The sale of 2207 Scott Street closed escrow yesterday with a reported contract price of $3,310,000. As we first wrote about the property last October:
Purchased for $3,425,000 in May 2006 with what would appear to have been “Google money,” in 2008 the rear foundation at 2207 Scott Street was replaced, a three-quarter bath added, and a bit of garage space reclaimed for living.
At a permit estimated cost of $200,000, let’s call it $3,625,000+ invested in the property.
Back on the market today and listed for $3,600,000, a sale at asking would appear as “appreciation” of 5% over the past four years in MLS based reports, newsletters and statistics but wouldn’t exactly be so.
Closing the day at $543.30, shares of Google are up 47% over the same timeframe.
Relisted for $3,450,000 in January, the property was in and out of contract in February and then reduced to $3,300,000 in March for an “over asking” sale according to industry stats.
Google is currently trading at $536.58 per share.
∙ 2207 Scott Versus The Underlying Shares [SocketSite]
∙ Google Salaries And Shares Up While 2207 Scott Street Returns Down [SocketSite]