Listed for $1,449,000 two months ago, the asking price for the three-bedroom Nob Hill condo #106 at 850 Powell Street (a.k.a. The Francesca) has recently been reduced to $1,349,000.
With a box beam ceiling in the dining room, a wood burning fireplace in the living room and a remodeled kitchen, the elegant 2,461 square foot unit is now priced at $548 per square foot.
Not included in the list price, however, is parking in the building (which is leased and “available on a seniority basis”) and HOA dues of $2,058.82 a month.
The condo was purchased for $587,000 in 1999 at which point the average 30-year mortgage rate was around 7 percent, a rate at which a $2,059 monthly payment would have serviced around $350,000 in debt versus closer to $550,000 at today’s 30-year rate.
∙ Listing: 850 Powell Street #106 (3/3) 2,461 sqft – $1,349,000 [850powell106.com]