8 Buchanan Street (Linea)

Purchased at the end of April for $1,199,500, or roughly $1,150 per square foot, the 1,043-square-foot condo #610 at 8 Buchanan (a.k.a. Linea) returned to the market two months later listed for almost $200,000 more ($1,375,000).

8 Buchanan #610 Living

After three months on the market, the sale of the two-bedroom condo closed escrow today.  And while the reported contract price of $1,320,000 was $55,000 less than its original list price, it was still $1,266 per square foot and 10 percent higher than the contract price which was paid five months ago.  No word, however, on when the previous contract price had been negotiated.

At the same time, the sales office for Linea has recently reduced the asking prices for at least two of the remaining unsold units in the development and a couple of other quick flips in the building have been listed for sale over the past month but nothing else has moved.

Comments from Plugged-In Readers

  1. Posted by John Kirkpatrick

    Good news for the other owners; we deeply appreciated all the attention. The price exceeded the seller’s expectations.

    • Posted by [SFdeveloper]

      despite the horrible staging….

    • Posted by Faceword

      John, can you reveal anything about the motivation for this short term hold? Did the sellers have a job change requiring re-location?

      • Posted by Tplt

        I live in the building as well and have heard through the grapevine that the seller bought the unit intending to relocate to SF for a job that for whatever reason didn’t pan out.

  2. Posted by observer

    agreed – has to be the worst staging I’ve ever seen…

    • Posted by SFrentier

      Why? There’s almost-a-Frank-Stella on the wall in the second pic.

  3. Posted by curmudgeon

    boring boxes for $1.3 million. Feels like 2007 all over again.

  4. Posted by DM

    The hideously cheap looking aluminum foil covered window panels of an upper floor unit on the Market Street frontage has finally been removed. Good things are worth waiting for.

  5. Posted by observer

    the aluminum window coverings were obviously temporary as someone waited for the final product to be installed…

  6. Posted by MarketSt

    Being walking distance to your workplace, many dozens of world class restaurants, bars, venues for ballet, opera and symphony….it might still be underpriced.

    • Posted by ess

      “many dozens” might be overstating it a bit.

      • Posted by BobN

        By many dozens, in fact.

      • Posted by NoeNeighbor

        Yeah there are lots of good restaurants in the area but how may are “world-class”? Rich Table is a contender.

    • Posted by SFrentier

      And the restaurants now basically blow in the Castro. There used to be good ones, but all have gone downhill, inc., unforch, cafe Flores.

      • Posted by Sierrajeff

        If you think Cafe Flore is the high point of Castro gastronomy, then you are in trouble.

        • Posted by curmudgeon

          I do miss the old Flore. Not because it’s a culinary high point, but because the space is so comfortable, and the food was good for what it was. Now they’ve converted to table service, and I believe they’ve cut out weekday morning breakfasts as well. So they’ve converted an incredibly comfortable café to a restaurant. Big Mistake IMHO (and a total thread hijack that I shouldn’t be supporting).

          On the dozens of restaurants theme…we’re not just talking Castro..this building is equally close to Hayes Valley and Church Street corridor. Plenty of choices.

      • Posted by anon

        eh? Frances, Fable, Starbelly, Anchor, Bisou, Poesia, Eureka … all good to great. Either you don’t know food or you don’t know the current Castro scene for food.

      • Posted by JR "Bob" Dobbs

        Yeah, that’s a crazy statement. The Castro restaurants have generally been horrible for 25 years. They are far, far better now than they used to be.

  7. Posted by EcceMorons

    “Walking distance to your workplace.”

    Yeah, if you work at Kinko’s.

    • Posted by Tplt

      … or Twitter, Square, Uber, etc, etc

  8. Posted by bee

    Could we tone down the nastiness a bit?
    When did this become a snark contest?

    • Posted by BobN

      Hyperbole is the chum of the intertubes…

  9. Posted by grrr

    How do we know that it was someone NOT in the development team that got this unit?

  10. Posted by john Kirkpatrick

    The short term hold was not based on “flipping” at all – the seller’s decision to sell was personal. All the socket site and related attention were quite helpful in terms of marketing the property. Ironically, I know additional interested buyers and hope for another ideal Linea listing soon. The finishes, location and floor plan are ideal in The Linea. The Roof Deck is pretty amazing considering the outdoor furniture and views.

  11. Posted by Willow

    This place is not going to be undervalued anytime soon… SF is not Manhattan, Paris or London.

  12. Posted by LineaOwner

    As an owner I’ll share my (obviously biased) 2 cents:

    – you can’t beat the location
    – it’s the best design of all the new construction (tho I know you’ll argue)
    – the quality of construction is superb: the building is *all concrete* not wood-framed (like some 8 story buildings). This little fact makes a huge difference—it’s very quiet—and what differentiates Linea from every other condo in the neighborhood—unless you want to live in that prison next to the freeway (8 Octavia).
    – the rooftop is pretty amazing too—there aren’t dumb amenities costing high HOA fees.

    You can squabble all you want but you won’t find the perfect place in SF—unless you have vast amounts of wealth. I’d say this building is pretty hot. But what do I know…

Comments are closed.

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