Hey, if agents, appraisers, developers, and maybe even the construction crew itself can get away with misrepresenting the size of a condo, why can't the city? A tipster pointed us to 855 Folsom Street # 741, a sadsack condo at the Yerba Buena Lofts designated as part of the city's Inclusionary Affordable Housing Program. This unit, which at $344,983 ($366 HOA) sells for half the cost of a market rate place, was initially listed as a two-bedroom unit (even though it only has one—i.e. dens and/or closets are being passed off as second bedrooms). The first agent refused to market it as such, and the December 31st application deadline has long passed, with no sale. As only a two-person household may buy a two bedroom unit, the condo remains on the market, re-listed once more as a two bedroom. As our tipster notes, in order to accept a single buyer, the city would have to accept culpability for knowingly misrepresenting the size. Shady.
· 855 Folsom Street #741 [Mayor's Office of Housing listing]
Who amongst the can decipher these plans? Speak!