Originally seeking $849,000 as a resale, the listing for One Rincon Hill #2307 was reduced down to $749,998 and then withdrawn from the MLS after 200+ days. Returning to the MLS [73] days ago asking $699,000, the list price for the northeast corner and 819 square foot 425 1st Street #2307 was [then] reduced to $649,000. The resale ... closed escrow on 4/17/09 with what appears to be a "confidential" sale price according to the MLS. Public records via the Chronicle report a sale price of $560,000 ($684 per square foot). And if tax records and the Chronicle are correct, that’s roughly 22% under what the seller had paid to the sales office ($873 per square).Ouch. Glad I didn't buy one during the first week of sales.
SOURCE: SOCKETSITE
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