We first featured (and gushed over) the 5,361-square-foot unit #405 atop the converted Phoenix Iron Works building, on the western edge of Oakland’s Jack London Square, back in early 2008 when it was listed for $2.2 million and sold for $1.975 million that July.

As we noted at the time, the loft’s open kitchen is outfitted with a wood burning pizza oven, limestone floors, industrial finishes and a temperature-controlled wine closet for over 1,000 bottles.

A spiral staircase leads up to a TEF (Tom Eliot Fisch) designed penthouse, spa and private deck.

And having subsequently traded hands for $1.675 million in July of 2009, 737 2nd Street #405 has just resold for $2.75 million or roughly $513 per square foot.

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Comments from “Plugged-In” Readers

  1. Posted by Notcom

    Yes, you described it as “hardcore”, which at first I took to mean it had an Armoryesque background – and combined with “gushed” might have made for an effective double entendre (I should have known better…this is still a family-friendly site) – but I guess the wording was meant as a complement on its authenticity.

    Curious as to the closely spaced sales – 2008 and 2009 – tho combined w/ the price drop maybe just an unready (first) buyer.

  2. Posted by The Milkshake of Despair

    Cool bachelor pad, crummy location.

    • Posted by Notcom

      “My (wild, unsubstantiated) prediction is that if there is one interested buyer then it will sell for about or a little less than asking. If there are two or more buyers smitten with it, a bidding war will drive the price way up, maybe $2.7M” – 2008

      Looks like you still haven’t warmed up to the location, but you get 5 Gold Stars for prophecy.

      • Posted by The Milkshake of Despair

        Actually I have an affinity towards industrial aesthetics and would feel at home here. But I’m not the only decision maker in my household. Even if I were, there’s still the consideration of who to sell to next, this property is handicapped.

        • Posted by Anon123

          I like the interior as well, but the co-decision maker in my household does not appreciate exposed duct work etc. – but the wine closet really sold me! Anyway, as much as I like views, shipping yards aren’t my flavor… not that it matters at 2.7 million.

  3. Posted by Brian M

    I don’t know. VERY industrial (still) but near a lot of neat stuff.

  4. Posted by Sierrajeff

    I. Just. Don’t. Get. It. I mean sure, style is subjective, taste (including in location) is subjective … but if I’m gonna drop $2.75M on a home, it’s not going to be next to train tracks, overlooking an industrial zone, in a lets-face-it-not-great part of Oakland. (Between the rails and 880, I can’t imagine what kind of constant din there must be at this location… let alone particulate pollution.)

    • Posted by Panhandle Pro

      If you want to throw massive parties without getting the cops called on you, this is the perfect place for you. That buyer exists somewhere.

      • Posted by The Milkshake of Despair

        That’s a bingo and why this is basically an alpha bachelor pad.

        BTW, nice palapa! Just add palm leaves. I wonder if that was added before or after the Silicon Valley episode aired.

      • Posted by SocketSite

        We’re not sure all of the residents and owners in the building’s other 29 units would necessarily agree…

  5. Posted by E.Gonsalves

    If this were in SF the comments would have been about how expensive and “desirable” SF real estate really is. No one ever talks about particulate matter when a condo sells next to the SF side of the Bay Bridge. This sale is just going to bring even more luxury housing and construction cranes to Oakland.

    • Posted by The Milkshake of Despair

      Wrong. If you read older articles about residential adjacent to the Bay Bridge in SF you will find plenty of discussion on pollution and particulates.

      • Posted by The Milkshake of Despair

        In fact here’s a comment from four days ago mentioning particulate pollution on the other end of the bridge.

        “Had nothing to do with views. Was about particle pollution and airflow issues that other designs for the same parcel could avoid.”

    • Posted by Notcom

      And considering that the equivalent – or similar, at least – Over There would likely have received several times this price, I think that makes sense, don’t you?

      I can’t much argue against your point on apologistas unwavering ability to dismiss SF’s faults – Uber. Prime. extending the T to Cabo – but that’s what realtors do…for a living…appreciate the professionalism.

      • Posted by E.Gonsalves

        Not sure if a unit like this next to SF’s few remaining shipping cranes would garner more than what this property fetched. It’s a unique property right next to Jack London Square. Not sure if there’s a comparable area near Bayview shipping cranes.

        • Posted by Notcom

          Hence “or similar”, by which I mean a harsh industrial persona, rather than specific amenities (like a container crane as a neighbor).

          And w/ that in mind [how about this], which tho differently sized and not a penthouse – HINT: that’s normally a selling point – fetched about twice on a /sf basis.

          The neighborhoods are also different, since SF has fewer functioning industrial areas: they tend to have been either converted or cleared, since – as Jake used to tell us…endlessly – the conversion to higher value use progressed faster there.

  6. Posted by E.Gonsalves

    I just realized that this huge party pad is going to have awesome views of the A’s new Howard Terminal ballpark.

    [Editor’s Note: The proposed development of which an A’s co-owner once characterized as “as close to impossible as anything” (versus the “done deal” site south of Lake Merritt).]

    • Posted by E.Gonsalves

      From what I hear Howard Terminal May be back in play. The previous owner had no interest in building anywhere in Oakland. Funny that now he has a planned 18 story hotel in DTO ready to possibly break ground.

      • Posted by Dandywhatsoever

        I heard that it’s absolutely back in play. And I’d bet money the buyer is somehow associated with the A’s organization.

        • Posted by Justin

          Both of those locations are very poor. It should stay at the coliseum site. Retrofit the existing building. Cheaper build, faster schedule, better infrastructure.

  7. Posted by that_dude

    Poor choice of finishes. Horrible home-depot suburban flooring and ugly granite.

    • Posted by Mark F.

      Agreed, but that could be fixed.

    • Posted by Justin

      honestly isn’t that like every home you see nowadays? home depot specials.

  8. Posted by jenofla

    Actually like that location and view, but maybe I read too much Three Investigators as a kid. Not sure why this is just a bachelor pad, I could see a family with older kids having much fun there. Plenty of room to hang stuff from the ceiling, et al.

    Where was I in 2009?? Argh!

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