Kevin V. Nguyen

On paper, the condos at the Serif and OneEleven SF buildings in Mid-Market check off a lot of boxes for a first-time home buyer in San Francisco.

core/paragraph

<p>On paper, the condos at the Serif and OneEleven SF buildings in Mid-Market check off a lot of boxes for a first-time home buyer in San Francisco.</p>

They’re newly constructed, have great views and are stuffed with luxe amenities. In a city known for its <a href="https://sfstandard.com/2024/04/27/why-owning-a-home-in-san-francisco-has-never-cost-more/">exorbitant housing costs</a> and <a href="https://sfstandard.com/2024/04/08/san-francisco-new-housing-permits-pace/">dismal record on housing production</a>, these are the kind of move-in ready listings that would normally be grabbed quickly, particularly with the discount that comes from buying directly from the builder.&nbsp;

Why owning a home in San Francisco has never cost more

San Francisco approved just 7 new homes in 2 months. Why?

<p>They’re newly constructed, have great views and are stuffed with luxe amenities. In a city known for its <a href="https://sfstandard.com/2024/04/27/why-owning-a-home-in-san-francisco-has-never-cost-more/">exorbitant housing costs</a> and <a href="https://sfstandard.com/2024/04/08/san-francisco-new-housing-permits-pace/">dismal record on housing production</a>, these are the kind of move-in ready listings that would normally be grabbed quickly, particularly with the discount that comes from buying directly from the builder.&nbsp;</p>

But these are not normal times. In downtown, a combination of a <a href="https://sfstandard.com/2024/04/24/how-much-big-tech-pulled-back-in-san-francisco/">mass office exodus</a> and interest rate spike has eliminated a large swath of would-be buyers from the market, resulting in condo prices falling across the board.

Corporate retreat: Big Tech has slashed its office presence in San Francisco by half

<p>But these are not normal times. In downtown, a combination of a <a href="https://sfstandard.com/2024/04/24/how-much-big-tech-pulled-back-in-san-francisco/">mass office exodus</a> and interest rate spike has eliminated a large swath of would-be buyers from the market, resulting in condo prices falling across the board.</p>

A quick scan on Zillow highlights a handful of similar properties—mainly centered in SoMa— with the following qualities: Newly built, never occupied, and experiencing major price cuts.&nbsp;

<p>A quick scan on Zillow highlights a handful of similar properties—mainly centered in SoMa— with the following qualities: Newly built, never occupied, and experiencing major price cuts.&nbsp;</p>

Granted, these apartment-sized dwellings might not fit the stereotypical image of the American Dream, but they are still property one can own and trade (or rent out) down the line.&nbsp;

<p>Granted, these apartment-sized dwellings might not fit the stereotypical image of the American Dream, but they are still property one can own and trade (or rent out) down the line.&nbsp;</p>

People disembark a MUNI bus on in front of Serif SF at 960 Market Street on Thursday, May 30, 2024. For San Francisco homebuyers, downtown condos are typically the best deals in town but available condominiums (condos) seem to have cooled and real estate agents are now stuck with empty units for extended periods of time.


<figure class="wp-block-image size-large"><img src="https://content.sfstandard.com/wp-content/uploads/2024/05/inlined01_20240531-newemptycondos.jpg?w=1668" alt="A busy urban street scene with people walking, a modern multi-story building, trees, a city bus labeled &quot;Clean Air Vehicle,&quot; and scattered orange traffic cones." class="wp-image-280044"/><figcaption class="wp-element-caption">The Serif SF at 960 Market Street opened in 2022 during the latest residential market contraction, fueled by an exodus of office workers and high interest rates.</figcaption></figure>


core/image

<figure class="wp-block-image size-large"><img src="https://content.sfstandard.com/wp-content/uploads/2024/05/inlined01_20240531-newemptycondos.jpg?w=1668" alt="A busy urban street scene with people walking, a modern multi-story building, trees, a city bus labeled &quot;Clean Air Vehicle,&quot; and scattered orange traffic cones." class="wp-image-280044"/><figcaption class="wp-element-caption">The Serif SF at 960 Market Street opened in 2022 during the latest residential market contraction, fueled by an exodus of office workers and high interest rates.</figcaption></figure>

A sliding glass door opens to a solarium to the rooftop at Serif SF at 960 Market Street on Thursday, May 30, 2024. For San Francisco homebuyers, downtown condos are typically the best deals in town but available condominiums (condos) seem to have cooled and real estate agents are now stuck with empty units for extended periods of time.


