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Real Estate Update for San Francisco Homebuyers and Sellers |
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Most Recent Sales citywide in the last 21 days:
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In This Issue
San Francisco Market Overview
Construction Update: 1080 Sutter
Come Sail Away
Your Own Castle to Keep |
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| San Francisco Market Overview |
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Single Family Homes |
Condos/TICs/Lofts |
2-4 Units |
Median Sales Price, last 180 days
% Change from prior 180 days
Avg. Days on Market, last 180 days
% Change from prior 180 days |
$725,000.00
-4.61%
59.4500
+6.52% |
$660,000.00
+1.46%
84.2638
+14.82% |
$1,075,000.00
+1.03%
76.9325
-14.76% |
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Construction Update: 1080 Sutter
With each new issue in 2011, we’ll feature a new residential or mixed-use project. Today, we start with a project that’s been in the works since 2009.
1080 Sutter Street
Today: A street-level parking lot
The Future: An 11-story, mixed-use building
The Scoop: 35 total residential units (22 3BR units), approx. 1,100 sq. ft. of ground floor retail space, and 31 parking spaces (29 deeded & 2 car share)
The project application process began in 2009. Several recent changes presented at the Planning Commission meeting on January 13th are expected to gain approval soon.
Groundbreaking could take place as early as this spring, pending approval. If all goes well, new units could potentially be availably by summer of 2012. |
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| Come Sail Away |
| Flash forward to 2013: You are on the Embarcadero waterfront watching the world’s finest sailors race in swift, 72-foot catamarans for the most prestigious trophy in all of sailing, The America’s Cup. Thanks to Team Ellison and the City of San Francisco, San Francisco will host this international event. Spectators from around the world are expected to flock to the City.
Not a sailing fan? Fear not, you too can benefit from the City by the Bay hosting this event. In addition to an expected boost in tourism during the event, the current eye sore that is Seawall Lot 330 will be extensively renovated and remodeled for the event thanks to Team Ellison. The site will eventually become home to a condo building (or buildings) and also have the ability to host future regatta and sailing races.
Let’s hope Team Ellison recognizes a great hole-in-the-wall and leaves Red’s Java House for future generations of San Francisco to suffer heartburn from! |
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| Your Own Castle to Keep |
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Located at 881 Innes, Albion Castle has endured a long, strange trip. In 2005, it was auctioned at the Palace Hotel and sold for $2,090,000. This represents a mere $1.6 Million increase from the 1999 purchase price of $400,000.
Located in Hunters Point, the 4BR/2BA property was extensively renovated by the current owner. It houses underground springs that produce 10,000 gallons of water per day. Purchased by a mortgage broker, the intended plan included the reopening of the Albion Ale and Porter Brewery, complete with a full-functioning brewery and restaurant. (Note: This was the original intention and name of the structure when it was built in 1870).
The plans fizzled like warm beer, and the owner put the property on the market in 2009 for $2,950,000. Nearly 2 years later, the property still sits on the market. It recently underwent two price reductions and now is on the market for $1,499,000. Apparently, some seller financing is available.
If you’ve ever dreamed of living like a king, now’s the time to buy your castle! |
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| Cheryl Bower 415.999.3450 cheryl@cbower.com www.cbower.com |
Recent listings, sales, and market data are based on information from the San Francisco Association of Realtors MLS for the periods shown.
Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. |
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