CATEGORY ARCHIVE: East Bay
March 9, 2010
March Madness For 5950 Margarido (Coincidence?)
While we typically wait until a property has closed escrow, or at the very least until all contingencies have been waived, a plugged-in tipster notes that 5950 Margarido just went into contract. And we never get tired of looking at that house (click image to enlarge).
Keep in mind the asking price was reduced from $5,500,000 to $4,795,000 last month. And note our reference to March Madness in our October headline. Coincidence? (Yes.)
Now about those margaritas...
∙ There’s Green (And Perhaps Even Platinum) Up In Them Thar Hills [SocketSite]
∙ It’s March Margarita Margarido Madness As 5950 Goes Live At $5.5M [SocketSite]
Posted by socketadmin at 5:00 PM | Permalink | Comments (1) | (email story)
February 3, 2010
No Exemption (And Little Love) For Alameda Point Development
"With all precincts reporting, Measure B in Alameda lost, 85 percent to 15 percent. It would have allowed a one-time exemption to Measure A, a 1973 ordinance that bans anything larger than a duplex on the island."
"If it had passed, Measure B would have allowed a development at Alameda Point with 4,500 units of apartments, condominiums and single-family homes, as well as offices, parks, a ferry terminal and other amenities."
∙ Voters rejecting Alameda development project [SFGate]
∙ Alameda Point Redevelopment [alameda-point.com] [Master Plan (pdf)]
Posted by socketadmin at 8:00 AM | Permalink | Comments (12) | (email story)
January 19, 2010
A Strong Second Sale But Not Quite The Real(tor) Facts
Last week the press release went out for the sale of 222 Broadway #1505 across the bay at $1,100,000 touting the "First Oakland Million Dollar Condo Since October 2008" and including the following line:
The last time more than one million dollars was paid for an Oakland condominium was in October 2008, according to the East Bay Association of Realtors.
Both the Chronicle and Business Times ran stories based on the release but neither appear to have checked the basic premise (or facts). Plugged-in people, however, might recall the sale of 737 Second Street #405 which closed escrow for $1,675,000 (15% under its July 2008 sale price) over in Oakland in June 2009.
But hey, second isn't so bad and that Second (the real first) was rather sweet.
∙ Designer East Bay Apples To Apples For 737 Second Street #405 [SocketSite]
∙ $1 million Oakland condo sells [SFGate]
∙ Oakland condo sale breaks $1M barrier [Business Times]
∙ Hardcore East Bay Property Porn (And Then Some): 737 2nd St. #405 [SocketSite]
Posted by socketadmin at 12:45 PM | Permalink | Comments (7) | (email story)
December 1, 2009
Will Golden Gate Fields Follow In Bay Meadows’ Footsteps?
The bankruptcy related auction of Golden Gate Fields over in the East Bay has been scheduled for February 25, 2010. The 130-acre property has been unsuccessfully targeted for development a number of times.
Residents in Albany, a city of 17,000, have resisted previous development proposals and in 1990 approved zoning laws that limit the land's uses to live horse racing, sports or water-related commercial development, restaurants, bars and open space. Hotels and housing, for instance, are forbidden. Any change to the zoning must be approved by voters.
The property currently generates over a million dollars a year in taxes for Albany’s general fund. And while a recent community survey reveals that most resident’s "do not necessarily want to see a racetrack there" going forward, "the vast majority want to see the tax revenue retained at the same level" and "everyone would like to see more open space."
San Mateo’s Bay Meadows racetrack was shuttered fifteen months ago and quickly razed to make way for an 82-acre mixed-use development including 1,171 residential units, 715,000 square feet of office space and 93,000 square feet of retail space.
Construction, however, has yet to commence.
∙ Golden Gate Fields to go up for auction [SFGate]
Posted by socketadmin at 6:00 AM | Permalink | Comments (4) | (email story)
November 18, 2009
Modern Ito Design Falls Prey To Modern Berkeley Economics
"A shortage of funds has prompted UC Berkeley to abandon its plan to construct a new Berkeley Art Museum and Pacific Film Archive downtown. The building, a distinctive and innovative design by Tokyo architect Toyo Ito estimated to cost $143 million, was to replace the museum's present, seismically endangered quarters on Bancroft Way..."
