While currently only permitted for office use, the 2,760-square-foot brick and timber SoMa warehouse at 32 Heron Street has been seismically retrofitted and outfitted with two bedrooms, a designer kitchen, hardwood floors and a two-car garage behind the roll-up door which is just down the street from the LEVYdance studio.
On the market for $1,495,000 in 2007, the warehouse failed to sell and has since fallen into foreclosure.
And this afternoon, 32 Heron is scheduled to hit the courthouse steps in San Francisco with an anticipated opening bid of $1,026,977.
Are these auctions scheduled beforehand? How does one know when and what is to be auctioned? Are they still on the Van Ness City Hall steps?
If you don’t already know the answers to these questions, this is not for you.
UPDATE: The warehouse at 32 Heron sold for $1,207,000 in cash on the courthouse steps.
I would have paid 1,208,000
If it’s only permitted for office use then presumably any future buyer who didn’t pay all cash would have to get a commercial instead of a traditional home mortgage. These have a much higher interest rate.
If it is only permitted for office use, do all of the residential improvements have to be removed? Were these improvements permitted? Will there be a code enforcement person checking at 3:00 a.m. to make sure nobody is sleeping overnight there?
Eddy, did you have $1,208,000 all cash?