Monday, July 1, 2013

New Highest Price for Residential Property on Potrero Hill

You may recall in an earlier post I mentioned a property on the market that had negotiated an easement with their neighbor that would protect their view (something of a rarity in San Francisco).

Well, that property just closed escrow for the highest price ($3,660,000) for a residential property since records have been kept by our multiple listing service.  The property is located at 827 De Haro Street.  (Click the link for more photos and listing information).

The sales price is approximately 15% over asking.

Technically, the property is a two-unit building.  Here's the agent's public description from the MLS.  (I get a kick out of the lack of vowels.  It reminds me of when we paid for advertising by the number of characters in the ad.  Or, a more current reference, a text message version of the description.  The truth is more mundane -- our MLS still limits the description field to 750 characters -- this is just two shy of the limit).
1-of-a-kind custom Potrero Hill VIEW hm blt in 2005. 4 bdrms/3.5 baths incl 1 bdrm legal unit. Elev to every lvl, incredble VWS from every lvl & unsurpassed finishes thruout. Top lvl includes huge LR w/expansive City & Bay views, fireplac, 2 patios, open flr plan w/ dining area, all great for indoor-outdoor entertaining. Kitchen has all the bells & whistles w/ a center island. Mster ste feat a prvt patio w/ views & hot tub, huge walk-in. 3 bdrms on middle flr w/one perf suited for home office w/flr to ceiling blt-ins. Garden legl unit is an open flr plan w/2-tiered living/dining area, firepl & direct access to yd, also w/spectac views. The spectacular views north are protected by a recorded view easement restricting ht of neighbor's hm.
Although not included in the MLS, tax records say the building has over 5,000 sq. ft. of living space.  So, on a price per sq. ft. basis, this would be considered "a bargain" compared to most single family homes in this price range selling for upwards of $900/sq. ft.

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