∙ UC Berkeley must scale back on downtown museum [SFGate]
∙ Across The Bay (But Modern Museum Architecture Is On The Brain) [SocketSite]
Posted by socketadmin at 8:15 AM | Permalink | Comments (4) | (email story)
October 30, 2009
It’s March Margarita Margarido Madness As 5950 Goes Live At $5.5M
With the flick of a switch and a plugged-in tip, The Margarido House (5950 Margarido Drive, Oakland) has officially gone from coming soon to on the market online.
The marketing site features a full gallery, plans and description for the five bedroom, five bath and 4,665 square foot LEED Platinum certified house in the Oakland Hills. The only detail that's conspicuously missing from the site, an official asking price.
UPDATE: Make that an official $5,500,000 (and the next time we spell Margarido correctly when searching Redfin).
∙ Listing: 5950 Margarido Drive (5/5), Oakland [themargaridohouse.com] [Redfin]
∙ There’s Green (And Perhaps Even Platinum) Up In Them Thar Hills [SocketSite]
Posted by socketadmin at 8:30 AM | Permalink | Comments (33) | (email story)
October 26, 2009
A Reader’s Report And Recommendation Across The Bay: 2830 Garber
A plugged-in San Francisco tipster crosses the bay and reports on 2830 Garber Street:
I saw it yesterday and I have rarely seen so much traffic at an open house. It has 3 bedrooms and 2 baths on the top floor, and all of the bedrooms have Golden Gate and Bay View Bridge views.
It was built by the well known architect George Plowman as his personal residence and it is perfect example of Arts and Crafts architecture. The kitchen has been updated, but otherwise all the original details in intact.
It also has a basement area that could be used as an Au Pair residence or rented out to a student.
This area of Claremont Court is probably the best neighborhood in Berkeley and compares favorably with Rockridge or Noe Valley. This home would probably cost double this price in Noe or Forest Hill, if you could even find it.
And no, our tipster is neither an - much less the - agent nor has any vested interested in the sale of the property (as far as we know).
∙ Listing: 2830 Garber Street (3/2.5), Berkeley - $1,150,000 [Grubb Co.]
Posted by socketadmin at 2:30 PM | Permalink | Comments (25) | (email story)
August 11, 2009
Designer East Bay Apples To Apples For 737 Second Street #405
If you didn’t see it a year ago its website is still live and it’s worth a look. And if you did and wondered what happened a plugged-in reader reports:
This property is now an apple…changed hands in just under a year. Original buyer paid $1.975M in Jul '08 [asking $2,200,000 at the time], sold it for $1.675M in Jun '09…
Call it a drop of 15.2% over the past year. But regardless, we still love the design.
∙ Hardcore East Bay Property Porn (And Then Some): 737 2nd St. #405 [SocketSite]
Posted by socketadmin at 10:30 AM | Permalink | Comments (47) | (email story)
August 3, 2009
When The Fundamentals Make Sense (But Please Not Before)
"[Oakland's McKinley Partners] is emblematic of a major force currently propelling the real estate market: investors and speculators snapping up foreclosed homes. Along with first-time buyers, they are a primary source of increased sales volume."
∙ Oakland group buying Contra Costa foreclosures [SFGate]
Posted by socketadmin at 9:30 AM | Permalink | Comments (4) | (email story)
April 13, 2009
JustQuotes: East Bay Agents And Stagers Beware
"An unusual wave of burglaries has hit unoccupied houses for sale in this affluent 1.8-square-mile bedroom community in the hills east of Oakland, and it is testing the forced cheerfulness of real estate agents who are already reeling. Last weekend, two staged houses were burglarized in nearby Orinda, a wealthy suburb, robbed in the morning hours before planned afternoon open houses."
