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What You Can Buy: North End Condos for Up To $1M

May 17, 2013 By Leave a Comment

It can be a challenge to find a 2BR condo with parking in classic San Francisco neighborhoods such as the Marina, Nob Hill, and Pacific Heights. Today we look at three properties that fit into that price range:

1655 Chestnut #302
The Marina
2BR/2BA, 1100 sq ft
HOAs $523/month, 1 pkg
$965,000

The Scoop: One of the few properties that isn’t in a liquefaction zone in the Marina, 1655 Chestnut #302 boasts a top-floor position in an 11-unit building, along with neighborhood views from the living/dining areas. Well appointed with Brazilian cherry wood floors throughout, the unit has a remodeled kitchen with high-end appliances, and skylights. The building has a roof deck, garden/BBQ area, storage, and an elevator.

The Location: 1655 Chestnut is about three and a half blocks from the heart of the Chestnut Street retail area, so you’re out of the fray a bit and don’t have to deal with constant activity outside your door. It’s also an excellent location for North Bay commuters, who can jump on Lombard and head to the bridge. Many bus lines run nearby to downtown, as well.

Background Check: The unit last sold in 2007 for $951,000.

939 Jackson #202
Nob Hill
2BR/2BA, 1088 sq ft
HOAs $397/month, 1 pkg
$939,000

The Scoop: 939 Jackson #202 is perfect for the Nob Hill buyer on a budget. Though you don’t get views, you do get decent space in a newer, 2005-built property. The unit has nice finishes and an open kitchen/living/dining room floor plan. Bedrooms aren’t huge, but are nicely painted. Jackson is right on the cable car line (though the unit is located at the rear of the second floor, so it’s quiet). And there’s a great roof deck with 360-degree views.

The Location: The only problem here is that you may have more house guests than you might want; you’re in walking distance to North Beach, Russian Hill, Chinatown, downtown, and Union Square.

Background Check: #202 just sold in June 2012 for $903,000. #301 in the building is currently in contract with a list price of $949,000; that unit had views from every room and was one floor up.

2315 Divisadero, Unit S
Pacific Heights
2BR/1.5BAs, 1115 sq ft
HOAs $432/month, 1 pkg
$879,000

The Scoop: My favorite of this trio, 2315 Divisadero unit S has newly reinvigorated common areas and gets great natural light. It’s on the top floor of a nine-unit building constructed in 1962, and has an open dining/living area. The kitchen is on the small side and is tucked at the rear of the unit, but it’s totally workable and clean. The master has only a half bath, but it’s better than one bathroom for the whole place. The unit’s hardwood floors have recently been refinished, there’s a wood-burning fireplace, and designer lighting fixtures. And don’t forget about those common areas, they’ve been painted, had carpet replaced and new front doors for each unit installed (with plantation shutters for the hall windows on the way). There’s an elevator in the building.

The Location: Though you’re right on Divisadero, the unit is quiet with the windows shut and you can’t beat the central location.

Background Check: Six of the nine units are rentals, so your choice of lenders will be limited to First Republic. No 30-year fixed loans available, but you can get a 15-year fixed at a low interest rate.

Filed Under: Condos, Marina, Nob Hill, Pacific Heights, What You Can Buy Tagged With: ,

What You Can Buy: Two-Unit Buildings

May 8, 2013 By Leave a Comment

Two-unit buildings in San Francisco that are eligible for one or two owner occupiers are one of the most desirable multi-unit property types in San Francisco. Two buyers interested in partnering up and living in both units while they pursue a fast-track condo conversion are great prospects for such a building, as is an owner occupier who wants to reside in one unit and rent out the other. (The latter doesn’t allow that owner to circumvent the condo lottery, but it can be an excellent way to afford a home that you otherwise may not have been able to purchase without factoring in rental income.)

I wanted to highlight three two-unit buildings that I think are great prospects. If you’d like further details on any of these properties, or would like to talk more about the ins and outs of purchasing two units, please contact me. I’ve owned my two units in Noe Valley for many years, living in one unit and renting out the other. So I can tell you firsthand about the ins and outs.

