Asking $750,900 when the building was 89 percent sold in January 2007, 235 Berry #304 sold for a reported $751,000 that March ($702 per square foot).
Returned to the market (mis)priced at $849,000 this past May, perhaps based on market (mis)expectations, the asking price for the two-bedroom was reduced to $829,000 in June and then to $675,000 as a short sale in August.
In contract and then relisted twice since last September, on Tuesday the list price for the 1,070 square foot “spacious corner residence” was reduced to $599,000, 20 percent under its 2007 sale and $560 per square, a value which shouldn’t catch any plugged-in buyers or sellers by surprise.
∙ Listing: 235 Berry #304 (2/2) 1,070 sqft – “$599,000” (short sale) [MLS]
∙ 235 Berry Street Update: At Most 89% Sold (And Moving On In) [SocketSite]
∙ An Under $600 Per Square Foot Two-Bedroom Comp At 235 Berry [SocketSite]
I toured this building when it was new and actually liked it. It has no real amenities but it’s in a reasonable location. HOAs are manageable too. Overall $599,000 is not too bad for a smallish cookie cutter 2 Bedroom / 2 Bath. However I can see a further fall in prices for SOMA condos so if you’re looking you can wait this out or put in a under asking offer.
It’s a short sale – list price means nothing. They might as well lower it.
SBC Park hasn’t been SBC Park since 2006.
may be a better rent vs. buy compared to the 1/1 short sale we discussed here the other day.
http://sfbay.craigslist.org/search/apa/sfc?query=235+berry&srchType=A&minAsk=&maxAsk=&bedrooms=
Those places on that street rent for right around $3 psft per month. The ones facing the creek go for a little more, the others go for a little less.
The asking rent on the unit in the link is off the charts. It has been listed for more than a month.
That building had a couple of break ins last year. I heard the last one had the owner come home to find the burgler inside.
Is burglary in condo buildings common? I imagine it’s probably much easier burglarizing a house. With condos, you have to get pass the front desk and then there’s always the threat of someone on the same floor walking by while you try to pick the lock. And in case you need to escape quickly due to unforseen event, the option of darting out the window and out the backyard is not available.
These condos are in a quiet area along a park only blocks from the chaos and squalor that is South of Market. As far as people seeing and calling the cops, it is amazing what people will fail to notice or simply shrug off. Being security conscious means staying away from anything that can be easily scoped and reached from outside, so it depends on how much one values convenience and indoor/outdoor living.
“With condos, you have to get pass the front desk and then there’s always the threat of someone on the same floor walking by while you try to pick the lock.”
Pobeb: Unless something changed there’s no doorman in this building so I guess it would be considered less secure. Also, I’d take Tipster’s speculation with a grain of salt.
I know a friend renting a place on the street. Rents depend on the # of bedrooms more than sqft. My friend rents for 2.5*sqft for creek facing. 2 B/B around 1200 sqft may fetch around 3100-3300 max with parking.
I’m guessing that if they burgle a condo, it will be through a window or private door of a ground floor unit, not facing the street.
Chaos and squalor?? Mole Man, will you be channeling Spencer for 2011?
I went and looked at this unit and the listing agent made it clear that the buyer will need an additional approximately $50k in cash at closing to clear liens by the HOA and PMI company. Seeing as how there’s a 2/2 comp (albeit slightly smaller) in the building listed at $680k, (#613) it’s such a messy short sale that it’s still no bargain at $599k.