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Iconic Painted Lady Loses Some Luster

March 29, 2010 By Leave a Comment

It’s been almost two months since the historic and iconic home at 722 Steiner first floated on to the market. I toured the property soon after, and though I found the property to be interesting, it didn’t exactly feature a top-notch interior. But it had its merits.

The sellers decided to reduce the list price on Friday from $3,999,999 to $3,850,000. Hardly an earthshattering price chop, but they’re moving in the right direction. It really is challenging to put a price tag on a house like this, but the sellers will know when they’ve hit the right price. I’m thinking more about $3.5M, but we’ll see.

Filed Under: Hayes Valley Tagged With: ,

Update: LindenHayes Nears Completion, Half in Contract

March 17, 2010 By Leave a Comment

It’s been a few months since we last checked in on LindenHayes at Franklin and Hayes. So here’s the latest: Construction is drawing to completion as the builder finishes the common areas. As soon as the lobby and the landscaped courtyard are done (probably by April 3rd), LindenHayes will have its grand opening.

In the meantime, “dusty shoe” tours are continuing, by appointment. To date, there are 15 pending sales out of a total of 32 units—not bad for minimal advertising and no MLS entries.

Here’s a refresher on what’s available, and in what price ranges—keeping in mind that pricing is still “fairly fluid” at this point, according to Doug Shaw at Pacific Union:
- 16 1BR/1BA residences, ranging from $529,000-$649,000 (some in contract)
- 12 2BR/2BA, from $769,000-$965,000 (some in contract)
- Three 3BR/2BAs (all are in contract).

Parking is included with all units. Contact me if you’d like a dusty shoe tour before the grand opening.

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Hayes Penthouse Hits Market With 2010 Optimism Intact

March 9, 2010 By Leave a Comment

First sold in April 2009 by the sales office for all cash at $949,400, unit 816 at The Hayes is back on the market looking for its second owner at a refreshed price of $1,079,000.

The 2BR/2BA, 1530-square foot corner penthouse unit has western and northern views, and was the developer’s penthouse suite. HOA dues are $530, and include parking (leased by transferable).

Of the two-bedroom units sold at The Hayes that were reported on the MLS, #816 would be one of the two most expensive. The other is #820, which sold for $1,250,000 in April 2008.

Has the market improved that much since April 2009? I will say that the San Francisco real estate market seems to be in a very different and improved place since this time last year. But whether a buyer will pay $130,000 less than a year later is up for grabs.

Filed Under: Hayes Valley Tagged With:

San Francisco Icon For Sale at 722 Steiner

February 9, 2010 By 2 Comments

It’s not every day you have an opportunity to get inside one of the iconic San Francisco Painted Ladies. The corner home in the famous row of six such Victorians is now on the market. I toured 722 Steiner this morning.

The 5BR/4.5BA single-family home (total of 11 rooms) also has an au pair unit on the garage level, and the property is almost 5,000 square feet. It overlooks Alamo Square park in the front, and has stunning city views from the rear:

The house fills up the lot, but there’s a small patio with stairs leading down to the in-law unit. Classic architectural details abound, from stained-glass windows and Bradbury wallpaper to moldings, medallions, and high ceilings. There are working gas light fixtures and five fireplaces. The property was built in 1892.

How much is all this worth? 722 Steiner is listed at $4M. That price also includes the claim to fame of being featured in more than 70 movies, television shows and ads. Steiner is reportedly the most photographed residences in the United States after the While House, and I believe it. Tour buses drive past routinely, and tourists take photos from surrounding corners at any time of day. (Saw both of these activities happening in my ten-minute stop at the property.)

But it’s a part of San Francisco history. Check it out this weekend, they’ll be open on Valentine’s Day from 2:00-4:00.

Filed Under: Hayes Valley Tagged With: ,

Update: Linden Hayes Sales Under Way, Pricing Goes Public

January 21, 2010 By Leave a Comment

The 32 units over at Linden Hayes—now with its official address of 233 Franklin—are finally seeing some list price ranges from the sales team.