∙ Houses, Decked Out for a Sale, Are Burglarized [New York Times]
Posted by socketadmin at 7:00 AM | Permalink | Comments (0) | (email story)
September 5, 2008
Budding Big Buildings Across The Bay (Oakland And Emeryville)
Encinal Jackson has submitted an application to build a 56-story mixed-use tower at 1938 Broadway in Oakland. At 715 feet, the proposed tower would nearly double the height of Oakland’s current tallest building, the Ordway at 1 Kaiser Plaza.
The proposed tower would contain 1.5 million square feet of space, including 790,000 square feet of office, 320,000 square feet of parking, 75,000 square feet of retail and 220 residential units.
The building, designed by global architecture firm Skidmore, Owings & Merrill, features a modern, glass-lined cylindrical shape with a section that curves down one side resembling a roll of fabric unraveling.
And while Encinal Jackson proposes to build 1.5 million square feet up, TMG Partners has received approval to build "1.5 million square feet of residential, retail, office space and parks" across Emeryville’s EmeryBay Market Place.
∙ Highrise hopes in Oakland [Business Times]
∙ TMG moving Emeryville from suburbs to city [Business Times]
Posted by socketadmin at 10:15 AM | Permalink | Comments (2) | (email story)
August 15, 2008
When Being “Priced Out Of The Market” Is A Blessing In Disguise
A first-time buyer across the bay picks up a “three-bedroom, two-bath house in East Oakland, for $199,500. The previous owner had paid $475,000.”
Perhaps being “priced out of the market” was a blessing in disguise. The previous owner? Not so blessed.
UPDATE: And simply speaking of the East Bay (but not this neighborhood in specific):
I live in Maxwell park, West of 580 between Foothill and High and have great feelings for the neighborhood, which sees a lot less violet crime than the Laurel. (many house break-ins when school is out, though). It's a great deal considering proximity to BART, hiking, organic grocery stores and GINORMOUS lots (which the laurel does not have). Around 150K less than the laurel, 200K less than the Dimond. Great winding streets, too...
∙ Doors open for first-time home buyers [Business Times]
∙ For A Select Few First-Time Buyers Willing To Cross The Bay [SocketSite]
Posted by socketadmin at 10:30 AM | Permalink | Comments (44) | (email story)
August 13, 2008
There’s Green (And Perhaps Even Platinum) Up In Them Thar Hills
The Margarido House (5950 Margarido Drive) is slated to become the first LEED certified Platinum home in Northern California. And while it wasn’t built in San Francisco (nor is it on the market), it was built right across the bay in Oakland (and there will be tours).
The details (and plenty of blue green porn) online. Oh, and the developer's story as well.
UPDATE: As a plugged-in reader notes, while there might be green and platinum up in them thar hills, apparently there's a foreclosure too (6001 Margarido).
∙ The Margarido House (5950 Margarido Drive, Oakland) [margaridohouse.com]
∙ Green In The Hills [SFGate]
Posted by socketadmin at 3:30 PM | Permalink | Comments (34) | (email story)
July 23, 2008
Across The Bay But A Plugged-In Reader Recommends: 1824 Magellan
It’s across the bay. And we can’t vouch for it. But a plugged-in tipster recommended it, and there’s a chance you might like, so we’re rolling the dice. In our reader’s words:
My friend has a house up for sale in Montclair that is open this Sunday. I've worked with the same Architect before that remodeled the space for our house which won some awards. This house in Montclair is very well done and worth a look.
Visually the rest of the house is similar to the main living space. Each room has been updated with new electrical, hardware, [hardwood] floors refinished, new exterior paint, new fixtures throughout…and new interior paint in the style of the main remodel.
The 2 bathrooms are currently still period retro from the 30's/40's and are clean and painted, but not remodeled. The owner has designs for the master bath to be remodeled that are included in the sale.
If you happen to take a look, let us know if we should continue to trust this tipster (we do keep track). And yes, while it’s entirely possible that our tipster and his “friend” (or architect) are one and the same, as long as our reader's benefit we really don't care.
