CATEGORY ARCHIVE: San Jose (And South)
October 23, 2009
Former Thirteen Million Dollar Mansions And New Comps To The South
While a plugged-in reader reports that 200 Manzanita down in Woodside "that sold for $13.8mm back in 2000 just sold for $8mm (after trying to get more than they paid and following the market down for three years)," according to the Chronicle the key witness in the Galleon investigation sold "her $13 million Atherton mansion" for $9.4 million in May.
UPDATE: We can’t confirm, but another plugged-in reader believes the 2009 sale price for 200 Manzanita was actually even less:
I believe that the more recent sale price (contract executed in August, with the sale having closed in September of 2009) was $5.62 million, not $8.0 million.
If so, call it a 59% drop in value over the past nine years for the Woodside mansion. If not, it’s only 42%. And perhaps Kahn did okay.
∙ Trying To Tell It Like It Is For 114 Crescent Avenue In Bernal Heights [SocketSite]
∙ Listing: 200 Manzanita, Woodside [tomdallas.com]
∙ More players emerge in Galleon Group scandal [SFGate]
Posted by socketadmin at 6:00 AM | Permalink | Comments (9) | (email story)
July 1, 2009
Park Terrace Developer (Opus West) To File For Bankruptcy
Opus East and West (which developed Park Terrace at 325 Berry in Mission Bay) will file for federal bankruptcy protection, with Opus East expected to go the chapter 7 route while Opus West is expected to reorganize under chapter 11.
Opus West has been active in the Bay Area, developing 75 acres of the 120-acre Sierra Point office campus in Brisbane in the late 1990s. In 2007, Opus West announced plans to build more office space in Brisbane — a 448,000-square-foot, $225 million office complex at 3000 Marina Blvd. — but the economy soured and the developer never went forward with the project.
Opus North and Northeast are expected to continue as-is. No word on how the Opus West filing will impact (if at all) any future Park Terrace claims.
∙ Opus East, West to file for bankruptcy [Business Times]
∙ Opus Center Sierra Point (Brisbane) [opuscentersierrapoint.com]
∙ New Developments: Park Terrace (325 Berry) [SocketSite]
Posted by socketadmin at 5:00 PM | Permalink | Comments (45) | (email story)
June 30, 2009
Is "G" Wondering What The "F" As Well?
It’s a bit to the South but we’ve looked at it before. Purchased for $2,500,000 in November of 2005 and boasting $750,000 in upgrades since, "G’s" 356 Santana Row #306 down in San Jose returned to the market in April of 2008 asking $4,000,000.
Reduced a number of times before being withdrawn in December, it’s a plugged-in reader that notices it’s been back on the market for 22 days asking $2,999,999.
∙ Listing: 356 Santana Row #306 (4/4) 3,856 sqft - $2,999,999 [306villacornet.com]
∙ Infinity Penthouse Unit 37B: Before And After (And The Budget) [SocketSite]
Posted by socketadmin at 11:45 AM | Permalink | Comments (34) | (email story)
June 3, 2009
First And Goal For The San Francisco Santa Clara 49ers Stadium
Santa Clara City Council members approved a financial plan to move the 49ers south last night (or rather early this morning). Up next, a vote by the residents next spring.
∙ Santa Clara approves 49ers stadium plan [San Franciso Examiner]
∙ JustQuotes: Five Years From A 49ers Free San Francisco? [SocketSite]
∙ San Francisco 49ers Proposal for a Football Stadium in Santa Clara [santaclaraca.gov]
Posted by socketadmin at 9:00 AM | Permalink | Comments (13) | (email story)
May 19, 2009
JustQuotes: Five Years From A 49ers Free San Francisco?
"Santa Clara officials are expected to finalize a proposal with the San Francisco 49ers as early as today to build a 68,500-seat stadium in the South Bay city, in part with millions of dollars in public redevelopment money.
The deal lays out a funding plan to move the five-time Super Bowl champions into a new game-day home 37 miles from San Francisco in time for the 2014 NFL season, those involved in the negotiations said."
∙ Santa Clara-49ers stadium deal could come today [SFGate]
Posted by socketadmin at 6:00 AM | Permalink | Comments (20) | (email story)
May 14, 2009
It’s Déjà Vu All Over Again For The Cow Palace
A year ago state Senator Leland Yee threw in the towel on his proposal to sell the state-owned Cow Palace for development and instead settled for "a compromise plan" to sell an adjoining overflow parking lot.
