The Park Hill penthouse unit #701W which was purchased for $1.1 million five months ago returned to the market listed for $995,000 in May.

This past Friday, the sale of the renovated one-bedroom quietly closed escrow with a reported contract price of $1 million, officially ‘over asking’ according to industry stats but $100,000 (9%) less than five months ago on an apples-to-apples basis.

Built as St. Joseph’s Hospital in 1926 and cast as the sanatorium in Alfred Hitchcock’s Vertigo, 355 Buena Vista Avenue East was converted to the Park Hill condominiums in 1986.

355 Buena Vista Avenue East: The Park Hill

Comments from “Plugged-In” Readers

  1. Posted by Mark F.

    A very nice unit, but I don’t like that your guests have to literally go through your closet to use the john.

  2. Posted by JR "Bob" Dobbs

    Yes, a very nice unit. But $1 mm for this little place is psycho, although not as crazy as $1.1 mm, I guess. That was a quick 15% loss (inc. closing costs), or for those who like to tout the “benefits” of leverage, a quick 70% loss assuming a 20% down payment. Sales like this are good to provide the market with intel about what the realistic high value is.

  3. Posted by anon$random

    doesn’t every transaction quietly close escrow?

    • Posted by AnonAnon

      Some closings are ruckus affairs, with DJs, champagne, dancing, shouting.

  4. Posted by Willow

    Is it me or does this unit seem really poor value at such a lofty price point? $1MM for a 747 SF one bedroom in that location seems really high even in today’s market. You could rent a lot nicer place than this and save money to buy during the next downturn. I hope the new buyer doesn’t plan on selling any time soon.

  5. Posted by Mark F.

    You can rent a very nice 1 bedroom for $3500-4000 a month, I should think

  6. Posted by New to SF

    You can’t rent something this nice for $4K. Maybe $5K. Rentals don’t have this quality of finish.

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