Category Archives: Russian Hill

Go Giants!

San Francisco Real Estate Third Quarter Report

San Francisco House & Condo Values
Which Neighborhoods Dominate Home Sales?
Who Is Buying the City’s Luxury Condos and Why?

September saw the largest surge of new listings coming on market in the past 2 years, which led to a big jump in deal-making, but data on transactions negotiated in September won’t be available until most close escrow in October and early November. In the meantime, we’ll look at the last 2 quarters.

Median Sales Prices & Average Dollar per Square Foot
The following 2 charts look at current and longer-term trends in home values. As is common, median house sales prices dropped a bit in the 3rd quarter – this is due mostly to seasonality issues – though condos have held steady for 3 quarters now at $950,000. Dollar per square foot values have continued to increase to new peaks: This metric is particularly being impacted by new-development condo sales, which are breaking dollar per square foot records virtually everyplace they’re being built.

If you wish to drill down on values in very specific city neighborhoods, we recently updated our interactive map, which can be found here: SF Home Price Map

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Where Home Sales Occur at What Prices
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Renderings Revealed For Vacant Corner Lot Development Opportunity At 1000 Broadway, Russian Hill… Bids Due Sealed

What it is now:
100broadstreet

What it could be:
1000Broadway

The view you might see:
100broadwaydiningrm
The Deets:

“The property consists of 5,415 square feet of vacant land slated for subdivision and situated on the northwest corner of Broadway and Taylor Streets. The property offers spectacular views over San Francisco, including North Beach, the Financial District, the Bay Bridge and the San Francisco Bay. The site is flanked on two sides by a stately historic wall.

The proposed development dubbed “Wysteria” consists of two luxury single-family homes, each on its own fee-simple lot, facing Broadway Street. It also includes a building containing two luxury townhome condominiums to be built on a third lot on Taylor Street. Designated site addresses will be 1000 Broadway, 1010 Broadway, 1601 Taylor and 1625 Taylor Street.

The project was designed by renowned architectural firm Page & Turnbull. For over thirty years, Page & Turnbull has served as the preservation architect for numerous National Register and locally recognized landmarks. Their work has been honored by the National Trust for Historic Preservation, American Institute of Architects, California Preservation Foundation and other national, regional and local organizations.

This property is one of the few remaining developable lots on the northern rim of San Francisco. The property is situated among many gracious single family homes and classic Arts and Crafts, Mediterranean, Edwardian and Victorian buildings.”

Talk about a prime opportunity in an A+ location…

Sealed bids are due August 1st, and you heard it here first.

-Wysteria Residences [website]

Another Russian Hill Sale And Testimonial

Another happy client has been so kind as to share a testimonial of the service I can provide to you and your friends and family.

I’m a commercial real estate professional – a few years back I chaired the commercial RE side of our trade association. My wife used to buy retail centers for a REIT. We know the value of having an experienced professional on our side. When we decided to buy a place in SF we chose Alex to represent us. We’re delighted with our new home and would recommend him highly.
-Ed & Susan



Thanks guys!

If you’re in the market to buy/sell San Francisco, Marin, or Peninsula real estate, please don’t hesitate to give me a shout.

-More Testimonials

Buyer Testimonial In Russian Hill – Opportunity For Long Term Guests And Corporate Renters, And A Little Scoop On 1177 & 1179 Union Street

Don’t ask me why, but for the past 5 years (at least) I haven’t been asking my clients for testimonials. True to one of my New Year’s resolutions, I’m going to begin gathering as many as I can, and sharing them here. Beginning with this one…

San Francisco is a city littered with real estate agents that look at buyers and sellers as “just another lead” to make money, but Alex is the exceptionally rare breed of real estate agent that just “gets” it.

Alex has helped me purchase two homes and there are two things that set Alex apart from the rest of the pack – patience and commitment. First, Alex was not only willing, but also actively enthusiastic about showing me a broad spectrum of properties while I was still unfocused in my search so that I could educate myself on individual micro-markets. Many agents would have considered this a waste of their time.

Second, once I had started down the negotiation process, Alex was completely committed to my cause – i.e. getting the best deal possible. Even when the 12th hour was nigh, and it looked as if I was about to walk out of what was already a great deal because of some overlooked loose ends on the seller’s part, Alex didn’t pressure me at all to close the transaction. Instead, Alex worked with me to execute an especially well crafted negotiating maneuver that extracted thousands more from the seller.

Well done, Alex.

Thanks Jason! It was a pleasure working with you. I hope your property treats you right.

For anybody interested in a quintessential San Francisco location for your long term guests, US Open of Golf (coming to San Francisco’s Olympic Club this June) or The America’s Cup (coming to our waters 2013) Visitors, or corporate executives, the units will be offered as a VRBO, corporate, and (potentially) long-term rentals. Details are at [temporarily offline].

For details on this transaction, feel free to contact me directly. Essentially, it was/is a two unit building recently converted to a condominium. The units separately were asking $865,000 for the bottom, and $1,065,000 for the top, for a combined $1,930,000. My client was able to get the property for under asking price, even though multiple offers were received.

Four Buyers In Four Days…And 121 Beulah, How Did It End?

Hi all! I just wanted to give a little update to you from my world of San Francisco real estate.

In my humble opinion, the market is extremely hot for the right properties. On Friday I wrote four separate offers (five if you count that one property is two condos), in four entirely different neighborhoods, and have been in a multiple offer situation on every single one of them. My buyers lost out on a house near West Portal (by roughly $25-35k), and my buyer on a Outer Avenues house is still in the thick of a six offer situation.

My clients for a Cole Valley property accepted a counter offer from the seller, knowing that other offers were lurking. And thankfully, the sellers of a Russian Hill property that my client offered on realized cash truly is king in this lending environment, and wisely accepted our offer on their property, rather than the others with financing.

I would love to share details and specifics about all of these, but as you can imagine, I can’t. I am very busy representing a ton of people throughout the city at this very moment, and all of it is helping me gain that much more knowledge to help you.

As always, other agents are talking to me and sharing stories, potential buyers they may have for homes, and properties some of their sellers may sell. Why they don’t just post all of it for free on PocketListings.net is beyond me, but I’m happy they feel comfortable sharing with me.

If you, or any of your friends/family, need help with San Francisco real estate, please don’t hesitate to contact me. My head is FULL of real estate opportunity!

Oh…and that luxury remodel on Beulah I mentioned two weeks ago….SOLD IN FIVE DAYS for $2,600,000 (asking $2,495,000). We can only assume CASH, and multiple circling.

Happy Monday! It snowed!