Six units have been sold, according to Doug Shaw at Pacific Union. So if you want to jump on the bandwagon, here are the latest ranges:

1BRs: $525,000-$649,000

2BR/2BA: $800,000-$965,000

3BR/2BA: $940,000-$995,000

The first owners can expect to move in around mid-March. Contact me if you’d like a private tour. But keep in mind that the building is nowhere near finished!

Filed Under: Hayes Valley Tagged With: ,

124 Lily Lives Large in Hayes Valley

January 18, 2010 By Leave a Comment

I saw 124 Lily last week on broker tour, and am a fan of its overall design and presentation. The 2,650-square foot, 4BR/3.5BA home with two-car parking (via use of a sliding metal grate for one of the two cars) just came on the market for $1,895,000.
How does it rank among circa-$2M properties in San Francisco? It’s got a cool, entrance-level family room, which has a fireplace and adjoining patio:

The next level up has the kitchen open to another living/dining area, and an extra little corridor where the stagers have placed a dining table. One drawback to this level is the lack of even a half bath, which means you have to send those catwalk diners either up or down a flight:

Take a walk to the next level up the hiply designed staircase and you’ll find three bedrooms and two bathrooms. And finally, the very top floor has a kickin’ master suite with walk-in closet and a very large, well-designed bathroom:

Though there’s not really a yard—due to the pending subdivision of the lot with 229 Oak—there are a couple well-placed decks. The property is around the block from the International High School that harbors to the French-American and Chinese contingencies, but I don’t see this as a family-style home. For one thing, there’s a lot of glass and hard edges, and secondly, the location is not one that screams out child rearing. The house shares the stretch of Lily between Octavia and Gough, which also has its share of commercial space (like the garage next door). And both Octavia and Gough are heavily trafficked streets, making me nervous for any adventurous kids that spill out onto Lily.

So $1.9M? My take is that 124 Lily is closer to $1.7M, when you balance everything out.

Filed Under: Hayes Valley Tagged With: ,

What You Get For: $1.5M

January 11, 2010 By 1 Comment

The $1.5M price point is actually quite popular in San Francisco, so today we take a look at what you can get for your money: a view home in Noe Valley, former firehouse in Hayes Valley, and what appears to be a wannabe presidential residence on the West Portal/St. Francis Wood border.

Let’s start with 744 Duncan at Diamond, in Noe Valley:

Last sold in 2003 for $1,050,000, the sellers are now looking for $1,495,000 for their 2,000-square foot, 4BR/3BA home with a nice yard and views. There are three bedrooms on the top floor, and this master suite with killer bay and city views:

Next up is 229 Oak at Octavia:

This 2500-square foot home was built in 1913 and originally housed a commercial fire dispatch headquarters. It now has four bedrooms and three bathrooms on two levels, complete with a loft office space, garden and two-car parking. The property sits on the same lot as a newly constructed luxury home on Lily that just came on the market for $1.9M, and the lot will be officially split at close of escrow.

229 Oak was first listed last year at a whopping $1,760,000 and was relisted in December at its current price. The location on Oak between Octavia and Gough isn’t too bad; 101-bound, cross-city commuters will turn right on Octavia, so the 200 block isn’t as heavily trafficked. But it is fairly busy. The property is currently in contract, awaiting its buyers’ close of escrow on their own home. A great house for those who’d love a lower level workspace.

Finally, we have 1550 Portola at San Leandro. If Obama and his family are looking for a San Francisco place, this is probably a good White House substitute (at least, in theory):

The 5BR/4BA home was built in 1920 and boasts 5,000 square feet. There’s a lot of mahagony woodwork, period detail—and wallpaper. Lots of wallpaper.

