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Two-Story Ritz Condo Humbles Itself, Drops Price $700K


If you find yourself looking askance at 8 Octavia's frothy prices, you might consider slumming it at the Ritz. No, really. This 2-bed, 2.5-bath, 2,090-square-foot corner unit is not only one of the building's few two-story condos, but it has cut its price twice since going on the market in January. Now listed for $1.999 million, unit 1105 shed $500K from its price, and this was after a $200K reduction in March. It's fallen a long way since the pre-recession heights of spring 2008, when the property brought $3,021,500. With all those reductions, the price per square has now dropped below $1,000, to $956, which sounds eminently reasonable next to 8 Octavia's $1,384. Of course, HOA dues tally up to a whopping $2,820/month, which gets you the full range of amenities, from the 24-hour concierge and valet parking to a lounge and gym. However, there's "free" parking!
· 690 Market St, #1105 [Redfin]
· Glitzy Two-Story Condo at the Ritz Lists for $2.699M [Curbed SF]