In the Black or Red at Blu?May 19, 2017
Purchased as new for $763,500 or roughly $621 per square foot in August 2009, the two-bedroom unit #7D at 631 Folsom Street (a.k.a. BLU) hit the market in September 2015 and resold for $1,458,000 ($1,185 per square foot) that October, representing total appreciation of 91 percent, or 11 percent per year, on an apples-to-apples basis over those six years.
In addition to two bedrooms and a dedicated parking spot, the 1,230 square foot unit includes two bathrooms and a den and is the largest two-bedroom floor plan in the building.
Yesterday, the 631 Folsom Street #7D returned to the market listed for $1,458,000. And yes, there are big plans in the works for that parking lot in the background.
Comments from Plugged-In Readers
from visiting the garage of the building i didn’t notice any meaningful number of “dedicated” parking spots (it’s the mechanical stackers in general). i may have noticed a couple of independent spaces which i assumed were for the penthouse and/or guest parking. maybe there is another level of parking below that i was unaware of that provides dedicated parking.
Kiss whatever passes for a view goodbye. As to the dedicated parking, whether stacked, individually marked, guest, handicapped, deeded, etc., that’s probably one of the best selling points this unit has going for it.
Again, for $1.5M you have no real place to put a dining room table. Do people not have guest over for dinner anymore? The DEN however is nice extra space.
its so crazy that these types of units are/were selling for almost $1200 PSF.
$828 for HOA. Ouch!
Open kitchen, means the entire apartment smells like what you just cooked- No stir fry, no curries, no peeling garlic, no baking fish.
I cant believe what people will pay. Amazing.
Doorman building. That helps explain the HOA fee.
Purchased for $1,458,000 in October 2015, and having been on the market for the past two months, the asking price for 631 Folsom Street #7D has just been reduced to $1,375,000.
UPDATE: In the Red at Blu
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