Purchased for $2,700,000 in 2008; on the market for $2,550,000 in 2009; and listed for $2,100,000 last year, the 1,670 square foot St. Regis two-bedroom known as 188 Minna Street #33C has just returned to the market anew, now asking $1,995,000.
∙ Listing: 188 Minna #33C (2/2.5) 1,670 sqft – $1,995,000 [paragon-re.com]
it’s a rather plain box in the sky. 2 million for this???
paragon wisely kept the HOA off the webpage.
i wouldn’t dream of acquiring this property…
Listing website still says $2.1 and $1.995 seems way to high a price for this cookie cutter box. How anyone every figured $1,616/psf was a good investment is beyond me. 28D sold for $1500/psf and although its nicer than this unit, by far, even that price is way too high. I can’t believe people are paying these prices even today.
Boy are you guys ever off market. Have you looked at the comps? The penthouse here recently sold for $28MM, or $1,400 psf. That makes this place worth at least $2 to $2.4 million easy. Some savvy investor can scoop up some instant equity before the Facebook IPO ignites the market again. I mean look at the huge effect that the Zynga IPO had on local prices!
On a serious note, if it goes for asking, this is nearly an $800K loss on a 2-bedroom Soma condo. Amazing. Because $800K is enough to buy another 2-bedroom Soma condo in and of itself. Who throws away $800K in 3 years?
On the shelf in the closet, is a book titled “Seeing What’s Next”
I wonder if the owner read it.
This condo is a dog meant for a buyer who knows nothing more than that they want a “St. Regis” branded home. The pics show a bland unit with nothing distinctive or unique.
$2M would have bought you a 3 bedroom Infinity unit with a great panoramic bay view not too long ago.
Take away the “St. Regis” brand and this should sell for
Who throws away $800K in 3 years?
Close enough: yours truly who rode AAPL from 7 to 15 and then sold in 2004… 7 years later, AAPL at 420, 1M+ of potential profits gone. Sigh.
hoa is 2197, ouch.
and those HOAs…yikes!
Looks like the original sale price in 2006 was for $1.815 million. Even odds that the 2008 sale to CH Limited LLC may be to a ‘family owned’ entity (agent for service of process does family wealth management).
Wow, only $1M a bedroom! What a great deal!!!!
Hate, hate, hate this stock “luxury” condo floor plan. Every new building seems to have some variation of this. How is walking through the front door directly in to the kitchen “luxury”??? Reminds me of every cookie-cutter apartment I lived in during college.
I certainly don’t see 1670sf in the photos, unless half of the square footage is in the generous-looking walk-in closet and Caracalla’s bath. It appears that it’s not even a corner unit and has relatively undersirable western views (no water view?). The people marketing this unit don’t seem to have any desire to persuade me to part with $2 million. Based on the photos I barely see a $1 million place, and that’s assuming you really do get 1670 usable sf.
Combine the mortgage payment and the insane HOA, and you’d be better off just being a long-term guest at the hotel. This is a complete sucker buy. Someone with a lot of money and very little intelligence…
UPDATE: A Rather Red St. Regis Apple Falls A Rather Ironic 35 Percent