October 29, 2009
Three Years Later And A Thirteen Percent Drop At 1635 California
Unable to sell out in 2006, a number of 1635 California’s 36 condos quietly headed to the rental market. As we wrote that February:
1635 California opened its doors over three months ago and at least 7 of the units are still on the market (with more yet to be “released”). And although we were not able to secure a full pricing sheet (the agents staffing the open house seemed downright defensive when asked), nor any property statements (none were made available), we’ve still got some numbers for our readers…
One of those numbers was for 1635 California #63, listed for $835,000 at the time. It's back on the market with Vanguard again but now asking $729,000 (a drop of 13%).
As some might recall, we featured the apples to apples sale of 1635 California #33 last year, purchased for ~$780,000 in 2006 and re-sold for $740,000 in 2008 (a drop of 5%).
∙ Listing: 1635 California Street #63 (2/2) - $729,000 [MLS]
∙ 1635 California Street [SocketSite]
∙ Another Apple Speaks On The Edge Of Nob Hill (1635 California #33) [SocketSite]
First Published: October 29, 2009 8:30 AM
Comments from "Plugged In" Readers
Drop of only 8% from early 2008 sounds too low (even factoring in that it's only a higher floor). I'd expect it to go for under asking...but I suppose with the expiring tax credit you never know.
I wouldn't mind this place for around $500k. But it won't go for that low...at least not yet.
Posted by: anon at October 29, 2009 8:55 AM
Have fun with the constant ding-ding-ding-ding-ding-ding-ding-ding-ding-dinging from the cable car. I swear those Muni operators do it just to piss off those of us who live in the neighborhood. A few times I've got on the cable car just to tell them to STFU.
What good is owning a place in SF where you can't open your windows?
Posted by: scurvy at October 29, 2009 9:26 AM
What good is owning a place in SF where you can't open your windows?
actually, a lot of "luxury" abodes have windows that either don't open or minimally open. (like ORH as example)
besides, it's foggy anyways. (joking).
overall this place seems spacious enough with an ok layout. I hate the kitchen cabinets, but the work triangle is very functional.
it could look great with just a little bit of paint.
Posted by: ex SF-er at October 29, 2009 10:39 AM
and you get to look out the window at 1630 California; a much nicer looking building. too bad its rental only...
Posted by: jose at October 29, 2009 11:01 AM
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