The “High-Tech Noe Home” at 525 28th Street hit the market as new for $3.6 million in June of 2014 and sold for $3.65 million that July.
Designed by EE Weiss Architects, an elevator runs from the two-car garage to the top floor of the four-story, four-bedroom home, with a floating wood and glass staircase that runs through a retractable sky-light to reach the roof deck with big views of the valley (and yard) below.
The 3,551-square-foot home returned to the market in May of 2017 listed for $3.995 million and sold for $4.6 million in two weeks time, representing apples-to-apples appreciation of 26 percent, or roughly 8.5 percent per year, on the short-term hold.
And today, 525 28th Street is back on the market with a $4.695 million price tag, a sale at which would represent total appreciation of 2.1 percent, or roughly 1.5 percent per year, for the “contemporary residence that combines stunning architecture and state-of-the-art technology to create a luxurious and warm home like no other,” since the middle of 2017.
If you think you know the market in Noe, now’s the time to tell.
There’s something funny about the floor plan. I’m not seeing either the garage nor the elevator. The “Main Entry” on level 1 looks funny since that’s supposed to be a level below the garage opening into the backyard. Either way, doesn’t really align with the outside door. Also, floor plan doesn’t show any entrances into the garage which seems like an odd omission.
Wonder if there were some unpermitted additions built causing the discrepancy.
The garage, which sits under the third floor family room, behind the bathroom on the second floor, wasn’t included in the floor plan. The elevator shaft runs from the garage, through the (mislabeled) “store” room on the third floor and adjacent to the walk in closet on the fourth, simply mislabeled as “CL.”
The “main entry” to the yard isn’t the sliding glass pictured above but the door that’s semi-hidden behind the tree.
I like the door from the front bedroom on the fourth level leading outside to where?
I don’t know Noe so have no idea what it might go for, but that facade is a jumbled mess of materials and the stone backyard is pathetic for a $4plus million asking price.
It is, of course, the same facade and backyard which fetched $4.6 million in mid-2017, within two weeks of being listed.
What’s with the antenna?
I’d guess the antenna is for Monkey Brains internet. Great for people who want nothing to do with Comcast and AT&T, but can’t get Google Fiber or Sonic Fiber.
Or Webpass (now owned by google) who offers a similar wireless service.
Easy freeway access for the valley commuter-and that’s who will buy it (again) for 4.55.
I think it gets asking or better rather quickly. The Noe market for things of this quality and in this range has been competitive this fall.
that looks like an excessively steep grade break into the driveway.
Guess one has to be native born to see the allure in this. Or maybe not – I’m native born and Noe does nothing for me nor does this home. If I had the money to purchase a 4.5 million dollar home that home would have a useable front yard. Not be crammed against the street. A little space between the home and the neighbors would be nice. Not talking acres but really – 4.5 mil and you are attached to your neighbors or staring into their windows. And a backyard where the kids and Fido can get a good run. Sure someone will buy this. The price it fetches will be interesting to see. Myself, give me a home off of 280 in the San Mateo Hills with a fab view (at 60% or so of the price) or a home in Sausalito/Mill Valley – in the woods with a view at 50% of the price. Different strokes as they say.
Dave: You are a suburbanite at heart. (See your love for Portland and Seattle suburbia) Why care and comment about city things?
I see a yard and I see hours spent on maintenance on the weekend. Some people like that. I do not.
Frankly, IMO, San Franciscans use “suburbanite” as a pejorative out of a sense of inferiority over the lack of diversity/quality in SF neighborhoods. The uniform sterility of SF’s neighborhoods. NYC, Chicago, Pittsburg have a far more diverse set of neighborhoods. Some would qualify as “suburban”, while others are quite “urban”. Those cities have neighborhoods where there is room in the front and the back of the house for a large yard and one is not door to door with their neighbors. If you want a large yard in Pittsburg you can have it, if not then there are other options in that city. Not so in SF. When I bring friends/relatives here for the first time they are almost to a person shocked at the paucity of quality/diversity in San Francisco’s neighborhoods.
Well you can here, too. It’s just that it’s in Oakland. And in the name of technical accuracy, Pitt has very few – if any – “urban” neighborhoods…Philly and Cincy do, tho.
Really? I think Pittsburgh has a lot of cool urban feeling neighborhoods actually. More than most cities around that size, for sure.
Let’s try another tack: maybe I’m just too old, or too nostalgic or dealing with a case of reconstructed memory, but I can remember when neighborhoods with security bars on the front windows (see house to the left) went for under under $2M … or even under $1M.
Now I know I’m prob misreading this as a prevalence of crime – which is one of those things that some people… like fussy wannabe suburbanites, fret over – when in reality they have a pet ocelot (and are just trying to protect the neighbors), but I still think it’s a bad look.
It’s all about maximizing square footage to get the highest price.
What is a usable front yard, anyway? Never seen them used for much aside from decoration. I’d take a house against the street with a bigger back yard any day. Even in the suburbs. I was looking on Google Maps at some French suburban areas which were built like that, and that seemed very nice to me.
I suppose a lot of SF houses used to have more significant front yards before garages were installed.
Regardless, it sounds like you just don’t like houses in SF in general.
I have never heard of a usable front yard and I grew up in suburbia. The most usable front yards I’ve seen are in the Sunset and have two cars parked on them. I remember after Polly Klaas, no one let their kids play alone in the front yard. And putting anything outside (grill, even succulents these days, whatever) means it gets stolen. It sounds like you want space and distance from your neighbors which is fine and dandy, but it’s apples and oranges for city/townhouse living and suburbia/rural.
UPDATE: The sale of 525 28th Street closed escrow last week, down 8.7 percent on an apples-to-apples basis.