August 29, 2011
Another Round Of Reductions (And "New" Listings) At 1299 Bush
On the MLS for 171 days at $679,000, last month the listing for 1299 Bush Street #303 was withdrawn. This past Friday, however, the Axis two-bedroom was listed anew at an "original" list price of $659,000 and an official "one day" on the market according to industry statistics.
While the new listing for #303 now omits the square footage, according to the previous listing and condo map, the two-bedroom measures 995 square feet.
The 995 square foot unit one floor above (1299 Bush Street #403) sold for $675,000 last month having last been listed for $697,000 while the 995 square foot unit above that (1299 Bush Street #503) sold for $692,000 having been listed for $715,000.
As plugged-in people know, the 940 square foot #203 was listed for $795,000 when the building formerly known as "Citadine" first hit the market in 2009 and was listed as new for $675,000 when the building relaunched as Axis ten months ago. Number 203 is now listed for $639,000 with an official two years "105 days" on the market.
∙ Listing: 1299 Bush Street #203 (2/2) 940 sqft - $639,000 [MLS]
∙ Listing: 1299 Bush Street #303 (2/2) 995 sqft - $659,000 [MLS]
∙ 1299 Bush Tries Again As
Citadine AXIS San Francisco [SocketSite]
∙ Citadine (1299 Bush): Current Pricing And A Peek Inside [SocketSite]
First Published: August 29, 2011 10:30 AM
Comments from "Plugged In" Readers
I sent one of my buyer clients to an open house advertised in the MLS. And the on site agent was too busy to show her. The on site agent told her to wait in lobby. After 10 minutes of waiting, she left to run an errand and came back later. Same story, she was told to wait in the lobby. After another 10 minutes waiting to see the units, she left again. And won't go back. I contacted listing agent to describe my client's experience and his response was "too bad". He bragged about how many units he sold there. I have only been in the RE business 33 years so maybe I don't know jack, but I would never treat a prospective buyer like Axis treated my buyer. I wonder if the owner would like to know that a buyer came to look and for some absurd reason was not shown the units.
Posted by: Arn Cenedella at August 29, 2011 10:51 AM
These places look like crap.....whos idiotic idea was it to put red lacquer kitchens in this.....and the block sucks to....still not worth the reduced price
Posted by: mikey woodz at August 29, 2011 11:01 AM
So basically, offer at least $20k under listing price if you want the unit. They seem to be accepting offers with that discount.
Not that I'd want the unit. Just offering a tip.
Posted by: scurvy at August 29, 2011 11:56 AM
Its a mystery to me how any one would drop 675,000 to live in that crack infested area of SF
Posted by: Mike at August 29, 2011 4:40 PM
I don't know anything about the building other than having passed it casually a few times -but that's a wholly unforgiving & unwelcome entrance to the building. If anything, it should not have been oriented diagonally to an odd hilly intersection where you immediately feel like you're in or at least bombarded by all that passing-through traffic. Who would angle the entrance into such an ugly intersection? The building needs a major nerve-calming effort (trees?, built-up wooden-trim entrance?). If those silver doors are not the building's entrance (and, more like a medical equipment sapce or dental lab) -- ignore everything I've said.
Posted by: Invented at August 29, 2011 4:48 PM
I drove by there all the time, to work and to play, so I'm puzzled at the comments here. Crack infested? If you're referring to further south where the Tenderloin is, perhaps. But there's nothing wrong with this particular location. Would I pay the amount that they're asking? No. But at the right price I'd live there.
Posted by: Samuel at August 29, 2011 4:49 PM
I couldn't live with that red kitchen and the rest of the photos look like the inside of something institutional like a nursing home or hospital. Unlike so many other posters on this site, I don't enjoy making disparaging remarks about places that I myself couldn't afford. But the honest truth is that, even though I could afford this one, the interiors at least don't do anything for me.
Posted by: BT at August 29, 2011 4:51 PM
"Photo is of the living room in Unit 203. 303 has a larger living and dinging room and similar finishes."
Shouldn't the recession have shaken out the lamers?
Posted by: EH at August 29, 2011 8:10 PM
Samuel, it isn't crack infested, but it is ho infested. Drive (or better yet walk) past there a few hours after the sun goes down. HELLO LADIES (or maybe a few men)!
Posted by: scurvy at August 30, 2011 6:46 PM