CATEGORY ARCHIVE: San Jose (And South)

April 18, 2014

With Easter Egg Hunts And Putt-ering In Mind: A Woodside Estate

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If you've come to the realization that your annual Easter egg hunt is about to outgrow your backyard and you're looking for a "little" more space or retreat, perhaps you'd be interested in perusing (or putt-ering around) 437 Whiskey Hill Road.

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The seven-acre Woodside estate was first listed for sale at $17,500,000 in 2011. Reduced to $15,995,000 in 2012 and then to $14,800,000 in 2013, the property was withdrawn from the MLS this past August. And the property was just relisted for $15,900,000.

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If the main residence is enough for you, we'd be happy to take one of the two cottages off your hands for weekend use. But we are going to want a pass for the pool as well.

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∙ Listing: 437 Whisky Hill Road, Woodside (6/5.5) - $15,900,000 [sothebyshomes.com]

Posted by socketadmin at 1:15 PM | Permalink | Comments (1) | (email story)

April 16, 2014

Bay Area Home Sales Slow, Except In San Francisco

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While Bay Area home sales were down 12.9 percent on a year-over-year basis last month, the slowest March in terms of sales volume since 2008, recorded home sales were up 8.2 percent on a year-over-year basis in San Francisco as contracts in a number of new condo buildings started to close (see last paragraph below).

That being said, sales volume in San Francisco has increased an average of 41.1 percent from February to March over the past decade and last month's gain represented a sub-par seasonal increase of 19.3 percent versus the month before.

The median price paid for a property in San Francisco was $937,500 in March, down 0.8 percent from a record $945,000 in February but 14.6 percent higher year-over-year, driven in part by an increase in the mix of higher priced home sales. As always, keep in mind that while movements in the median sale price are a great measure of what's in demand and selling, they're not a great measure of actual appreciation despite what the headlines might say.

Having peaked at $665,000 in July of 2007, the median sale price for a home in the Bay Area increased 7.2 percent to $579,000 in March, up 23.2% year-over-year and the highest median price since December of 2007. The median price had fallen to $290,000 in March of 2009.

With San Francisco the only Bay Area county to have recorded a gain, Napa recorded the second best outcome with respect to sales, dropping 8.5 percent year-over-year. Sales in Solano County were down 28.3 percent in March, the greatest Bay Area decline. The median in Solano was up 30.4 percent to $300,000 in March, the greatest Bay Area percentage gain. The median in San Mateo County was up 13.5 percent to $767,000, the smallest Bay Area gain.

As always, keep in mind that DataQuick reports recorded sales which not only includes activity in new developments, but contracts that were signed ("sold") months prior but are just now closing escrow (or being recorded) and any properties that were sold "off market."

Posted by socketadmin at 12:15 PM | Permalink | Comments (5) | (email story)

March 20, 2014

Massive 31-Acre Tech Campus In San Jose Approved, But For Whom?

A ten-building tech campus with over 2 million square feet of office space and room for 10,000 employees has been approved to rise on a 31-acre parcel in North San Jose, bordering Highway 101 along Brokaw Road, a half mile from the San Jose airport.

While developer Peery-Arrillaga says a tenant has already committed to leasing the entire campus, and San Jose Mayor Chuck Reed says he knows who, neither have identified the company other than to confirm it's "in the tech sector."

With "no City Council or even planning commission hearings, as it required no zoning changes or other major municipal approvals," the entire approval process for the campus was completed in an enviable six months and construction is slated to begin this year.

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Mystery tech company set for San Jose's biggest-ever office project [mercurynews.com]

Posted by socketadmin at 10:30 AM | Permalink | Comments (34) | (email story)

February 27, 2014

Google Owns Over 10% Of Mountain View And Plans To Expand

Including 42 acres upon which Google has proposed to build a 1.2 million square foot Bay View campus (click to enlarge), Google now controls 250 parcels in Mountain View and owns over ten percent of the city’s taxable property, all of which The Verge has mapped.

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Google's stated plans for developing nearly four million square feet in Mountain View would provide enough space for an estimated 24,000 people, double its current workforce. And all of which raises some great questions and concerns.

Welcome to Googletown | Interactive Map Of Google's Land [The Verge/Google]

Posted by socketadmin at 12:15 PM | Permalink | Comments (39) | (email story)

February 11, 2014

Silicon Valley's Biggest Tech Campuses As Self-Contained Cities

The premise: With tech workers flocking to San Francisco seeking the urban environment that Silicon Valley lacks, what might it look like if a few of the largest tech campuses south of San Francisco replaced their parking lots and select open spaces with enough high-density housing to support all their employees?

The Tech Campus Housing Study by First Cultural Industries seeks to answer that question with sketchups for four conceptual campuses, including "iTown" with 13,000 apartments for Apple's workforce in Cupertino and "Facebook City" with 9,400 apartments in Menlo Park.

Other sketchups include designs for 10,000 apartments on Google’s campus in Mountain View and 3,000 apartments for Electronic Arts in Redwood City.