Here are my two-unit picks at the moment:

2583-2385 Greenwich Street / Divisadero
Cow Hollow
$1,379,000

This is an excellent opportunity to purchase a pair of flats which will be delivered vacant, as the owner resides in one unit and will be moving. There are two 2BR flats with a combined square footage of 2240. This is the first time 2583-2385 Greenwich has been on the market in 30 years, so you can expect a need for cosmetic updates—not a bad way to increase value right away. The property has its original 1930s detail intact, from a large fireplace to crown moldings. There’s a three-car garage that provides three independent spaces, one of which is rented. For buyers seeking outdoor space, this isn’t the property for you, as the building takes up the entire lot. But you can certainly look into the possibility of adding a roof deck, which would pave the way to Bay, Golden Gate Bridge and Alcatraz views. This location is central to Union and Chestnut Streets, North Bay commutes, and Muni lines.

17-19 Ford/Sanchez
Eureka Valley
$1,785,000

17-19 Ford is a prime two-unit building in a great Eureka Valley location. Each flat has 2BR/1BA, and are roughly 1500 square feet each. The property has been improved with refinished floors, double-paned windows, new electrical and plumbing and seismic upgrades. Kitchens in each unit have been remodeled with new appliances. There are southern views from the bedrooms, plenty of storage, large bonus rooms, and both units will be delivered vacant. This is an excellent fit for two TIC partners looking to condo convert—and who’d rather not be bothered doing their own renovations. Though the location is technically Eureka Valley, Ford is only a block and a half to Dolores Park, three blocks to Castro Street, and is an easy stroll to the heart of the Valencia corridor.

1027-1029 Washington/Powell
Nob Hill
$1.2M

1027-1029 Washington is a two-unit building that will be delivered vacant and could use updating, so this is another one perfect for TIC partners looking to condo convert. There are two 2BR/1BA units that are around 1,000 square feet each, and a one-car garage. The building is situated in a busy part of Nob Hill/Chinatown, about two blocks from the top of Nob Hill and three blocks from the Financial District. So that makes it a good prospect for buyers who work downtown and want to be able to walk everywhere. There’s also plenty of public transportation nearby.

Filed Under: Cow Hollow, Nob Hill, Noe/Eureka Valley, TIC's & Multi-Unit Bldgs, What You Can Buy

Nob Hill’s Marlow Launches Condo Pre-Sales

April 19, 2013 By Leave a Comment

I visited the sales office for Marlow, the 98-unit condo development currently under construction at the corner of Van Ness and Clay in Nob Hill. The building will be move-in ready in early 2014, but the sales office has started selling units and already has ten units under contract.

Marlow is a mix of one- and two-bedroom units, as well as three-bedroom townhomes across eight stories. Floor plans include either units with or without dens, which is the main distinction.

Finishes include white quartz countertops, natural walnut cabinets, porcelain backsplashes and tiling, and stained maple floors. (Refrigerators, microwaves, and washer/dryers are not offered in the purchase prices.) The kitchen counter features a media station for charging your electronic devices:

Bathrooms have equally nice finishes:

Amenities include independent parking for each unit, bike storage (but no additional storage), three carshare spaces, air conditioning (in San Francisco, no less), and half of the homes have some sort of balcony for outdoor space. Windows are “double-, triple- and quadruple-paneled,” as per the sales office. And the common area is “Marlow Park,” which is an open space on the ground level that will feature a bocce court, grill, and firepit. There’s no roof deck.

Pricing is at a premium, ranging from $922-$1200/square foot. Units being offered now range in square footage from 671-1267 square feet, with the least expensive condo being a 746-sq foot 1BR + den on the second floor listed at $689,900, and the most expensive being a 1231-sq foot unit on the fifth floor listed for $1,232,900. Monthly HOA dues are $540-$667.

Buyers who want first pick of the available units will have to be content making their decisions based on floor plans and depicted views and other details via the sales office’s touch screen display. Those ten buyers already in contract are betting that Marlow’s condos will be worth current prices when the building is finally ready for occupancy in early 2014.