<figure class="wp-block-image size-large"><img src="https://content.sfstandard.com/wp-content/uploads/2024/05/inlined02_20240531-newemptycondos.jpg?w=2500" alt="A modern room with large windows, couches, a person standing, bookshelves, a table with chairs, and some greenery inside and outside. The room has an outdoor view." class="wp-image-280045"/><figcaption class="wp-element-caption">A sliding glass door opens to a solarium to the rooftop at Serif SF at 960 Market St. The building is stuffed with other luxury amenities including a pet spa and sharable ZipCars.</figcaption></figure>


Historically, condos have served as a sort of stepping stone for younger buyers in between renting and owning a single-family home, said Robyn Kaufman, a longtime real estate agent who specializes in downtown high-rises. “The past two years have thrown a wrench in many of those plans,” she said.&nbsp;

<p>Historically, condos have served as a sort of stepping stone for younger buyers in between renting and owning a single-family home, said Robyn Kaufman, a longtime real estate agent who specializes in downtown high-rises. “The past two years have thrown a wrench in many of those plans,” she said.&nbsp;</p>

Since mortgages are still prohibitively expensive for many because of high interest rates, motivated sellers are beginning to acknowledge it’s time to meet buyers where they are. That means price cuts of more than 25% off the top of the market.&nbsp;&nbsp;

<p>Since mortgages are still prohibitively expensive for many because of high interest rates, motivated sellers are beginning to acknowledge it’s time to meet buyers where they are. That means price cuts of more than 25% off the top of the market.&nbsp;&nbsp;</p>

Builders of these new properties are also driven to get properties off their hands. “[Individual] sellers might not have the room or motivation to budge on their price,” Kaufman said. “But a developer does. They want the building to sell out as quickly as possible so they can get out.”&nbsp;

<p>Builders of these new properties are also driven to get properties off their hands. “[Individual] sellers might not have the room or motivation to budge on their price,” Kaufman said. “But a developer does. They want the building to sell out as quickly as possible so they can get out.”&nbsp;</p>

The Mid-Market faithful: Life inside San Francisco’s office dead zone

sf-standard/related-post

Is this ceiling-mounted bed in a tiny, $600,000+ studio the future of SF living?

San Francisco hopes college students can save downtown. This university is already trying

sf-standard/related-posts-container

In real estate, timing is everything. Consider the Serif, for example, which contains 242 units. The luxury complex, with views of Market Street on one side and Turk Street on the other, opened in 2022 in the midst of a residential market contraction. Today, it is still less than half occupied. As a result, studios originally priced at around $500,000 are now being listed for about $350,000.&nbsp;

<p>In real estate, timing is everything. Consider the Serif, for example, which contains 242 units. The luxury complex, with views of Market Street on one side and Turk Street on the other, opened in 2022 in the midst of a residential market contraction. Today, it is still less than half occupied. As a result, studios originally priced at around $500,000 are now being listed for about $350,000.&nbsp;</p>

Local developer Group I conceived of the project back when an influx of new housing was built to meet the demand of tech companies flocking to Mid-Market. The Serif includes a fitness center, a pet spa, a rooftop lounge, and even ZipCars for residents to share. The white modernist flatiron-style building is also connected to the newly opened 236-room Line Hotel and a branch of LA cult-favorite café Alfred Coffee on the ground floor.&nbsp;

<p>Local developer Group I conceived of the project back when an influx of new housing was built to meet the demand of tech companies flocking to Mid-Market. The Serif includes a fitness center, a pet spa, a rooftop lounge, and even ZipCars for residents to share. The white modernist flatiron-style building is also connected to the newly opened 236-room Line Hotel and a branch of LA cult-favorite café Alfred Coffee on the ground floor.&nbsp;</p>

A Market Street-facing condo on the market at Serif SF at 960 Market Street on Thursday, May 30, 2024. For San Francisco homebuyers, downtown condos are typically the best deals in town but available condominiums (condos) seem to have cooled and real estate agents are now stuck with empty units for extended periods of time.