Tech Campus Housing Studies: iTown | Facebook City | Googleplex | EA [FCI]
Imagining Silicon Valley Parking Lots as Corporate Housing [Planetizen]

Posted by socketadmin at 9:30 AM | Permalink | Comments (60) | (email story)

January 31, 2014

Bay Area Million Dollar Homes Sales Jump, East Bay Jumps The Most

The number of California homes that sold for a million dollars or more rose to 39,175 last year, the highest level since 2007 when the number totaled 42,505, but 28 percent fewer than the all-time high of 54,773 in 2005. A quarter of the sales were all-cash transactions.

In the Bay Area, home sales over the million dollar mark were up 40.6 percent from the year before and the most since 2007, up 29 percent in Santa Clara to 4,806; up 34 percent in San Francisco to 2,483; up 39 percent in San Mateo to 2,815; up 63 percent in Contra Costa to 9,130; and up 70 percent in Alameda to 1,721.

The number of Bay Area homes which traded for over two million dollars totaled 2,604 in 2013, up 28 percent from 2012 and an all-time high.

Posted by socketadmin at 10:00 AM | Permalink | Comments (0) | (email story)

November 25, 2013

Bay Area Commercial Boom: San Francisco Second To Santa Clara

Spending on commercial real estate construction activity around the Bay Area this year is expected to top the record $6 billion mark set in 2000 and could reach as high as $6.7 billion by the end of 2013.

The Bay Area County with the most commercial construction activity is currently Santa Clara County which should cross the $2.1 billion mark by the end of the year, a total which doesn’t include the $1.3 billion Levi's Stadium project for the San Francisco 49ers.

Behind Santa Clara, San Francisco County should just miss the $2 billion mark which would be higher than in 2011 and 2012 but below the spending in 2010.

And at a projected $765 million in 2013, spending on commercial real estate construction in San Mateo County should be six times the amount in 2012 while the projected $681 million to be spent across Alameda and Contra Costa Counties in 2013 would be the lowest in five years.

Posted by socketadmin at 9:15 AM | Permalink | Comments (3) | (email story)

October 30, 2013

Bay Area Rents Climb, East Bay Jumps 10 Percent In 3 Months

While the vacancy rate for apartments throughout the Bay Area has ticked up from 3.1 to 3.9 percent, according to Cassidy Turley the average rent has ticked up from $1,851 to $1,897 a month, two percent below its first quarter peak of $1,941.

The average rent in San Francisco is now $3,266 a month, up 3 percent over the past three months and 18 percent higher year-over-year. The average studio in San Francisco now rents for $2,434 and one-bedrooms for $2,980. The vacancy rate in San Francisco is currently 3.6 percent, up from 3.3 percent in the second quarter of 2013.

The average East Bay rent jumped 10 percent in the third quarter and now averages $1,681 a month with studios renting for $1,268. The average rent is up to $1,674 in the North Bay.

And while the vacancy rate has increased from 3.1 to 4.6 percent in San Mateo, the average rent has ticked back up to $2,148 per month, even year-over-year. Studios in San Mateo now rent for an average of $1,446 a month and apparently a number of new projects on the Peninsula won't even consider prospective tenants that earn less than $75,000 per year.

Over the past two years, the average rent in San Mateo has increased by 15 percent, it's up by 17 percent in the East Bay and it's up by 27 percent in San Francisco.

Posted by socketadmin at 4:15 PM | Permalink | Comments (4) | (email story)

October 23, 2013

What Would You Do With 57 Acres 20 Minutes From SF And SFO?

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A twenty minute drive south from the heart of San Francisco and twenty minutes from SFO, a 57-acre parcel overlooking the Pacific Ocean in Pacifica is on the market with a "suggested offering price" of $6 million and offers due by November 15.

The marketing notes an "opportunity for future development of residential community with ocean views or use as a private estate," or perhaps a commune for startups? The marketing also notes a "potential tax credit for conservation easement of $14M available this year."

If you pick it up, don't forget to tip your dealers and feel free to throw an acre or two our way.

Posted by socketadmin at 8:45 AM | Permalink | Comments (16) | (email story)

October 17, 2013

Silicon Valley Rents Remain Up But Pressure Is Building

The average monthly rent for an apartment in a complex with 50 or more units in Santa Clara County remains up 8.1 percent year-over-year with rents in San Jose averaging $2,105 a month, up $26 in the third quarter.

With a backlog of new developments hitting the market in Silicon Valley, however, the occupancy rate in Santa Clara has dropped 1 percentage point year-over-year to 94.4 percent and the occupancy rate in San Jose has dropped to 93.4 percent, down 2.1 points which should put some downward pressure on rents over the next quarter.

Silicon Valley's red-hot rental market shows signs of cooling [Business Times]

Posted by socketadmin at 11:45 AM | Permalink | Comments (0) | (email story)

October 16, 2013

Apple's iCon-ic Campus 2 Approved By Cupertino's City Council

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The Cupertino City Council has unanimously approved Apple's plans for the 175-acre Apple Campus 2, at the center of which the circular 2.8-million square foot "iCon" building designed by Foster + Partners will rise.

Having already been endorsed by Cupertino’s Planning Commission, the former Hewlett Packard (HP) campus site is slated to start getting cleared by the end of the year and the project is on track to be finished by the end of 2016.

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The four story headquarters will house up to 12,000 employees with space for another 2,200 employees in other buildings east of Tantau, 34 percent of which Apple has vowed will either use public transportation or Apple's buses for their commute.

