Discounted San Francisco Shipyard Condo Trades DownAugust 2, 2022
Priced by the sales office at $600,500, relative to the other units in the second wave of development at the San Francisco Shipyard, the list price for the 611-square-foot, one-bedroom #308 at 555 Innes Avenue was reduced to $580,000 or roughly $949 per square foot in November of 2017, the price at which it ended up selling “at asking” in February of 2018.
And having returned to the market listed anew for $525,000 last month, the re-sale of 555 Innes Avenue #308, which comes with a deeded parking spot and HOA dues of $479 per month, has once again sold “at asking,” which was 9.5 percent below its early 2018 price and despite having been listed for $599,000 last year and $550,000 in January as well.
Comments from Plugged-In Readers
Still about $580,000 more than I’m willing to spend for an apartment [in this neighborhood].
I’d be more worried about soil contamination…
I’ve been out there several times, and the development is quite nice. Great weather, good views – it’s a bit isolated at the moment, so you’ve got to think long term. Speakeasy Ales is out that way, and the shoreline is being turned into some nice parkland.
Would you plan to dig in the soil, or sprinkle it on your food? If not, what’s the worry? These types of brownfield redevelopments are precisely the way they are because people are going around disturbing the soil post-completion.
Hunters Point Shipyard housed a radioactive testing lab and was used to decontaminate ships after offshore nuke tests – this is not just a ‘brownfield’ site.
Tetra Tech workers with the company were committing fraud: faking soil samples and ensuing records, faking scans for radiological contamination, and letting contaminated soil trucked to landfills as if it were clean.
*are NOT going around…*
WWHD?? W(hat)W(ould)H(itchcock)D(o)?? I think for $580K one should be able to bury something in the backyard. so no more than…oh, maybe $550K.
The street view of this monotonous neighborhood is mind numbing. Imagine if the entire city looked like this, SF would be as desirable as a cardboard box.
My friend said they do not walk out of their apartments into the hood, after dark. They don’t feel safe. They drive everywhere. Why would you want to live in a place like that?
I live in this neighborhood and follow the testing and cleanup continuously – The Navy is very upfront about the current state and cleanup of the shipyard down the hill. These condos are in the sunniest part of the city with Bay views from San Jose to the Bay Bridge – even Golden Gate Bridge peaks out. The sunsets are amazing. There is more crime in Noe Valley (look up the stats). The shipyard is honestly a fantastic neighborhood. I know all my neighbors, walk around after dark all the time, and appreciate the massive amounts of street trees.
People can be so rude.
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