Remarkable Two-Bedroom Fetches Less Than Its 2014 Price

301 Main Street #29A
Remarkable Two Bedroom Now Listed for Well Below Its Price

As we outlined last October:

Priced at $2.345 million in early 2014, the “remarkable” two-bedroom, two-bath unit #29A with a 200-square-foot terrace near the top of the Infinity tower at 301 Main Street sold for $2.1 million, or roughly $1,656 per square foot, that November, four months after the plans for a twisty 400-foot tower to rise across the street had been unveiled.

This past August [2018], the “quintessential waterfront” unit with “the ultimate entertainers floor plan” and “custom finishes throughout,” including built-in A/V equipment, hardwood floors and mechanical shades, returned to the market listed for $2.099 million, a sale at which would have effectively represented a push in terms of appreciation for the two-bedroom over the past four years.

And having been reduced to $1.999 million [in September], 301 Main Street #29A remains on the market and listed as available inventory in San Francisco.

As we added earlier this month:

Newly listed for $2.099 million this past May and then withdrawn from the MLS after “three weeks on the market,” 301 Main Street #29A has just been listed anew with another official “1” day on the market (at least according to all industry stats) and a reduced (although not according to industry stats) list price of “$1.899 million,” a sale at which would represent depreciation of 9.5 percent for the luxury two-bedroom unit on an apples-to-apples, versus “median price,” basis since the end of 2014.

And the sale of 301 Main Street #29A has now officially closed escrow with only “14 days on the market” and an “over asking” contract price of $1.9 million, which certainly isn’t “cheap” at nearly $1,500 per square foot but was 9.5 percent cheaper than in the fourth quarter of 2014 on an apples-to-apples basis.

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