The new campus will have 10,980 parking spaces, including 2,385 existing underground spaces and an above ground parking garage for 5,870 cars adjacent to I-280.

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Posted by socketadmin at 8:00 AM | Permalink | Comments (32) | (email story)

August 6, 2013

San Francisco Tops Silicon Valley In VC Investment

Two great maps (click to enlarge) and top ten lists from the Atlantic Cities (Why San Francisco May Be the New Silicon Valley) with respect to where the venture dollars are flowing and the deals are getting done across the Bay Area.

The city of San Francisco is the leader with $4.39 billion in venture capital investment, roughly a third of the Bay Area total. This is by far the largest amount of venture investment of any jurisdiction in the region, and a whopping 16 percent of total venture investment nationally. Palo Alto is a distant second with $1.29 billion (4.8 percent of the national total), followed by Redwood City ($1.06 billion), Mountain View ($918 million), Sunnyvale ($800 million), Santa Clara ($733 million), and San Jose ($688 million).
Investment has also begun to spread up and down the Peninsula, filling in the cities that stretch between San Jose and San Francisco proper. And, within the Bay Area broadly, according to these zip code level data, the San Francisco metro attracted nearly 70 percent more venture capital ($8.5 billion) than the Silicon Valley region ($5 billion).

The top ten zip codes into which the venture dollars flowed in 2011, with San Francisco's 94107 (Potrero Hill, South Beach, South Park) atop the list:

1. 94107 (Potrero Hill, South Beach, South Park) San Francisco - $1,885.8M
2. 94105 (Rincon Hill, Embarcadero South) San Francisco - $693M
3. 94043 (Suburban Mountain View, including Google headquarters) Mountain View - $660.5M
4. 94063 (Centennial, Stambaugh Heller, Redwood Village, Friendly Acres) Redwood City -$575.2M
5. 94103 (South of Market) San Francisco - $554.6M
6. 95054 (Suburban Santa Clara, north) Santa Clara - $548.3M
7. 94065 (Redwood Shores) Redwood City - $433.5M
8. 94301 (Crescent Park, University South, Old Palo Alto) Palo Alto - $412.7M
9. 94085 (North-central Sunnyvale) Sunnyvale - $389.7M
10. 94089 (North Sunnyvale, including Lakewood, Lockheed Martin HQ) Sunnyvale - $378.2M

The Bay Area attracted $13.5 billion in venture investment in 2011, "more than four times that of greater Boston or greater New York, the nation's second and third largest centers for venture capital investment." Have we mentioned that the number of employed in San Francisco has grown by 47,800 since the beginning of 2010 and is closing in on a December 2000 dot-com peak?

Why San Francisco May Be the New Silicon Valley [theatlanticcities.com]
SF Employment Slips In June To 10,000 Workers Below Peak [SocketSite]

Posted by socketadmin at 12:45 PM | Permalink | Comments (31) | (email story)

July 30, 2013

San Francisco Rents Climb In Second Quarter, Cross $2K In Oakland

Having ticked up a few dollars from $2,741 in the fourth quarter of 2012 to $2,790 in the first quarter of 2013, the average apartment rent in San Francisco jumped 5.8 percent to $2,952 in the second quarter, up 8 percent year-over-year according to RealFacts.

Over in Oakland, the average monthly rent is up 10.8 percent year-over-year to $2,033 per month while down in San Jose it's now $1,989, up 9.9 percent on a year-over-year basis.

Keep in mind that RealFacts’ figures are based on surveys of professionally managed apartment complexes with 50 or more units (which aren't necessarily the norm in San Francisco) and reflect asking rather than effective rents after incentives.

San Francisco Rents Reverse Fourth Quarter Dip, Jump In Oakland [SocketSite]

Posted by socketadmin at 6:00 AM | Permalink | Comments (13) | (email story)

July 17, 2013

Is Caltrain At Risk Of Being Derailed Next Year?

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Speaking of public transportation needed to support the projected growth in Bay Area population and employment over the next 30 years, Caltrain ridership is at an all-time high and some rush hour trains are standing room only.

At the same time, while revenue from riders is also at an all-time high and the electrification of Caltrain is expected to substantially reduce operating costs starting in 2019, ridership revenue only covers half of Caltrain's current operating budget and the "one-time" source of funds from Caltrain's three operating partners (SamTrans, the Santa Clara VTA, and the San Francisco Municipal Transportation Agency) is set to run out at the end of the 2013 fiscal year.

Next week, SamTrans will ask San Mateo's Supervisors for a share of the sales tax increase approved by San Mateo voters last November, funds which could be used to help fund Caltrain, a ballot measure is being considered in San Francisco.

Bay Area Plan To Support 2 Million More People Up For Vote [SocketSite]
Electrifying Mission Bay And Transbay Transit Center News [SocketSite]

Posted by socketadmin at 2:00 PM | Permalink | Comments (31) | (email story)

Bay Area Plan To Support 2 Million More People Up For Vote

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The Bay Area transportation, land-use and housing plan which is based on an expected increase in Bay Area population from roughly 7 million to 9 million people over the next 30 years is up for adoption by the Association of Bay Area Governments and Metropolitan Transportation Commission tomorrow evening.

