1022 Powell Street

As we wrote about 1022 Powell Street (behind the vines) in April of 2006:

1022 Powell Street #3: Living

As you know, it’s not often that we agree with listing hyperbole. And although we’ve only seen pictures (so far), we just might have to agree with the “One of a Kind Loft in Nob Hill!” claim for 1022 Powell St. #3.

Then again, we’re suckers for vines, brick, open floor plans, high ceilings, natural light, fireplaces, parking, and decks with a view…

1022 Powell #3: Loft

Sold for asking ($1,625,000) shortly thereafter, it’s back on the market and listed for $1,395,000 today, a sale at which would represent a 15% drop below its June 2006 value.

∙ Listing: 1022 Powell Street #3 (2/2) – $1,395,000 [MLS]

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Comments from “Plugged-In” Readers

  1. Posted by tipster

    Dropped back down to a “mere” $1000 psft.

  2. Posted by stucco-sux

    It sure is a nifty pad in a nifty location though — and HOA fees are uncharacteristically low.

  3. Posted by max

    Cool digs.

  4. Posted by EH

    is this a datapoint for low HOAs pulling a premium price?

  5. Posted by New Kid on the Block

    Are the old comments deleted, or are there really no comments on the original 2006 socketsite post?

  6. Posted by Conifer

    What is this like when it rains for four months in the winter? The views are still good, but the atmosphere will be anything but cozy.
    What does this much natural light do to pictures on the wall? Certainly no works on paper can be hung, but even oil paintings will not do well.
    And what did they take out of this old building to create this space? Whoever did this should keep their mitts off the Bourn Mansion.

  7. Posted by Ev3

    Ugh, why does socket site always say they are “suckers” for parking? It’s so anti-urban…especially downtown.

  8. Posted by ex SF-er

    What is this like when it rains for four months in the winter? The views are still good, but the atmosphere will be anything but cozy.
    actually, my master bedroom/bath is somewhat like this but not quite as big and not as many windows… but very open and bright like this. we love sitting up there with a good book on rainy days hearing the rain pitter-patter on the skylights.
    it’s even pretty cloudy in the pic above and you can see that it still has an open bright feeling.

  9. Posted by stylewylde

    Usually I am jaded when it comes to these ‘dream condo’ posts, as I am a fan of yards, fresh air etc.. but this one made my heart do flip flops, very very pretty, now if only I had the funds for the 20% down and the 300 a month hoa….

  10. Posted by bornnraised

    My grandparents use to live a few blocks away so I would pass by this place everyday after school. Never thought the inside would be this nice.

  11. Posted by sunnyvalesteve

    This is a walkup, if I’m not mistaken? Perhaps that’s what makes it “New York.” Otherwise it’s a terrific place and I’d love to live there. The seemingly low HOA is a red herring. There are only 3 units, so they probably just have assessments when there are big expenses, instead of budgeting for them up front. As many others have commented previously, you can’t escape the cost of maintaining a building well. You can pay now, in the form of higher HOA, or later in the form of case-by-case assessments.

  12. Posted by amused

    A list of things I’ve always thought were good, but have now learned are actually bad:
    1. Light
    2. Low HOAs
    3. Views
    4. Parking (arguable)
    If you live on Nob Hill and can’t handle two flights of stairs, you’ve got issues. A walkup in NYC usually puts you on the sixth floor, via a stairway that’s not air-conditioned.

  13. Posted by pobeb

    ~amused, why is light, low HOAs, views and parking bad?

  14. Posted by amused

    Ask Conifer and Ev3.
    I think they’re great.

  15. Posted by mac

    “What is this like when it rains for four months in the winter? The views are still good, but the atmosphere will be anything but cozy.
    What does this much natural light do to pictures on the wall? Certainly no works on paper can be hung, but even oil paintings will not do well.
    And what did they take out of this old building to create this space? Whoever did this should keep their mitts off the Bourn Mansion.”
    Amazing. The people that say that “someone will bitch about something” on this site are right.
    [Editor’s Note: Wait a second, you mean not all members of a rather large audience share the same opinions and priorities? How dare them!]

  16. Posted by JAB

    saw this today. smelt like roach spray and needs work. Bedrooms are tiny and very dark. Couldnt wait to get out of the building. 1.395 is asking alot for this place… I predict it wont sell for more the 1.25

  17. Posted by Ev3

    I think great views, low HOAs, and great light are amazing – and this is an amazing space.
    Being from New York, it’s painful to see “the second densest city in the country” focus so much on driving and parking (car culture in general). There is nothing New York about this apartment, especially a “walk-up” with parking. It’s one thing to have parking spots in the Sunset (the “county of SF”), but it’s quite another to place a parking spot (at least) for a single dwelling downtown. It’s unheard of in most cities.

  18. Posted by soundOFsilence

    We did an outside tour of this place on Saturday. This place is in Chinatown, not Nob Hill. Yes, it’s only 1 block from feeling like living in NH, but still no cigar. Spoke with the fellow living at #1. Nice guy. Parking is off an alley behind the bldg, and looks quite ghetto. The sidewalk in front has metered parking. Not good…

  19. Posted by SocketSite

    The list price for 1022 Powell Street #3 has been reduced to $1,325,000. A sale at asking would now represent an 18.5% drop below its 2006 value ($1,625,000).

  20. Posted by down again

    down to 1,295M

  21. Posted by SocketSite

    As noted above, the list price for 1022 Powell Street #3 has been reduced to $1,295,000. A sale at asking would now represent an “apples to apples” 20.3% drop below its 2006 value ($1,625,000).

  22. Posted by SocketSite

    The listing for 1022 Powell Street #3 was withdrawn from the MLS without a sale.

  23. Posted by update

    This place just came back on the market again. Though with a tenant still in there for a while.

  24. Posted by tipster

    Foreclosed, then sold: for a stunning $436,000 under its 2006 price, off about 27%. Nearly half a million dollar loss with costs. Wow!
    Now you see why banks want 30% down. The next loss will be all yours.

  25. Posted by anon

    Nothing better than seeing another almost 30% off sale! Made my day.

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