I like Marlow’s design and amenities, and believe that the units facing north, east and south will be the best ones. West-facing units that front Van Ness are the ones with the quadruple-paned windows, no doubt, and will require buyers who are less sensitive to noise—or ones who’d be happy running air conditioning and keeping the windows closed. The location is extremely central to the Polk Street corridor’s shops and restaurants, and is in walking distance of the Financial District. Given the limited new development opportunities in the well-established neighborhoods of Russian/Nob Hills, Marlow offers a good opportunity for buyers looking for shiny, new finishes in a convenient location.

If you’re interested in independent representation at Marlow, please contact me and I will schedule a visit to the sales office for us. The sale process in new construction is unique, and I can use my experience in this area to help you make the right decisions, as well as navigate all the ins and outs of the process.

Filed Under: Condos, Neighborhoods, New Developments, Nob Hill, Russian Hill Tagged With:

Inventory Down, But Don’t Overlook Older Listings

November 9, 2012 By Leave a Comment

It’s no secret that San Francisco housing inventory is pretty low right now. The above graph shows you how inventory levels have steadily decreased over the past two years.

So in one corner, we have prospective buyers out there who are feeling an urgent need to make a purchase, fueled by high rents and low mortgage rate. But in the other corner, we have a limited supply of homes to meet the need. What’s a buyer to do?

Answer: Don’t fall into the trap of only considering new listings. It may take a little more work and negotiating, but hunting down a home that’s been on the market for 30+ days may turn out to be the solution. With that in mind, I’m going to regularly feature trios of these types of listings across all property types and price ranges. Sometimes calling such listings to buyers’ attention gets the wheels turning.

939 Jackson #303 / Nob Hill
List Price: $869,000
2BR/1.5BA, 1131 sq ft / Built 2005
Days on Market (DOM): 75

Background: 939 Jackson #303 is one of those centrally located condo listings that makes me wonder why a buyer hasn’t yet snatched it up. The unit features an open floor plan, city views, nice finishes throughout and a limestone-tiled gas fireplace in the living room. One-car parking is included, and there’s also a shared roof deck. There are nine units in the building, and HOA dues are $396/month.

Location: Two cable car lines pass by, and the building is in walking distance of North Beach, Russian Hill, Chinatown, Financial District and downtown.

Market perspective: The average 2BR condo sale in Nob Hill from June-November 2012 clocked in at $970,758 for an average of 1280 square feet, and the most relevant comp is the 2BR on the same floor with similar square footage that sold in August for $905,000. Current list price is $869,000, down from $888,000.

290 Dorantes / Forest Hill
List Price: $1,385,000
3BR/3.5BA, 2464 sq ft / Built 1948
Days on Market (DOM): 62

Background: 290 Dorantes is a detached, mid-century single-family home with a nicely remodeled kitchen, two bedrooms on the main level and a master bedroom up. There are three decks, as well as a lovely garden. A bonus room and bath are downstairs, with a separate entrance, along with two-car parking. (And a termite inspection on file for only $3,000 in recommended repair work.)

Location: 290 Dorantes is in proximity to the West Portal retail area, and also happens to be located on a lovely, tree-lined street.

Market perspective: The property came on the market with an initial list price of $1,450,000, so the price has come down considerably since then. The 3BR/3.5BA home next door just sold for $1,485,000.

997 Carolina / Potrero Hill
List Price: $579,000
2BR/1BA, 1067 sq ft / Built 1978
Days on Market (DOM): 104

Background: It’s a challenge to find a two-bedroom condo in the city in this price range, as some of my buyer clients will attest. Take note of 997 Carolina, a well-appointed unit with a split-level floor plan that provides a nice separation between living space and bedrooms. The unit has pano views and access to a large, private deck, as well as a shared yard and one-car parking. And there’s a fireplace in the living room, too. There’s only one other unit in the building, and HOA dues are $80/month.

Location: 997 Carolina is situated in a reasonable location within Potrero that has an 83 Walk Score.

Market perspective: The unit was originally listed for $649,000, and last sold in 2006 for $665,000. The sellers just reduced the price yesterday from $599,000 to the current $579,000. Good comps for 997 Carolina are two 2BR condos that sold in June 2012 on the 600 block of Carolina for $700,000 each.

