Then: $769,000 Now: $749,000 You Save: $20,000, or 3 percent
The condo at 115 Masonic was listed earlier this fall at $769,000, not so far above its 1999 sale price of $670,500. With a modest price chop, the 2-bed, 1-bath, 1,582 square foot property inches a bit closer to its pre-millennium asking price. The listing says the building's an Oliver Rousseau, and also points to "sound proof barrier windows" and a yard in the back. That's also the first piano in a while we've seen in a condo stage job. Don't worry, a 60″ HDTV would do just as well there. · 115 Masonic Ave [Redfin]
Approved earlier this year after maximum hateage by neighbors, it appears the Pagoda Theater project in North Beach has finally started rumbling forward. To wit, the "Enough with the plywood" banner that was long draped in protest on the empty husk of a building has now been either removed, or covered with a much larger banner. A much larger banner announcing the project's name - The Palace at Washington Square! - and its long-in-waiting ground-floor taqueria, La Corneta. Above will go 18 condos with one-, two-, and three-bedroom units, and below, La Corneta and another retail space or two. There'll also be 27 parking spaces in an underground garage. A call to the number on the banner is as yet unreturned, leaving a few biggies unresolved: 1) when does construction start? 2) when will it finish? and 3) it is starting soon, right?
It's not on the listing service, but it's been looking for a buyer for several months now: the Toy Factory Lofts' Penthouse H has 2 bedrooms, 2 bathrooms, and 2,428 square feet. After being converted to its new life as an exposed-concrete loft building by architect James Magni in ‘97, Unit H sold for $1,380,000 in 2005. It's now going for slightly higher $1,695,000, with homeowners dues of $518 a month. Bonus: private deck's view of the love-or-hate Federal Building, not to mention SOMA Grand and Trinity Place. · Stunning Toy Factory Conversion Penthouse Loft in SOMA [Craigslist] · One Rausch Street [Website]
We found out a few months ago that the designer of the Contemporary Jewish Museum, Daniel Libeskind, had also designed a mezuzah for their gift shop. Now San Francisco's own Stanley Saitowitz has his own "series of ritualist artifacts" called the Judaica Collection (including a mezuzah too, naturally). According to the firm, "each piece is a contemporary expression of an ancient object." Saitowitz gives a free introduction to the line from 6 to 8 p.m. on Nov. 19 at Propeller in Hayes Valley. In time for Hanukkah, no less. [Curbed Inbox]
Richmond SF Blog has a nice pro vs. con dialogue on the Geary BRT project. No. 1: "All businesses will benefit a little, some a great deal. Geary BRT will attract more people to the corridor as people figure out that if you want to go downtown without your car, you can always walk to Geary and catch a fast and comfortable BRT vehicle in five minutes." No. 2: "Businesses will suffer during construction and after. The loss of traffic lanes, left-hand turns and parking spaces will hurt an already battered business district."
One giant leap forward for Lennar-kind: the Hunters Point/Candlestick redevelopment's draft environmental impact report for Phase II went online yesterday. The project, which encompasses a total of about 790 acres in the southeastern portion of the city, is so huge it's about twice the size of Treasure Island, which incidentally is also supposed to get redeveloped by Lennar. Phase II follows the comparative drop in the bucket of Phase I, in which the 247 condos as first described in April and in another render reveal just a couple weeks ago belong. The impetus behind the massive redevelopment: pumping life back into the southeastern portions of the city (cough: Bayview) via 10,500 homes and an infusion of 24,465 residents with which to jelly-fill those donuts. And still key to this very plan: a 49ers stadium, located in Hunters Point rather than its current Candlestick spot.
Will it be enough to keep the 49ers in the city, even as they negotiate with Santa Clara on moving their stadium there? That remains to be seen- if the Hunters Point stadium falls through, Lennar and the city will simply fill in the hole with more housing and offices. Construction on Phase II - an estimate, mind you - could go from 2010 through 2023. During that span of time, 10,000 trees will be planted, and 336 acres of new and rehabbed park and open space will be created (including the football stadium). The tab for all this: $2 billion.
The 117-unit project at 1415 Mission was approved yesterday, with a few strings attached, including an exploration to better transition the building's height to its neighbors to the south, and to explore building a vertical green wall. The pitched battle to chop the height of the building in half, led by a petitioning neighbor, focused particularly on two points of contention: the lack of "transition" in heights between the north side of Mission Street and the south side, and the wind impacts of the tall building - which in this area seems to be a hot topic given the endless gusts of wind.
