The “rare and exquisite” Pacific Heights at 1809 Lyon Street, an “architecturally distinctive” three-bedroom home with nearly 20-foot-high ceilings in the living/dining room, a European-style side courtyard, and a side-by-side garage for two (plus) cars, which is steps from Sacramento Street’s boutique shops and restaurants, sold for $4.01 million or roughly $1,273 per square foot in March of 2018.
Having returned to the market priced at $4.25 million this past June, a sale at which would have represented net appreciation of just 6 percent since the first quarter of 2018 for the single-family home, not including the cost of the new stove and bedroom built-ins which aren’t pictured above, the list price for the home was reduced to $3.85 million last month.
And the re-sale of 1809 Lyon Street has now closed escrow with a contract price of $3.6 million or roughly $1,143 per square foot, representing a 10.2 percent drop in value. That being said, there are plans for the parcel behind the home, to the west, to be redeveloped for San Francisco University High School (UHS), but UHS acquired said parcel back in 2008, well before the prior sale. And yes, the widely misrepresented Case-Shiller index for single-family home values in “San Francisco” is up 49 percent since March of 2018.
The interior is a mish-mash of architectural and decorating styles. And nothing very distinctive about the view from the street. The staging probably cost the sellers a couple hundred thousand dollars.
Also, I’m not sure that it’s good design to access the master BR through the kitchen. I know, that condition existed in 2018. I just don’t think this one is “exquisite”.
Agree. And I am not a fan of any of it — i.e., it’s a mish-mash of thoroughly unappealing (to me, anyway) styles. That dresser, the chandeliers, and the wrought iron accents are just the very worst of it. Well, I suppose the shabby “chic” mismatched cabinet in the kitchen merits inclusion there too. I would very happily choose a “white box” over this mess.
Yep, it’s just a really weird design and mix. SS will cherry pick listings for those clicks.
Despite the common rationalization and disparagement, we don’t “cherry pick” the sales we feature on the site nor do we go looking for sales that result in losses (or gains, as the case(s) may be) and we couldn’t care less about “clicks.” Which once again brings us back to the property and actual trends at hand…
….though in fairness, do you explain which properties are featured? Why not make this public and eliminate the conspiracy theories?
As we’ve outlined, time and time again, we’re always looking for potential sale pairs that aren’t obvious outliers (non-arm length transactions, structural damage or improvements, a rezoning or change in ownership structure, etc.) and we typically won’t feature an apples-to-apples sale if we know its outcome prior to it being placed in our cart. In the rare case that we do know an outcome prior, we’ll note it in the copy.
Regardless, you’re always welcome to proffer relevant counterpoints, beyond the nebulous “plenty of others,” but please do your research first. And now, back to the property and trends at hand…
If they paid “a couple of hundred thousand” for the staging, then they deserve to have a loss, for lack of prudence or worse.
The snarky tone of the editor of this site is really childish and annoying. What’s the angle? You can make everyone and everything sound stupid and contrived?
To be perfectly honest, we have no idea what you find “snarky” in our prose above, but we’ll humor and oblige you below…
For those who might not know, quotation marks are used to denote quotations, typically from marketing materials, industry reports or planning documents, in order to provide additional context for the property (such as condition, features or positioning) and/or topic at hand. Commonly (mis)reported indexes are included for context as well. And speaking of indexes, our proprietary Whining and Whinging Index (WWI), which tends to be inversely correlated with the market, has been trending up and rather sharply.
And now back to the actual property and trends at hand…
Yes, sometimes snarky, arrogant, and pretentious . . . yet, it is a good and interesting site. The articles and comments can also be very amusing, if you don’t take it too seriously. And lot’s of good information.
Need a place to park your two Porsche convertibles and your nondescript luxury sedan? Then do we have the house for you.