1100 Union Street, San Francisco
Russian Hill
is known for its chic condos and coops with gorgeous views and access to one of the best neighborhoods San Francisco has to offer. Currently, the depth of the inventory in units over about $1,700,000 is not a lot however I believe a rare turnover is taking place in one of the best buildings, 1100 Union Street. There have been times in the not-so-distant past when you couldn’t get into this building yet right now there are two units available, #300 and #401, and a third, #201, that was withdrawn and is awaiting a return to the market in another month or so. Unit #401 started at over $2.5million and has been in-and-out of contract twice. The seller (who lived in the unit for around 40 years) has drastically dropped the price down to just under $2million which is certainly putting downward pressure on the other units.
The Summit at 999 Green Street, San Francisco
It’s been my experience that there is usually no one reason why turnovers happen in clusters other than random chance and it appears to be that way in this case as well. The only other building with a number of units on the market is The Summit at 999 Green Street which has four units to choose from and from what I understand a North facing unit will be coming on the market shortly.
70 Douglass Street, San Francisco
Over in Upper Market, the real estate market on the South end of town is still moving at a rather quickened pace. The spec home at 70 Douglass went into contract quickly with two offers. It is shaped like a shoebox on end, narrow and very vertical but I’m sure the ‘new-ness’ of it pushed some one (definitely not a family with children) to buy. The house ‘feels’ much more like a townhouse with ‘a lot’ of stairs.
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All the Best,
Lance
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