The San Francisco real estate market is showing signs of recovery with properties being sold at significant discounts compared to their purchase prices. Condos and office buildings in downtown San Francisco are being listed at prices much lower than their original purchase amounts. Paramount Group is reportedly surrendering office buildings in San Francisco after defaulting on loans.
I know you can’t “time the market” But this seller lost $10MM on their San Francisco home sale at the end of 2023 And it appears the San Francisco real estate market came completely back 2 months later 😬 https://t.co/vA0cM8d7nx
A nearly $1 billion investment in downtown San Francisco office towers has been written down to zero, according to an investment firm with serious buyer’s remorse. https://t.co/3FznLCm6as
2023 San Francisco: List below the 2001 price bc you’re totally f’d😩 2024 San Francisco: List below the 2001 price to start a crazy bidding 🤑 https://t.co/0FabKEEF2x https://t.co/pR7bYaT2nI
https://t.co/MsJAfbjyim Bought for $949 million, two San Francisco offices have been marked down to zero
San Francisco downtown: Investor poised to cede two properties https://t.co/MsJAfbjyim
Paramount Group will reportedly surrender three office buildings in Downtown San Francisco after defaulting on the loan
An office complex in Downtown San Jose just sold at a huge 77% discount to what it sold for in 2019 The 325k sq ft tower sold for $34 million or $105 per sq ft What did the complex sell for in 2019? $141 million To make matters worse, the seller spent millions renovating the… https://t.co/YbSohYfhEg
Palm Springs, California Purchased April 2022 for $2.9MM Now for sale at $2.295MM Trying to understand… Why lock in a $600k loss? You can’t be losing *that much* money just holding on? https://t.co/m7fYYmSSWM
Palms Springs home for sale Purchased April 2022 for $2.9MM Now for sale at $2.295MM What’s going on here? https://t.co/lgZ7rvsRbm
Palm Springs, California Purchased April 2022 for $2.9MM Relisted for sale a year later at $3.1MM After several cuts… Now for sale at $2.295MM https://t.co/cMEJXIMEir
My wife just closed on this end unit condo to flip as a side project. Purchase price $115k Reno budget ~$35k 2 beds 1.5 bath 1,114 sf 1 car garage Walkable to downtown Last comp wasn't an end unit and sold for $193k My gut says she'll sell for ~$210k https://t.co/gtqUorEm7J
NEW San Francisco Office Buildings for Sale News dropped last week that Paramount Group is likely handing back the keys to 111 Sutter and Market Center, totaling over 1 Million Square Feet of office space that they will be letting go of. This will add to the 17 office… https://t.co/eLT9tUtxUI
Bought near the peak of San Francisco's prepandemic market, Paramount has written the two buildings' values down to zero and may hand the keys back to the lenders. https://t.co/LJaMEoh3NH
Seller waits out long dry spell to offload condo in February for below asking https://t.co/w1JNTe0En2
Crescent Heights affiliates paid a total of $70.25 million for the property. Today's asking price is $40 million. https://t.co/DsaKsxekem
This condo on Market street in downtown San Francisco is still for sale btw Purchased in 2019 for $1.25MM Currently listed at $695k https://t.co/OnZtV0xTZO
Palpably, it does feel like the San Francisco residential real estate market is back from the dead all of sudden In 2023 sellers probably couldn’t even give a condo like this away 🤷♂️ https://t.co/3bBx3X3cfi https://t.co/tp1SaKhV9v