∙ Listing: 1824 Magellan Drive, Montclair (2/2) - $818,000 [Berkeley Hills Realty]
Posted by socketadmin at 2:30 PM | Permalink | Comments (63) | (email story)
July 10, 2008
Green Building Over In Oakland And Over BART (1100 Broadway)
It’s across the bay (Oakland) and it's not residential (commercial), but we’re suckers for Green buildings (no, not the color) and interesting "animations.”
When complete, 1100 Broadway will rise 20-stories over the 12th Street/City Center Bart Station, will renovate and incorporate the historic Key System Building next door (without looking like a schlocky addition), and will provide 310,000 square feet of office space along with 10,000 square feet of ground floor retail.
∙ 1100 Broadway [1100broadway.com]
Posted by socketadmin at 9:00 AM | Permalink | Comments (8) | (email story)
June 27, 2008
They're Not Building Any More Land Condos Across The Bay
"Oakland's condo building boom has ground to a near halt. While construction has continued on existing projects, Patton said no new projects have broken ground during the first half of 2008.
A June report on the East Bay condo market from the Mark Co. lists at least a dozen projects slated to begin construction in 2008 that are now on hold. And work halted on Olson Co.'s City Walk at 1260 Martin Luther King Jr. Way last July and has yet to resume because of funding problems, according to Olson spokeswoman Nancy Green.
Other projects, such as Lightner Property Group's 120-unit 3250 Hollis St. and 100-unit 2847 Peralta St. are ready to break ground, but have been put off until the market shapes up."
UPDATE: From a plugged-in developer: "I own a nearly fully entitled 16 project in a great location by Lake Merritt and it does not come remotely close to penciling out. I figure the market there has dropped 40%."
∙ Oakland developers freeze housing projects [San Francisco Business Times]
Posted by socketadmin at 2:00 PM | Permalink | Comments (50) | (email story)
June 20, 2008
Name This East Bay House Compound In One Photo/Map Or Less
It’s not our usual fare, and it’s a bit outside our wheelhouse (at least this month...), but we do aim to please. Plus it’s Friday, it’s hot (did you notice that pool?) and it’s past time for a cocktail. So a reader's question to end the week:
Any idea what this house is? It looks like it's off Devon Way in Berkeley.
We can’t answer, but perhaps another will. Represent (and then join us on the deck).
UPDATE: And one again, represent you do (and frighteningly fast for late on a Friday). A plugged-in reader correctly identifies the Oakland Hills mansion that was built by Robert Felton in the year 2000 and then follows up with a reference to its 45 kilowatt solar system as featured (with a great title) in the New York Times. Cheers.
∙ Map: Unknown East Bay House Compound [Microsoft Maps]
∙ Plugging Into the Sun [New York Times]
Posted by socketadmin at 4:45 PM | Permalink | Comments (12) | (email story)
June 9, 2008
Across The Bay (But Modern Museum Architecture Is On The Brain)
"He doesn't have the name recognition of a Frank Gehry or a Daniel Libeskind, but Toyo Ito is one of Japan's most acclaimed and adventurous architects. Looking at the design for a downtown Berkeley museum that would be his first building in the United States, it's easy to see why."
∙ Box of plenty: design for Berkeley art museum [SFGate]
Posted by socketadmin at 5:00 PM | Permalink | Comments (11) | (email story)
May 6, 2008
One Of Only 49 Oakland (The City) Eichlers: 8100 Phaeton Drive
It’s an Oakland (both in terms of the city and Claude) Eichler across the bay. If our tipster is correct, it’s one of only 49 ever built (in terms of the city). And once again, a retractable roof (although this time over the atrium).
∙ Listing: 8100 Phaeton Drive (4/2) - $829,000 (Oakland) [Red Oak]
Posted by socketadmin at 10:03 AM | Permalink | Comments (15) | (email story)
April 1, 2008
A Tripling Of Sales! (After Effectively Reducing Prices By A Third)
Over the past thirteen months only twenty (20) of the 157 condos in the new Eight Orchids development in Oakland have sold. But on Sunday that number tripled in a matter of hours as 41 units "successfully" went to auction.