Filed Under: Forest Hill, Nob Hill, Potrero/Dogpatch Tagged With: , ,

Sellers in Parkside, Nob Hill Adjust to Market Realities

July 13, 2011 By Leave a Comment

It’s always a pleasure to report sales that have finally happened after umpteenth days on market (otherwise known as “DOM” in Realtor speak). I spotted a couple such sales that closed last week, and wanted to share the deets with you.

We stop out in the Parkside for the first sale–on the Great Highway, to be precise:

The lucky buyers of 2518 Great Highway can now lay back in bed and watch HBO against the ocean view backdrop, knowing that they paid substantially less than the original list price. The 3BR/2BA single-family home at Great Highway and Vicente was first listed in March 2011 for $1.4M. The property had been nicely remodeled and feature three levels with good space. But $1.4M for the Great Highway? Buyers thought otherwise, and the house sat on the market for 112 days before a buyer paid cash and closed the sale for $990,000. You go, buyer.

Next up is 1201 California #705, a condo in the Cathedral Tower:

This 2BR/2BA unit had city, Bay and Golden Gate Bridge views, along with an open floor plan, spacious master bedroom and one-car parking (not to mention leased parking fees of $240/mo and HOA dues of $1640/month). First listed way back in November 2008 at $1,195,000, the economy progressively didn’t cooperate. The sale closed last week for $750,000. Woo-hoo.

But buyers, don’t let these sales trick you into thinking that you can easily write a lowball offer in the first couple months of a property coming on the market. In most cases, sellers with wildly overpriced properties will need much time (see the above cases) to relent. Their situations can change, and other comparative sales can end up convincing them to let go of their pipe dreams. If a home in San Francisco is priced well (i.e., in line with comparative sales over the past three- to six months), that home will likely go into contract and sell within a very reasonable period of time.

Filed Under: Home Buyer Tips, Nob Hill, Sunset/Parkside

The 5 Best Neighborhoods for NY Transplants

April 26, 2011 By Leave a Comment

I moved to San Francisco from New York thirteen years ago, and frequently work with many New Yorkers who have relocated here. New York is definitely a world of its own, and I must admit that I was a bit worred when I moved to San Francisco; in my mind, I’d have to drive everywhere, and things wouldn’t be as central. After all, San Francisco’s layout is different in that downtown feels like Manhattan, but everywhere else seems like outer borough neighborhoods strung together—at least, at first. It takes some time to realize that many San Francisco areas are little New Yorks unto themselves.

But as time went on, I found myself gravitating toward certain neighborhoods that either had a New York feel to them, or which had the attributes I appreciated about Manhattan life. For all you New Yorkers thinking about moving west, here are my picks for San Francisco neighborhoods that will make your transition easier:

1. South Beach. Home of more recently developed condo buildings, South Beach has a prime waterfront location and an excellent micro climate. AT&T Park and the Giants reside there, so you get your New York-level crowds whenever there’s a home game day. You can easily walk downtown or jump on the freeway to head south, and the BART/Muni stations are not far away at the Embarcadero station at Market. There are great restaurants in South Beach like Marlowe and Tres, and plenty of bars and design stores. For a Gramercy Park-style respite, you can hang in South Park and visit one of the many cafes or restaurants that line that circular refuge.

2. Nob Hill. Perched above downtown, Nob Hill is old San Francisco at its best. It has the most New York feel of all the neighborhoods listed, and has some excellent little restaurants. It’s also in close proximity to Chinatown and North Beach, and Russian Hill. Big bonus are the views, which come naturally due to the elevation. In other words, if you can’t afford a view condo, you can at least see views when you walk around outside.

3. Mission Dolores. With a more hipster feel to it than that of the other neighborhoods, Mission Dolores is a hotbed of cafes and restaurants. You’ll feel right at home waiting on line behind the cordons for BiRite’s ice cream on a weekend afternoon. Muni rail lines and BART whisk Mission Dolores dwellers to any point in the city. Though you might miss Central Park, Mission Dolores Park is not a bad substitute if you’re looking for a place to lay your blanket. And it has excellent city views from some points in the park. Head east past Valencia, and you’re in the heart of the Mission District’s restaurant kingdom. 

