No Appreciation for a High-Tech Noe Valley HomeApril 28, 2023
Speaking of high-end San Francisco homes, re-sales and neighborhoods, the “luxury high-tech” Noe Valley home at 33 Day Street, recently resold for $4.7 million, having been priced at $5.495 million in January and then reduced to $5.195 million at the end of last month.
Purchased for $4.7 million in January of 2019, which was $88K “below asking” for the high-end home, which had been “renovated with no expense spared,” in “one of San Francisco’s hottest neighborhoods,” the resale of 33 Day represents net appreciation of 0.0 percent over the past four years on an apples-to-apples basis, which could be (mis)represented as the home’s value having simply “held firm.”
And yes, the widely misreported index for “San Francisco” home values is “still up 28 percent!” over the same period of time, net of a 16 percent drop from last May to February of this year.
Comments from Plugged-In Readers
They all look the same….that Glenn Park home below, this one….interchangeable…like there’s only one architect and one designer in all of SF…..
Given popularity of Natoma, David Baker, and a handful of others, that’s about right!
And the reason why locals overwhelmingly prefer local architects is their experience going through our Byzantine planning process, knowledge of the various planning codes, earthquake sensitivity.
Bad design ran rampant during this last boom, chasing, and milking, the fetishistic tastes of the tech invaders. As the patinas fade it will look like Soviet block housing.
I hope the next wave of wealth doesn’t have as much of a taste for destroying historic interiors to make them look like Apple stores.
Historic Faux Spanish Salmon Stucco Must Be Preserved!!!
You could say the exact same thing about all the Edwardians in the Western Addition, because many of them were in fact designed by the exact same designer: Sears Roebuck and Company.
Your comment sounds way off…I have never heard that before. Could you please back it up with a link or some form of evidence.
I don’t think so. Fernando Nelson and sons are regarded as the pre-eminent design/build group of the era.
I agree with Kyle on style, that there is a lot of repetition in Edwardian design. I think they are dark and depressing and unsuited for modern life. They might be fine as museum homes for couples without children and without typical modern needs. I think it’s fair to say that the market has spoken re: modern vs. old.
I’m pretty shocked at the price given the location. for this part, you’d imagine you be in a better place in noe.
Adjusted for inflation between 2019 and now – what was the loss %?
The neighborhood is def still rough around the edges, $4.7M and two doors down from San Jose Ave and across the street from the Safeway parking lot…not ideal.
generic all around, but the stonework on the front facade is EXCEPTIONALLY ugly. Not aging well.
The whole front looks like the entrance to a small medical building or office. Cheap and impersonal.
The stone is actually one of the only features I like about the facade.
Really surprised to see something on that block go for anything close to that. If I thought I knew Noe Valley, apparently… not really.
I have a more positive light after reading the article, rather than the shock headliner SS is trying to pull off: I’m actually impressed this crappier area in Noe held this much value during such a horrible period.
This thing may be BARELY Noe.
Agreed; residents here are more likely to hang out on Mission or Cortland Street than they are 24th Street.
This is Noe due to a technicality only. The day to day living is much more Mission / La Lengua / Excelsior.
Very likely the “best house on worst block” thing.
Perhaps, but it’s also the “same house on the same block, at the same price as four years ago,” despite the pandemic-era squeeze and “San Francisco” index, thing.
Rats. I thought La Lengua was deaded as it’s only slightly better than Karl the Fog.
Karl the Fog is the worst. Wasn’t it coined a mere decade or so ago? Now it is used as if it were a SF tradition.
Its just fog. No need for a given name.
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