<figure class="wp-block-image size-large is-resized"><img src="https://content.sfstandard.com/wp-content/uploads/2024/05/inlined06_20240531-newemptycondos.jpg?w=2500" alt="A modern living room with wooden chairs around a black table, a large window, a plant, a white cabinet, and a vibrant painting on a white wall." class="wp-image-280049" style="width:670px;height:auto"/><figcaption class="wp-element-caption">At least half of the 242 units at the Serif SF are still on the market. </figcaption></figure>


The Lumina towers seen from a soon to be on the market unit at The Metropolitan at 333 1st Street on Thursday, May 30, 2024. For San Francisco homebuyers, downtown condos are typically the best deals in town but available condominiums (condos) seem to have cooled and real estate agents are now stuck with empty units for extended periods of time.


<figure class="wp-block-image size-large"><img src="https://content.sfstandard.com/wp-content/uploads/2024/05/inlined05_20240531-newemptycondos.jpg?w=2500" alt="The image shows several tall glass skyscrapers closely packed together, reflecting the sky and neighboring buildings. The buildings have a modern, sleek design." class="wp-image-280048"/><figcaption class="wp-element-caption">The Lumina towers seen from a soon to be on the market unit at The Metropolitan at 333 1st Street. San Francisco&#8217;s eastern waterfront transformed in the last 20 years from an industrial center.</figcaption></figure>


<figure class="wp-block-image size-large"><img src="https://content.sfstandard.com/wp-content/uploads/2024/05/inlined05_20240531-newemptycondos.jpg?w=2500" alt="The image shows several tall glass skyscrapers closely packed together, reflecting the sky and neighboring buildings. The buildings have a modern, sleek design." class="wp-image-280048"/><figcaption class="wp-element-caption">The Lumina towers seen from a soon to be on the market unit at The Metropolitan at 333 1st Street. San Francisco's eastern waterfront transformed in the last 20 years from an industrial center.</figcaption></figure>

<figure class="wp-block-image size-large"><img src="https://content.sfstandard.com/wp-content/uploads/2024/05/inlined05_20240531-newemptycondos.jpg?w=2500" alt="The image shows several tall glass skyscrapers closely packed together, reflecting the sky and neighboring buildings. The buildings have a modern, sleek design." class="wp-image-280048"/><figcaption class="wp-element-caption">The Lumina towers seen from a soon to be on the market unit at The Metropolitan at 333 1st Street. San Francisco&#8217;s eastern waterfront transformed in the last 20 years from an industrial center.</figcaption></figure>

“You’re only going to get those sorts of amenities in downtown,” said realtor Nick Spangler, who showed The Standard another brand new condo down the street at 588 Minna St.&nbsp;

<p>“You’re only going to get those sorts of amenities in downtown,” said realtor Nick Spangler, who showed The Standard another brand new condo down the street at 588 Minna St.&nbsp;</p>

The seller purchased the unit last year for $475,000 in anticipation of moving to San Francisco, but has now listed it for sale at the same price after those plans fell apart.&nbsp;

<p>The seller purchased the unit last year for $475,000 in anticipation of moving to San Francisco, but has now listed it for sale at the same price after those plans fell apart.&nbsp;</p>

The building, known as OneEleven, is a collection of 39 units, and is also only about half full. When it first opened in 2021, online reviews skewered the property for its proximity to the corner of 7th and Market Street, which has <a href="https://sfstandard.com/2023/10/27/san-francisco-drug-crisis-worst-corner-un-plaza-sfpd-enforcement/">struggled with issues around drug dealing and crime</a>.&nbsp;

24 hours at SF&#8217;s worst drug corner: The city&#8217;s struggle to control Seventh and Market

<p>The building, known as OneEleven, is a collection of 39 units, and is also only about half full. When it first opened in 2021, online reviews skewered the property for its proximity to the corner of 7th and Market Street, which has <a href="https://sfstandard.com/2023/10/27/san-francisco-drug-crisis-worst-corner-un-plaza-sfpd-enforcement/">struggled with issues around drug dealing and crime</a>.&nbsp;</p>