In order to support another 2 million Bay Area residents by 2040, Plan Bay Area calls for 660,000 new housing units to be built around the Bay. And with the population of San Francisco projected to hit nearly 1.1 million, adding over 200,000 new residents and 190,000 new jobs, the plan calls for 92,480 new housing units in San Francisco alone, double San Francisco’s current housing pipeline.

Atop the table for new Bay Area housing to be built, the plan calls for 129,280 new housing units in San Jose and 51,450 new units in Oakland. The greatest percentage growth is forecast for Milpitas with 12,620 new housing units, an increase of over 60 percent.

And atop the table of projects to support the Bay Area's growth in population and employment, the $8 billion extension of BART to Fremont, Santa Clara, and San Jose.

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Posted by socketadmin at 10:00 AM | Permalink | Comments (23) | (email story)

June 24, 2013

San Francisco Set To Sell Six City-Owned Acres For Development, Down In Mountain View

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Since 2002, the City of San Francisco has been trying to sell six undeveloped acres of land down in the middle of Mountain View.

Owned by the San Francisco Public Utilities Commission (SFPUC), two water lines from the Hetch-Hetchy reservoir to San Francisco run beneath the parcel at 450 North Whisman Road.

In 2005, the City of San Francisco entered into an option agreement to sell the parcel to developer KMJ Urban Communities (KMJ) for $8,100,000 with an easement to allow the SFPUC to service its water lines. And by 2007, a proposal to build a 69-unit development of rowhouses upon the 6.4 acre site had been proposed.

Facing neighboring opposition ("the proposed rowhouse development would undermine our neighborhoods identity and spirt, eroding the cooperation and mutual concern that now thrives here, and in time could destroy the sense of community that exists in out neighborhood") and pushback from the City of Mountain View, the option agreement between KMJ and the City of San Francisco expired in 2011.

This afternoon, the sale agreement is slated to be revived without any adjustment in the sale price and with KMJ planning to immediately develop a 3.59 acre portion of the site which would be consistent with the City of Mountain View’s General Plan, circumventing additional environmental review and pushback from the City.

Posted by socketadmin at 8:45 AM | Permalink | Comments (10) | (email story)

May 24, 2013

Memorial Day Mansion Sale: Morgan Estate Reduced To $27 Million

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When the list price for Kelly Porter’s 30,000 square foot renovated Tudor mansion in Los Altos Hills was reduced from $45 million to $38 million at the end of 2008, the venture capitalist commented: "It’s worth every bit of $45 million, and I reduced it reluctantly."

Having been withdrawn from the market without a sale in 2010, 12335 Stonebrook Drive (a.k.a. "The Morgan Estate") has just been listed anew for $27,000,000.

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Sitting on nearly 8 acres with outbuildings and parking for over twenty cars, the property is listed on the Federal Historic Register and as such benefits from a rather low property tax rate. How low? In 2011, the property tax bill for the estate was $20,750.

Purchased for $3,000,000 in 1989, the renovation of the Morgan Estate spanned over seven years and included the rather spectacular wine cellar.

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Go grab a few bottles, it's time to barbeque.

∙ Listing: 12335 Stonebrook Drive, Los Altos (7/8) 30,000 sqft - $27,000,000 [Sotheby’s]

Posted by socketadmin at 4:15 PM | Permalink | Comments (22) | (email story)

May 22, 2013

Atherton Auction: Is There A Bidder In The House?

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While advertised as an "AUCTION," as the listing for 96 Heather Drive down in Atherton notes, it’s a bankruptcy sale and the court may sell the property at any price and prior to the "auction" which is currently scheduled for June 8 with an opening bid of $7,100,000.

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Constructed in 2005 on just under an acre of land in Lindenwood, the 14,704 square foot "Tuscan Estate" is outfitted with eight (8) bedrooms; eight (8) full baths and four (4) halfs; a ten (10) car garage; and a salt water pool with courtyard and cabana:

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For what it's worth, apparently the driveway stones were once ballast on ships coming to San Francisco. And from an industry flyer for the house: "Bring a Buyer and Earn [a] Fast Commission." Hmm...are there any bidders in the house?

∙ Listing: 96 Heather Drive (8/10) 14,704 sqft - $7,100,000 [via Redfin]

Posted by socketadmin at 9:00 AM | Permalink | Comments (12) | (email story)

May 21, 2013

Bay Area Scores Super Bowl 50: Levi's Stadium Will Host In 2016

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With the San Francisco 49ers’ new stadium in Santa Clara set to open next year, the NFL has selected Levi's Stadium to host Super Bowl 50 in 2016, the first Bay Area Super Bowl since Stanford Stadium hosted the championship game which the 49ers won in 1985.

San Francisco will host pre-game activities, including the NFL Experience, an interactive pro football theme park which will be held at Moscone Center the week before the Bowl.

Santa Clara Approves 49ers Stadium Contract And Plans For 2014 [SocketSite]

Posted by socketadmin at 12:15 PM | Permalink | Comments (45) | (email story)

March 28, 2013

Facebook’s Proposed West Campus Liked By Menlo’s City Council

Facebook Campus Sites

Menlo Park's City Council has approved the construction of Facebook’s proposed 22-acre West Campus with one big 433,555-square-foot building designed by Frank Gehry to be built on Constitution Drive across the street from Facebook's existing East Campus.

