Purchased for $5.3 million in January of 2018, the nearly 2,700-square-foot unit #39B atop the Lumina tower at 201 Folsom Street returned to the market priced at $5.998 million in October of 2019, a sale at which would have represented total appreciation of 13.2 percent since the end of 2017.
Featuring panoramic views, an “oversized open living space,” three traditional bedrooms and a fully enclosed fourth bedroom/den/office/room for zooming, and an “unbeatable South Beach location by [the] Embarcadero Waterfront,”the list price for the luxury condo was then reduced to $5.898 million last April.
Reduced to $5.754 million in May, to $5.598 million July, to $5.390 million in September, to $5.180 million in October and then to $4.995 million in November, the sale of 201 Folsom Street #39B closed escrow on December 30, 2020, with a contract price of $4.6 million or roughly $1,709 per square foot.
For those running the numbers at home, the unit’s HOA dues, which include valet parking in the building’s garage, are currently running $1,428 per month.
And once again, while $1,709 per square foot certainly isn’t “cheap,” it was 13.2 percent cheaper than in January of 2018 on a apples-to-apples basis while the index for Bay Area condo values was up 4.2 percent over the same period of time