The Rapid Rise Of “Strategic” Defaults
Defined as those who stop paying their mortgages but remain current on all their non-real-estate debts, Experian and Oliver Wyman estimate nearly a third of all defaults in California were…
Another Bank Owned Watermark Comp To Be: 501 Beale #6C
While the bank owned 501 Beale #1D remains active and available, the bank owned #6C just hit the market. A South Beach comp at $806,000 in June 2006, the Watermark…
72 Townsend: So Close, But Yet So Far For 74 Approved Units
From a plugged-in tipster in 2007: “The existing ground floor windows got a good wash yesterday and are now adorned with the news that Luxury Homes are coming soon starting…
Back To The Bank For Six San Francisco Office Buildings
As expected, with $233,784,407 owed on the property, 333 Bush Street was taken back by lender Brookfield Properties. The building was bought for $281 million in 2007. Also as reported…
Take Two (And Big Cuts) For Thirty-Four At 188 King
If you’ve been plugged-in since 2006 should know the full saga of 188 King. Now three years later, the rented units (34 of 44) “are being converted back to condominiums…
Personal Effects, Check. Washer And Dryer, Check. Furnace…
With the short sale of 2874 Bush Street over in Lower Pacific Heights currently in escrow, and contingencies waived, a plugged-in source reports: Looks like moving day at 2874 Bush.…
The Story (And Faces) Behind The Rise And Fall Of The Lembis
San Francisco Magazine digs deep to tell the story of the Lembis. Their business plan was simple: Exploit the difference between artificially low, rent-controlled rents and the sky’s-the-limit, market-rate rents…
3577 Pacific Recap: Withdrawn From MLS (But Sold Two Days Prior)
As its MLS listing was simply withdrawn on 7/10/09 without mention of a sale, we missed it when 3577 Pacific closed escrow on 7/8/09 with a recorded contract price of…
One Of Thirty Underwater Properties New To The Market This Week
Of 83 new listings in San Francisco over the past week, 30 (36%) are either bank owned (16) or seeking a short sale (14). One such listing is for Watermark…
The Beginning Or End Of This (Or The) San Francisco Short Sale Story?
Listed as a short sale for $595,000, the Lower Pacific Heights single-family (but zoned RH2) home at 2874 Bush Street sold for $675,000 in June of 2003. According to a…