Friday is time for the High & the Low, a Curbed column chronicling the most and least expensive homes sold in San Francisco in the last seven days. What surprises did the week hold?
Here’s a real-estate riddle to ponder: When is the city’s most expensive home this week not really a home at all?
Answer: When it hasn’t been built yet. Unit number 22A at the Four Seasons on Market Street sold for $3.3 million on Thursday. And yet, there is no 22A at the Four Seasons. The apartment is merely a shell.
The new owners will have to build the whole thing themselves. And yet, so infatuated are some San Franciscans with the possibility of living in the building that this empty compartment is more valuable than every other home sold this week.
22A first came on the market in July, asking $3.5 million. Interestingly, this sale is actually a loss, as it last sold for over $3.4 million in 2006.
Is there any more sobering experience than taking a six-figure hit on nothing at all over ten years?
For our low-tide marker this week, we head from a home that doesn’t exist straight into one that arguably shouldn’t.
It scarcely seems possible that a singly-family home sells anywhere in San Francisco for less than half a million dollars these days. And yet, it happened, at the Visitacion Valley’s 14 Garrison Avenue.
That duplex (four beds and two baths between the pair) sold went for $450,000, $25K less than what it listed for last month.
Garrison Avenue, of course, is where developer Joseph Eichler created 150 identical, brick-clad midcentury homes in 1963, and this is indeed a sample from that set.
The low, low price is presumably because of the “deferred maintenance” mentioned in the ad.
No interior photos circulated thanks to those maintenance issues, but here are some shots of an identical unit in the same complex, to give you an idea of what the home ought to look like in its better moments.