November 28, 2012

Calling All Warriors Willing To Bet On The Watermark And An Arena

501 Beale (www.SocketSite.com)

While a number of penthouses atop the Watermark at 501 Beale Street have gone back to the bank and sold for substantial discounts over the past couple of years, the 2,055 square foot Penthouse #1C on the 22nd floor at 501 Beale has just hit the market listed for $3,200,000 having been purchased as new for $2,300,000 in January of 2007.

501%20Beale%20%23PH1C%20Living.jpg

The northeast corner three-bedroom currently features "dramatic Bay, City, and Bay Bridge views," and would directly overlook the new Warriors arena and Seawall 330 developments.

Assuming, of course, that they are built below.

∙ Listing: 501 Beale Street #PH1C (3/2.5) 2,055 sqft - $3,200,000 [watermarkph1c.com]
Another Watermark Penthouse Returns To The Market Bank-Owned [SocketSite]
The Design For The Warriors San Francisco Arena On Piers 30-32 [SocketSite]
The Conceptual Details And Design Discussion For Seawall 330 [SocketSite]

First Published: November 28, 2012 12:00 PM

Comments from "Plugged In" Readers

Bogut should probably pass. Any chance they transposed the first two numbers of the price? Nice views for now, but those are not the bedrooms I would want for $3M!

Posted by: CH at November 28, 2012 12:27 PM

Question: How does this unit come with 2 parking spaces? I thought city rules did not allow new construction to have more than 1 parking space per unit.

Posted by: JustLooking at November 28, 2012 1:00 PM

@JustLooking - parking was mandated at 1:1 for this building, but the city doesn't mandate that each unit have one space. This unit was sold with two, and another unit was sold without one.

I've seen other new buildings with some units bundled with up to four spaces while many others have none. In most new buildings, the city now requires parking to be unbundled from units - so you buy the unit separately from parking. You want one spot? Buy it. You want six, try to buy them. You want none, you get a cheaper place to live.

Posted by: anon at November 28, 2012 4:45 PM

it's tandem parking. so it didn't take any parking space away from another unit. two car parking, even if tandem, is nice!

Posted by: matteo at November 28, 2012 4:55 PM

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