Sold | 2169 Folsom M202 | Inner Mission | $1,400,000

Holy hell that was a long one! In the end, we got it done. Congratulations to all involved. And to those readers that are looking for more blogging than just our recent sales, my apologies. We’re working on that too. Gotta make hay while the sun is shining, and get back to blogging about all that good real estate p*rn when we come up for air. In the meantime, there is always The Goods, which updates daily so you can track everything on your own.

2169 Folsom M202 | Allied Box Factory Lofts | Mission District | $1,375,000

From your first look at the exterior of the historic Allied Box Factory, to the time you stroll through the lush courtyard to this one of a kind Live/Work loft, you will be in awe…

Originally built in 1907 as a timber factory, the Allied Box Factory was converted to a mixed-use development in 2001 with the intent of fostering a creative community. Of the Allied Box Factory’s 31 spaces, 15 of them are live/work condominiums, eight of the building’s non-residential units are used as creative studios, and six house commercial enterprises.

Situated on the second floor, unit M202 has recently been transformed from cool to ultra cool with the complete remodel of the kitchen/living/dining area that creates an ambiance second to none. Entertain guests in your modern, open kitchen complete with a 5 burner Thermador range, grey Caesarstone Countertops, Custom Walnut Cabinets, Carrera Marble Island (with seating), Thermador Dishwasher, GE Monogram Refrigerator, and original bar lighting from the previous owner, famous artist Rex Ray.

A combination of hardwood and concrete flooring with large exposed timber and open ceilings is certain to capture your attention. Extend your living area by opening the doors to your large outdoor PRIVATE patio with room for seating, dining, gardening, and of course barbecuing. Enjoy the warm weather the Inner Mission provides, soak in the city vibes and rooftop views, and live the San Francisco dream.

Not only does this amazing unit feature a completely remodeled kitchen, a designer bedroom with custom closets, hardwood floors throughout, a designer bathroom with custom mosaic tiling, washer & dryer, and deeded parking, but also a completely separate bedroom/office/studio across the hall. This room also contains gorgeous wood floors, original windows, tons of natural light from the courtyard, and is ideal for the live/work lifestyle so many of us strive to achieve.

Listing Details:
$1,375,000
2 bed
1 bath
1 car parking
Remodeled Designer Kitchen
Carrera Marble Island
Caesarstone Countertops
Custom Walnut Cabinets
Thermador Range
Private Patio
W&D
Hardwood & Concrete Floors
HOA Dues: $437.96/mo + approx $40/50/mo for common utilities
Prime Inner Mission Location
*Live/Work loft. Certain restrictions/stipulations may apply. Buyer is advised to investigate

Showing Schedule:
Private Showings Upon Request

Exclusively listed by:
Alexander Clark
Keller Williams Luxury Realty International
theFrontSteps.com
alexclark@gmail.com
415-254-5351

461 2nd Street | Clocktower | South Beach | $1,600,000

This gorgeous and rare Clocktower gem at 461 Second Street is our newest listing at theFrontSteps.  Unit T660 features a spacious floorplan, hardwood flooring, soaring ceilings, and industrial-inspired, modern interiors. Peer out the floor-to-ceiling windows for a view of AT&T Park, Potrero Hill and the beautiful, blue bay.

San Francisco Condo Prices Down 3% Since Month Prior, Up 15% YTD

SAN FRANCISCO CONDOMINIUM PRICES DECLINED 3 PERCENT IN SEPTEMBER FROM PREVIOUS MONTH, UP 15 PERCENT FROM LAST YEAR

Resale Inventory Surpasses Two Months of Supply for First Time in Two Years
According to The Mark Company Trend Sheet

San Francisco – October 14, 2015 – San Francisco condominium prices declined 3 percent from the previous month according to the Condominium Pricing Index released today by The Mark Company, a leading urban residential marketing and sales firm.
The San Francisco Condominium Pricing Index fell to $1,294 per-square-foot in September, retreating from the $1,340 per square foot record set the previous month, but remains 15 percent higher than September 2014. Monthly appreciation during this time of year is typically low or even negative.

There are approximately 656 new condominiums for sale in San Francisco, marking the lowest inventory level since March of this year. The scarcity of inventory will be eased slightly when sales commence at several developments during the fourth quarter of this year, including 41 units at 450 Hayes in Hayes Valley and 34 units at LuXe in Pacific Heights.

Prices for resale condominiums also decreased slightly to an average of $953 per-square-foot, falling 2 percent compared to August. Despite the recent decrease, prices are still 8 percent higher than one year ago. The number of resales is trending downward, falling 19% since last month, and 25% year-over-year.

“There are currently 395 active resale condominium listings in San Francisco, representing 2.4 months of supply. This is the first time in over two years that active inventory has increased to more than two months of supply, however inventory is still extremely low,” said Erin Kennelly, senior director of research, The Mark Company. Six months of inventory is considered to be the equilibrium between a buyers and seller’s market.

New construction absorption (the number of new condominiums placed into contract), fell approximately 25 percent in September, following a decline of 39 percent in August. “Slowdown is typical in the late summer, however absorption is still 36 percent higher than the same month one year ago,” noted Kennelly.

The Condominium Pricing Index, part of the firm’s monthly Trend Sheet (available at http://www.themarkcompany.com), is based on recent sales data, and uses a proprietary quantitative method to measure trends in market demand. It tracks the value of a new construction condominium without the volatility of inventory changes.

SOLD | 142 Russ #2 | SOMA | $1,125,000

russI’m happy to report another successful battle won. Thank you to the listing agent and sellers for entertaining, and accepting my clients pre-emptive offer. What a great 2-bed/2-bath home at 142 Russ #2 in San Francisco’s SOMA. Listed at $1,049,000, we closed at less than 8% over asking, at $1,125,000. The home is perfect for my client now and in the future, and he “got in” before it gets nuts.

Congratulations to everyone involved!

142 Russ #2, San Francisco Property Details [theGoods-sf.com]