Maximum Overbid: Did This Rundown Nob Hill Fixer Really Net $21M?

Covering housing in SF, we employ the phrase “That can’t be right” far more often than is probably usual for any other job on the planet. Case in point, this week’s Maximum Overbid is really pushing the definitions of “maximum,” with a Nob Hill sale that hit 775 percent of its original asking price.

The historic but crumbling condo building at 933-939 Jones Street listed for $2.4 million last year, the asking price vacillating back and forth between $2.5 million several times.

Either way, for a couple of hours there it was really looking like both figures vastly underestimated demand, because the sale price this week clocked in at $21 million. Mind you that would be a remarkable figure for a luxury sale, but this building is in an unlivable state. The land, perhaps, is worth a pretty penny–but this is several billion pennies we’re talking about here.

As you’ve probably already guessed, it only took us a few minutes to confirm that this was simple user/computer error and the real sale was for $2.1 million. But this mistake still amounts to news, because so much is automated these days that the bad number was scraped off MLS and repeated on various listing sites already, and some people will believe it. Fortunately, here we have actual human beings checking everything who know that, sadly, this just wasn’t meant to be.

The real biggest overbid of the week is the comparably conservative $1.31 million sale at 1511 44th Avenue–not quite as exciting, but at least it’s the real deal.

AddressBR/BA/UnitsDOMList PriceSold PriceOverbid
933 Jones StreetN/A/N/A/N/A196$2,400,000$21,000,000775.00%
1511 44th Avenue2/1/N/A10$898,000$1,310,00045.88%
126 Thrift Street3/2/N/A11$859,000$1,220,00042.03%
388 Madison Street5/2/N/A8$1,099,000$1,475,00034.21%
6 Minerva Street4/4/N/A5$1,049,000$1,398,00033.27%
2236 Cayuga Avenue2/1/N/A10$995,000$1,310,00031.66%
884 43rd Avenue2/1/N/A13$1,300,000$1,660,00027.69%
639 Hearst Avenue3/2/N/A25$995,000$1,250,00025.63%
456 Vallejo Street2/2/B66$1,095,000$1,300,00018.72%
216 Downey Street 218N/A/N/A/N/A9$1,900,000$2,180,00014.74%

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