But the <a href="https://www.sfchronicle.com/sf/article/s-f-new-hotels-troubled-street-18465754.php">recent reopenings of three hotels</a> across the street from OneEleven late last year have improved street conditions drastically, according to Spangler. During a recent visit last week, the entrance and alleyway flanking the property were clean and clear.&nbsp;

<p>But the <a href="https://www.sfchronicle.com/sf/article/s-f-new-hotels-troubled-street-18465754.php">recent reopenings of three hotels</a> across the street from OneEleven late last year have improved street conditions drastically, according to Spangler. During a recent visit last week, the entrance and alleyway flanking the property were clean and clear.&nbsp;</p>

Looking down at Market Street from the rooftop at Serif SF located at 960 Market Street on Thursday, May 30, 2024. For San Francisco homebuyers, downtown condos are typically the best deals in town but available condominiums (condos) seem to have cooled and real estate agents are now stuck with empty units for extended periods of time.


<figure class="wp-block-image size-large"><img src="https://content.sfstandard.com/wp-content/uploads/2024/05/inlined04_20240531-newemptycondos.jpg?w=2500" alt="This image shows a busy urban street lined with buildings, trees, and red bus lanes, with skyscrapers in the background under a clear blue sky." class="wp-image-280047"/><figcaption class="wp-element-caption">The luxury complex Serif which has spectacular views of downtown, is still less than half occupied and the studios originally priced at roughly $500,000 are now being listed near $350,000.&nbsp;</figcaption></figure>


“Everyone who’s toured recently has been pleasantly surprised,” Spangler said.

<p>“Everyone who’s toured recently has been pleasantly surprised,” Spangler said.</p>

According to Compass data, the median price for a downtown San Francisco condo right now is just shy of $1 million. In areas close to Van Ness and Civic Center, that number drops as low as $590,000. In contrast, the median price for a single-family home, depending on the neighborhood, ranges between $1 million to $6.7 million.&nbsp;

<p>According to Compass data, the median price for a downtown San Francisco condo right now is just shy of $1 million. In areas close to Van Ness and Civic Center, that number drops as low as $590,000. In contrast, the median price for a single-family home, depending on the neighborhood, ranges between $1 million to $6.7 million.&nbsp;</p>

Spangler and Kaufman are practicing what they preach to prospective buyers in choosing downtown over other neighborhoods. Spangler himself lives at One Rincon Hill and Kaufman at The Metropolitan—both skyscrapers erected in the 2000s as San Francisco’s eastern waterfront started its transformation from an industrial center.

<p>Spangler and Kaufman are practicing what they preach to prospective buyers in choosing downtown over other neighborhoods. Spangler himself lives at One Rincon Hill and Kaufman at The Metropolitan—both skyscrapers erected in the 2000s as San Francisco’s eastern waterfront started its transformation from an industrial center.</p>

Before then, the city’s condo stock was concentrated on the north side of the city, where the best views of the bay were. However, restrictive height and density limits meant new developments were scarce, thus driving sale prices and maintenance costs up as those buildings aged.&nbsp;

<p>Before then, the city’s condo stock was concentrated on the north side of the city, where the best views of the bay were. However, restrictive height and density limits meant new developments were scarce, thus driving sale prices and maintenance costs up as those buildings aged.&nbsp;</p>

Real estate agent Nicholas Spangler inside unit #705 at OneEleven at 588 Minna Street on Thursday, May 30, 2024. For San Francisco homebuyers, downtown condos are typically the best deals in town but available condominiums (condos) seem to have cooled and real estate agents are now stuck with empty units for extended periods of time.


<figure class="wp-block-image size-large"><img src="https://content.sfstandard.com/wp-content/uploads/2024/05/inlined03_20240531-newemptycondos.jpg?w=2500" alt="A tidy and brightly lit room with modern furniture features a man standing near a window. The room includes a sofa, round coffee table, large paintings, and houseplants." class="wp-image-280046"/><figcaption class="wp-element-caption">Real estate agent Nicholas Spangler inside a new condo for sale at OneEleven at 588 Minna Street. The seller is listing the home for the same price they paid for it last year. </figcaption></figure>


Real estate agent Robyn Kaufman in a soon to be on the market unit at The Metropolitan at 333 1st Street on Thursday, May 30, 2024. For San Francisco homebuyers, downtown condos are typically the best deals in town but available condominiums (condos) seem to have cooled and real estate agents are now stuck with empty units for extended periods of time.