4. Noe Valley. I’m a little biased on this pick, as I live in Noe now. Actually, I’m in what’s called Upper Noe, which means I can walk to the Mission/Bernal Heights, as well as the 24th Street retail strip in Noe Valley. We’re ten minutes’ walk from BART, and nearby Church Street hosts the J line that runs downtown. There’s also a nice microclimate, particularly when you’re located in the east portion of the neighborhood. Noe is big on kids and dogs, but having them isn’t a requirement.

5. Lower Pacific Heights. Fillmore Street’s retail strip runs right through Lower Pac Heights, and the housing stock is varied. You can find large buildings with spacious floorplans, or Victorian-era properties that smack of quintessential San Francisco. It takes about 15-20 minutes at the most to drive from the area to any other neighborhood in the city, and there are plenty of bus lines that run in all directions. You can walk to Japantown, Pacific Heights and Alta Plaza Park, and even downtown if you’re so inclined.

Give me a shout if you’re in the process of relocating. I handle sales exclusively, but also know some rockin’ leasing agents that could point you in the right direction of you’re planning to rent.

Filed Under: Home Buyer Tips, Mission, Nob Hill, Noe/Eureka Valley, Pacific Heights, SoMa/South Beach Tagged With:

SoMa Bowling, Battle of the Avenues

March 28, 2011 By 1 Comment

The latest MarketTracker gives you the update on the Lucky Strikes bowling lane in SoMa, and takes a look at a deconstructed Nob Hill penthouse. Plus: Battle of the Avenues in the Richmond and Sunset, and sales stats for the past two weeks.

It’s all here in the Zephyr MarketTracker.

Filed Under: Market News, Nob Hill, Richmond/Lake, SoMa/South Beach, Sunset/Parkside Tagged With:

Preview: Nob Hill 2BR/2BA for $799,000

January 12, 2011 By Leave a Comment

I previewed a nice condo at 66 Bernard Street #1 in Nob Hill this morning on our Zephyr broker tour.

Located on the first floor of a three-unit building, the property has 2BR/2BA, a deeded private patio and one-car parking. It’s not a huge property–square footage clocks in at just under 1,000 square feet. However, you get a master suite, remodeled kitchen, living room/dining area with deck, and a wood-burning fireplace. Plus, HOA dues are only $200/month and the building was constructed in 1987—so it’s as modern as it gets in Nob Hill without being completely new construction.

#1 was last sold in 2005 for $825,000, so the list price this time around takes the current market into consideration.

For those of you unfamiliar with where Bernard is, click here.  It’s on the Russian/Nob Hill border and you’re therefore close to North Beach, downtown and Telegraph Hill. There are plenty of services and shops nearby, and the Walk Score is 91. Give me a call if you’d like to see 66 Bernard #1, and I can get you in before the property officially hits the market.

Update: This unit was reduced at the end of January to $759,000.

Filed Under: Nob Hill

Open House Spotlight: 1555A Sacramento in Nob Hill

September 3, 2010 By Leave a Comment

If you’re one of the few souls staying home this weekend in the city, you might be interested in checking out some open houses. Nob Hill is a great place to do this, as you can mix in some brunch and sightseeing along the way.

So head over to 1555A Sacramento Street, where this 2BR/1BA cottage is listed at $969,000. There aren’t many places in the north end of San Francisco where you can get a two-bedroom single-family home for this price. The property is located on a shared parcel, with an HOA. But it is fully detached, and has a desirable open floor plan, private rear deck with spa, and a living area with a 16-foot, vaulted ceiling. There’s also parking for one small car. 1555A Sacramento is between Hyde and Larkin.

Open 2:00-4:00 on Sunday.

Filed Under: Nob Hill Tagged With:

Update: 238 Olive Condos Return with Refreshed Prices

August 30, 2010 By Leave a Comment

I stopped in to see the newly built condos in mid June over at 238 Olive. I liked the overall finishes and spaces, but questioned just how many people would want to live on that particular street.

Two of the eight 2BR/2BA condos are in contract, and one is closing next week, according to the listing agent. Prices originally ranged from $739,000-$819,000. However, the remaining five condos took a summer hiatus; they’ll be back in mid September priced from $699,000-$789,000. Though the location isn’t the most desirable in the world (I’ve never yet met a buyer who preferred to live on the “Van Ness/Civic Center” corridor), it is convenient to a lot of other neighborhoods, and the new pricing may make up for that factor.

