As we wrote two months ago about the Nob Hill condo with the view above:
Listed for $899,000 two years ago, 10 Miller Place #901 closed escrow two weeks later with a reported contract price of $975,000. Today, the two-bedroom condo with big cityscape views is back on the market and asking $899,000 once again.
The re-sale of 10 Miller Place #901 closed escrow today with a reported contract price of $850,000. That’s 5 percent under asking but 13 percent under its 2008 price.
Meanwhile, 10 Miller Place #902 which was a one-bedroom but has “been reconfigured into an open floorplan,” remains on the market after 200 days asking $595,000.
∙ Listing: 10 Miller Place #902 (0/1) – $595,000 [MLS]
∙ We’ve Seen This Movie Before, But Will It Have A Different Ending? [SocketSite]
∙ Forget One Night Of Fireworks, We Like Twinkling Lights Year Round [SocketSite]
expensive chair parade!!
I love the units in this building. Floor to ceiling windows and fabulous balconies and views. However — making this unit into a studio from a one bedroom was obviously not a good move.
Man, if this was $400 / sqft I’d totally snap it up. Put in a Murphy Bed and voi la! The perfectly sized home for me.
Sigh. It’ll take another few years of 10% unemployment to get to that price point tho.
In the meantime tho, they really should put in the Murphy Bed and restage it so people can see what it could be. With that change, I think the move from a 1BR to a studio could be a win for them. It’s strange to me they didn’t take this remodel to its logical conclusion.
With that change, I think the move from a 1BR to a studio could be a win for them.
It might make the 1br to studio less of a bad idea, but not sure it would be a win. studios are the definition of entry level living. hard to gussy that up any other way. you severely restrict your buyer pool by doing this.
the rest of the unit is also quite entry level. Kitchen looks cheap. cheap looking beige carpet. cheap looking kitchen tile. typical lack of room for a dining table (which is surprising given that it’s 600 sq ft and a studio.)
the views are absolutely wonderful.
this is a very entry level unit with a great view.
HOAs are $835/mo. That’s what the mortgage should be.
I don’t think the kitchen looks cheap, but is poorly planned. There is almost no counter space and the tile floor is practically non existent. The separate bar table and chairs don’t really add much in terms of usability. Whoever buys this place will probably need to do some reconfiguring if they want a private bedroom and/or space to cook. And at $595K, that is too much of an initial investment.
Perfect for the bachelor whose brahs will come over for Miller Time.
Did they use permits to convert this to a studio? The only permit I see is from 2001 that says “REPLACE KITCHEN CABINETS/REPLACE BATHROOM TILE. REMOVE NON BEARING PARTITION 1/2 HEIGHT,” and it was never closed.
You’re clearly looking for a different audience for a studio vs. a 1BR, and I can’t help but think the change reduced the marketability of this place, but maybe the space was configured badly.
High HOAs for a studio. No way it sells at $1000/sf (if it is actually 600sf).
Total cost of owning is close to 4.5K+ without special assessments. Buying at asking is purely speculative and a high risk. You’d be paying 2X rent value easily while assuming homeowner risk!
As always, this will be an emotional buy. I say it sells for $750/sf or 450K, and that’s because there’s parking.
I think that is a window in the tub/shower that overlooks the bed….very limited appeal. There are some cool aspects (kitchen would be fine for me)and the view is incredible. But very customized which can be a difficult sell.
If you look at photos 2 and 3, you can see that the rightmost window (the living room window) in photo 2 was stretched to twice the actual width. The windows are actually very small. That’s why they opened it, to give it a more spacious feel. Otherwise, it would just be a narrow living room with a fairly small window.
In photo 6, they stretched the right side of the window in front of the bed, so even that photo doesn’t give you an accurate idea of how small the windows are. The only place the window photos weren’t altered is the window on the left in the photo above (on the socketsite page, which is photo 2 in the listing). I assume the window on the right is about the same size as that one.
Not very impressive.
The pictures don’t show a wonderful closet (including pull out mirror) that turns into a private dressing area, and a wall bookcase complete with library ladder.
The space has been cleverly configured in terms of functions which is quite magical when you think of the feel of a whole space conceptually for each function. When you are in the kitchen, you feel the whole space is your kitchen, complete with view. Same as when you are in each area, sleeping, socializing, etc. Complete with window, the bathroom has the view, too, so you never feel blocked off or tucked away in a small space. Maybe you have to see it to believe it. When you see it, you get the feel.
“you think of the feel of a whole space conceptually for each function”
Of course, you could also buy a real 1BR condo and ACTUALLY have a whole space for each function instead of stinking up your nice down comforter with kitchen smells because of a crappy design (although I don’t expect people who live here to cook beyond warming up a frozen pizza while working off the drunken stupor). The market for this place isn’t huge in this economy.
The list price for 10 Miller Place #902 has been reduced $50,000 (8%). Now asking $549,000.
The sale of 10 Miller Place #902 has closed escrow with a reported contract price of $500,000 (16% under original asking).
Odd history on this listing:
Jan 31, 2011 Sold (MLS) (Sold) $500,000
Jan 14, 2011 Pending (Contingent)
Jan 14, 2011 Relisted (Active)
Dec 14, 2010 Pending (Contingent)
Was the same person was under contract both times? This place was on the market continuously since February 25, 2010, but the statistics will not say that.