April 29, 2011
If You Weren’t The Winning Bidder For 2739 Larkin Six Months Ago...
Listed for $1,995,000 last October, 13 days later the sale of 2739 Larkin closed escrow with a reported contract price of $2,650,000. Yes, 33 percent over asking.
It’s now six months later, and while it’s been making the rounds quietly for at least a few weeks, yesterday 2739 Larkin was officially listed for $2,695,000.
While not noted on the MLS once again, tax records report it's 2,596 square feet. We’ll let you set the odds on a repeat performance with respect to price.
∙ Listing: 2739 Larkin (3/2.75) - $2,695,000 [MLS]
∙ A Look Inside 2739 Larkin And The Russian Hill Contemporary Market [SocketSite]
First Published: April 29, 2011 7:00 AM
Comments from "Plugged In" Readers
The famous, "I want to be able to claim I made a profit even though I'm going to lose a bundle on transaction costs" price.
Soon to be followed by the, "This is a little more than what I owe" price.
Soon to be followed by the, "I wonder if the bank will accept this as a short sale" price.
Posted by: diemos at April 29, 2011 7:03 AM
Its a rather cool place but its only the small top floor with the kitchen that has any kind of view, everything else is "under ground" is that really worth 2.7M? I guess you could get a better place with a better overall view for that amount of money?
Posted by: Mike at April 29, 2011 7:45 AM
I agree with Mike. I went to see this place wanting to love it-- and that view is amazing. But it's on a very small footprint- that beautiful top floor is a lot smaller than it looks in the photos. And from there, it is all basically underground with a few frosted windows because you would not want clear ones. Not a lot of usable space-- I don't know what the true square footage is but think they removed a lot of square footage making it that tall loft like space. The garage is on a slope with a sloped garage door-- not sure if it would fit SUV's.
But, it's a unique place and it's tough to price unique places.
Posted by: nanon at April 29, 2011 10:31 AM
"An ambience of souring space" indeed. It's going to be a sour investment memory for the seller. Any bets on it returning to the old $2 mil price?
Posted by: justme at April 29, 2011 11:07 AM
I just can't comprehend these 6 month holds/flips. What are people thinking?
Posted by: TripleB at April 29, 2011 1:55 PM
The October 27, 2010 purchase was to an entitiy called Hayden Properties LLC. No Deed of Trust on the Recorder's site.
BTW, it's worth your while (95% sure) if you can figure out who the owner was previous to the October Deed transfer. Briefly transported me to 1977... okay, I'm back.
[Editor's Note: And may the Force be with you.]
Posted by: EBGuy at April 29, 2011 3:00 PM
i'd love to have been a fly on the wall to know who came in 2nd last year and at what price. and it was even remotely close to $2.65M i'd be listing this at $1.99 trying to induce a similar bidding war
Posted by: hangemhi at April 29, 2011 3:30 PM
The Force is strong in this one. It might take the Jedi Mind Trick to get $2.65M again.
Posted by: sfrenegade at April 29, 2011 4:21 PM
Very interesting post....i was wondering the same thing. Was the 2.65 transaction really arms length, or a clever way to reset the price??
Posted by: Art at April 29, 2011 5:49 PM
Huh? 2.695 (original asking price) -.196 (reduction)=2.499, not 2.699.
So I assume this was listed for 2.895, not 2.695 like it says above.
[Editor’s Note: Whoops, wrong thread. Let's try: Can You Feel A Ripple In The Force?]
Posted by: tipster at October 27, 2011 4:29 PM