Purchased for $1.125 million in September of 2017, the multi-level South Beach loft unit #5 at 340 Ritch Street, which features dual catwalks, designer finishes and a private sunroom with access to the building’s rooftop deck, returned to the market priced at $1.129 million this past July.
In addition to nearly 1,500 square feet of living space, the unit comes with an assigned parking space and secured storage in the boutique building’s garage.
Reduced to $998,000 last week, a sale at which would represent an 11 percent drop in value since the third quarter of 2017 on an apples-to-apples basis and total appreciation of just 5 percent since the fourth quarter of 2014, when the unit traded for $950,100, 340 Ritch Street #5 remains on the market.
If you think you know the market for loft units in San Francisco which are “steps to Oracle Park, shopping, culinary landmarks, tech giants, and freeways,” “the perfect…location for a primary residence or a pìed a Terre,” now’s the time to tell. Keep in mind that the widely misrepresented Case-Shiller index for condo values in “San Francisco” is up 20 percent from September of 2017 and 46 percent since the fourth quarter of 2014.