October 2, 2009
We Have A 310 Townsend (#303) In Progress
Originally asking $957,000 through the sales office in 2007, 310 Townsend #303 ended up selling for $850,000 in November of that year (a discount of 11.2%). Back on the market today after a two year hold and asking $785,000 (7.6% below it purchase price, 18% under the developer’s original list).
Let’s call it an effective rent of around $4,000 per month for the one-bedroom plus den condo over the past two years not accounting for transaction costs or any capital loss (assuming a sale at asking). Call it closer to $9,200 per month if you do.
∙ Listing: 310 Townsend #303 (1/1) 1,136 sqft - $785,000 [MLS]
∙ 310 Townsend: Available And Selling [SocketSite]
First Published: October 2, 2009 7:00 AM
Comments from "Plugged In" Readers
Very interesting. And good to see he lives on via tips. ;)
Posted by: eddy at October 2, 2009 7:11 AM
Just in time for a Thanksgiving close: an oven in which you can cook 3 turkeys side by side!
Posted by: tipster at October 2, 2009 7:11 AM
I really dig the style of the building but this is way too much! Plus the HOA fees make no sense for 0 amenities!
I'll try to remember to stop by the open house for S's and G's though.
Posted by: J at October 2, 2009 8:06 AM
Wow, that place is really tacky.
Posted by: jimbobjones at October 2, 2009 8:50 AM
wish i could find last year's thread where SS-ers blasted me for saying there was a glut of soma condos.
Posted by: resp at October 2, 2009 8:58 AM
resp, it could be this one (searched for "resp glut"):
I will leave it to interpretation as to whether you got "blasted" though. Both Brutus and spencer said that there would be no glut if prices were lower. :)
Posted by: corntrollio at October 2, 2009 9:18 AM
Geez, look at the stretching on that microwave and oven. Ridiculous. That practice should really be outlawed in real estate photos. So annoying.
Posted by: noseeum at October 2, 2009 7:56 PM
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