Last October Governor Schwarzenegger vetoed the bill that would have enabled said compromise plan. But in light of Califonia's growing fiscal crisis, The Governor has now adopted the Senator's original proposal (to sell the Cow Palace) as his own.
∙ Much Ado Over Nothing (Except An Overflow Cow Palace Parking Lot) [SocketSite]
∙ How’s This For Compromise: No (Cow Palace Bill Vetoed) [SocketSite]
∙ Cow Palace could be on the state chopping block [Examiner]
Posted by socketadmin at 8:15 AM | Permalink | Comments (22) | (email story)
April 30, 2009
Peninsula Residents Aim To Slow Down High-Speed Development
Menlo Park and Atherton are plaintiffs, and Palo Alto is backing the lawsuit that objects to the proposed routing of high-speed rail through the Peninsula. The best case scenario for high-speed rail to San Francisco if the lawsuit is successful, a two to three year delay.
∙ High-speed rail opposition picks up speed [San Francisco Examiner]
∙ While San Francisco Might Get High-Speed Rail, Will The Transbay? [SocketSite]
Posted by socketadmin at 8:00 AM | Permalink | Comments (75) | (email story)
November 18, 2008
We'll Connect The Comments, You Connect The Dots (And History)
From a comment this afternoon:
I remember Palo Alto holding up well (in nominal terms) [from 1990 to 1992] and I trust the best parts of SF did too.
But from a plugged-in reader last week:
A friend of my Dad was just reminding us that he bought a couple Palo Alto REOs in 1994 for about half of what they sold for in 1989…
We'll connect the comments. You connect the dots (and history).
∙ Once Again, It's Just Getting Starting (And It's Going To Last Longer) [SocketSite]
∙ A Plugged-In Reader Picks An Apple For Himself (1968 Greenwich) [SocketSite]
Posted by socketadmin at 12:30 PM | Permalink | Comments (23) | (email story)
October 2, 2008
How’s This For Compromise: No (Cow Palace Bill Vetoed)
In April state Senator Leland Yee gave up on trying to sell the state-owned Cow Palace for development and instead settled for “a compromise plan” that would have allowed an adjoining overflow parking lot (above) to be sold to Daly City and developed.
On Tuesday the governor vetoed the bill that would have allowed the sale. The palace’s Board of Directors now plan to lease the state's land to a developer instead.
∙ Much Ado Over Nothing (Except An Overflow Cow Palace Parking Lot) [SocketSite]
∙ Bill allowing Cow Palace parking lot sale vetoed [San Francisco Examiner]
Posted by socketadmin at 8:00 AM | Permalink | Comments (5) | (email story)
August 1, 2008
Oh Jeeze, Here We Go Again (356 Santana Row #306 In San Jose)
Having hit the market two months ago for $4,000,000 and boasting $750,000 in upgrades, the asking price for 356 Santana Row #306 was quickly dropped to $3,500,000 after two weeks, and two days ago was dropped to $3,300,000.
And while Santana Row isn’t in San Francisco, it’s a plugged-in tipster that notes its “oh jeeze” San Francisco ties. Or should we say, oh “G’s”...
∙ Listing: 356 Santana Row #306 (4/4) 3,856 sqft - $3,300,000 [306villacornet.com]
∙ Infinity Penthouse Unit 37B: Before And After (And The Budget) [SocketSite]
Posted by socketadmin at 3:30 PM | Permalink | Comments (34) | (email story)
July 30, 2008
A Less Than Smooth Closing Of Their Own: Financial Title Shuts Down
According to a plugged-in tipster, Financial Title received a cease and desist order courtesy of the Insurance Commissioner a few hours ago. And while escrows were to be transferred to other title companies for closing, apparently some files have been confiscated which is making it difficult for some parties (like our tipster's client) to locate their funds.
UPDATE: Following in the footsteps of sister company Alliance Title, Financial Title which was the largest real-estate title agent in Silicon Valley and has four offices in San Francisco has officially closed its doors.
Sources who have spoken to Financial Title employees said the title company began closing its doors in Santa Clara County Tuesday night. Those sources said all employees have lost their jobs, and Financial's underwriter, First American Title Co., has been collecting open escrow files at the closed offices.
