Having hit the market priced at $1.75 million in July of last year, a sale at which would have equaled the price which was paid for the modern Mid-Market unit back in the fourth quarter of 2014, the list price for 10 Mint Plaza #5, a full-floor conversion loft with exposed beams, eleven foot ceilings, high-end finishes, air conditioning and a deeded parking space below, was subsequently reduced down to $1.575 million at the end of last year.

At the end of last week, the unit was re-listed anew with a $1.5 million price tag. As such, the unit has officially only been on the market for “5 days” according to all industry stats and aggregate reports.

And while a contract price of $1.5 million would now be considered to be “at asking” as well, it would represent a 14.3 percent drop in value for the modern unit on an apples-to-apples basis since the fourth quarter of 2014.

Keep in mind that unit #1 at 10 Mint Plaza fetched 5 percent below its 2014 price back in mid-2017.

UPDATE: The sale of 10 Mint Plaza #5 ended up closing escrow in October with a contract price of $1,458,500, down 16.7 percent versus the fourth quarter of 2014 on an apples-to-apples basis.

Comments from Plugged-In Readers

  1. Posted by emanon

    Am I misreading the photos and the floorplan or is the first thing you see when you enter the unit is a full view of the second bathroom through the shower stall?

    • Posted by Notcom

      Well that’s OK: they make up for the ‘peep show’ shower with an “Ultra-private master bedroom suite” – whatever that is – tho I would think that if you do indeed use the “bonus” room for guests, then that large sliding door between the two would lessen the privacy

      • Posted by emanon

        Hah! I missed that. I guess it’s “ultra-private” because it has no windows.

  2. Posted by Matt M

    Poor Mint Plaza never gets any love. The lofts look great in person, but the location…..

    • Posted by smeagol

      [narrator’s voice] everyone knew the lofts did not look great in person…

  3. Posted by Sam Walters

    I would not be interested, just because of the pathetic placement of the toilet right next to the tub. That is so slum like and paying 1.5 million for such a obvious design flaw, is out of the question.

  4. Posted by NA

    Would love to see a post (apples to apples) on our favorite new construction properties in the mission district.

    3500 19th st #307 just closed at 2.1, after being listed at 1.895 (below its previous sale price)
    Apples comparison sale oct 24 , 2016 at 1.93

    If there’s more to the story, would love to know

  5. Posted by Boojum

    Dark kitchen. Dark bedroom. Dark bathroom. This cave would be deadly for heliotropes. Like me.

  6. Posted by timesguy

    This place is a bit grim. I once visited my girlfriends family in Perm, Russia. Similar feeling……just a lot bigger

  7. Posted by kwmi

    I bought a condo in 2014 and I remember our realtor walking us through this building talking about all the great development that was going to happen to gentrify the neighborhood. So glad I stayed away

  8. Posted by tipster

    Stunning loss on this. Just stunning, like below a 2013 price.

    [Editor’s Note: The sale of 10 Mint Plaza #5 ended up closing escrow on October 18 with a contract price of $1,458,500, down 16.7 percent versus the fourth quarter of 2014 on an apples-to-apples basis.]

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