Purchased for $1.458 million or roughly $1,185 per square foot in October 2015, the two-bedroom unit #7D at 631 Folsom Street (a.k.a. BLU), which includes a dedicated parking spot, two bathrooms and a den and is the largest two-bedroom floor plan in the building, returned to the market this past May priced at $1.458 million as well, as we noted at the time.
Reduced to $1.375 million in July, the 1,230-square-foot unit was relisted last month with an official “1” day on the market and a $1.295 million asking price.
And the sale of 631 Folsom Street #7D has now closed escrow with a $1.24 million contract price, or roughly $1,008 per square foot, a sale which will be counted as having closed “within 4.2 percent of asking” and “21 days” on the market according to industry stats and reports.
At the same time, the sale represents a 15.0 percent drop in value for the unit with an “open floor plan, sleek European cabinetry, granite counter tops, and Viking appliances in the kitchen including a GAS stove top” since the fourth quarter of 2015.
And yes, there are big plans in the works for developing that parking lot in the background above, a development which some will see as a ding while others will view as an added bonus.