Filed Under: Condos, New Developments, Nob Hill Tagged With:

Updates: Warfield Condos Crash, Blue Church Condos Pray for Cash

August 25, 2010 By 2 Comments

Things looked promising for the hip “office condos” at The Warfield building when they hit the market in mid May. Seven of the eight floors were being offered as commercial office condos with a special use that would allow for residential dwellings. Prices for the spaces ranged from $1,339,000-$1.4M. Thrown in with each purchase were eight tickets to all performances at the Warfield Theatre.

But unfortunately, the Planning Department has squashed potential buyers’ rock star dreams. Shortly after Pacific Union International started marketing the properties, according to one of the listing agents, city planners decided that they didn’t agree with the seller’s interpretation of the “accessory use housing” designation which allowed for 25% of the space to be used for residential purposes. The result? The units can only be sold now as commercial condos. There are two companies currently negotiating to lease several of the floors.

In other news, the infamous “blue church” condos as the corner of 28th and Church in Noe Valley are officially on hold once again:

The former church was demolished in October 2009, after a protracted battle between the church’s pastor and the property developer. But then…Nothing happened. Rumors recently began circulating that the property was going to revert back to the pastor.

Here’s the latest: J Branch Development is currently trying to obtain financing for the project, according to lead architect Tony Kotas at Kotas/Pantaleoni Architects. Unfortunately, lending is at a premium, and this has become a huge challenge. In the meantime, the developer is planning to maintain the site by cutting back weeds and cleaning things up in response to growing complaints from neighbors.

Filed Under: Condos, New Developments, Nob Hill, Noe/Eureka Valley Tagged With: ,

Walk Score Winners: Cool Condos in Eureka/Cole Valleys & Nob Hill

August 2, 2010 By 1 Comment

If you’ve recently started looking for a home in San Francisco and need a “walkable” location, I’m here to help. Today we take a look at properties with high Walk Scores. Here’s a sampling of what’s out there:


45 Hancock #2
Eureka Valley
List Price: $949,000
2BR/2BA
HOAs: $276/mo
1-car pkg
Walk Score: 91
This is a spacious unit built in 1998 and is a stone’s throw from Dolores Park. It’s got an elevator, fireplace, and patio, as well as a chef’s kitchen and laundry room. A great property for a buyer looking to be in walking distance from Mission Dolores haunts and the Castro. The J Church stop is about three blocks away.


1355 Pacific #104
Russian/Nob Hill
List Price: $949,000
2BR/2BA
HOAs: $419.64/mo
1-car pkg
Walk Score: 95
Located in the newly built 23-unit property at Pacific and Hyde, this condo is about 1,091 square feet and has a large, private patio. There’s a Viking range in the kitchen, a furnished common roof deck with Golden Gate bridge views and a bbq. Also included are a washer/dryer and storage. 1355 Pacific is a great building for downtown commuters who want high-end finishes.


1131 Shrader
Cole Valley
List Price: $1,049,000
2BR/1.5BA
HOAs: $250/mp
1-car pkg
Walk Score: 95
This lower flat in a two-unit building is pretty spacious, clocking in at around 1,564 square feet. It’s got all the classic 1920s details, along with a modern kitchen, fireplace, formal dining room, laundry closet and shared yard. You’re in the heart of Cole Valley, so you’re near all the shops and Muni station.

Filed Under: Cole Valley, Nob Hill, Noe/Eureka Valley Tagged With: , , ,

238 Olive Offers Eight New Condos on Random Street

June 17, 2010 By 1 Comment

I stopped in to see the new condos at 238 Olive this week. There are eight 2BR/2BA condos with split floor plans, meaning the bedrooms are located on either side of the open kitchen/dining/living area. Finishes include Euro-style cabinetry, Ceaserstone countertops, porcelain-tiled backsplashes, and high-end appliances. There are two units per floor, and square footage ranges from 997-1,102.

