NNN Brokers USA – San Francisco Commercial Real Estate Brokers: "The Scoop"

Rents in San Francisco have gone down a modest 5.6 percent over the last year, according to a nationwide rental analysis. That’s compared to a drop across the country of 3.7 percent, a Bay Area drop of 7.5 percent, and a 26.4 percent increase in the city over the past four years. So all in all, the upward trajectory of rents hasn’t really changed much. Average rent in the city: $2,270. [SFGate]

In March of this year, Oakland-based AF Evans Co. filed for bankruptcy protection, citing what else but the big crunch. At the time, the would-be developer of a huge mixed-use development at 55 Laguna put on a brave face for the SF Business Times by explaining that they would continue to seek development projects. Optimism was maybe not in short supply over at AF Evans— their website to this day projects completion of Vidrio, a 195-unit project in Pittsburg, in summer 2008. Sassy! In fact, according to a report by the SFBT yesterday, the city of Pittsburg now plans to put down $9.2 mil to buy and finish Vidrio, whose construction was halted at 90 percent done when it was foreclosed by the project lender. For the record, AF Evans has said that 55 Laguna would only experience “minimal impact.”
· Pittsburg to buy stalled condo project [SFBT]
· 55 Laguna is OK! [Curbed SF]
· Bad News for 55 Laguna? [Curbed SF]
· Berkeley Hayes Valley Extension Redesign Approved [Curbed SF]

• 37% of SFDs (that sold) went pending within 30 days and those sales closed on average at 102.5% of list price
• 24% of Condos (that sold) went pending within 30 days and those sales closed on average at 99% of list price
• 16% of TICs (that sold) went pending within 30 days and those sales closed on average at 99% of list price
• 60% of REO SFDs (that sold) went pending within 30 days and those sales closed on average at 106.6% of list price

  To go pending within 30 days, typically a listing would ratify within 15 days of going on market.

If a reader is correct, 2151 Green Street ended up selling at auction on 10/15 for $3,066,001, one dollar over its opening bid. That being said, 2151 Green Street is still listed as an active short sale seeking $6,900,000…

Topped out in June, the 24-story and 165-unit One Hawthorne is close to be closed in. And as a plugged-in reader notes, the building would likely be one of the biggest indirect beneficiaries of a relocated Fire Station Number…

The bank-owned sale of the two bedroom Watermark (501 Beale) #12G closed escrow on 10/13/09 with a reported contract price of $750,000 ($727 per square foot), that’s $10,000 less than what was owned on the first mortgage at the time…

Purchased for $760,100 in November of 2004 but then taken back by the bank in July, the sale of 10 South Park #1 closed escrow on 10/16/09 with a reported contract price of $611,300 ($511 per square foot). That’s…

Added to our Curb Appeal archives in 2005, and answering questions about the architect (Brad Polvorosa) and landscape designer (Peter Kline) in 2006, the Laurel Heights home wasn’t on the market at the time. But now 104 Collins is…

While a legislative bill that would have allowed the Port of San Francisco to raise funds for the cleanup of Pier 70 and its preparation for development passed in both houses, Governor Schwarzenegger has vetoed the bill. ∙ JustQuotes:…

“The [595 acres] of chaparral-covered land 15 miles outside of Marysville had been slated to be bulldozed for homes. But the bottom dropped out of the economy and the plan to build homes was yanked, allowing the [the San Francisco-based…