What Was Is Now Was, 465 Hoffman Is Here And Modern
Last purchased (or sold) in March of 2007 for $1,150,000 (asking $995,000), 465 Hoffman was a contractor’s dream,
This property is city approved and permit ready for demolition. New plans propose 3000+ square foot single-family detached residence. Disclosures and Reports include: Historical Evaluation, Geotechnical Investigation, Contractor’s Inspection, Advocacy letter and reduced set of proposed design.
The property saw itself on the market again in January of 2008 attempting to be sold for $1,625,000 (~41% more). This time around those plans now had permits and floorplans,
Developers! Start Building Tomorrow. Fully permitted & entitled project site in a spectacular residential location. Modern designed legal 2 unit or marketable as a magnificent 4BR, 3BA, VIEW, single family home. All permits, including shoring & underpinning approved & open, can start building immediately. Demolition of the existing house has been completed.
That was then, this is now:
Price is to be determined (place your bets!). There are: four bedrooms; four and one half baths; two car parking; two legal units; Silestone counters; Miele, Bosch, Gaggenau, Bertazzonni appliances; 100% Recycled Wood Flooring; wave pool; half-pipe; and on call massage therapist (last three are not true, but we can dream, right!?)
We’re still not 100% certain this thing is actually built, as we haven’t yet gone by (or received confirmation from the agent), but we’re assuming it’s definitely coming soon, so we’re sharing with you.
[Update: The home is not yet complete, "about 60 days out". Care to take a look before the masses? Contact us.]
-465 Hoffman, 4 bed, 4.5 bath, price TBD [property website]
February 3rd, 2009 at 9:19 am
Wow this place…finally built. I have had an opportunity to buy this thing so many times. This is a prime example of what has gone on in Noe valley. If someone could look up the sales before this it would be very telling. I know I had a chance to get it as a fixer at $840K and $650K or so, and maybe even another time around 2000 for less.
February 3rd, 2009 at 9:30 am
$1.2m
February 3rd, 2009 at 9:31 am
Those are renderings. Prob not built. At those finish details this place should go for north of $1000 psf, but just how north is up to how risky the developer is with the place. It’s a little high on the hill but and your neighbors are gonna wonder who you are with all that money in a fancy house.
http://maps.google.com/maps?q=465+hoffman,+san+francisco&oe=utf-8&client=firefox-a&hl=en&ie=UTF8&ll=37.749934,-122.440202&spn=0.009857,0.022745&z=16&iwloc=addr&layer=c&cbll=37.749904,-122.440561&panoid=4ftpxOP0CgSHtsLgqrRBlw&cbp=12,95.34466933692636,,0,5
February 3rd, 2009 at 10:47 am
It doesn’t look like that right now. It is closed up with roof, windows, stucco, etc. I would guess they are 3 months to completion.
February 3rd, 2009 at 2:24 pm
I’m going with $2.8M listing. I can’t make any prognostications on the sale though! There’s a few modern Noe listings at $2.5+ right now.
February 3rd, 2009 at 2:56 pm
I’m going with $3.6M listing.
February 3rd, 2009 at 4:09 pm
I’m with Sparky. 3.599M.
they might start at 3.899 then drop the price after 90 days to 3.6
I’m waiting for the tours!
if they schedule 4 open houses on week-ends right away, they are looking for the LEED certification – which they should be able to get (altho the 95% furnace is a joke. I didnt know they were still seeling anything less than 97 and 98%).
February 3rd, 2009 at 4:23 pm
@enzo,
Are you nuts!?
Editor, please fix that link from eddy. Its warping my page.
February 3rd, 2009 at 7:03 pm
My guess is 3.3 million.
February 3rd, 2009 at 11:30 pm
what are you guys talking about?
Since last August nothing sold in Noe over > $2M. There are (or were) over 10 homes in the market that just see price reductions but not action.
Only the one on clipper is currently in contract.
Even last year it had to be really special to talk over $3M.
February 4th, 2009 at 7:12 am
Why wouldn’t they list above 3mil if that is what they want? I thought we were offering list guestimates.
