Okay, so more accurately, ‘twas the night before the night before Christmas and an apple was picked. Purchased for $1,495,000 in October 2007 and “never occupied as a primary residence,” the sale of 1 South Park #402 closed escrow yesterday with a reported contract price of $1,165,000, an apples-to-apples decline in value of 22 percent ($330,000) over the past three years.
And while we didn’t feature it before, and it’s not actually an apple (think new structural beams and the elimination of columns for the enlargement of the garage), a tipster’s noted sale of 19 Delmar does fit our “night before the night” theme.
With a reported sale at $1,660,000, one could call it a 17 percent drop in value ($280,000) for the single-family Haight Ashbury “elegant Stick-Victorian” home since its purchase for $1,940,000 in March 2008, of course that wouldn’t account for the value of those improvements which were estimated to cost (versus be worth) an estimated $55,000 for the purposes of permitting.
A safe and merry Christmas to all, and to all a good night.
∙ One South Park Starts Sprouting Apples (1 South Park #402) [SocketSite]