October 26, 2012
Contemporary Penthouse Under Cover Of Victorian Façade Take Two
As we wrote about 1770 Fell Street #5 in July of 2010:
You should know we’re suckers for natural light and indoor/outdoor living (especially when off the kitchen). Radiant heat, three car parking, and proximity to the park never hurts.
And the saunas (both dry and steam) atop 1770 Fell are simply a bonus.
Listed for $1,600,000 at the time, the penthouse condo was withdrawn from the market without a reported sale two years ago and listed for rent at $5,950 per month.
It's now two years later and take two for the nearly two thousand square foot condo which has been listed anew for $1,599,000 with transfer at possession of escrow.
∙ Listing: 1770 Fell #5 (3/2) 1,984 sqft - $1,599,000 [Redfin]
∙ Contemporary Penthouse Under Cover Of A Victorian Façade [SocketSite]
First Published: October 26, 2012 6:30 AM
Comments from "Plugged In" Readers
It's a pretty place! I like the triangular dormer window, and the recessed lighting in the kitchen. What do we call it when the light shines up at the ceiling instead of directly on to the living space? Refracted?
Not really a comp in terms of neighborhood, but for size and perhaps level of finish, this house, 282 28th Ave:
recently sold for $1.69mm after languishing on the market since March. I think the buyers got one of the best deals all year inside the Seacliff posts. Single Family, garage, 4br/3baths. More foggy many would say, but also less hobo-ey than being across from GGP. The sellers made a mistake by painting the house wet Hershey brown. Again, I'm not comparing apples to apples, but dollars to dollars.
Feliz Viernes a los Gigantes con su victoria sobre los Tigres!!!!!
Posted by: soccermom at October 26, 2012 9:22 AM
This is a steal at list, look at the recent comps. Panhandle area NOPA/Upper Haight is Noe Valley-izing quickly in this market. I'm seeing more nannies with strollers and dog walkers than hobo's these days. Beautiful exterior and curb appeal here.
Posted by: HedgeTrimmer at October 26, 2012 10:03 AM
I visited this 2 years ago. I remember it being nicely done and (unexpectedly) quite. Not sure I would be willing to pay that price to live in a 5 unit bldg on Fell though.
Posted by: Craig at October 26, 2012 11:11 AM
So this is right around the corner at 2130 Hayes, has been on the market for 85 days, and was reduced 10/3 from $1.575M to $1.45M. No sauna or hot tub but you also don't have as much traffic and you have an elevator.
I see reduction in the future for Fell.
Posted by: Boo at October 26, 2012 11:57 AM
Oops, just noticed 2130 Hayes is TIC. Not a good comp then. But when/if these two sell it should at least be a decent indicator of the premium for being condo though.
Posted by: Boo at October 26, 2012 12:07 PM
That's not recessed lighting. Those are long, narrow skylights. (there may be recessed lighting, too, for night time but I don't remember).
Posted by: BobN at October 26, 2012 4:50 PM
Reading the original posts two years ago, I recall that a number of us placed bets on the selling price, but we were all wrong, as it was withdrawn. So two years later, I'll reinstate the same bet: 1.5
Posted by: Kurt Brown at October 26, 2012 9:56 PM
It is funny to read through the comments from 2010 and then from today. In a tough market (like 2010), it was so easy for every armchair quarterback to be so negative against the property, the street, and the panhandle. We lived on Fell for years and had a great experience. Having sold my Fell Street property earlier this year after two open houses (with 7 offers over asking), I can attest NOPA is a great place to live!
Posted by: Jeff at October 29, 2012 1:13 PM
I still stand by my 1.6M estimate
Posted by: lol at October 29, 2012 1:44 PM