Rising up to 73 feet in height but averaging closer to 45, the West Campus building will be built over ground-level parking with a rooftop park planted with 205 trees and a meadow:

Click the site plan above to enlarge, a section of which is modeled below.

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Facebook Campus Project - Project Plans [menlopark.org]
Frank Gehry Engaged To Design Facebook's Menlo Park Expansion [SocketSite]

Posted by socketadmin at 10:30 AM | Permalink | Comments (11) | (email story)

March 19, 2013

Wozland Returns

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While The Woz hasn't lived there for many years, and the property has since been remodeled, Steve Wozniak's onetime home at 300 Santa Rosa Drive down in Los Gatos is back on the market and listed for $4,395,000 having last sold for $3,100,000 in 2009.

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As some might recall, the 7,200 square foot "Wozland" had been listed for $7,950,000 at the end of 2005, was bought for $6,900,000 in March of 2006, and returned to the market a few months later for $20,000,000 following a quick restoration and maketing campagin.

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The property was unsuccessfully listed for sale for $5,000,000 a year ago as well, a price which was reduced to $4,500,000 this past July. The Woz sold for $4,750,000 in 2004.

∙ Listing: 300 Santa Rosa Drive, Los Gatos (6/7) 7,500 sqft - $4,395,000 [Sotheby's]
Ex-Wozland For Sale [SocketSite]

Posted by socketadmin at 10:00 AM | Permalink | Comments (3) | (email story)

February 22, 2013

NVIDIA Joins The Designer Campus Craze

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Following in the footsteps of Apple and Facebook, NVIDIA has announced plans for a new designer campus to be designed by architect Hao Ko, design director for Gensler’s San Francisco architecture studio, and to be built across the street from NVIDIA’s existing campus in Santa Clara.

The design harmonizes smart functionality and a shape that connects with and inspires our employees – a triangle, the fundamental building block of computer graphics. Efficient in every way, the design is thoughtful in its use of space, energy, and environment, and, of course, cost.

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Its vast open floors will facilitate our cross-functional work. The nature of building our products requires experts from multiple disciplines to come together, and this building is designed above all for collaboration.

Construction on the first half of the campus is slated to start in June with occupancy in 2015.

The "iCon" At The Center Of Apple’s Proposed Cupertino Campus 2 [SocketSite]
Frank Gehry Engaged To Design Facebook's Menlo Park Expansion [SocketSite]
NVIDIA To Build A New Home [nvidia.com]

Posted by socketadmin at 7:00 AM | Permalink | Comments (23) | (email story)

February 4, 2013

A Peek Inside And About A $100M Hillsborough Estate

de Guigne Mansion: Dining

A few photos from inside and about the 16,000 square foot de Guigne mansion and 48-acre Hillsborough estate have popped up on the Sotheby's website.

∙ Listing: Estate and Lands of de Guigne, Hillsborough - $100,000,0000 [sothebysrealty]
A Mansion And 48 Acres In Hillsborough For $100M And A Wait [SocketSite]

Posted by socketadmin at 8:00 AM | Permalink | Comments (3) | (email story)

February 1, 2013

A Mansion And 48 Acres In Hillsborough For $100M And A Wait

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The 16,000-square-foot mansion above was built in 1918 at the center of the 47.5-acre de Guigne estate down in Hillsborough, at the end of Glenbrook Drive.

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In 2002, testimony in a divorce case estimated the value of the estate at between $15 million and $30 million. And in 2009, a proposal by Christian de Guigne IV to subdivide his estate and build 25 new homes upon the property, versus 10 new homes which the town’s general plan would appear to principally allow, was floated but never came to fruition.

Mr. de Guigne has just put the property on the market for $100 million but doesn't plan to move, he plans to retain a life estate in the property, maintaining its exclusive use during his lifetime, a little like Lord Grantham. Mr. de Guigne is 75.

Full Disclosure: The listing agent for the de Guigne estate advertises on SocketSite but provided no compensation nor information for this post.

Posted by socketadmin at 12:45 PM | Permalink | Comments (10) | (email story)

January 24, 2013

Woodside Home Sells For $117.5M? Second Most Expensive US Sale?

While never publicly listed for sale, according to public records and SFLuxe, financier Tully Friedman's nine-acre Woodside estate at 360 Mountain Home Road sold for $117,500,000 this past November, a sale which would make it "the most expensive private residence in California, and the second-highest price paid for a home in the United States."

360 Mountain Home Road

In 2008, the adjacent 3.4 acre parcel at 330 Mountain Home Road (the brown patch to the right in the aerial above which has since been developed) sold for $5,500,000, suggesting a rather hefty premium for Friedman's estate, assuming the $117.5M sale price is correct.

The purported premium paying buyer has yet to be disclosed. Tipsters?

Woodside Home Sells for $117,500,000 [sfluxe.com]

Posted by socketadmin at 8:00 AM | Permalink | Comments (21) | (email story)

January 22, 2013

Have San Francisco Rents Hit A Real Wall?

Average apartment rents in San Francisco were relatively unchanged in the fourth quarter of 2012 while rents actually dropped 1.4 percent in the South Bay according to the latest RealFacts report.

Following a few years of double-digit annual growth, as plugged-in people knew expect, have San Francisco rents "hit a wall" as RealFacts purports?

