Purchased for $1.945 million in April of 2018, the two-bedroom, two-bath unit #27B in the Lumina tower at 201 Folsom Street, which “exemplifies urban luxury,” with high-end finishes and city views, returned to the market listed for $2.099 million in February of 2019.
Subsequently reduced to $1.999 million while being offered for rent at $9,000 a month, the unit was then delisted in April of 2019.
Listed anew for $1.999 million in January of last year, the list price for the 1,189-square-foot unit was reduced to $1.899 million, and then to $1.795 million, after a month.
And having been relisted for $1.749 million last month, the sale of 201 Folsom Street #27B has now closed escrow with a contract price of $1.749 million, which is officially “at asking” and with only “53 days on the market” according to all industry stats and aggregate reports but down 10.1 percent ($196,000) on an apples-to-apples basis from the second quarter of 2018.
And yes, the Case-Shiller index for Bay Area condo values was up 4.7 percent over the same period of time.