767 Bryant
In August of 2006 twenty apartments at 767 Bryant hit the market as condos. At the time list prices ranged from $676,920 to $1,850,000 including 767 Bryant #409 at $676,920 and 767 Bryant #210 at $1,200,000.
Despite a subsequent remodeling, reductions and incentives (including a free Prius or Mini Cooper), at least six of the units failed to sell and were lost to foreclosure.
On Friday 767 Bryant #409 returned to the market as a bank owned property (REO) asking $525,000 (23% less than in 2006) and 767 Bryant #210 returned to the market as an REO property asking $799,000 (33% less than in 2006).
∙ Listing: 767 Bryant #409 (1/2) 908 sqft – $525,000 [MLS]
∙ Listing: 767 Bryant #210 (2/3) 2,041 sqft – $799,000 [MLS]
767 Bryant: The Apartments Condominiums [SocketSite]
Buy A Condo Get A Car At 767 Bryant [SocketSite]

18 thoughts on “Thirty Percent Of 767 Bryant Returns As REO (But Not Speedwagon)”
  1. Heard it from a friend who
    Heard it from a friend who
    Heard it from another you been taken back by the bank
    …sorry, couldn’t resist.

  2. Does anyone know if all 20 units were sold as condos (did any stay as developer owned rentals)?

  3. So much for Ridin’ the Storm Out! You know, I just Can’t Fight This Feeling anymore but these condos were a terrible idea. $1,200,000 for a 2/3 next to the criminal courthouse? In My Dreams! You can’t blame the developer too much though, as they certainly tried to Roll With the Changes and Keep Pushin’ these units. Buy a condo get a car? Talk about I Don’t Want to Lose You! My advice to the residents of 767 — get in your free Prius and Take It on the Run, baby!
    Time for Me to Fly,
    Stu

  4. Looking at these units back when they first came on the market I got the impression that this was the worst design and the worst build quality that I have seen in any loft condo, and that is saying a lot. The money obviously did not go to starchitect fees or high quality finishes or on demand water heaters for each unit, so where did all the money go? Land costs?
    The location may not be the best, but it is not bad for South of Market and is walking distance to many things. However good it may be for development to be encouraged, this miserable structure serves best as a dire warning.

  5. “Crummy poorly located & overpriced building plunges in value” news at 10 …
    $800k ain’t exactly giving the place away. That’s still $400 psf.

  6. I considered buying there in 2007 because they seemed to be the most reasonably priced lofts available. But the area, the building, and the unit itself were all very unimpressive. So glad I just looked.
    & Stu is winning for best comment.

  7. That area is terrible. Apologies to anyone who did buy around there, but I had to walk through there recently for jury duty and can say it ain’t getting any better. SOMA still feels a little bit like a scene from escape from NY. They just haven’t put up the razor wire yet.

  8. Wasn’t this building tied-up in litigation for a while — and didn’t that impact potential sales during that time period? Terrible location if you own a dog.

  9. We looked at these last year and weren’t impressed, the location sucks, the constant sound of the highway doesn’t help either.

  10. i used to rent a top-floor unit from an owner who went into foreclosure, declared bankruptcy, and absconded with my sizable deposit. which sucked… but at least i didn’t own the place. that building has the worst construction quality i’ve ever seen.

  11. While not listed above, the short sale of 767 Bryant #205 closed escrow yesterday with a reported contract price of $595,000 (listed at $699,000). That’s $374 per square foot and 36% under its sale price of $933,000 in April of 2007.

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