As a plugged-in tipster let us know last night, the sale of 54 South Park has closed escrow with a reported contract price of $3,375,000. As far as we know that’s a new high on a dollar per square foot basis for South Park (over $1,000 per square foot). But in and of itself that’s not proof the “the market” is up.
It’s what we’ll call real estate alpha versus beta (the financial Greeks for those who are unfamiliar), and to a certain extant “mix” (i.e., a new product that really never before existed in the neighborhood – high-end modern – and is relatively rare in San Francisco).
No word on number 56.
∙ 54-58 South Park: The Inside Scoop (Both Literally And Figuratively) [SocketSite]
∙ From A Peek To A Poke For 54 And 56 South Park [SocketSite]