August 13, 2012
Lofty Expectations For ClockTower #656
While recently painted and redecorated, the kitchen, baths and layout inside the 1,560 square ClockTower loft building #656 look to be relatively the same as when purchased for $1,085,000 ($695 per square foot) in January 2010.
With one loft bedroom over the kitchen, two full baths and two car parking, 461 2nd Street #656 has returned to the market in 2012 listed for $1,995,000 ($1,279 per square).
First Published: August 13, 2012 8:00 AM
Comments from "Plugged In" Readers
OK, but overpriced.
Posted by: Mark F. at August 13, 2012 10:26 AM
Somebody be smokin' some good crack.
Posted by: 48yo hipster at August 13, 2012 11:37 AM
Somebody must be listening to all of those realtors who say the SF market is back to 2007/2008!
Posted by: scurvy at August 13, 2012 5:10 PM
About a million bucks too high.
The kitchens and bedrooms in those lofts always feel claustrophobic. Are there any w/ normal (or better, higher than normal) ceiling heights?
What's w/ the itty bitty room w/ the purple bed?
Posted by: lolcat_94123 at August 13, 2012 6:45 PM
2012 is not 2010. Nor 2008.
With all these truisms, I'll guesstimate 1.45M to 1.55M. Still a pretty cool pad.
Posted by: lol at August 13, 2012 7:08 PM
shouldn't the price be less than 2010? housing may have had a slight uptick in 2012, but it is still less than 2010.
Posted by: spencer at August 13, 2012 7:15 PM
" Are there any w/ normal (or better, higher than normal) ceiling heights?"
A grand tall room for a kitchen would look cool but wouldn't work well. Even with the best exhaust fans the cooking smells will radiate throughout the loft and the residue would deposit wide and far. In ye days of yore kitchens were compact and sealed off from the rest of the house with doors. Modern powerful exhaust fans allow doors to be eliminated and walls to be opened up. But they can't suck up wok fumes that have already risen above the hood.
Notice that though a restaurant might have sixteen foot ceilings in the dining room and an open kitchen that the kitchen itself will have low ceilings to contain the smells and heat.
So resist the temptation to design in a tall kitchen. Unless its show kitchen loaded with sparkling Euroappliances that won't see use anywhere near their potential. In that case go for it and add stained glass skylights and tortoise shell handled pot fillers.
Posted by: The Milkshake of Despair at August 13, 2012 8:26 PM
1.6 max, probably closer to 1.5
Posted by: Mole Man at August 13, 2012 8:52 PM
I think we're better off than 2011 and 2010. What was typical in 2010 and the first half of 2011 was sellers giving up to low-ballers which created very decent opportunities. Today it's more of a seller's market (for now at least).
The 94107 in 2012 appears to be valued higher than anytime during the 2009-2011 period according to Zillow (which has greatly improved their Zestimates lately).
Posted by: lol at August 14, 2012 9:14 AM
I would redesign that ships ladder to the roof deck to function like a drawbridge.
Then I would raise it for parties so someone wouldn't break their neck trying to go up or down it while holding a martini glass.
Posted by: redseca2 at August 14, 2012 9:50 AM
All that macro trends and stats really have no bearing on selected neighborhoods like South Beach. Hot areas like that are hyped up by realtors, driven further up by buyers with insane loads of money -- or are simply insane. Realtors are now circulating emails like "SF RE is STUCK --- at a high gear!" Now that .com bubble 2.0 is deflating rapidly, office vacancy is going up, America's Cup as a draw is proving to be a dudder, let's see what more creative marketing the realtors can come up with!
Posted by: HC at August 14, 2012 6:07 PM
It is pretty funny that a 1 bedroom being offered for $2M is presented as further "proof" that the market in San Francisco is soft. Aren't you feeling a little cognitive dissonance yet permabears?
I am a little surprised by this price myself though. $1k/sq foot seems like top for this location to me.
Posted by: NoeValleyJim at August 15, 2012 11:52 AM
HC's 2009 bear revival attempt was hilarious. I almost fell for it.
Posted by: lol at August 15, 2012 12:07 PM