First, having discovered a petition in opposition to 1415 Mission as it was proposed, the lawyers and architects for the project pulled together their very own petition with 70 names, patting themselves on the back for the "truly notable" amount of outreach they did with the community. There was indeed a very long list of supporting organizations, but dissenters noted that the block on which 1415 Mission resides averages 25 to 30 feet in height, while the project is a singular 130 feet. The problem, as deftly summed up by the city's zoning administrator: Mission Street is a primary transit corridor, making height and density key, but the spot also abuts the relatively flat Western SoMa, which would cause a "dramatic drop in height" - or as one neighbor called it, "like standing on the edge of a cliff and falling off." The Planning Commission ultimately decided that "we cannot build something at 40 feet because there's a 20 foot building next door and keep doing that over the entire city in these types of areas," noting that the height was "totally appropriate" for this particular location.
The problem of wind, however, was less clear cut. Two studies did confirm that the overall impact of the building on the local wind situation would be more or less negligible. A planning commissioner did quibble over a change in the way wind studies are done, and whether the newfangled computer way can be reconciled with the old-school way of doing wind studies. But we digress. It was noted, again, that 1415 Mission is 600 feet down from the wind current around Fox Plaza and AAA, and that this building would have a pretty hard time getting in on that action from where it stands.
Finally, a purely aesthetic issue over the project's south-facing wall. Tall as the building would be in comparison to its neighbors, its blank property-line wall suggested something of a foreboding presence. Heller Manus acknowledged the challenge, saying that some ideas floated to lessen the brutalist look were digital media displays, supergraphics, or a vertical green wall. The Planning Commission dug that last idea, and requested that the developers explore it further - before giving them the green light and sending them all home for the night. · Misunderstood 1415 Mission Actually Has Much Love [Curbed SF] · Too Tall, Too Wind Tunnelly: 1415 Mission Faces SoMa Wrath [Curbed SF] · Rendering Update: SoMa's 1415 Mission Gets a New Chassis [Curbed SF]
The SF Business Times has a harsh dose of truth for SoMa's One Hawthorne in today's issue: "Not only will One Hawthorne be the only new tower to open in 2010, it will still be the new kid on the block in 2011, 2012 and likely even in 2013." (Rentals must not count.) Anyway, developer Ezra Mersey's whistling a cautiously optimistic tune- citing the deep valley in the Case-Shiller home price index, he says "we are on the other side." Meaning the EHDD-designed, 165-unit high-rise probably won't have such a tough go of it when it opens for sales come January. According to the SFBT, One Hawthorne will be taking a more "intimate" approach to the luxury space, with a "smaller, more subdued vibe" than, say, the Infinity or Millennium Tower, the cool kids down the hall. Units should start in the $400Ks for a junior 1-bed, with 3-bed penthouses landing somewhere north of $2 mil. · Condo tower rising over San Francisco [SFBT] · One Hawthorne Teaser: A Hundred Reasons for One, Well, You Know [Curbed SF] · Construction Update: Rebar Rises at One Hawthorne [Curbed SF]
The luxury rentals at the 43-story Paramount in SoMa seem like ancient history now, but lest we forget, they're still relatively new on the scene. Not that they should have a complex about that or anything- a Craigslist ad for a 2-bedroom there today announces boldly that you'd "be living in The Paramount, the tallest, most dramatic luxury rental in the history of San Francisco." Which is probably at least a notch or two higher than, "If you lived here, you'd be home by now." So a corner 2-bed unit with all the luxury amenities, doorman, valet services, etc.: $4,028 a month. · Corner two bedroom available NOW [Craigslist]
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Then: $1,550,000 Now: $999,000 You Save: $551,000, or 36 percent
Extreme choppage: this almost overly cute 1-bedroom apple pie house north of Lake had already lost a couple hundred G's when last we checked in June. The new price is now a solid third lighter than its very ambitious debut asking price of $1.5 million. That was then, of course, and this is a very sobering now. Will this be the last price chop before 31 21st finds an owner, preferably with pie-baking inclinations? · 31 21st Ave [Redfin] · That's Rather Lovely: Pastels in the Richmond [Curbed SF]
On that note... if what a planning commissioner said yesterday is true, then the Argenta at Mid-Market is considering going back to its original plan of selling condos soon. The luxury newcomer at 1 Polk St. went entirely rental late last year, shaken by the state of the real estate market. Try and try again, as they say. [Curbed SF, previously]
In the wake of Leddy Maytum Stacy Architects' just-launched Mission Walk comes a 55-unit family housing project being steered toward this empty lot at 474 Natoma in SoMa. The project, by Bridge Housing, is financed by the San Francisco Redevelopment Agency and features a rooftop deck, parking garage, and a central landscaped court. The units in the building will go from one- to three-bedroom units, and be available within certain income restrictions, specifically for families with 80 percent to 100 percent of the area median income.
