CFAH

Purchased for $6.495 million in April of 2016, the 5,493-square-foot “Light House” condo at 651 Dolores Street, one of four condos within the converted Second Church of Christ Scientist, across from Dolores Park, returned to the market in August of 2017 with a $6.795 million price tag.

“Call agents re: sale with Bitcoin or Ethereum!!!” was added to the listing prose in July of 2018, at which point the list price for the unit had been reduced to $5.995 million, which would have translated to around 895 Bitcoin at the time.

Further reduced to “$5.195 million” in June of 2019 and briefly in contract before being withdrawn from the MLS, 651 Dolores was “listed” anew for $6.495 million twelve days ago and has closed escrow with an “over asking” contract price of $6.496 million, up 0.01 percent on an apples-to-apples basis since the second quarter of 2016.

The Case-Shiller index for Bay Area condo values is up 18.7 percent over the same period of time. And those aforementioned 895 Bitcoin would be worth $38,546,755 as of a few minutes ago.

Comments from Plugged-In Readers

  1. Posted by Alai

    Funny money is funny.

  2. Posted by Notcom

    …895 Bitcoin would be worth $38,546,755 as of a few minutes ago

    Well, yeah….but you cant sleep in a Bitcoin, now…can you?

    • Posted by Ricardo Ruiz

      Agree 10000% time to tax the rich.

      AOC at the gala the other day showed so much courage. We haven’t seen that courage in generations . She went into the belly of the best. Maybe the men who stored Normandy Beach had 75% her courage

      • Posted by soccermom

        Let’s keep this about real estate.

      • Posted by Miraloma Man

        I agree. The rest of us are getting punked. Or worse. Daily. The USA is one messed-up country.

      • Posted by BobN

        Oh, please. You probably couldn’t find an audience of wealthy people more disposed to higher taxes anywhere. It’s Metropolitan Museum of Art, for goodness sake.

  3. Posted by sf_bobs

    So much money for a place that feels half sub-terrain and lacks a bedroom door.

  4. Posted by not sure why this is all caps

    I toured this unit a few years ago, during one of their rare public open houses. The layout is supremely awkward and lots of the space felt wasted. The city would (sensibly from the city’s perspective) only let them have a shared curb cut so for this much money you have to share a garage with three other people. And the outdoor space is teeny tiny, also shared, and not at all private. All of which is to say that the market for these units, and this one in particular, is very thin. No wonder it took so long to sell.

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