February 4th, 2009 at 8:29 am
110 hoffman. 4/3.5/1/2879 – 2.15
565 clipper 4/3.5/2/3374 – 2.15 (Act.Cont.)
731 douglass 4/3.5/1/ (some 3000?) – 2.15
4251 23rd 5/4.5/1/3650 – 2.275
542 valley 4/3.5/2/3100 – 2.5
4356 25th 3/3/2/? – 2.6
1466 noe 4/3.5/2/3320 – 2.7
313 duncan 5/5.5/2/3200 – 2.85
3816 22nd 4/4.5/2/6140 – 6M
across the city, we have the following Act/Cont:
247 sea cliff 3/3/2/? – 3M
2674 filbert 3/3.5/1/3500 – 4M
2580 broadway 3/3/2/? – 4.2
(and plenty of listing active).
I don’t know WHY they couldnt [b]LIST[/] above 3M. Specially when the property stand out against the other Noe listings.
February 4th, 2009 at 8:51 am
Also, that big one on the top of the hill at got $5.8M or something.
Plus they bought at $1.15M fully re-designed it demoed it, got permits, and built it for at least $1.2M. Carry and closing costs will be $500K+. They need to sell for at least $3M.
February 4th, 2009 at 2:34 pm
They can list for whatever they want, I’m not one of those bears on the list here.
I’m just trying to understand what the purpose of listing at that price point?
I’ve seen most of the houses Sophie listed and on paper one could make a case why this listing is a bit better, but just a bit AND those listings aren’t selling.
As for 625 Duncan, it was a double lot, which was used for a BIG house, that’s a BIG difference. More importantly that house went into contract earlier in ’08 (bubble time) and the owner wanted to control the finishes.
And yeah, the builder might need $3M to sell the place, but that’s not my problem.
I live in NV, rebuilt 3500 sqft house myself but would never pay anywhere near $3M for a “normal” house on a normal lot around here.
Pac/Presidio Hts are world renown locations NV isn’t.
4552 19th is already ~$1M below initial asking after the 3rd/4th reduction.
February 4th, 2009 at 3:44 pm
“4552 19th is already ~$1M below initial asking after the 3rd/4th reduction”
That’s a spec home with still more room left over to be quite profitable, tho.
Is Presidio Heights really all that famous? Noe Valley has some cache. Predio Heights more, and deservedly so. The neighborhood looks and feels more monied, and its views can be much better. But does it really dwarf NV these days?
February 4th, 2009 at 5:20 pm
Re- 19th property, the purchase price as of 9/07 was 1.575. It’s a big house with 20K of solar and bunch of other upgrades.
These guys also need $3M to make some profits, so the margins are getting tighter.
The biggest difference between NV and those established northern neighberhoods is that around here there are is a very heterogeneous collection of working class homes, many that aren’t worth much more than the land they sit on.
In the Heights you can’t buy any house for less than $3M, there are very few exceptions to that rule.
It will take Noe 30 years to get to that point
February 5th, 2009 at 2:06 pm
In light of this discussion and additional information we have recieved team sparky would like to change our extimated price to…
$4.5M
February 5th, 2009 at 4:14 pm
“Re- 19th property, the purchase price as of 9/07 was 1.575. It’s a big house with 20K of solar and bunch of other upgrades.
These guys also need $3M to make some profits, so the margins are getting tighter.”
I’m sorry, but that’s Socketmath, and it’s incorrect. I’m actively trying to sell projects similar to what this one formerly was to some builders right now. Four separate builders are using $300 a foot as a conservative metric for builds in this market. The 19th street developer did not add 3000 feet to the existing structure. They added ~2200 feet. With some redundancy savings, the build on the 19th street house probably cost about 600K or so. Use 750 tho. Round up to 1.6. 1.6 + 7.5 = 2.35. They’re at 3.3M right now. At this point using those numbers they’d have nearly $1M to play with. Plus given the timeframe they financed the construction.
Oh, and rumor has it they really are gonna ask 4.5M for Hoffman.
April 9th, 2010 at 12:10 pm
sold on march 15 2010.
closing at 2.970 for a last asking price of 3mil.
$675/sqft