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

[Untitled via Curbed Flickr Pool/mike n]

· A couple natives complain about SF and then move out of it [SF Gate]
· Andronico’s declares bankruptcy [Inside Schoop]
· Take a look at some photos of the Alamo Square Flea Market [SFBG]
· Hudson River’s coolest, oldest floating home [Curbed NY]
· After a decade, Berkeley brings home bowling “Meat Axe” [Berkeleyside]

“We’re doing our due diligence to make sure we hear from the community and these designs are community drive,” Rec and Park spokeswoman Connie Chan said. “It’s a process, it takes time, but we are committed to it.” Every single park improvement project that was funded by a 2008-voter-approved bond have been delayed, reports the SF Examiner. The department says the delays are caused by extended community outreach. Recreation and Park Department officials say that although the projects are delayed, they’re happy to report that they’re all on budget. [SF Examiner/photo via potential past]

[Street Waffle via Curbed Flickr Pool/Esther Reyes]

· Other ways to get over the Bay Bridge tonight [Mission Loc@l]
· How will I know if tenants are maintaining my property? [Zillow Blog]
· Best of Burning Man: Photos from festivals past [SF Gate]
· 49ers president says team wants to skip preseason game against Raiders [SF Appeal]
· A word of advice to newish graffiti artists [Mission Mission]
· Inside the 25-pound face of Giants mascot Lou Seal [SF Gate]

“I lived at a 1/2 once and got my mail about 1/2 of the time.” –
mommy dearest [Now's Your Chance To Score a 1/2 Address]

We’ve got four PriceChoppers we’re sharing with you today:

1. Unit #4802 at One Rincon Hill has been sitting pretty for 81 days. The condo is currently asking $1,399,000, which is $30,000 less than its last listed price. It’s a 2-bed, 2-bath, 1,309-square-foot unit on the south east corner of the building. Monthly HOA dues are $780 and there’s 1-car parking in the garage.

2. There’s a 2-bed, 2-bath unit at the Palms that’s so desperate to find a buyer that it’s already reduced its price, even though it’s been on the market for less than a month. Originally listed for $650,000; 27 days later it’s $639,000. Monthly HOA dues are $516 and there’s 1-car parking in the garage.

3. 400 Beale (aka Bridgeview) has a 1-bed, 1-bath unit that’s being described as a perfect pied-à-terre. Originally listed for $559,000 in early July, it’s now asking $545,000. Monthly HOA dues are $581 and there’s 1-car parking in the garage.

4. There’s a 1-bed, 1-bath BMR (below market rate) condo in Nopa that’s asking $308,000. As always, you must be a first-time homebuyer and income eligible. Originally listed for $362,368, it’s now $308,000. Monthly HOA dues are $444.53 and there’s 1-car parking in the garage.
· 425 1st Street, #4802 [Redfin]
· 555 4th Street, #722 [Redfin]
· 400 Beale Street, #1902 [Redfin]
· 2001 McAllister Street, #12 [Redfin]

It’s no secret that the avenues are rich with rented apartments that are then turned into grow rooms. But who’s supposed to clean up one once it gets busted? The landlord, that’s who. A recent bust in the Parkside neighborhood earlier this week has resulted in $30,000 in damage and months of lost rent, with repairs to the floors, walls and roof, where holes were cut for ventilation, reports CBS San Francisco. “There is going to be tile work. They poured some chemicals on the marble and everything got damaged in the kitchen,” landlord Najib Batshson said. “I should have walked in to the property every couple of months to verify that everything was normal,” he said. “But honestly, I didn’t go in it for over a year.” [CBS San Francisco]

Kudos to the Chronicle’s John King for his piece today on the future recreational marinas that may appear in the the two last open water areas along the Embarcadero. As people wade through the America’s Cup Draft EIR, the questions are beginning to sound like “did we give away the store?” in the Host Agreement for the race, and King brings up the point that the Event Authority and their planners, Aecom, have identified the Cupid’s Arrow-adjacent Rincon Hill basin for temporary berthing of private spectator boats, including mega-yachts. If the Event Authority (Ellison & Friends) has to pay to dredge these two open areas to accommodate large boats, such dredging gives them the right to develop the sites into commercial recreational marinas. From the DEIR:

The Host Agreement identifies both the Rincon Point and Brannan Street Wharf Open Water Basins as locations for temporary berthing and, if the Event Authority pays to dredge the Basins, this would trigger long‐term development rights for construction of a marina in each location… development of long term marinas within the Rincon Point or Brannan Street Wharf Open Water Basins would be considered a significant and unavoidable impact.

The Event Authority is probably getting bids right now to dredge the Brannan Street basin next to Pier 30, which will be home to some of the race’s big boats, plus it’s across the street from Sea Wall Lot 330, the W-shaped lot owned by Ports that was ceded to the Event Authority for development.