One of the early single-bedroom condos sold for $316,000, up from a starting bid of $245,000 but well below the original $435,888 asking price. The auction for a three-bedroom, three-bathroom town home started at $475,000, stalled around $528,000 and then quickly ran up to $534,000….That was nearly 34 percent off the list price of $805,888.
The big question, will the extra 41 units now in contract create the momentum needed to move the remaining 96 units at prices closer to list (you know, what those early twenty buyers paid), or has it simply exposed the "new new" market price for all of the units in the building (and perhaps even beyond)?
∙ Luxury condos in Oakland sell at a discount [SFGate]
∙ JustQuotes: Might It Draw Demand From Way Over In San Francisco? [SocketSite]
Posted by socketadmin at 7:41 AM | Permalink | Comments (14) | (email story)
March 18, 2008
Hardcore East Bay Property Porn (And Then Some): 737 2nd St. #405
First and foremost, the property is across the bay in Oakland. We repeat, this is across the bay in Oakland. That being said, we’re in love. (And then some.)
Wood burning pizza oven, industrial pantry doors, 1000+ bottle temperature controlled wine cellar, and limestone floors in the kitchen.
And eleven and one-half foot ceilings on the main floor with a spiral staircase leading up to the Tom Eliot Fisch designed penthouse, roof deck and private garden. Yes, yes, yes.
∙ Listing: 737 2nd St. #405 (3/2) 5,361 sqft – $2,200,000 (OAK) [Phoenix405] [Caldecott]
Posted by socketadmin at 4:06 PM | Permalink | Comments (39) | (email story)
March 12, 2008
Holy Architecture And Full-Floor Condominiums In Oakland Batman!
It’s across the bay, but we do love the building. Built in 1913 and designed by Benjamin Geer McDougall, the 14-story Oakland Federal Building is a shining example of the Gothic Revival movement.
Renamed the Cathedral Building in 1969, the building is now going condo with the first six floors commercial and the top eight full-floor residences with prices ranging from $895,000 for the 1,476 square foot 11th floor to $1,300,000 for the 2,016 square foot 14th.
And while the finishes are just okay, and there isn’t any parking, we're suckers for the skin deep beauty and bones. Now if only the ceilings we just a little bit higher...
∙ The Cathedral Building, 1615 Broadway, Oakland [cathedral-building.com]
Posted by socketadmin at 4:12 PM | Permalink | Comments (20) | (email story)
March 6, 2008
JustQuotes: Might It Draw Demand From Way Over In San Francisco?
"The developer of the recently opened Eight Orchids condominium mid-rise in Oakland hopes to auction off nearly a third of the units, with some starting bids $300,000 below prior asking prices, as builders struggle to unload new properties in the current housing climate."
"The auction of 41 units is scheduled for March 30....The minimum bid for one-bedrooms is $245,000, down from as high as $520,888; two-bedrooms will start at $325,000, down from as high as $630,888; and three-bedrooms will begin at $475,000, discounted from as much as $805,888. There is no "secret reserve," meaning any unit that receives at least the minimum offer will go to the bidder."
∙ Prices cut for Oakland condo auction [SFGate]
∙ 8 Orchids (Oakland) [8-orchids.com]
Posted by socketadmin at 10:00 AM | Permalink | Comments (38) | (email story)
October 22, 2007
JustQuotes: An East Bay Owner “Trades Up” And Becomes A Renter
“Scorching or icy, booming or busting, there's nothing like California's housing market for animated conversations - and, it turned out for us, unconventional decisions.” (Want a life of leisure? Be a renter)
Posted by socketadmin at 7:00 AM | Permalink | Comments (0) | (email story)
November 27, 2006
“The Epitome Of Gracious Green Living” (Oakland)
Okay, so it might be across the bay (Oakland Hills), but we’ve always had a thing for the integration of garage doors and living space. And we can’t help but feature a property that’s (self) described as “the epitome of gracious green living.” (Designed by Sallie Lang of Bliss Building and developed by Green Lane Development.)
∙ Listing: 7257 Skyline, Oakland Hills (3/5) – $2,600,000 [residentphotography]
Posted by socketadmin at 8:15 AM | Permalink | Comments (22) | (email story)
