November 14, 2008

The Spec-tacular 625 Duncan Sells For $5,818,000 In Noe Valley

625 Duncan (www.SocketSite.com)

While the workers are still finishing up, the sale of the spec-tacular 625 Duncan closed escrow last Friday (11/7/08) with a reported contract price of $5,818,000 ($432,000 under asking).

Modern and masterful, 625 Duncan has been brilliantly executed to capture an enormous amount of space in an aesthetically pleasing and functional manner. A steel [cantilevered] entry staircase ascends through terraced [concrete] walls and gardens to the 4bd/4.5ba main house and 1bd/1ba apt below.

And as it's not a single family, the record seeking 3816 22nd Street still has a shot. We’ll keep you posted. And of course, plugged-in.

UPDATE: The current record holding house: Ogrydziak/Prillinger Architects: The T House (purchased for $5.3M in 2005). And yes, just down the street.

Coming Soon: A Noe Valley “Masterpiece In Progress” (625 Duncan) [SocketSite]
The Holy Hotness Of Firehouse 44 (3816 22nd Street) Hits The Market [SocketSite]

First Published: November 14, 2008 9:15 AM

Comments from "Plugged In" Readers

Ahh ... to have more money than brains

Posted by: DataDude at November 14, 2008 9:36 AM

Not for long!

Posted by: tipster at November 14, 2008 10:04 AM

Crap-tacular is more like it.

It looks like one of those tacky lodge-style houses you see in Tahoe.

Posted by: anon at November 14, 2008 10:06 AM

Wow. Nice to be so rich you don't care about the economy... spend spend spend!!

I'm gonna go buy a lottery ticket now.

Posted by: Jimmy (Bitter Renter) at November 14, 2008 10:07 AM

Crimey, that's an ugly bloated building. I think with the modesty that will come from hard times, that house will look repulsive.

Posted by: lark at November 14, 2008 10:07 AM

I boldly predict that $5.818M will be the high sales price in Noe Valley for the next 15 years.

This purchase is what is often referred to as "top ticking" a market.

Still, though, if they like living there and have the money, why not? It's only money, and maybe they have so much of it that they couldn't think of anything better to do with it.

Posted by: Laughing Millionaire Renter in Marin at November 14, 2008 10:08 AM

a few things:
it's surprising how close the artist rendering looks to this picture. Socketsite: did you go out and try to perfectly match your picture to the rendering? well done!

and as I said when we first saw this place a few months ago: I'm honestly shocked that this house sold for so much. Luckily, I'm usually pretty cognizant about how out-of-touch I am with San Francisco RE pricing! (except for the St. Regis Penthouse, that is!)

this home definitely looks better than I thought it would. I'm still not sure that I like it, but overall they look like they did a good job. I hope they put in an elevator though.

lastly: clearly one of these days I'm going to have to agree that Noe is a premier neighborhood... it's just so hard because Noe is so... Noe... but $6M don't lie!

Posted by: ex SF-er at November 14, 2008 10:22 AM

this one is hard to believe. that with 6 mil you would buy this house, now.

is it certain that is really closed??

Posted by: Louis at November 14, 2008 11:10 AM

this is not the real noe valley

Posted by: jessep at November 14, 2008 11:24 AM

I would be concerned about the vacant lot next door. Who knows what kind of monstrosity could appear there in the next year or so.

Posted by: sf_housedude at November 14, 2008 11:41 AM

It may be interesting to see if this "sale" was so the developer could payoff the (probably recourse) construction loan and get a (non recourse) permanant loan. In Bakersfield a developer got caught paying people cash to buy/overpay for the last of his homes so he would not be stuck with them...

Posted by: PresidioHtsRenter at November 14, 2008 11:53 AM

Ok, question for folks on this thread: what do you think this type of house (size of house, size of the lot, great views, new construction, probably not-too-far-from-work) would go for in say Pac Heights or Russian Hill?

I'm definitely not suggesting NV is on par with those places, but just curious as this area of NV is sorta now showing up as the 'prime' of NV due to this sale and another one (awhile back the current record NV sale was nearby to a googler, I think).

My guess is if this same type of house was in Pac Heights with good views like it has / same size / and brand new construction (a big point because if you are paying this much you want exactly what you desire, not a 80yr old kitchen that you have to re-do), it would go for about $7-$8M or maybe more.

I'd say it'd go for $7.5M in PacHeights, and thus, maybe this isn't that unbelievable.

[Editor's Note: The aforementioned Noe Valley record holding house: Ogrydziak/Prillinger Architects: The T House. Purchased for $5.3M in 2005. And yes, just down the street.]

Posted by: DanRH at November 14, 2008 12:10 PM

Hard to judge the price without interior photos and the floor plan. Would love to see them if they're available somewhere.

[Editor's Note: Agreed. Tipsters?]

Posted by: Dakota at November 14, 2008 12:35 PM

I actually like its cubist look.

Architects out there : is "cubist" the proper term for this sort of design ?

