Purchased for $1.398 million in May of 2018, the modern two-bedroom, two-bath and 1,102-square-foot unit #202 in the “trendy Dogpatch” development at 815 Tennessee Street, with “high quality finishes throughout,” “plenty of natural light, a designer kitchen” and “spa-like bathroom,” returned to the market priced at $1.375 million this past May.
Reduced to $1.198 million in July, as we outlined at the time, the listing was removed from the MLS last month. And today, 815 Tennessee #202 is back on the market with a further reduced list price of $1.088 million, a sale at which would be considered to be “at asking” according to all industry stats and aggregate reports and with an official “1” day on the market as of today.
Once again, if you think you know the market for Dogpatch, for which neighborhood amenities and access have only improved over the past five years, and modern two-bedroom condos in the city, now’s another chance to tell.
This is a nice unit. Very balanced floor plan that checks all the boxes. I assume this lands around $1k/foot.
Separate rant, but I don’t get the love for the Dogpatch. I’ve seen people saying on social media it’s the best neighborhood in SF. It has great weather, but it’s still in a rough industrial area that’s at least 30 years of construction headaches from being filled in, it’s still very walled off and isolated from the rest of the city by 101/280/Potrero Hill, it has very little green space and the restaurants/bars are limited. Call me in the year 2050 about the Dogpatch.
Rough? It’s pretty tame, not sure what you’re referring to. The one that rings true for me is being far from everything
Is Dogpatch going downhill? The reduced list price here amounts to $987 per ft.². Two blocks away at the Stanley Saitowitz-designed devoid of curb appeal grey cast concrete sarcophagus building at 615 Tennessee St. (built in 1997), a 2 level condo unit offering 1 bedroom, an upper level loft (i.e., 2 total Bedrooms), 1.5 bathrooms, and 1 car enclosed parking has been languishing on the market since August asking $863 per ft.², with HOA fees 57 percent lower than this one.
Isn’t the city working to buy the Saltowitz building to turn into homeless housing?
That would funny, if true. But I don’t think that it is. 615 Tennessee St. is a live/work building with a very small number of multi-level loft apartments and it would be a poor fit for homeless housing because the density would be so low. Apartment 101 there is still on the market, as I mentioned above, asking $1.125 million.
You are probably thinking of the award-winning, modern 25 unit (some of which are stacked two story townhomes) development next door, 603 Tennessee St., which was foreclosed upon a little earlier this year. But I haven’t heard The City is attempting to acquire that property from Avidbank, which last I read had a trustee’s deed for the property.
If you have a link where we can read about the city getting ready for homeless housing there, please do post it here so we can all read about it.
Urban worker flight, corrupt profligate distributions leading to inflation leading to vastly higher interest rates plus a side of crime and some fentanyl crisis or something means this will trade down 35% from the last sale or $908k.
You neglected the decade-plus of incompetently managed low rates that helped push up prices in the first place.
$999,999
$908,000 … The sheer fact that no balcony exists in these units was poor architectural planning. It has a nice roof deck that has zero shade and gets quite windy in the afternoons. This building is nice and all, but it was a consequence of the go-go 2010s when you could build any condo building and it would sell out quickly. Unfortunately for the current owners, they’ve realized all of this 10 years too late!
** meant five years too late! Same-Same
“Designer kitchen,” lol.
UPDATE: Trendy Dogpatch Condo Trades Down Over 20 Percent