Do keep in mind that RealFacts’ figures are based on surveys of professionally managed apartment complexes with 50 or more units (which aren't necessarily the norm in San Francisco) and reflect asking rather than effective rents after incentives.

Surprised By A Spike In San Francisco Rents? There's No Excuse. [SocketSite]

Posted by socketadmin at 10:45 AM | Permalink | Comments (45) | (email story)

August 24, 2012

Frank Gehry Engaged To Design Facebook's Menlo Park Expansion

While Apple has their iCon, Facebook has engaged the iconic Frank Gehry to design their Menlo Park campus expansion with plans to break ground in early 2013.

From Facebook's Environmental Design Manager, Everett Katigbak on the design:

It will be a large, one room building that somewhat resembles a warehouse. Just like we do now, everyone will sit out in the open with desks that can be quickly shuffled around as teams form and break apart around projects. There will be cafes and lots of micro-kitchens with snacks so that you never have to go hungry. And we’ll fill the building with break-away spaces with couches and whiteboards to make getting away from your desk easy.
We’ve paid just as much attention to the outside as well. The exterior takes into account the local architecture so that it fits in well with its surroundings. We’re planting a ton of trees on the grounds and more on the rooftop garden that spans the entire building. The raw, unfinished look of our buildings means we can construct them quickly and with a big emphasis on being eco-friendly. Of course, we’ll maintain our current campus and use an underground tunnel to connect the two.

The new building will house up to 2,800 engineers. Click the rendering above to enlarge.

The "iCon" At The Center Of Apple’s Proposed Cupertino Campus 2 [SocketSite]

Posted by socketadmin at 3:45 PM | Permalink | Comments (33) | (email story)

August 10, 2012

Bay Area Tops The Zip List For Million Dollar Home Sales In California

Top Zip Codes for Million Dollar Sales

In the second quarter of 2012, a total of 7,763 homes sold for a million dollars or more in California, up 18.5 percent from the second quarter of 2011. Ranked by total sales per zip code, Hillsborough/Burlingame (94010) sat atop the list with 134 million-dollar-plus sales in the second quarter, up from 118 last year, and with a top sale of $5.28 million.

Eleven other Bay Area zip codes made the top 25 in terms of sales. In fact, combining Los Altos zip codes 94022 and 94024 would top the list of California communities with 167 million dollar sales in the second quarter of 2012, up from 147 the year before and with a top sale of $6.15 million.

A combined 95030 and 95032 would rank Los Gatos third with 129 sales, up from 75 the year before and with a top sale of $4.66 million. The only San Francisco zip code to make the top 25 list was 94114, ranked number 19 with 65 sales last quarter, up from 50 in the second quarter of 2011 and with a top sale of $3.25 million which was 350 Hill Street.

The other Bay Area zip codes to make the top 25 list:

2. Saratoga (95070): 126 sales (up from 93) with a $5.35 million top sale
5. Cupertino (95014): 105 sales (up from 88) with a $2.45 million top sale
7. Menlo Park (94025): 100 sales (down from 124) with a $4.8 million top sale
12. Fremont (94539): 83 sales (up from 52) with a $3.39 million top sale
21. Palo Alto (94306): 62 sales (down from 69) with a $3.15 million top sale
23. Alamo (94507): 61 sales (up from 28) with a $2.33 million top sale

Also of note, leverage has increased as 31.0 percent of the million-dollar-plus buyers in the second quarter paid cash, down from 37.7 percent in the first quarter, down slightly from 31.9 percent in the second quarter of 2011. In the five million dollars or more segment, 59.4 percent of the purchases were cash.

California Million-Dollar Home Sales Highest Since 2007 [dqnews.com]
No Hill Street Blues For This Maniscalco Designed Home [SocketSite]

Posted by socketadmin at 9:45 AM | Permalink | Comments (26) | (email story)

February 15, 2012

Santa Clara Approves 49ers Stadium Contract And Plans For 2014

Santa Clara Football Stadium

With Santa Clara’s City Council having voted 5-1 to approve a $879 million contract to start construction on a new 49ers stadium this July, and over a billion dollars in funding already lined up, the San Francisco 49ers will likely kickoff their 2014 season in a new home down south, exercising an option to leave Candlestick a year before their lease expires in 2015.

Santa Clara Scores $850 Million To Finance New 49ers Stadium [SocketSite]
First And Goal For The San Francisco Santa Clara 49ers Stadium [SocketSite]
Four More Years For The 49ers At Candlestick [SocketSite]

Posted by socketadmin at 9:00 AM | Permalink | Comments (4) | (email story)

December 7, 2011

A Potential Flag On The 49ers Move To Santa Clara

On the heels of Santa Clara announcing it has lined up $850 million in pledged financing to construct a new stadium for the San Francisco 49ers, the JMA Ventures led group which included the York family, owners of the 49ers, has dropped its plans to purchase the Great America amusement park down in Santa Clara.

That being said, while the current owners of Great America had once objected to the plans to build a stadium next to their park, they have now "reached a long-term agreement with the San Francisco 49ers related to the construction of the stadium and parking for NFL and other stadium-related events for the life of the new stadium" according to the San Francisco Business Times.