Pricing starts at $739,000 and goes up to $819,000 for a unit on the top floor. Kitchens like these are becoming almost standard in new condo developments:

But they are quite crisp and modern. And there’s also a solar-powered roof:

The units have reasonable space, and are nicely done. I think the biggest drawback is the location; Olive is on a small street between Van Ness and Franklin, and Ellis and O’Farrell. So you have to be okay living on what’s known as the Van Ness corridor—an area that’s near desirable neighborhoods like Hayes Valley and Lower Fillmore, but isn’t exactly where you want to be. The block itself is all right; you’re adjacent to a large commercial building, which looks like a partial parking garage. Outlooks aren’t great, but the units get decent natural light. And if you buy #502—the top-floor, rear unit—you’ll get an awesome view of every local satellite dish atop all the neighboring buildings.

None of the eight units are in contract yet. Biggest competition is probably right around the block at The Artani, which also has two bedrooms in the $700,000s. But that building has a lot more units (52), so those looking for a smaller, lower-key building might prefer 238 Olive.

Filed Under: Condos, Hayes Valley, New Developments, Nob Hill Tagged With: , ,

What the Median Price Will Buy You in SF: Condo Edition

May 20, 2010 By Leave a Comment

We take a look today at the median price in the San Francisco condo market, and what you can get for your money at this price point.

The median price for the 247 reported condo sales since April 1st is $689,000. Here are three properties that are listed for exactly that price:

The first is a 1BR/1BA at 25 Hotaling, a new project in the Jackson Square district downtown. I really liked Hotaling; it’s excellent for buyers looking for a pied-a-terre in an area that gets pretty quiet at night.

We move on to 3919 21st Street in Eureka Valley. I toured this property when it was listed back in mid March. It’s about 700 square feet, and is located on a secluded part of 21st Street, at the rear of the lot. There’s no parking, but there is a lot to walk to in the neighborhood (as well as lots of ZipCars nearby):

The owners paid $645,000 in 2006, so the list price is obviously designed to cover selling costs.

And finally, here’s 301 Bryant #D31, a 914-sq foot 1BR/1BA in great South Beach location:

One glitch here is that the unit is tenant occupied, which is something to consider if you’re not looking to purchase investment property. This is a bright corner unit with a spacious bedroom. HOA dues are $442/mo.

Filed Under: Condos, Nob Hill, Noe/Eureka Valley, SoMa/South Beach Tagged With: , , ,

Get Your Rock Star on at the Warfield Office Condos

May 12, 2010 By 2 Comments

I visited the Warfield building at 988 Market & 6th Street yesterday on broker tour to see the new “office condos” that just hit the market.

A bit of history: The Warfield was designed by Gustav Albert Lansburgh, and was constructed between 1921 and 1922 in a Renaissance Revival style. The Warfield Theatre opened in May 1922. The Examiner once occupied the building, and Al Capone apparently used the building in the 1920s, too.

There are a total of eight floors of space, with seven floors being offered as commercial office condos and zoned C3G with an allowance for what’s known as Accessory Use Housing. This means you can use about a quarter of each floor for residential use, and the rest of the space for a variety of uses. Floors 2-5 will share a wall with the famous Warfield theatre, but the top three floors definitely have residential possibilities.

Square footage ranges from 4,601 for the second floor, to 5,118 for the 8th floor. The latter is the penthouse unit, which is the only fully developed one. I pictured Lenny Kravitz living here and shooting that video with Gina Gershon. My favorite part is the cassette-embossed cabinet in one of the bathroom areas:

And I also liked the “office” part of the floor:

The penthouse includes a huge attic space, as well as a 5,000-square foot roof deck. It’s being listed at around $2.5M. Included in the mix are a purple bedroom and adjacent fuschia half bath.

The other units are presently “warm shells,” meaning they’re waiting for development. I checked out unit 5, which looked like this:

Prices for the other office condos range from $1,339,000-$1.4M. Unit 6 has a half-acre deeded roof space, by the way. Some other tidbits: HOA dues are $1,000/mo; parking is available for $180/mo; and each owner is guaranteed eight tickets to every performance at The Warfield.

You can also buy the actual Warfield auditorium for $10M. Or the whole damn building for $22M. Drum solo, please.

I say: Get in there and set up shop by the end of June. Then you can get your eight seats for the Sharon Jones & the Dap Kings show on 6/25.

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