I couldn’t leave out a photo of my favorite bathroom. Michelle Obama would have a field day redecorating:

The home was first listed in June 2009 for $1,595,000, and then reduced last September to its current price. Portola is another busy street, but for a buyer who doesn’t mind constant traffic outside the door and who’d appreciate the close proximity to the West Portal retail area, this home will do the trick.

Filed Under: Hayes Valley, Noe/Eureka Valley, What You Get For... Tagged With: , , ,

13 New Condos Coming at 15th & Dolores

January 5, 2010 By Leave a Comment

The long-vacant lot and its adjacent historical structure at the corner of 15th and Dolores are finally scheduled to become high-end residential housing later this year (barring one more upcoming “formality hearing”):

The property went through Planning review channels last Fall, and is now slated to host a mix of one- and two-bedroom condos (plus one three bedroom). Development on the land has been battled by neighbors for years, but it looks like the time has come for residential housing to take hold.

The existing structure—originally built in 1904 as a parsonage, which is a house provided for the pastor of a church—will be transformed into three condos, and the lot will ultimately see four stories of ten additional units. Parking will be available for all condos.

The developer is experienced in creating “unique, boutique residences,” according to one of the listing agents for the project. So I’m guessing pricing will be closer to the $1M mark and above for these units. (Luxury properties in established neighborhoods are generally selling at $1,000/sq foot.)

Smaller buildings with luxury finishes seem to be the trend these days, as those buyers willing and able to pay higher prices tend to prefer smaller buildings in well-established neighborhoods with limited development opportunity. And this one is in an extremely walkable, central location in Mission Dolores and straddling the Castro, Duboce Triangle, and Hayes Valley areas.

I’ll keep you posted on this project as it unfolds.

Filed Under: Hayes Valley, Mission, Noe/Eureka Valley Tagged With: ,

LindenHayes Condo Development Ready for Its Closeup

December 16, 2009 By 3 Comments


The 32-unit development with a 98 Walk Score that fronts Hayes, Grove and Linden in the heart of Hayes Valley & its adjacent cultural playground is now officially known as LindenHayes. Floor plans and other details are online now.

The five-story building will feature one-, two-, and three-bedroom unit configurations with air conditioning and an elevator. Sternberg Benjamin Architects designed the project (they’re also behind developments like 3949 Sacramento, 798 Stanyan and Beulah and The Coliseum on Clement) and the look will be crisp, Euro-contemporary.

Finishes are high end, including cabinets by Studio Becker; Bertazoni ranges; Fisher Paykel refrigerators, and Brazilian hardwood floors. Residences will also be pre-wired for computer/entertainment needs.

Grove Cafe will be the commercial tenant, and I’m expecting that presence to really tie in the neighborhood. Locationwise, you’re in walking distance of pretty much everything, including public transportation, restaurants and the Opera, Symphony, and Asian Art Museum.

Pricing is still to be set, but occupancy is expected by February 2010. Agent-accompanied, hard hat tours are available now for serious buyers—give me a call and I’ll get you in anytime between 9:00-4:00PM, M-F.

Filed Under: Hayes Valley Tagged With: ,

Yours Truly Quoted in the NYTimes on FHA Loans in Expensive Areas

November 20, 2009 By 2 Comments

I had the opportunity recently to speak with New York Times reporter David Streitfeld, who was working on a story about FHA loans in high-priced cities. The piece is running today: With FHA Help, Easy Loans in Expensive Areas. (And I’m quoted!)

The upshot of the story is that there’s growing concern that FHA loans—particularly if the loan limits increase—could end up causing the next housing crisis. Streitfeld profiles three San Francisco buyers who got an FHA loan to purchase a two-unit building in Hayes Valley.