No update on the Insurance Commissioner angle, the "confiscation" (versus collecting) of files, or the irony of misplaced escrowed funds. Tipsters?
∙ Tag Line Irony From Alliance Title: “Closing The California Dream” [SocketSite]
∙ Financial Title company shuts down [Business Times]
Posted by socketadmin at 11:56 AM | Permalink | Comments (22) | (email story)
July 2, 2008
Can You Really Eat Your Eco-Cake And Have It Too?
From a reader yesterday (in response to an interesting comment from a car-less couple happily inhabiting a 470 square foot studio in the city):
i'm sick of people flaunting their eco credentials when they have two Prius's (or would that be Prii?) sitting in the driveway of their 2000+ sq ft house while they eat steak and foie gras at the latest hot restaurant living in a small studio space is not for everyone, but doing so, without a car, is the definition of sustainability.
i happen to drive a car to work that is not a hybrid, and i have too many sq ft for my family size, but I have not nor will i ever present myself as living an ecologically friendly lifestyle.
And ironically, from the Chronicle today:
From the looks of their new, contemporary-on-the-outside, luxe-on-the-inside, 6,000-square-foot Hillsborough home and from the smiles on their faces, the Rubensteins' effort to make the greenest selection at every step of the building process seems to have yielded a harmonious synergy of livability, luxury and environmental responsibility.
∙ A glam, glitzy and green Hillsborough mansion [SFGate]
∙ Mini Meltdown At The Metropolitan? (333 1st Street #N1906) [SocketSite]
Posted by socketadmin at 12:00 PM | Permalink | Comments (55) | (email story)
May 16, 2008
An Updated Palo Alto Eichler Sure To Give Hardcore Purists A Fit
It’s a bit to the south of San Francisco (Palo Alto), and the hardcore Eichler purists are sure to have a fit ("OMG! They used stainless steel and slate!").
But we’re fans of the "modernized" 443 Ferne. In a rather big way.
∙ 443 Ferne: Floor Plan and Photos [mac.com]
∙ Listing: 443 Ferne, Palo Alto (4/2) - $1,849,000 [Nil Erdal]
Posted by socketadmin at 10:30 AM | Permalink | Comments (15) | (email story)
March 5, 2008
JustQuotes: Talk About Terrible Timing (And Why He's A Former)
"Merrill Lynch & Co. will eliminate 650 jobs and record a $60 million charge as it stops making new home loans through First Franklin Financial, the subprime lender that former Chief Executive Officer Stan O'Neal bought in 2006.
Most of the job cuts at San Jose, California-based First Franklin will take place this month, Merrill spokesman Bill Halldin said. About 80 employees will remain at the unit to handle activities related to First Franklin's past loans, he said. Merrill announced the cuts and the charge in a statement today."
∙ Merrill Exits Subprime Lending, Cuts 650 Jobs at First Franklin [Bloomberg]
Posted by socketadmin at 1:30 PM | Permalink | Comments (9) | (email story)
November 20, 2007
An Annoying Anecdote Or An Actual Alternative To San Francisco?
"Ten days ago, Derek Allen donned a hard hat and walked through the newly opened models at Axis, San Jose's newest condominium tower under construction in downtown. What he saw persuaded him not to buy a condo on San Francisco's Rincon Hill, but instead put a $5,000 deposit down on a 19th-floor unit at the Axis, located on Almaden Boulevard next to the De Anza Hotel."
∙ Downtown S.J. welcomes high rise living [San Jose Mercury News]
∙ If This Is Old News (And You Know Even More), Then Drop Us A Line [SocketSite]
Posted by socketadmin at 7:20 AM | Permalink | Comments (59) | (email story)
November 8, 2007
If This Is Old News (And You Know Even More), Then Drop Us A Line
One: while the 22-story "Axis" in downtown San Jose (38 Almaden Boulevard) will officially open its sales and presentation center to the public this weekend (November 10th), they will not start taking reservations/deposits until late January 2008 (with priority given to those pre-registered/qualified).
The 329 condos will range from around 655 (studio) to 1,863 (three bedroom penthouse) square feet and will be priced “from the $400,000s to more than $2 million.” Initial closings and occupancy staring in May (2008). And yes, floor plans are available online.