Santa Clara Scores $850 Million To Finance New 49ers Stadium [SocketSite]
49ers "Affiliated Entity" Partnering On Acquisition Of Great America [SocketSite]
First And Goal For The San Francisco Santa Clara 49ers Stadium [SocketSite]
JMA drops plan to buy Great America, but 49ers stadium plans proceed [bizjournals.com]

Posted by socketadmin at 8:00 AM | Permalink | Comments (0) | (email story)

December 3, 2011

Santa Clara Scores $850 Million To Finance New 49ers Stadium

Santa Clara Football Stadium

Having stiff armed and broken a potential tackle in September, the San Francisco 49ers are now streaking towards an end zone in Santa Clara having announced Goldman Sachs, Bank of America/Merrill Lynch and U.S. Bank have pledged a combined $850 million to help finance a new 49ers stadium down south.

The target opening for the proposed Santa Clara stadium remains 2015, the year in which the 49ers’ lease expires at Candlestick, the long-term redevelopment plans for which most likley no longer call for a replacement stadium.

Candlestick/Hunters Point Rendering: Proposed 49ers Stadium

49ers "Affiliated Entity" Partnering On Acquisition Of Great America [SocketSite]
Santa Clara Scores A Potential Stadium/Team As Measure J Passes [SocketSite]
First And Goal For The San Francisco Santa Clara 49ers Stadium [SocketSite]
Four More Years For The 49ers At Candlestick [SocketSite]
The Grand Plan And Aesthetics For Candlestick/Hunters Point [SocketSite]

Posted by socketadmin at 12:00 PM | Permalink | Comments (18) | (email story)

September 19, 2011

49ers "Affiliated Entity" Partnering On Acquisition Of Great America

Santa Clara Football Stadium

San Francisco based JMA Ventures is in contract to purchasing California’s Great America amusement park in Santa Clara from Ohio-based Cedar Fair Entertainment Company for $70 million, and they're not acting alone in the acquistion:

An entity affiliated with the San Francisco 49ers has been working with JMA and is expected to partner with them in the acquisition of the theme park, which is located adjacent to the new Santa Clara stadium site. The acquisition will position the park for future long-term growth and clears the way for the new stadium project to move forward.

The San Francisco (for now) 49ers lease at Candlestick park runs until the end of 2015 with an option to leave a year early.

UPDATE: "Santa Clara Mayor Jamie Matthews told [the Mercury News] that the York family -- owners of the 49ers -- is investing in the purchase with JMA Ventures."

Santa Clara Scores A Potential Stadium/Team As Measure J Passes [SocketSite]
First And Goal For The San Francisco Santa Clara 49ers Stadium [SocketSite]
Four More Years For The 49ers At Candlestick [SocketSite]

Posted by socketadmin at 8:15 AM | Permalink | Comments (7) | (email story)

September 8, 2011

The "iCon" At The Center Of Apple’s Proposed Cupertino Campus 2

iCon Rendering

The 2.8 million square foot "iCon" building designed by Foster + Partners sits at the center of the proposed Apple Campus 2 slated to be built down in Cupertino.

iCon Detail

In addition to the four-story "spaceship" for 12,000 employees, a four-story garage for 4,300 cars and a smattering of smaller buildings would rise on the 175-acre site.

Apple Campus 2 Site Map

As the former Hewlett Packard (HP) campus site currently appears:

Apple Campus 2 Site: Existing

A public meeting on the proposed development will be held this evening in Cupertino's Community Hall at 6:30 pm, the meeting will be webcast live, hopefully not in Flash.

UPDATE: To clear up some confusion, the proposed campus would have a total of 10,500 parking spaces including 4,600 existing underground spaces, 1,500 new surface area spaces adjacent to the auditorium and research facilities, and 100 spaces for visitors in addition to the proposed above ground parking garage for 4,300 cars.

∙ Apple Campus 2: Overview | Renderings | Site Plan [cupertino.org]
Apple spaceship HQ might work in Cupertino [SFGate]

Posted by socketadmin at 10:30 AM | Permalink | Comments (47) | (email story)

June 15, 2011

Will The Sili-ness Spread North?

From Bloomberg:

A surge in wealth from technology stock sales and initial public offerings is spilling into the Silicon Valley real estate market as newly rich workers bid up home values in suburban cities south of San Francisco.
The median price of single-family houses sold in Palo Alto, home of Facebook Inc., climbed 20 percent in May from a year earlier to $1.63 million, the biggest jump since 2008, according to preliminary figures from research company DataQuick.

As a plugged-in reader notes:

According to Redfin there were only 63 SFH sales in Palo Alto in the past month. It's completely possible for 10 people to alter a median with that small a sample. In fact it would only take 32 people to basically set the median!

And with respect to the broader market, last month Santa Clara County, of which Palo Alto is part, recorded a 23.6% year-over-year drop in sales volume (a loss of 510 transactions) and a 5.1% decline in median sales price.

Home Prices Exploding in Silicon Valley Amid More Millionaires [Bloomberg]
San Francisco Recorded Sales Activity Down 20.1% In May [SocketSite]

Posted by socketadmin at 9:30 AM | Permalink | Comments (53) | (email story)

March 30, 2011

Yuri Milner's $75 $100 Million Dollar Los Altos Hills Mansion

Yuri Milner's Los Altos Hills $100 Million Home

According to the Wall Street Journal, the sale price for the rather large Los Altos Hills home recently purchased by Russian investor Yuri Milner was $100 million, 30 percent more than was previously reported.

