Flips in San Francisco are very, very common, with flippers transforming everything from Pacific Heights confections to Eureka Valley Edwardians into shiny new versions of themselves. Condo flips, however are much rarer, meaning that the megaflip at unit 1501 in Russian Hill's 1070 Green Street is very, very unusual. The three-bed, three-point-five-bath condo sold back in 2013 for $3.65 million, which was already a huge, $1,486-per-square-foot price and more than $500,000 than it had sold for about six months prior. Now, after an overhaul from April Sheldon Design and Black Mountain Construction & Development, it is back on the market asking $7.5 million, a $3.85 million increase that puts it at a mind-numbing $3,054 per square. That's right, $7.5 million for a half-floor condo.
It's located in 1070 Green, which sits on a prime block in Russian Hill. When the unit sold back in 2013, it was fairly dated, with beige carpeting throughout. The kitchen looked as if it hadn't been touched in many, many years. The biggest draw at the time was the floor-to-ceiling windows with some of the best views of the bay in the city. The condo is now entirely open, with a modern, wall-less white kitchen, marble bathrooms, European oak floors with radiant heating, and a laundry room with Ann Sacks tile floors. There is no question that the renovated apartment is stunning, largely thanks to the views, but is it really worth more than $3,000 per square? There's parking for only one car in the garage and HOA dues are a whopping $2,551 per month.
· Fancy Pac Heights Flip Loses Rental Units, Adds $4.95M [Curbed SF]
· Eureka Valley Edwardian Dumps Edward for Someone Richer [Curbed SF]
· 1070 Green Street [Official Site]
· 1070 Green Street [Redfin]