Purchased for $1.185 million in December of 2015, the “modern, stylish, tri-level loft” #14 at 175 Russ Street, “in the heart of SOMA,” resold for $1.165 million in April of 2019, which was down 1.7 percent on an apples-to-apples basis but “17.1 percent over asking!” according to all industry stats and aggregate reports as the condo had been re-listed for “$995,000” that March.
In addition to its 1,361 square feet of living space, the two-bedroom condo includes a deeded parking space and storage, along with access to a common area roof deck with “AMAZING city skyline views!”
And having returned to the market listed for $1.195 million this past June, reduced to $1.189 million in August and then to $1.165 million in November, a sale at which would be considered to be “at asking,” the “luxurious tri-level loft” is now in contract.
The sale of 175 Russ Street #14 has now closed escrow with a contract price of $1.1 million, down 5.6 percent from the second quarter of 2019 and 7.2 percent below its price at the end of 2015 on an apples-to-apples-to-apples basis. The widely misrepresented Case-Shiller index for condo values in “San Francisco” was up 24 percent over the same period of time. And yes, the “median sale price” is up as well.