August 27, 2010

A Castle Perch From Which To Ponder San Francisco (And DOM Stats)

41%20Castle%20Deck.jpg

Having been rebuilt in 1999, the single-family home at 41 Castle returned to the market listed for $3,950,000 in June 2007. Relisted that September, its list price was subsequently reduced to $3,695,000 before being withdrawn from the market two months later.

41 Castle reappeared on the MLS this past January asking $3,350,000. In April its list price was reduced to $2,995,000. And in June it was reduced to $2,750,000 before being withdrawn from the MLS in July.

Today, 41 Castle was listed anew for the fourth time. Once again asking $2,750,000, but now staged. And of course, it’s "one day" on the market according to industry DOM stats.

∙ Listings: 41 Castle (4/4.5) 3,170 sqft - $2,750,000 [ninahatvany.com] [MLS]

First Published: August 27, 2010 1:15 PM

Comments from "Plugged In" Readers

Located on a CHARMING (narrow back) alley steps from Coit Tower, this four-bedroom, four and one-half bath home has an UNASSUMING (plain) façade framed by a beautiful tree. The airy, high-ceilinged entry leads directly up to the Main Level, with its great room opening out onto a deck and dramatic views of Washington Square, Nob Hill, Coit Tower, the Bay and the Golden Gate Bridge. The open-plan kitchen has white cabinetry, with great storage inserts, and DARK granite countertops. The sink is under a bank of windows that overlooks the lane and feels very PRIVATE NESTLED (crowded) in the trees. There is a second prep sink, a large professional Thermador stainless steel range with six burners and a grill, oven and warming oven, a Miele dishwasher and a trash compactor. The adjacent dining area has a built-in granite countertop and additional storage. The living room area is sunken so as to create additional dramatic ceiling height and the room has built-in shelving flanking a gas fireplace. A powder room with a curved counter top COMPLETES this level.

Posted by: Conifer at August 27, 2010 1:30 PM

the house looks nice and seems to show well.
a bit too much white, but that is very easily remedied and better than trying to paint over dark walls.

the staging gives those who need it good perspective without dominating the house, which is a nice change (even though there is some aquaturd in there!)

I love the stairway window that frames the top of coit tower... well done. well thought out.

Don't love the stairway itself, or the choice of hardware on the doors (shiny bronze/gold?) but those are very easy fixes.

I also wouldn't mind relisting this as DOM #1 back in January, since it had been off the market for a while.
but the relisting now as DOM#1 is of course misleading since it was also on the market in July. DOM games.

does this have a yard?

Posted by: ex SF-er at August 27, 2010 3:08 PM

Stacked washer/dryer in the bathroom, in a 2 mil+ listing. lol.

Posted by: brandno at August 27, 2010 6:52 PM

"Stacked washer/dryer in the bathroom, in a 2 mil+ listing. lol."

someone must not have been to Europe yet.

Posted by: geoff at August 27, 2010 11:01 PM

"someone must not have been to Europe yet."

And your point is? Does that mean that CUBIX units should charge Tokyo prices since they are as tiny as a unit in central Tokyo? "Someone must not have been to Tokyo yet". Give me a city with the underground transit infrastructure of a European city, along with the architecture, safety, clean safe streets, and I will be ready to have a stacked washer/dryer in my bathroom.

Posted by: Sigh at August 28, 2010 12:06 AM

I just want to say that I love the website. All photos are easily viewed without clicking on each one, waiting for a slideshow, or scrolling through thumbnails. Why can't more realtors do this?

Posted by: bgelldawg at August 29, 2010 9:36 AM

41 Castle has once again retuned to the MLS at $2,750,000. And yes, with an official "1" day on the market.

Posted by: SocketSite at January 14, 2011 12:11 PM

You can now rent 41 Castle for $13,950 on Craigslist; MLS still has it as Act.Cont.

Posted by: nia at February 17, 2011 5:16 AM

30% less in expectations and a wish rent on CL. It's undeserved because I love the location and I think today's price 3 years ago would have attracted multiple bids. The views are fantastic, pretty much the best asset of this kick-a$$ location. And there's parking, a very rare commodity on TH. You can't avoid having to use the stairs all the time, which excludes many retirees, and the 3 times I visited I had a feeling of a vertical place.

Somewhat related, the TICs at Varennes 100 feet away are still not selling in the 400 and 500s after several reductions. Not the same product but they would have sold in a month in 2007. Entry level in a great area sold almost at any $/sf at the time.

Posted by: lol at February 17, 2011 7:54 AM

Sold for $2.5M. Wow, nice place, good views, 2 car parking and good location for a very reasonable price for such a property.

Could have gotten 3.2 easily if they started at that point.

http://www.redfin.com/CA/San-Francisco/41-Castle-St-94133/home/1968124

Posted by: tipster at March 9, 2011 10:03 AM

Given the cost of building in the cramped lot, and the time it was done during the bubble when contractors were even more larcenous than usual, I wonder how much the seller lost.

Posted by: conifer at March 9, 2011 12:28 PM

If I had that kind of money I would have bought that house. Very nice in every respect (without inspection, of course)

Posted by: halpern at March 9, 2011 1:20 PM

Wow - what seems to be utterly missed by every person posting is the dramatic drop in the price from nearly $4million dollars to $2.75 million dollars. And, we think the walls are too white? We're worried about a stacked washer/dryer in one of the bathrooms? We're saying we like the window in the stairwell but not the stairs? This is an economic meltdown of epic proportion, where trillions upon trillions of dollars has evaporated, and the RE community in SF is in total la-la land....

Posted by: vinny at March 13, 2011 2:01 PM

Calm down, vinny.

It was never worth $4 million.

That was the price the owner would have liked so he could send his kids to Yale, or Harvard or Duke or Stanford.

This is an overdeveloped small lot on an alley, albeit near the top of Telegraph Hill with a great view. They squeezed as much as possible into this space, even an elevator-garage. It is white because white looks bigger and focuses away from the interior to the views. Some houses have unfixable problems, and one of the most unfixable of all is size of lot.

But they got what it was worth in this market, perhaps more.

Posted by: conifer at March 13, 2011 3:32 PM

whew...conifer.....thanks 4 the cool down...i guess u r right....wow, what a drop in price, though, right???

Posted by: vinny at March 13, 2011 4:37 PM

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