September 28, 2009
Citadine (1299 Bush): Current Pricing And A Peek Inside
In terms of pricing, currently ranging from $495,000 for a 558 square foot one-bedroom to $1,669,000 for a 1,573 square foot three-bedroom on the eighth ("penthouse") floor.
∙ 1299 Bush Street #201 (2/3) 1,531 sqft - $1,259,000
∙ 1299 Bush Street #203 (2/2) 940 sqft - $795,000
∙ 1299 Bush Street #204 (1/1) 558 sqft - $495,000
∙ 1299 Bush Street #802 (3/2) 1,573 sqft - $1,669,000
We'll call it aggressive pricing, but perhaps not in the way some had hoped.
∙ The "Citadine" Flags Are Flying At 1299 Bush [SocketSite]
∙ Twenty-Six In The Bush At 1299 Rising (And A Reality Check) [SocketSite]
First Published: September 28, 2009 11:45 AM
Comments from "Plugged In" Readers
Looks like cabinets that Dexter would love to have ;)
Posted by: Chad at September 28, 2009 11:58 AM
Worst. Work Triangles. Ever. Those kitchens are a triumph of form over function.
Really...couldn't they have sprung for some walls (or at least an island or a bar) in the kitchens?
Is that electric heat in the bedroom?
Posted by: SausalitoRes at September 28, 2009 12:34 PM
Went there this weekend. A couple of the townhouse units on the second floor were really nice (and really overpriced), with HUGE terraces, etc. But overall the finishes were probably the worst I've ever seen in a new building. They looked like they'd fall apart in a month. And some of the designs (olive green kitchens with silver paisley backsplashes, for example) were so bad my eyes hurt.
Posted by: Mikey at September 28, 2009 12:51 PM
I know the area well and I would ask the agents for comps as these prices are off the charts high for the offering, finishes, amenities, location and view corridors. I would pay no more than $450-$550 PSF for this product type. Perhaps they will find some suckers but the pricing is so high it does not even warrant negotiation at this point.
Posted by: RIPOFF at September 28, 2009 1:03 PM
Posters above obviously did not go to the web site and click on the "My Investment" button. All is revealed there about the confluence of circumstances and timing that make the Citadine the perfect place to buy now.
And yes, those do appear to be electric heaters. I can't believe this project has been in the system for so long that it was under the old Title 24 code, which still allowed them. Certainly a contributing factor to the perceived, and justified, impression of gross overpricing.
Posted by: OneEyedMan at September 28, 2009 1:18 PM
I got this nasty infection once and had to take Citadine for two weeks to clear it up.
You can get very, very nice places in great neighborhoods for the pricing on the 1500sf units. You'd have to be nuts to pay that for these units in this neighborhood (the TenderNob?)
Posted by: Trip at September 28, 2009 1:23 PM
@oneeyedman What heating technology is required by current code? I have those cheesy in-wall resistance heaters in my place and absolutely loathe them.
But I must say, I'm a little intrigued by the deliberate "anti-kitchen" approach. It would be a little inconvenient for massive cooking projects but it opens up some interesting design options. Congrats to these folks for trying something different.
Agree with the other comments, prices are laughable in the current market.
Posted by: sunnyvalesteve at September 28, 2009 2:33 PM
Electric resistance (most all in-wall and baseboard style) heaters could not meet the higher efficiency standards. Even in the temperate climate of SF it can cost a small fortune to heat this way.
Posted by: OneEyedMan at September 28, 2009 2:55 PM
$1.5M for a 3bd in the tenderloin.? NO THANKS
Posted by: spencer at September 28, 2009 2:57 PM
Ah, memories. It's been awhile since we've heard from spencer about the ever-expanding borders of the Tenderloin...
Posted by: anon at September 28, 2009 3:30 PM
If you're taking Citidine and experience an erection lasting more than 4 hours, please call your Realtor immediately
Posted by: OneEyedMan at September 28, 2009 4:31 PM
Citadine, what does it mean??
Posted by: Snark17 at September 28, 2009 4:36 PM
2 years too late.
Posted by: PPC at September 28, 2009 4:36 PM
Delivery Guy: Hey, whatta ya want me to do with these expensive appliances.
Contractor: Just put em over in the corner of the Living Room and we'll figure it out later.
Posted by: OneEyedMan at September 28, 2009 5:16 PM
Prices will drop in 4,3,2,1... AMAZING PRICE REDUCTIONS - CAN'T MISS SALES EVENT - 1 DAY ONLY - you get the drift....
Posted by: IrishBobby at September 28, 2009 6:47 PM
^ First they'll have a couple of fake "sales" at the asking price so that people will think the "amazing price reductions" are a "deal".
Posted by: tipster at September 28, 2009 7:38 PM
Well, they might as well start somewhere. I agree though, the neighborhood is tad too grungy for my tastes to get those prices.
Posted by: Commuter at September 28, 2009 7:41 PM
I love the kitchens. I like to cook but don't want too much space wasted on the kitchen, ie an island. I'd rather walk a bit further and have some extra room in the living areas.
That said, I don't think they will get these prices.
Posted by: CameronRex at September 28, 2009 9:45 PM
$800 sqft in the Tenderloin seems fair to me!
Posted by: NewBuyer at September 29, 2009 7:46 AM
I love that they tout the "pundits and economists" opinion that the market has bottomed out and that prices are on the rise (see the "Your Investment" link)
It was think kind of crack-smoking that got us into this mess in the first place. I wonder what kind of appraisals will come in now that the banks (and not the realtors) assign the appraiser.
Posted by: Rocco at September 29, 2009 1:21 PM
This offering is a dog. In a dog neighborhood. With fleas. At those prices, virtually any other offering is a deal compared to this.
Hey developer, welcome to 2009. Go peddle this crap somewhere else.
Posted by: John at September 29, 2009 10:48 PM
This condo is in a great neighborhood...for me to poop on! But seriously, even I have standards -- too much poop on the street already. Citadine sounds like the medication you will have to take after getting a disease from the folks in the Tenderloin on your way here.
Posted by: Triumph at September 30, 2009 8:49 AM
The heating elements are not electric resistance. They are highly efficient (75% more efficient) individual Hydronic heating systems.
Posted by: ShamrockRep at October 3, 2009 12:10 PM
Shamrock Inc of vincentown, NJ?
Please provide a link to the datasheet for this product.
Posted by: diemos at October 3, 2009 12:54 PM
Whatever happened to this place?
Posted by: SFRE at April 23, 2010 6:27 PM