Having been purchased for $665,000 ($828 per square foot) in 2007, and having fallen out of contract last week when listed for $425,000, the “approved” short sale of 310 Townsend Street #408 is once again active and available and listed for $435,000 ($542 per square), a 36 percent drop in value at asking.
At the same time, the list price for the “regular sale” of 310 Townsend #108 has been reduced to $389,000 ($569 per square foot). The one bedroom was purchased for $525,000 ($768 per square) in 2007 as well, an effective drop of 26 percent at asking.
∙ Listing: 310 Townsend #108 (1/1) 684 sqft – $389,000 [MLS]
∙ Listing: 310 Townsend #408 (1/1) 803 sqft – $435,000 [MLS]
∙ 310 Townsend: Available And Selling [SocketSite]
Apparently, 408 is back in contract.
Too bad these units don’t have parking, especially now that all these streets have meters. =(