We’ve been intrigued by the truly high-end conversion of unit #102 at 355 Bryant Street since the 2,200-square-foot loft hit the market listed for $2.195 million, or roughly $1,000 per square foot, back in 2006, outfitted with Italian cabinetry, hardware, wall systems and book-matched slabs of Carrara marble.
Reduced to $1.995 million and sold for $1.935 million in January of 2007, the two-bedroom, two-bath unit subsequently traded for $2.1 million in October of 2015.
And having returned to the market priced at $2.475 million two months ago, the resale of 355 Bryant Street #102 has just closed escrow with a contract price of $2.425 million, or roughly $1,101 per square foot, representing total appreciation of 15.5 percent for the high-end loft since the fourth quarter of 2015 or 4.0 percent per year on a straight line basis. The loft has seen some improvements since returning to the market which could explain the price increase. The owner is said to have re-modernized the interior as well as getting austin roofing contractors to fix existing issues with the roof.
As always, design matters (particularly when the market’s in flux).
Two months ago, the “stunning, ultra-modern live/work loft” suddenly returned to the market priced at $2.45 million.
And last week, the list price for 355 Bryant #102 was reduced 27 percent to “$1.795 million,” a sale above which will be considered to be “over asking” according to all industry stats and aggregate reports, but with said list price intended as the opening bid for a “Luxury Live Auction!”
If you think you know the market for high-end lofts, now’s the time to tell. We’ll keep you posted and plugged-in.
UPDATE (9/18): The day after our post, the list price for 355 Bryant Street #102 was further reduced to “$1.5 million” a sale above which will be considered to be “over asking” according to all industry stats and aggregate reports.
UPDATE (10/08): All mention of the “Luxury Live Auction!” for 355 Bryant Street #102 has been scrubbed from its listing and the list price for the unit, which remains active and available, was raised to $2.25 million on October 2.