The Los Altos Hills mansion runs more than 30,000 square feet and was completed around 2008, according to an architect who helped design the home. Mr. Milner, who heads Digital Sky Technologies, whose investments include Facebook Inc., Groupon Inc. and Zynga Inc., bought the mansion through a limited-liability company. The home was not on the market, according to people familiar with the deal. Mr. Milner has no immediate plans to move into the home, a spokesman said. The sale was previously reported by the website TechCrunch; it and other outlets had reported the sale at $70 or $75 million.
The symmetrical limestone mansion with San Francisco Bay views was inspired by 18th-century French chateaux; the design process began around 2001, according to architect William Hablinski, who designed the home with his then-partner Richard Manion. “There wasn’t a real budget,” Mr. Hablinski said of the home, which has a ballroom, home theater, wine cellar and indoor pool. Public records put the house at about 25,500 square feet with a 2009 completion date.

Believe it or not, the purchase was hedged seller financed with a $50 million dollar note.

Russian Investor Buys Silicon Valley Mansion for $100 Million [WSJ]

Posted by socketadmin at 3:45 PM | Permalink | Comments (27) | (email story)

June 25, 2010

Blame It On The Weather (Or Design)

755 Bowhill Kitchen

Perhaps it’s our rough start to summer with respect to weather that has us looking south, or perhaps it’s simply the design. Regardless, 755 Bowhill Road was rebuilt in 2001 with walls of glass and indoor/outdoor living on three-quarters of an acre in Hillsborough.

755 Bowhill Living

Purchased for $2,800,000 in September 2004, back on the market today (although not yet listed) and asking $3,475,000.

∙ Listing: 755 Bowhill Road, Hillsborough (4/3.5) 3,519 sqft - $3,475,000 [geoffreynelson]

Posted by socketadmin at 10:30 AM | Permalink | Comments (19) | (email story)

February 11, 2010

2010 Index of Silicon Valley: Economy Stalled And At Risk

From Joint Venture: Silicon Valley Network with respect to the 2010 Index of Silicon Valley:

The economic recession has stalled Silicon Valley’s vibrant innovation economy and left its global competitive standing at risk as never before...

With respect to jobs:

Between November 2008 and November 2009, employment in Santa Clara and San Mateo Counties dropped 6.1 percent, compared to 3.8 percent nationally. Silicon Valley lost 90,000 jobs between the second quarter of 2008 and 2009, bringing total employment down to 2005 levels.

With respect to housing:

Residential foreclosure activity dropped by 39 percent in 2009 yet in some cities more than a third of sales are foreclosures. Housing affordability for first-time homebuyers is improving [i.e., values are falling]. New affordable housing units in the region doubled from 2008 to 2009. Average rents declined six percent from 2008, the first drop in rents since 2005.

And with respect to commercial real estate:

Office vacancy rates are at an all-time high since 1998. The continued decrease in demand for commercial real estate combined with the creation of 1.7 million square feet of new commercial space have driven commercial vacancies up 33 percent in 2009 over 2008.

On the plus side, growth in new Silicon Valley "green" businesses and jobs were up 18% and 24% respectively from 2004 to 2008 while median household income was up 5% over the same period. But the real blows to Valley employment didn't kick in until 2009 and per capita income fell 5% from 2007-2009.

2010 Index of Silicon Valley [jointventure.org]
Silicon Valley Faces Tough Climb Back From Recession [jointventure.org]

Posted by socketadmin at 6:00 AM | Permalink | Comments (27) | (email story)

December 10, 2009

More Sizzle Than Steak For Lennar's San Francisco Stadium Plan?

Candlestick/Hunters Point Rendering: Proposed 49ers Stadium

"Former 49ers President Carmen Policy, an adviser for San Francisco site developer Lennar Urban, said that the Santa Clara deal still has a lot of details to be worked out and that San Francisco's site offered the chance for perhaps "the most stunning NFL venue in the country." But the city and developer offered no substantive changes to a stadium proposal the 49ers have passed over in favor of the South Bay plan."

Santa Clarans' backup plan on 49ers stadium [SFGate]
The Grand Plan And Aesthetics For Candlestick/Hunters Point [SocketSite]

Posted by socketadmin at 8:30 AM | Permalink | Comments (16) | (email story)

December 1, 2009

Will Golden Gate Fields Follow In Bay Meadows’ Footsteps?

Golden Gate Fields Aerial

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)

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 Center Sierra Point

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 (46) | (email story)

June 30, 2009

Is "G" Wondering What The "F" As Well?

356 Santana Row #306

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

49ers Santa Clara Stadium Rendering

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 (14) | (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

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 (76) | (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)

Cow Palace Overflow Parking Lot

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)

356 Santana Row #306

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

Financial Title: 'Smooth Closings' Irony

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?

'Green' Hillsborough House (Image Source: SFGate.com)

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

443 Ferne

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!").

443 Ferne: Floor Plan

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

AXIS San Jose: Exterior Rendering

AXIS San Jose: Penthouse Rendering

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)

SocketSite Silicon Valley Tag

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)

Three Sixty Residences: Rendering

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: Map

Three Sixty Residences (San Jose) [360residences.com]

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