<figure class="wp-block-image size-large"><img src="https://content.sfstandard.com/wp-content/uploads/2024/05/inlined08_20240531-newemptycondos.jpg?w=2500" alt="A woman stands in an empty, sunlit room with large floor-to-ceiling windows showcasing a cityscape of tall buildings, and she points towards the outside view." class="wp-image-280051"/><figcaption class="wp-element-caption">Real estate agent Robyn Kaufman in a soon to be on the market condo at The Metropolitan. In today&#8217;s market, she thinks the 1,200 square feet unit can fetch around $1.5 million. </figcaption></figure>


<figure class="wp-block-image size-large"><img src="https://content.sfstandard.com/wp-content/uploads/2024/05/inlined08_20240531-newemptycondos.jpg?w=2500" alt="A woman stands in an empty, sunlit room with large floor-to-ceiling windows showcasing a cityscape of tall buildings, and she points towards the outside view." class="wp-image-280051"/><figcaption class="wp-element-caption">Real estate agent Robyn Kaufman in a soon to be on the market condo at The Metropolitan. In today's market, she thinks the 1,200 square feet unit can fetch around $1.5 million. </figcaption></figure>

<figure class="wp-block-image size-large"><img src="https://content.sfstandard.com/wp-content/uploads/2024/05/inlined08_20240531-newemptycondos.jpg?w=2500" alt="A woman stands in an empty, sunlit room with large floor-to-ceiling windows showcasing a cityscape of tall buildings, and she points towards the outside view." class="wp-image-280051"/><figcaption class="wp-element-caption">Real estate agent Robyn Kaufman in a soon to be on the market condo at The Metropolitan. In today&#8217;s market, she thinks the 1,200 square feet unit can fetch around $1.5 million. </figcaption></figure>

Therefore, if you’re a buyer in the market, downtown is the place to go if you’re looking for the best value, Kaufman says. “Don’t just think of it as negotiating on price,” she said. “Depending on the developer, you can get credit back towards upgrades [renovations], HOA dues, or even bigger storage units.”&nbsp;

<p>Therefore, if you’re a buyer in the market, downtown is the place to go if you’re looking for the best value, Kaufman says. “Don’t just think of it as negotiating on price,” she said. “Depending on the developer, you can get credit back towards upgrades [renovations], HOA dues, or even bigger storage units.”&nbsp;</p>

Vacant Hayes Valley condos tied to embattled Chinese billionaire could become rentals

Here’s why this ‘viral’ San Francisco condo is selling for nearly half price

Buying San Francisco: Which starter condo near downtown would you pick for $500K?

Whereas for truly motivated sellers, Kaufman said there’s a fine line between sparking a bidding war and languishing on the market.&nbsp;

<p>Whereas for truly motivated sellers, Kaufman said there’s a fine line between sparking a bidding war and languishing on the market.&nbsp;</p>

Recently, a $50,000 haircut helped move a sale along for her client at 333 Bush St., a rare commercial skyscraper with condos on the top seven floors.&nbsp;

<p>Recently, a $50,000 haircut helped move a sale along for her client at 333 Bush St., a rare commercial skyscraper with condos on the top seven floors.&nbsp;</p>

“At the end of the day, the buyer has to feel like they got a good deal too,” she said.

<p>“At the end of the day, the buyer has to feel like they got a good deal too,” she said.</p>

Brand new downtown condos are selling for deep discounts—or just sitting empty

Rohin Dhar

<em>This is &#8220;<a href="https://sfstandard.com/tag/the-find/">The Find,</a>&#8221; an obsessive house hunter&#8217;s index of the four best San Francisco real estate buys of the moment. </em>

<p><em>This is "<a href="https://sfstandard.com/tag/the-find/">The Find,</a>" an obsessive house hunter's index of the four best San Francisco real estate buys of the moment. </em></p>

<p><em>This is &#8220;<a href="https://sfstandard.com/tag/the-find/">The Find,</a>&#8221; an obsessive house hunter&#8217;s index of the four best San Francisco real estate buys of the moment. </em></p>

Here’s a little secret you may have heard about San Francisco real estate: Summer is slow.&nbsp;

<p>Here’s a little secret you may have heard about San Francisco real estate: Summer is slow.&nbsp;</p>

If you go to an open house in August, you might notice it’s pindrop quiet; people are on vacation and don’t have real estate on their minds. For the savvy homebuyer, however, the lack of competition is a gift. While others are galavanting around Europe (or wakesurfing in Tahoe), it’s your time to strike.

