While the Candlestick Point condo San Francisco Supervisor Malia Cohen lost to foreclosure remains listed for sale at $314,900 (having been purchased by Cohen for $518,178 in 2006), it’s a plugged-in tipster that calls our attention to two other Candlestick Point resales that are currently in contract.
Both short sales and listed for $199,000 and $199,999 respectively, 301 Crescent Way #3417 was purchased for $419,000 in 2007 while 401 Crescent Way #4103 was purchased for $400,000 that same year.
As we wrote about the Candle Stick Cove development in 2006:
Our first thought upon spying The Cove from 101: “Are they building a prison over there?” And after perusing their website (“Candlestick Point is one of the City’s hottest new neighborhoods,” and “fast becoming one the of the City’s most desirable addresses”), our second thought: “Uh….”
And as plugged-in people might recall, it was in 2008 we first noted a short-sale in the development and in 2009 that we first noted a two-bedroom market rate unit listed for $389,900, $10,000 less than a comparable “Below Market Rate” (BMR) unit, and selling for even less ($374,900).