When a tiny little loft near Civic Center/Mid-Market came on the market in late July for $375,000, it seemed like a good deal despite its diminutive size and view of a wall next door. The loft, you see, was really quite sleek, and it was located in the landmark Book Concern building with amenities like a club room, a roof deck, and a gym. But nothing that is a good deal in San Francisco's real estate market seems to stay that way for long. This teensy little place ended up selling for $95,000 over asking, with a final price of $470,000.
While the loft may be cute inside, it has its negatives. It sits right on the edge of UN Plaza on a corner that's very rough around the edges. The mini-kitchen has neither a full refrigerator nor any actual cabinets, and the ladder up to the loft space is raw enough that going to bed at night probably feels quite a bit like climbing into a bunk bed. It's also completely unclear where the new owners will hang their clothes, because there is no closet space that we can see. There's laundry in the building, but it's coin-operated. Despite all of these shortcomings, someone clearly fell in love with it and was willing to shell out more than 25 percent over asking.
· This Very Tiny (and Sleek!) Mid-Market Loft Lists for a Mere $375K [Curbed SF]
· 83 McAllister Street #111 [Redfin]