Check it out, and let me know if you have any comments at ebermingham@pacunion.com

Filed Under: Hayes Valley, Home Buyer Tips, Market News Tagged With: ,

What You Get For: $950,000-$1M

October 20, 2009 By Leave a Comment

We’ll take a look at three very different properties being offered in the $950,000-$1M price range. For those interested in purchasing a home in San Francisco, this sort of exercise is designed to help you sort through the unique property types that exist, as well as get a feel for the neighborhoods in which they lie.

andersonFirst off is 78 Anderson on Bernal Height’s north slope. This is the more desirable end of the neighborhood, and the 4BR/2BA cottage with one-car parking has vaulted ceilings, an updated kitchen and is about two blocks from the Cortland Avenue main strip. Last sold in December 2007 for $990,000, it’s not clear how the sellers will make out.

Next up is 650 Chestnut #106 in North Beach:
villanorthbeach
I remember showing this property when it was last on the market in June 2005; it ultimately sold for $1,009,000. The 3BR/2BA condo in the Villa North Beach complex at Mason Street is now on the market for $959,000. I liked the unit, though—it was big (about 1600 square feet), and had a very large patio. It’s in walking distance of everything North Beach has to offer, and makes for an easy downtown commute.

Finally, there’s 438 Buchanan,a TIC interest in a three-unit building in Hayes Valley.
buchanan
Yes, it’s located at the busy Buchanan and Oak intersection, and yes, it’s only a stone’s throw from the housing projects. But this recently renovated, 2200+ square foot unit has three bedrooms + a den, 2.5 baths, and is on two levels. It’s the top level that I really liked (above), with its patio and high-end finishes. That’s listed at $979,000. Though the unit is in a three-unit building, one of the units is a commercial space on the ground level. All that’s needed are two buyers who’ll owner occupy the two residential units, and the building can bypass the condo lottery. In the meantime, the seller is keeping the commercial space and is offering wrap-around financing with a down payment of 20% or more at a 6.5% interest rate.

So which one would work for you, if you had to pick one? Please feel free to comment!

Filed Under: Bernal/Excelsior, Hayes Valley, North Beach Tagged With: , , , ,

Walk Score Winners: $900,000-$1M

September 22, 2009 By 1 Comment

Here’s another trio of properties that have high Walk Scores. Today, we check out Russian Hill, Hayes Valley, and Alamo Square.

filbert
1348 Filbert Street
Condo
Russian Hill
List Price: $995,000
2BR/1.25BA
1458 sq ft
HOAs: $166
1-car pkg
Walk Score: 91
On the market for 172 days last year at $1,129,000, 1348 Filbert is now at a more reasonable price. It’s located on a tree-lined block at Filbert and Larkin, and has lovely period detail. There’s also a remodeled kitchen with the whole Wolf range and Miele dishwasher thing going on. In-unit washer/dryer and a roof deck with pano views of the Golden Gate Bridge and Bay.

270linden
270 Linden
Condo
Hayes Valley/Van Ness Corridor
List Price: $999,000
3BR/2BA
1514 sq ft
HOAs: $308
2-car pkg
Walk Score: 98
Also on the market for about 171 days last year at a $1.2M price point, this baby has a whittled down list price and a master suite with marble bath. There’s also a wood-burning fireplace and a huge, private roof deck. Parking is stacked, but you get two spaces. Last sold in June 2007 for $1,230,000, so this is seeming like a pretty good bargain to me.

535steiner
535 Steiner
Condo
Alamo Square
List Price: $969,000
3BR/2BA
2172 sq ft
HOAs: $350
No deeded parking; leased for $350/mo.
Walk Score: 94
Though this unit doesn’t have deeded parking, it’s huge and has high-end finishes. The master bedroom has a gas fireplace and overlooks the garden, and there’s plenty of storage and a full laundry room. Location is a little busy (between Fell & Oak), but at least you’re not on those two thoroughfares.

