As a general rule we don’t point out properties we’ve previously featured until they’ve actually closed escrow. But we did take some heat for suggesting that 4356 25th Street could quickly go into contract (and to see it while you could). And well, in contract it is.
Of course we’ll let you know if it falls out of escrow (and you’ll have another chance to peruse), or as always, when it closes (and for how much).
∙ 4356 25th: A Modern Mid-Century Modern AIA Home Tour Home [SocketSite]
I visited the open houses this weekend in Noe. They were pretty quiet except this one— really heavy traffic, people were clearly impressed with the home. It’s not surprising that this one went into contract quickly, even in this environment. There are still folks out there with money, and if you wanted to build a home like this for yourself from scratch in Noe, good luck. It can take YEARS, so the value is there to pick up a home like this if you love it. Good call SS.
It shows the value of good design.
One person nags you for saying “and yes,” so you go with “And well,”. LOL. Nice call and way to point out value when we do see it. I do think that there are some opportunities out there for the diligent. Whether this place (or any place) pans out to be a good ‘investment’ over the next 5 years remains to be seen.
I’m disappointed to not see the usual snarky, condescending naysaying from LMriM. Here, I’ll save him/her the trouble:
“You will probably have to wait until the future buyers get foreclosed and the bank has to puke up the property (and then get this at 40% of the original contract).”
Also stopped by this weekend, and echo the same comments of auden.
I really like the place but I think my expectations were too high because while I loved the main (top) floor, the other floors were good, but not ‘amazing’ – probably just had my expectations too high.
That being said, the main floor, the way the view is just completely outlined by the roof/walls/floor, along with the skylight doing the job of lighting the place so well, was really impressive.
It’s a cool looking house. I think there’ll always be a market for good design in a good location in top tier markets like SF. And like someone mentioned above, a lot of cash buyers or otherwise well-heeled buyers don’t care about the quality of the investment as much as about having a great place to live. And more power to them.
This is a nice reminder to the bears here: this isn’t indicative of a trend, but it certainly shows that the best properties are still going to attract buyers. I’ve been seeing it at the lower price ranges also.
I am wondering how this comps with neighboring properties. It seems there are indeed buyers willing to pay a premium for a good remodel. This is encouraging for the seller of the San Regis condo featured elsewhere on this site, which also features lots of wood (but in a different style).
Walked through 925 Fulton this past weekend, a 4200 square foot beautifully restored Victorian…
Didn’t seem particularly busy though…
What’s the difference? What moves quickly and what doesn’t sometimes mystifies me…
The sale of 4356 25th Street closed escrow on 2/19/09 but with an MLS sales price asterisk (i.e., a “confidential” sale). So until we have the tax records, or a plugged-in tipster spills the beans, we can’t report a price.
how does one get a “confidential” sale?
[Editor’s Note: The buyer and seller simply have to agree, but keep in mind we’re only talking about how it’s reported in the MLS.]
Closing price was $2.3M; 11% under the asking price of $2.58M.