The $8,000 credit was scheduled to expire on Dec. 1 2009 but will now be in effect through the end of June 2010. Homebuyers must sign a contract before April 30 and close by June 30, 2010. The income limits were also raised: Single buyers can now earn up to $125,000 and still get the full credit while a married couple can earn $225,000.
The bill also made more homeowners eligible to claim the credit on their taxes. First-time buyers - those who have not owned a home in the past three years - still qualify for an $8,000 rebate, which was previously mostly useless for San Francisco due to the previous income cap of $75,000 (which put most out of the running for a minimum SF purchase). However now people who want to trade up can also qualify. Those who have owned and occupied a residence for at least five years out of the past eight can claim a $6,500 tax credit if they close on a purchase by the end of June.
Purchased for $800,000 in December 2006, Odeon (181 O'Farrell) #508 was taken back by the bank. It's been listed at $601,400, a sale at which would represent a 25 percent drop in value over the past three years. Also...
A developer's recent legal challenge of the affordable housing requirements imposed by the City of Los Angeles in order to gain approval for a new market rate residential rental development "raises the question about whether the affordability requirements for new...
While the lottery earlier this year attracted four times as many applicants as there were available Mission Walk (330/335 Berry) BMR condos, you might not be out of luck after all. From the folks at BRIDGE Housing Corporation (emphasis...
From the flyer for 999 Greet Street #2802 making the rounds amongst the brokerages by way of a tipster: "Very Motivated Seller! (Seller has tax advantage if sold in 2009!)." No word on exactly what advantage (other than yours...
The full Candlestick Point-Hunters Point Shipyard Phase II Development Plan Draft Environmental Impact Report is now online in six volumes and thirty-eight parts. The overview: The Project proposed by Lennar Urban includes a mixed-use community with a wide range...
The rendering above, the reality below, and it's on the market for the eleven residential condos and ground floor retail of 1327 7th Avenue between Judah and Irving. The two-bedrooms have been priced from $1,175,000 for the 1,272 square...
While they seem to be selling the views (from the roof), the interior of 1724 Grant Street has "been renovated from top to bottom" (kitchen, baths, etc.) as well. Purchased for $2,705,000 in March of 2007 (and then remodeled),...
Emerald Fund is hosting a neighborhood conversation, to solicit ideas and commentary for their new park and mixed use development at 333 Harrison Street.
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We found out a few months ago that the designer of the Contemporary Jewish Museum, Daniel Libeskind, had also designed a mezuzah for their gift shop. Now San Francisco's own Stanley Saitowitz has his own "series of ritualist artifacts" called the 
The problem of wind, however, was less clear cut. Two studies did confirm that the overall impact of the building on the local wind situation would be more or less negligible. A planning commissioner did quibble over a change in the way wind studies are done, and whether the newfangled computer way can be reconciled with the old-school way of doing wind studies. But we digress. It was noted, again, that 1415 Mission is 600 feet down from the wind current around Fox Plaza and AAA, and that this building would have a pretty hard time getting in on that action from where it stands.
Finally, a purely aesthetic issue over the project's south-facing wall. Tall as the building would be in comparison to its neighbors, its blank property-line wall suggested something of a foreboding presence. Heller Manus acknowledged the challenge, saying that some ideas floated to lessen the brutalist look were digital media displays, supergraphics, or a vertical green wall. The Planning Commission dug that last idea, and requested that the developers explore it further - before giving them the green light and sending them all home for the night.
The SF Business Times has a harsh dose of truth for 
On that note... if what a planning commissioner said yesterday is true, then the Argenta at Mid-Market is considering going back to its original plan of selling condos soon. The luxury newcomer at 1 Polk St. went entirely rental late last year, shaken by the state of the real estate market. Try and try again, as they say. [Curbed SF, 
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