Posted by: The Milkshake of Despair at November 14, 2008 1:58 PM

Someone bought their dream house and for 5 mil, you can bet its probably pretty nice on the inside. If you want a this kind of product, you have to pick this up now because you probably won't see another for another 3 to 4 years.

Posted by: Auden at November 14, 2008 2:12 PM

Wait a minute. I thought GOOG was at 310! How is this possible?

Posted by: [fluj] at November 14, 2008 2:29 PM

no, I wouldn't call this cubist. that refers more to a style of painting. It's an eclectic-modern house for sure.

This is Noe Valley, that's for sure..the more hilly part but nonetheless NV..

I live near by and very happy with the design..and the sales price.

after all...this is Noe.

Posted by: noearch at November 14, 2008 2:33 PM

Prague has some cubist architecture. It is not terribly dissimilar to this place, but this would be cubist-lite. The "white guy with bad posture" ornament out front is definitely "Noe."

Posted by: Trip at November 14, 2008 2:39 PM

I talked to the GC at the site 2 months ago. The couple (who purchased the shell) did in fact have more $$ then sense and over paid for stupid not even custom finishes (floors cabinetry plumb etc)from the design center and paid FULL RETAIL---this project has given the gc HEADACHES from the neighbors (look at the complaints at sfgov) and the profit for the gc/developer duo is probably not a lot. Nice house on a lot that is too small in the wrong NIMBY neighborhood- not a lot of love for the new neighbors I bet

Posted by: talk to contractor @ site at November 14, 2008 3:26 PM

A co-worker of mine just closed today on the same street on a newly-remodeled 3 brm 2 bath for $1.1. I wonder how that comp in conjunction with this sale will affect the neighboring sales.

Posted by: massena at November 14, 2008 3:46 PM

Where is the T House in Noe?

Posted by: anon at November 14, 2008 5:10 PM

Someone in Noe is always going to complain about any construction site. Why the heck is that? Is every disctrict like this, or are Noe neighbors worst than most.

Posted by: anonanon at November 14, 2008 8:24 PM

I actually was thinking architecture, not painting. To me cubism in general is the disassembly of an actual tangible form and reassembly into that same form as perceived through an aggregated experience : over time or at different angles for example for visual media like paintings or building facades. The concept has little to do with the geometric solid "cube" but more to do with mapping perceived experience to a form.

Cubism in 3-D sculptural space is really hard to pull off. There seems to be an inherent conflict. The Czech movement feels like it was inspired but stumbled. Some buildings even have sort of a New York Deco look to them. It would be easier to perform a cubist dance than construct a true cubist building.

Some sites with photos Czech cubist architecture :

http://lava.ds.arch.tue.nl/gallery/praha/tcubism.html
http://www.e-architect.co.uk/prague/prague_cubist_architecture.htm

I'm still a bit mystified by cubist architecture. Any help here gladly appreciated !

Posted by: The Milkshake of Despair at November 14, 2008 9:47 PM

Here's a picture of a woman coming down the "cubist" stairway.

http://www.beatmuseum.org/duchamp/images/nude2.jpg

Posted by: jlasf at November 15, 2008 4:29 AM

no, I wouldn't call this cubist. that refers more to a style of painting.

I didn't know about cubist architecture either. I knew there was cubist sculpture, of course. This one is a very famous Picasso: http://www.cartage.org.lb/en/themes/arts/scultpureplastic/SculptureHistory/European20thCentury/CubistsculpturePicasso/PicassoHead/PicassoHead.htm

The pictures inside those links Czech buildings are very beautiful. The style is very sort of imperial, isn't it? Very Eastern Europe, and fitting.

Posted by: fluj at November 15, 2008 8:52 AM

Ah yes, Duchamp : the original one hit wonder of cubism (of course he had many more significant hits in Dada and other forms). Interesting how so many artists of the period dabbled in cubism and abandoned it like a fad. Only a few like Picasso really stuck with it.

I found this interesting paper from Vancouver Island U. on cubist architecture : http://records.viu.ca/~johnstoi/praguepage/cubismlecture.htm

The author strives to answer exactly this question. In summary, the Czech architectural meaning of "cubism" seems to be almost completely unrelated to the western European concept.

Posted by: The Milkshake of Despair at November 15, 2008 9:17 AM

does it have an elevator? so, now we know where the market is for the spectacular-spectacular

Posted by: suzyq at November 16, 2008 2:30 PM

This house was bought by Bruce Gilpin Jr., COO of MobiTV, a TV and radio service for mobile phones.

Posted by: JKD at December 18, 2008 10:43 AM

JKD: But how does he get to work in Emeryville on muni ? :)

Posted by: dub dub at December 18, 2008 10:52 AM

Have you always been such an anti-transit guy dub dub? How did you get around when you lived in Noe Valley?

Posted by: NoeValleyJim at December 18, 2008 11:54 AM

I realize the comment was made in jest, but just for the record, there's a free shuttle in Emeryville that takes shoppers/workers/residents to and from BART to the business areas, and there is also an express bus to/from the City that stops right in front of MobiTV.


Posted by: RenterAgain at December 18, 2008 12:09 PM

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