he sucks up to advertisers is way off.
@wha,
Living at the Infinity, it’s been interesting to see many residents (esp. Tower 2) now perceive that they’ve struck gold after seeing a few units sell at a massive premium to the purchase price 2 years ago.
201 Folsom and other new developments are in the pipeline. But for the newly minted millionaire, there isn’t a ton of inventory if your requirement checklist is: (1) new, high rise condo building, (2) 3br+, >1500 square feet, and (3) south beach location with water views.
I’ve also noticed a spike in listings for Infinity units with West facing views. I’ve heard the reason is that owners want to capture the high valuations of Infinity units before the construction crews move in for 201 Folsom. After all, good luck selling your unit at a 50-75% increase when your prospective buyers stares out the window at construction cranes for the new tower that will block their view.
Any informed buyer (past and future) with the west facing view should’ve have already known about 201 Folsom.
@TP,
Agree for any informed buyer, this is obvious. But given the asking prices for West facing units, I presume some sellers may be hoping to get lucky with an uninformed buyer who may be trigger happy for the Infinity and not thinking ahead.
Overall I find it hard to believe the recent spike in asking prices for Infinity units is sustainable.