[quote=davelj] . . . I just bought a west-facing penthouse unit in a mid-quality mid-rise (built in ’05) with 18 ft. ceilings and a view of the bay and downtown for $270/sq ft. (includes renovation costs). HOA is $328/mo. and includes a decent gym (but no pool). The original buyer paid a whopping $640/sq ft. While not a “steal,” that seems pretty reasonable to me. And there’s plenty of stuff like that if you have the patience to keep at it.[/quote]
That sounds fantastic, davelj! Good for you to be able to strike such a deal, esp with the view! Back in the early ’80’s, when “Park Row” was brand new, we “pet-sat” for a friend for over a week in the neighboring (18 mo older) “Marina Park” while she was out of town. At that time, I worked in the old county courthouse. I loved using the amenities and the “commute” was a dream (1-1/2 blocks). As a condition of sale of these first two complexes downtown (the only ones for many years), the first owners had to set aside a small percentage of any profit they made upon subsequent sale to the CDCC. Is this still the case now with the first owners of units in dtn complexes? As far as I know, my friend’s unit at MP is still a rental as she has long since moved to another area of the city.
Did you purchase your new unit as a principal residence and do you work dtn, davelj?