Filed Under: Hayes Valley, Russian Hill, Walk Score Winners Tagged With: , ,

Three 3BRs for $800,000

August 19, 2009 By Leave a Comment

There was a time when it was a challenge to find spacious, three-bedroom condos for $800,000. I saw three such properties on my broker tour yesterday:

buchanan
425 Buchanan
Hayes Valley
3BR/2BA
1,843 sq feet
$300 HOAs; $250 for leased pkg
This unit features five walk-in closets, two bedrooms with fireplaces, and a nicely remodeled kitchen. The unit was on the market initially back in April, asking $863,000. By June, the current agent took over and reduced the price to $849,000. The most recent price reduction is what’ll probably sell the unit. Plus: Large square footage, very separate bedrooms. Walking distance to heart of Hayes Valley retail area and Market Street. Minus: One block from housing projects; somewhat rambling floorplan that dead ends in odd places; leased parking.

haight
974 Haight
The Haight
3BR/2.5BA
1,778 sq feet
$429 HOAs
1-car pkg
You get two master suites in this condo, and two levels, which makes it feel house-like. The front of the property faces Haight Street, and the rear faces a courtyard. A good fit for a buyer who wants a roommate to offset costs. Plus: Large square footage, very separate bedrooms. Walking distance to Divisadero retail area & Buena Vista Park. Minus: Built in 1987, and not the most appealing exterior/interior in the architectural spectrum.

tiffany
156 Tiffany
Mission/Bernal Heights
4BR/2BA
1,975 sq feet
$185 HOAs
2-car pkg
This condo spans two levels and provides the most square footage of the three. Good closet space, remodeled kitchen. The lower unit, 154 Tiffany, is a 2BR unit pending at a $739,000 list price. Plus: Two-car parking; house-like floorplan; legal two bedrooms and bath upstairs; walking distance to public transportation & lots of restaurants, grocery store. Neighbors are tight. Minus: Some of the neighboring properties are not wildly attractive.

Filed Under: Haight/NoPa, Hayes Valley, Potrero/Dogpatch Tagged With: , , ,

Single-Family Smackdown: 440 Teresita vs. 847 Oak

July 21, 2009 By Leave a Comment

It’s time to pick your favorite between two very different houses in the $1.2M range.

In one corner, we have 440 Teresita, in Miraloma Park:440teresita

This 3BR/2BA, 2200-square foot property has a whole Miami Beach thing going on—though ironically, I think it’d be out of place in Miami Beach. There seems to be a disconnect between the interior style and the exterior (with the exception of pastel paint colors). You’re not far from the Mollie Stone’s/Portola corridor, but as you’d imagine for Miraloma, the Walk Score is only a 77. But the large lot is a huge plus. List price: $1.2M.

847 Oak sits squarely in the other corner:oak

This 3BR/1.5BA, 2200-square foot Victorian is the quintessential San Francisco property. The architect-owner has done a superb job updating the home. Yes, it’s located on Oak, a notoriously busy Hayes Valley street. But if must have an iconic single-family home, this could be for you. There’s also the 92 Walk Score to crow about. List price: $1,175,000.

So which is it, readers?

Filed Under: Hayes Valley, Miraloma Park Tagged With: , ,

Hayes Valley 3BR/1.5BA for under $1.2M

July 1, 2009 By 1 Comment

847oakThe classic Victorian over at 847 Oak features almost 3,000 square feet of living space and three levels. My favorite room is the French Country kitchen, which involves a handmade tile backsplash, built-in breakfast bar and honed granite countertops. The door from the kitchen leads out to a deck and peaceful garden patio. There are three good-sized bedrooms and a bathroom upstairs, with the master bedroom located at the rear of the property. And let’s not forget the two fireplaces, or the bonus room on the garage level.

Compared to other properties of this scale and appeal, the $1,175,000 list price seems very reasonable. The biggest drawback is the fact that Oak is a very busy street in terms of traffic. But once you’re inside the house, it’s pretty quiet. You’re a short walk from both Alamo Square and Duboce Park, and the house is getting a 92 Walk Score. Check it out if you’re a buyer looking for a lot of space with quintessential San Francisco architecture, in a hip location.

Filed Under: Hayes Valley Tagged With: , ,