Purchased for $1.515 million in September of 2015, the upgraded 1,400-square-foot Yerba Buena Loft unit #523 at 855 Folsom Street, which features a private 400-square-foot terrace and “one of the area’s most sought after addresses,” returned to the market priced at $1.595 million last July, a resale at which would have represented total appreciation of just 5.3 percent for the unit since the third quarter of 2015 on an apples-to-apples basis.
Reduced to $1.495 million, withdrawn from the MLS in September and then re-listed anew with an “original list price” of $1.45 million in January, the re-sale of 855 Folsom Street #523 closed escrow with only “36 days on the market” and an “at asking” sale price of $1.45 million, at least according to all industry stats and aggregate reports, in February, a re-sale which represented a 4.3 percent drop in value for the condo on an apples-to-apples basis since the third quarter of 2015.
Two months ago, the two-bedroom unit suddenly returned to the market with a $1.537 million price tag.
And the re-re-sale of 855 Folsom Street #523 has now closed escrow, and the property has been marked-to-market for the second time this year, this time with a contract price of $1.465 million. And yes, that’s “up 1 percent” ($15K) over the past four months but under its 2015 price on an apples-to-apples versus “median price” or indexed basis, this time by 3.3 percent.