A perennial favorite which plugged-in people have been keeping an eye on since we first featured it back in 2006, yesterday 311 Marina Boulevard sold to a third party on San Francisco’s courthouse steps for $1,845,000 cash versus an opening bid of $1,700,000.
As plugged-in people know, the prime Marina district home had been purchased for $2,350,000 in 2004 and then refinanced a number of times since, most recently in 2007 with a first mortgage for $2,583,000 and a second for $500,000.
The transfer of the property that was recorded in 2007 with a sale price of “$3,690,000” appears to have been between family members. And at the beginning of this month, the balance due on the first mortgage had grown to $2,928,035 including fees.
Don’t forget those invitations to the housewarming (and the America’s Cup).
∙ PropertyShark Launches San Francisco Foreclosure Listings [SocketSite]
∙ Scheduled Auctions Flat As Pre-Foreclosure Activity Ticks Down [SocketSite]
∙ The Scope Of Development For San Francisco’s First America’s Cup [SocketSite]