And two: speaking of San Jose, we still need a couple of outstanding editors to champion our Silicon Valley coverage. So drop us a note (tips@socketsite.com) if you’re plugged-in, analytic, and articulate.
∙ Axis San Jose (38 Almaden Boulevard) [axissanjose.com]
∙ SocketSite Silicon Valley Coverage Coming Soon (sv.SocketSite.com) [SocketSite]
Posted by socketadmin at 4:37 PM | Permalink | Comments (20) | (email story)
June 18, 2007
SocketSite Silicon Valley Coverage Coming Soon (sv.SocketSite.com)
As you might have guessed, last week in San Jose we announced a dedicated Silicon Valley site (sv.socketsite.com) that’s still under construction (but coming soon).
∙ A Silicon Valley Gathering Of Plugged-In People (June 14, 2007) [SocketSite]
Posted by socketadmin at 3:00 AM | Permalink | (email story)
June 13, 2007
Special Guests Confirmed: We’ll See You Tomorrow (6/14/07) In SJC
The special guests are confirmed for Thursday’s gathering of "plugged-in" people in San Jose. So please consider joining us, San Jose Mayor Chuck Reed, Vice Mayor David D. Cortese, Councilmember Sam Liccardo, San Jose Redevelopment Agency Deputy Director John Weis, Mesa Development Director Charles Young and a host of other readers as we delve into the residential real estate renaissance of downtown San Jose.
∙ A Silicon Valley Gathering Of Plugged-In People (June 14, 2007) [SocketSite]
Posted by socketadmin at 11:00 AM | Permalink | (email story)
June 8, 2007
Weekend Reminders: SocketSite Survey And San Jose Gathering
1. Two days left to take the SocketSite reader survey (which ends Sunday at 5).
2. Thirty (or so) spots left for our San Jose gathering (next Thursday at 6).
Posted by socketadmin at 6:00 PM | Permalink | (email story)
June 6, 2007
A Silicon Valley Gathering Of Plugged-In People (June 14, 2007)
If you’re interested in (or located around) San Jose, we hoped you saved the date, as next Thursday (June 14) we’re holding a gathering for plugged-in people in Silicon Valley. The topic: the development and renaissance of downtown San Jose (San Jose 2.0 if you will).
We’ll be moderating a panel discussion and Q&A (which will include the San Jose Redevelopment Agency, Mesa Development, and a potential special guest or two); Three Sixty Residences will be providing the venue (as well as drinks and snacks); and you’re invited (to get the scoop on all the new developments and network with other “plugged-in” people). And yes, we’ll be making a little announcement as well.
The gathering will be held from 6:00-7:30pm at Three Sixty Residences' Sales and Marketing center in San Jose (170 South Market, Suite 120 in the Fairmont Annex). No, this isn't going to be a sales pitch. And yes, attendance will be limited to the first 75 people to sign up at http://socketsite.wikispaces.com/SVGathering061407.
Please feel free to forward this to anyone who you think might be looking for the scoop on San Jose. And as always, thank you for plugging in.
∙ A Hint Of Things To Come: Three Sixty Residences (And San Jose) [SocketSite]
Posted by socketadmin at 3:15 PM | Permalink | (email story)
May 30, 2007
A Hint Of Things To Come: Three Sixty Residences (And San Jose)
First and foremost, this new development isn’t in San Francisco, it’s in San Jose. And while we historically haven’t ventured that far south, we’re about to start logging some miles (more on this next week).
That being said, Three Sixty Residences in downtown San Jose opened its One Rincon-esque sales office featuring “a full-size model of a two-bedroom-plus-den, two-and-a-half-bathroom home” and touch screens (although no word on a signature cocktail) three weeks ago. By the numbers: 1/2/3 bedroom condos; 23 Stories; 213 units (ranging in size from 795 to 3440 square feet, and ranging in price from “the low $500,000’s to over $2 million”); 2009 (spring) delivery; and 11,000 square feet of retail. Oh, and around 120 (60%) reserved (albeit $5,000 refundable deposits) to date.
A couple of other numbers: 6/14/07. As in save the date if you’re either in (or interested in) the San Jose market.
∙ Three Sixty Residences (San Jose) [360residences.com]
Posted by socketadmin at 3:45 AM | Permalink | Comments (6) | (email story)