<p>If you go to an open house in August, you might notice it’s pindrop quiet; people are on vacation and don’t have real estate on their minds. For the savvy homebuyer, however, the lack of competition is a gift. While others are galavanting around Europe (or wakesurfing in Tahoe), it’s your time to strike.</p>

Let&#8217;s see what deals we can find this week.&nbsp;

<p>Let's see what deals we can find this week.&nbsp;</p>

<p>Let&#8217;s see what deals we can find this week.&nbsp;</p>

core/separator

<a style="" href="https://www.realtor.com/realestateandhomes-detail/630-Leavenworth-St-Apt-1_San-Francisco_CA_94109_M21979-04708">Two-bedroom house in Twin Peaks: $1.395 million</a><span id="docs-internal-guid-fc224628-7fff-8218-a07d-d9215bc432cd" style="font-weight:normal;"><br><span style="background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline;"></span></span>


<h2 class="wp-block-heading" id="h-two-bedroom-house-in-twin-peaks-1-395-million"><a style="" href="https://www.realtor.com/realestateandhomes-detail/630-Leavenworth-St-Apt-1_San-Francisco_CA_94109_M21979-04708">Two-bedroom house in Twin Peaks: $1.395 million</a><span id="docs-internal-guid-fc224628-7fff-8218-a07d-d9215bc432cd" style="font-weight:normal;"><br><span style="background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline;"></span></span></h2>


core/heading

<h2 class="wp-block-heading" id="h-two-bedroom-house-in-twin-peaks-1-395-million"><a style="" href="https://www.realtor.com/realestateandhomes-detail/630-Leavenworth-St-Apt-1_San-Francisco_CA_94109_M21979-04708">Two-bedroom house in Twin Peaks: $1.395 million</a><span id="docs-internal-guid-fc224628-7fff-8218-a07d-d9215bc432cd" style="font-weight:normal;"><br><span style="background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline;"></span></span></h2>

core/gallery

Follow Market Street out of downtown, past the Castro, and the elevation keeps rising. (Same with the prices, usually.) You’ve found yourself in the Twin Peaks neighborhood, teetering just above Noe Valley.&nbsp;

<p>Follow Market Street out of downtown, past the Castro, and the elevation keeps rising. (Same with the prices, usually.) You’ve found yourself in the Twin Peaks neighborhood, teetering just above Noe Valley.&nbsp;</p>

Here you’ll have some of the most spectacular views of the city, which you can appreciate from the large wooden decks (that’s right, there are two of them) on this modern, updated, 1,600-square-foot house.

<p>Here you’ll have some of the most spectacular views of the city, which you can appreciate from the large wooden decks (that’s right, there are two of them) on this modern, updated, 1,600-square-foot house.</p>

Single-family homes tend to have multiple bidders and sell for higher than the asking price. But this home in particular has the potential for greater value — the large lot may enable construction of an in-law unit. During the high sales season, this home might ignite a bidding war — will the slow summer season change its fortune?

<p>Single-family homes tend to have multiple bidders and sell for higher than the asking price. But this home in particular has the potential for greater value — the large lot may enable construction of an in-law unit. During the high sales season, this home might ignite a bidding war — will the slow summer season change its fortune?</p>

https://www.realtor.com/realestateagents/danny-yadegar_san-francisco_ca_2951000

sf-standard/infobox

<div class="wp-block-sf-standard-infobox"><ul><li><a href="https://maps.apple.com/?address=3815+Market+St.%0A">3815 Market St.
</a></li><li><a href="https://www.realtor.com/realestateagents/danny-yadegar_san-francisco_ca_2951000">Danny Yadegar, Generation Real Estate</a></li></ul></div>

