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the old buildings in pac heights and nob hill usually have HOA bills in the 1000's/month. what is the main contributor to this, compared to the ~600/month HOA bills in newer south beach buildings? is it because of higher levels of service within the building or simply something that inevitable happens because of increase maintenance costs in old buildings?

In this case, the high hoa is likely the result of 24 hour door person split among 20 units in the building.

@condoshopper: The higher HOA fees you mention are as often as not due to two things. Firstly, as you say, the buildings are often older and as a result need more maintenance and have higher running costs from less efficient equipment. Secondly, the buildings are much smaller than the 400-unit buildings in South Beach so many of the fixed costs have to be amortised across fewer units.

Non of the art appears to be by 'brand' artists, although I saw influences of Francis bacon, Rothko and other established modernist and expressionist artists. Loved the space and views, but the art doesn't hold up (now if this place was in manhattan, better chance of having art befitting the outstanding unit.). Why is it that so few SFers of means step up and really committ to fantastic art? That's the one thing NYC creams SF with hands down is compelling art collectors :-(

Gotta love that last photo in the MLS listing (#21). Its actually two photos but neither tells you anything about the property up for sale here.

But, hey, it does tell you about the stager or owner's taste in art.

That's the one thing NYC creams SF with hands down is compelling art collectors

What about Don Fisher?

In a building like this, does a prospective buyer need to satisfy criteria established by the coop board? I've heard that some coop buildings have a net worth requirement.

The rich are richer in NYC, much richer. The top 2 percent are probably an order of magnitude richer.

In a building like this, does a prospective buyer need to satisfy criteria established by the coop board? I've heard that some coop buildings have a net worth requirement.

From what I've read, on The Upper East Side of Manhattan that's almost a given for any co-op. This listing just kinda implies it.

From pg. 5 of the attached brochure:

The sale of the apartment is subject to approval by the Corporation.

Wow. $3m and a four-burner low BTU range-top and just one sink in the master bath.

Yikes.

The same "enviable" view from can be had at 980 Union for $2200/mo if you don't insist on a sculpture.

we don't have 3Mil (or even 300K) but my folks have a comfy rent controlled apartment near here for a few hundred bucks a month.

"What about Don Fisher?"

Well, with the NIMBYs able to hold off CAMP, we can probably kiss that art collection goodbye. It will be fun to see it when we visit either Chicago or New York.

Deshard,

If you can afford the price, surely you can afford any stove you want or install an extra sink. I am amazed at that socketsiters assess the desirability of properties based on these trivial things.

This building has always been a coop. In 1976, when I was a very young man, a similar unit here was priced at $160,000. Unfortunately, I did not buy it.

Deshard, take another look at the floor plan -- there are two sinks in the master bath, along with a separate shower (incorrectly labeled "closet" in the plan). If you're going to snark, at least be accurate...

@ Tom, you're castigating deshard for being inaccurate when the plan itself is incorrect? LOL. What a dick. I'll take "snarky and sloppy" over "accurate and douchey" on blog's comments section any day.

Fishtarian, where does one look to find this apartment for rent at 980 Union?

Condoshopper. The details on the site describe what's included in the HOA fees including doorman, insurance, reserves and a lot of other expenses not necessarily included in HOA fees listed for other buildings, particularly small ones.

Siv, sorry, I should've mentioned it is now rented. #103 I believe, a small 2/2 owned by a nice elderly couple upstairs. They had a low profile listing on craigslist w/o picture.

@ Conifer

Generally speaking, those that are shopping in this price range expect a property to be close to flawless. And in a market where buyers are few and far between, with plenty of high priced properties available for the taking, it might be something as small as not having a nice stove or a missing sink in the master bath that turns a buyer away.

What I don't understand is why you think the onus is on the buyer to bring a property up to a $3 million standard when we're clearly in a buyer's market.

Is it me or did everyone else wake up on the wrong side of the bed? This is basically a beautifully renovated apartment in an older building. It is done tastefully and with a lot of high-end finishes.

As for art: I would assume the large picture in the living room is by Frank Stella. And if the rest of the art isn't "brand name" perhaps the owners simply bought what they liked without worrying about the name attached.

Staging: I don't think this is staged. The furnishings look consistent with the art and the whole style of the place.

I personally could do without the centaur in the dining room, but everyone is entitled to some equine eccentricity. And is this worth $3M? Who knows? Perhaps someone with a centaur fixation will snap it up.

i like how they never list the square footage.

intrigue!

The brochure says, "double mirrored vanities."

"Relationships are fleeting, bad art lasts forever."

I collect bad art, and challenge anyone in town to displace a worse colection then mine.

Do not know the artists from the photos shown, but definatly not from my collection, too nice.

You never get square footage numbers for Cooperative apartments.

You are buying stock in the building.

K10 wrote--

What I don't understand is why you think the onus is on the buyer to bring a property up to a $3 million standard when we're clearly in a buyer's market.

Buyer's market has nothing to do with it. They are selling a location and a view and a certain amount of interior quality. It is unlikely that a buyer will find an identical property that is more perfect.

If they want any given property, with all of its positive attributes, then a few small matters can be fixed. They can make a lower offer. If they buyers see this as one of many, and they make their decision based on the stove, then it should be their broker who teaches them the basics of residential property purchases: the easily fixable attributes do not matter. The things that cannot be changed count.

There may be stupid people who look for the flawless, as you say. All stoves will be old in ten years. The square footage, the interior architecture, the view, and the location will be preserved.

HOA dues are $1,149.66 per month

Is is safe to assume this coop has been around long enough that it no longer has a master mortgage (didn't see it mentioned under the HOA dues)? Also, bonus points to anyone who can tell me what the 'scavenger' fee noted in the HOAs is (see brochure).

The list price for 1100 Union #300 has been reduced $300,000 (10%), now asking $2,695,000.

Only $1,745,000 more to go, and you will be mine! Oh, well, or if I win Lotto this weekend.

Seems that the HOA dues have increased. MLS has them at $1342.08 per month