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Van Ness TJ's Eats Humble Pie

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Condo prices dip a bit, and land for future condos dip even more. Galaxy Theatre at 1285 Sutter St, site of an entitled 12-story, 106-unit project with a Trader Joe's on the ground floor, went on the market late last year to the tune of $18 million. Now? A hefty $10 million lighter at $8 million. Says the broker for the property: "We have a motivated seller who is saying we are not holding on to prices from two years ago." Going once, going twice... [SF Business Times, previously]