June 24, 2011
Alpha, Beta, And The America's Cup
Twenty years ago, 611 Marina Boulevard sold for $1,250,000. Eight years later, the property sold for $1,620,000. And eight years after that, the property returned to the market listed for $3,995,000 and sold for $3,835,500 in 2007.
Unfortunately the next sale will no longer be perfectly apples-to-apples as the first floor was reconfigured and remodeled in 2008, but 611 Marina Boulevard is back on the market as of today listed for $4,800,000.
The listing now touts "front row seating [for] America's Cup events," of course. And the dining room has been painted green.
∙ Listing: 611 Marina Boulevard (4/3) 4,178 sqft - $4,800,000 [MLS]
∙ The $1,500,000 Half Bath On Marina Boulevard [SocketSite]
∙ The Scope Of Development For San Francisco’s First America’s Cup [SocketSite]
First Published: June 24, 2011 1:15 PM
Comments from "Plugged In" Readers
I saw this come on the market today and pretty much knew this was going to make it to SS. It almost seemed like bait to tell you the truth. This home will not sell for over 1k psf, not even close. They had it on the MLS for 4.9 in 2009 as well if I recall. $3.5 is a more reasonable figure but I've never fully understood the Marina Blvd market.
Posted by: eddy at June 24, 2011 7:44 PM
Am I missing something? Where are the front row views of the America's cup? All I see is a view of the marina, four lanes of Marina Blvd, and two lanes for parking. Hopefully there won't be any racing there.
Posted by: The Milkshake of Despair at June 24, 2011 8:09 PM
"Am I missing something? Where are the front row views of the America's cup? All I see is a view of the marina, four lanes of Marina Blvd, and two lanes for parking. Hopefully there won't be any racing there."
I think you're missing the part where you try just a little teensy bit before writing something, and click on the mls link. The third photo is even captioned "yes, that's an AC45 practicing in the Bay." Not that I think this is priced correctly, or that the America's Cup won't be more about renting high end properties as opposed to purchases.
Posted by: [anon.ed] at June 25, 2011 9:09 AM
Yes I saw that telephoto view screened through the masts in the marina. It is equivalent to a view through wide binoculars, not exactly front row. Near the shore of Crissy would be front row and at least that's a short walk away.
I think you're right about how the AC will affect the rental market. That could provide a great way for owners who want to move but don't want to sell in this market to stay aloft in a holding pattern.
Posted by: The Milkshake of Despair at June 25, 2011 11:11 AM
I bet it's pretty easy to watch boats out on the Bay from there with the naked eye, MOD. I've watched plenty of stuff from my friends' house's balcony with a similar spatial location. Granted, it's not front row.
Posted by: [anon.ed] at June 25, 2011 11:58 AM
Anyone know if Marina Blvd. traffic is forecast to decrease with the new Doyle Drive? I have heard this is a possibility.
Posted by: gh at June 27, 2011 11:25 AM
I'm not sure about the price either. This house is just not making me froth at the mouth like other properties do. It's updated but seemingly not to the standard that should be reflected in the price tag. The interior just looks like a hodge-podge of furniture put together and the color scheme doesn't mesh either. I'm just not feeling it for this property.
Posted by: Lori at June 27, 2011 11:45 AM
Note to sellers / listing agent: 129 Marina Blvd just closed for over asking in 69 days @ $775/psf. #pricingstrategiesthatwork
Note to Adam: Can you abandon the SFARMLS links for Redfin links. The MLS links return the Magic Partitioning error and are dead / useless after about a week.
Posted by: eddy at July 6, 2011 7:06 PM
Lowered to 4.4
Posted by: tipster at October 5, 2011 12:01 PM
Lowered again and to 3.995 and relisted.
Posted by: tipster at June 28, 2012 11:17 PM
Posted by: Denis at October 10, 2012 5:01 PM
I think my $3.5 call in 2011 was probably pretty spot on. Market better now. Those D7 Vics are flying into contract.
Posted by: eddy at October 10, 2012 6:24 PM