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Tuesday, May 8, 2012

Real Estate Sold: Three Top Residential Sales For the Past Week

× Like us and you'll find top breaking news in your Facebook newsfeed. Sign up for our daily email newsletter and get top stories and breaking news delivered to your inbox. Tuesday, May 1, 2012, by Philip Ferrato

There were 87 closings this past week. Here are the three most expensive. Two of them, both Pacific Heights— a co-op and a condo— sold for under asking after languishing on the market. Is this a trend?

2012_05_01_expensive1.jpgListed for: $4,350,000
Received: $4,000,000
Size: 3-beds, 3-baths
Location: 1940 Broadway, No.6, Pacific Heights
The Story: One of those vast, full-floor co-ops that some people dream about, with incredible views, this sold seven months after listing for $200,000 less than the owners paid in March, 2011 and a whopping $911,000 less than the previous owner paid in March, 2008. March is the cruelest month. Probably unrenovated since the '50s, this looks like a succession of rich-people holds and we seriously doubt anyone's lived there since 2007.

2012_05_01_expensive2.jpgListed for: $2,995,000
Received: $3,005,000
Size: 4-beds, 3.5-baths
Location: 1340 Cole Street, Parnassus/Cole Valley
The Story: This "sophisticated" if somewhat bland Edwardian house in the "heart of Cole Valley" went for $10K over asking. Great bathrooms, however. There may have been a bidding war— or skirmish— over the move-in ready house, which closed in under six weeks. Well done!

2012_05_01_expensive3.jpgListed for: $1,849,000
Received: $1,780,000
Size: 3-bed, 3-bath
Location: 2635 Buchanan Street, Pacific Heights
The Story: In a 2-unit Edwardian building, this big classic flat with a garden sold within about six weeks, but it had been on the market for six months back in 2011. The sellers paid $1,780,000 for the condo in 2007, and this time around they had to pay the agent's fee and transfer taxes.


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