Over here at Curbed SF’s A-Cup Headquarters, we’re thinking “mega-yacht”=”red herring”. It’s a loose term, but these are boats starting at 150 feet in length, and we almost never see them in the Bay Area. They cost over $20M (second-hand) and most owners defray their costs by renting them out by the week. Depending on the week, these charters start at around $300K- a week plus fuel and food. Where are these boats? In the winter, many are in the Caribbean. In the summer, they tend to be in the Northern Mediterranean, from Turkey across to Spain. They tend not to be on our Pacific Coast, except for a few hardy expedition boats, plus some in San Diego and Mexico. The East Coast of Africa to the China Sea? No way, too many pirates. So the odds of sending your empty, fully-crewed boat in August from Cannes or Calvi across the Atlantic, through the Panama Canal while it could be rented out for $500K a week to a fellow from Dubai? Not bloody likely, and we’re thinking the Rincon basin may instead become a two-year used-yacht lot for boat brokers. So be careful about giving out those dredging permits, OK?
· Cups Yacht Plans Threatens Our Wide-Open Bay Views [SF Gate]
· Fraser Partners With America’s Cup [The Triton]
· Fraser Yachts [Fraser Yachts]

Click here to view the full photogallery.

This delightful 2-bed, 1-bath, 815-square-foot condo has a half-address, which we’re quite found of because of their rarity. 222 1/2 Winfield Street just landed on the market with an asking price of $495,000, making it the latest member of our Under 500K Club. The unit’s tucked under the main home, and features an open floor plan. Highlights include bamboo flooring in the main living area, a rather large laundry room that could “double as a home office,” private deck with views of the Sutro Tower and Twin Peaks and access to the shared backyard. The Bernal Heights property has a walk score of 94. HOA dues are $87.36 and the unit does not come with parking.

· 222 1/2 Winfield [Redfin]

Battered and grey San Franciscans: weary of summer’s ruthless wind and perennial fog, or exhausted by the cruel ministrations of a moody stock market, you can take comfort in real estate news that belies all things dreary. Recession be gone! SF’s high-end real estate continues to sell on the very high-end! Our condos, despite making news this year for “tanking” sales and prices, prove entirely unwilling to concede defeat to any ostensive “sagging market”—at least among multi-million dollar units. These are the top five condo sales in San Francisco so far this year (of public record). Their opulence, not to mention their selling prices, is sure to make you second guess the recession’s existence, or at least offer temporary distraction like only luxury house porn can.

1) 765 Market St., Unit 27A is a lavish 3 bedroom unit in the Four Seasons, offering postcard-ready views from every window. Billed as the “pinnacle of urban elegance,” which one would expect with this price tag, the unit came equipped with all custom designed furniture in the condo. Sale history a bit mysterious, with a recorded price of $6,000,000 on 5/10/2011. Then, apparently some minutes later that same day, the condo sold for a reported $7,200,000. Not sure who made the (rather substantial) typo where, but either way, this is the most expensive on-record condo sale so far this year.

2) Atop the very crest of Pacific Heights is 2000 Washington St #5. It’s another 3-bed unit, this one spanning an entire floor of a building, designed by C. A. Muessdorffer, that looms over the city in a style Hitchcock would’ve adored (scenes from Vertigo, perhaps?). Interiors show heavy preference for fat, white furniture with accents of generic royal palace. The condo, which sold for $5,850,000, sold for one million dollars less than it listed for in 2010.

3 and 4) 338 Spear St. scored two luxury sales this year: unit 41B sold for a touch more than its nearby neighbor at $4,760,000. Unit 40B, the aforementioned neighbor, sold for $4,550,000.

5) Back to 765 Market St., SF’s 5th most expensive condo sold again from within the luxuriant walls of the Four Seasons. In Unit 32F, two bedrooms plus library(!), gleaming wood floors and gourmet kitchen fetched not quite what was asked for: The property listed for $4,700,000 in January. Yet the final price, $4,350,000, hardly qualifies for sneezing at. - Anna Marie

· Bay Area condominium sales, prices tanking [SF Gate]
· 765 Market Street, Unit 27A [Redfin]
· 2000 Washington Street, #5 [Redfin]
· 338 Spear Street #41B [Redfin]
· 338 Spear Street, #40B [Redfin]
· 765 Market Street, Unit 32F [Redfin]
· Real Estate Report: Watch the 34th America’s Cup Race from your own penthouse, $5.1M [CH+D]
· Pacific Heights: Trouble at the Top of the Food Chain? [Curbed SF]
· Get Yourself a Penthouse in Tower Two of The Infinity [Curbed SF]
· Luxury! Elegance! Opulence! For This 2-Bed at the Four Seasons [Curbed SF]

[Via Valley via Curbed Flickr Pool/Octoferret]

· Check out this old Muni Boeing LRV [theToastedBlog]
· Another BART protest planned for today [SF Appeal]
· Coyotes in city to stay, so protect pets and food [SF Gate]
· Hundreds of nerds gather for Berkeley’s Apple Store opening [Berkeleyside]
· San Franciscans’ rare Sierra retreat needs The City’s help [SF Examiner]