<a style="" href="https://www.realtor.com/realestateandhomes-detail/301-Main-St-Unit-35F_San-Francisco_CA_94105_M22445-56990">Two-bedroom condo in SoMa: $1.899 million</a><strong><a href="https://www.realtor.com/realestateandhomes-detail/301-Main-St-Unit-35F_San-Francisco_CA_94105_M22445-56990"><br></a></strong><span id="docs-internal-guid-27dedf5c-7fff-f9e0-0c10-727b49531b9a"></span>


<h2 class="wp-block-heading" id="h-two-bedroom-condo-in-soma-1-899-million"><a style="" href="https://www.realtor.com/realestateandhomes-detail/301-Main-St-Unit-35F_San-Francisco_CA_94105_M22445-56990">Two-bedroom condo in SoMa: $1.899 million</a><strong><a href="https://www.realtor.com/realestateandhomes-detail/301-Main-St-Unit-35F_San-Francisco_CA_94105_M22445-56990"><br></a></strong><span id="docs-internal-guid-27dedf5c-7fff-f9e0-0c10-727b49531b9a"></span></h2>


Think you could buy a burrito in San Francisco today at about the same price as it was in 2014? Hardly — but you can with downtown real estate. After years of stratospheric increases, some condos near the water are selling for around the same price as they did a decade ago.

<p>Think you could buy a burrito in San Francisco today at about the same price as it was in 2014? Hardly — but you can with downtown real estate. After years of stratospheric increases, some condos near the water are selling for around the same price as they did a decade ago.</p>

Still, you’ll pay a premium for the views and luxury amenities. This 1,323-square-foot condo isn’t cheap, but it’s among the lowest-priced in the area for this combination of size and stunning views of the bay, in a building with a full-time concierge, pool and fitness center. Accordingly, the HOA fee is also not for the faint of heart: $1,230 a month.&nbsp;

<p>Still, you’ll pay a premium for the views and luxury amenities. This 1,323-square-foot condo isn’t cheap, but it’s among the lowest-priced in the area for this combination of size and stunning views of the bay, in a building with a full-time concierge, pool and fitness center. Accordingly, the HOA fee is also not for the faint of heart: $1,230 a month.&nbsp;</p>

But the unit comes with a parking spot and is convenient to downtown offices or transportation to Silicon Valley. And should Downtown bounce back from its post-Covid doldrums, the value of these condos may very well bounce back as well.

<p>But the unit comes with a parking spot and is convenient to downtown offices or transportation to Silicon Valley. And should Downtown bounce back from its post-Covid doldrums, the value of these condos may very well bounce back as well.</p>

https://www.realtor.com/realestateagents/Charlene-T-Gueco_San-Francisco_CA_100004767

Charlene T. Gueco and Kevin Gueco, Kinoko

<div class="wp-block-sf-standard-infobox"><ul><li><a href="https://maps.apple.com/?address=301+Main+St.%2C+35F%2C+at+Folsom+St.%0A">301 Main St., 35F, at Folsom St.
</a></li><li><a href="https://www.realtor.com/realestateagents/Charlene-T-Gueco_San-Francisco_CA_100004767">Charlene T. Gueco and Kevin Gueco, Kinoko</a></li></ul></div>

<a href="https://www.realtor.com/realestateandhomes-detail/630-Leavenworth-St-Apt-1_San-Francisco_CA_94109_M21979-04708">Two-bedroom tenancy-in-common downtown: $729,000</a>


<h2 class="wp-block-heading" id="h-two-bedroom-tenancy-in-common-downtown-729-000"><a href="https://www.realtor.com/realestateandhomes-detail/630-Leavenworth-St-Apt-1_San-Francisco_CA_94109_M21979-04708">Two-bedroom tenancy-in-common downtown: $729,000</a></h2>


Feeling baroque, anyone? The ornate home’s well-crafted features include a custom mural on the domed ceiling of the dining room and delicately painted wall moldings. The sumptuous feel extends into the marble-heavy kitchen. The combined effect is a sense of turn-of-the-century luxury in a Beaux-Arts building near Union Square, the Tenderloin and Nob Hill.

<p>Feeling baroque, anyone? The ornate home’s well-crafted features include a custom mural on the domed ceiling of the dining room and delicately painted wall moldings. The sumptuous feel extends into the marble-heavy kitchen. The combined effect is a sense of turn-of-the-century luxury in a Beaux-Arts building near Union Square, the Tenderloin and Nob Hill.</p>

Listed at $729,000, it is priced on the lower end of two-bedroom units in the city. This is a tenancy-in-common, a structure in which you own a percentage of the building (similar to a New York city co-op), versus a condo, in which you own your unit and share of the common space.&nbsp;

<p>Listed at $729,000, it is priced on the lower end of two-bedroom units in the city. This is a tenancy-in-common, a structure in which you own a percentage of the building (similar to a New York city co-op), versus a condo, in which you own your unit and share of the common space.&nbsp;</p>

Traditionally, TICs sell for less than condos, partially because they can be difficult to finance unless all owners in the building are co-signers on a single loan. If someone in the building stops paying their share of the mortgage, the rest of the owners would be on the hook.&nbsp;

<p>Traditionally, TICs sell for less than condos, partially because they can be difficult to finance unless all owners in the building are co-signers on a single loan. If someone in the building stops paying their share of the mortgage, the rest of the owners would be on the hook.&nbsp;</p>

These days, however,&nbsp;specialized loan products exist for TICs, so you are not necessarily liable if someone else in the building defaults on their loan. However, there is still shared risk, such as with <a href="https://sfassessor.org/sites/default/files/uploaded/ASR_Factsheet_TIC.pdf">property taxes</a>, which must be paid in full regardless if one owner hasn’t paid their share.&nbsp;

<p>These days, however,&nbsp;specialized loan products exist for TICs, so you are not necessarily liable if someone else in the building defaults on their loan. However, there is still shared risk, such as with <a href="https://sfassessor.org/sites/default/files/uploaded/ASR_Factsheet_TIC.pdf">property taxes</a>, which must be paid in full regardless if one owner hasn’t paid their share.&nbsp;</p>

The unit has a $900 a month HOA fee and does not include parking — also a factor in the low price. But, again, have you seen those moldings?!

<p>The unit has a $900 a month HOA fee and does not include parking — also a factor in the low price. But, again, have you seen those moldings?!</p>

https://www.realtor.com/realestateagents/Priya-Agrawal_San-Francisco_CA_2779296_619679338

<div class="wp-block-sf-standard-infobox"><ul><li><a href="https://maps.apple.com/?address=630+Leavenworth+St%2C+Apt.+1%2C+nr.+Post+St.">630 Leavenworth St, Apt. 1, nr. Post St.</a></li><li><a href="https://www.realtor.com/realestateagents/Priya-Agrawal_San-Francisco_CA_2779296_619679338">Laura Pallin, Vantage Realty</a></li></ul></div>

<a style="" href="https://www.google.com/url?q=https://www.realtor.com/realestateandhomes-detail/825-LA-Playa-St-Apt-228_San-Francisco_CA_94121_M29036-59965&amp;sa=D&amp;source=docs&amp;ust=1723241450958131&amp;usg=AOvVaw2NpOWzcNckBKfCkI91-rQv">One-bedroom condo in Outer Richmond: $749,000</a>


<h2 class="wp-block-heading" id="h-one-bedroom-condo-in-outer-richmond-749-000"><a style="" href="https://www.google.com/url?q=https://www.realtor.com/realestateandhomes-detail/825-LA-Playa-St-Apt-228_San-Francisco_CA_94121_M29036-59965&amp;sa=D&amp;source=docs&amp;ust=1723241450958131&amp;usg=AOvVaw2NpOWzcNckBKfCkI91-rQv">One-bedroom condo in Outer Richmond: $749,000</a></h2>


Brand new downtown condos are selling for deep discounts—or just sitting empty

A single-family home, a view worth a fortune, and a price that seems low for the neighborhood

3 hidden real estate gems under $1.25M — and one price-cut mansion for $12M

Here’s why this ‘viral’ San Francisco condo is selling for nearly half price

The Find: Sizing up four SF home listings, from micro to mansion

Search Results for: condo

Brand new downtown condos are selling for deep discounts—or just sitting empty

A single-family home, a view worth a fortune, and a price that seems low for the neighborhood

3 hidden real estate gems under $1.25M — and one price-cut mansion for $12M

Here’s why this ‘viral’ San Francisco condo is selling for nearly half price

The Find: Sizing up four SF home listings, from micro to mansion