Purchased from the sales office for $3,149,500, or roughly $2,003 per square foot, back in June of 2016, the “highest and largest” two-bedroom, two-bath unit in the Lumina tower at 338 Main Street, unit #35A, was then listed for $3,449,000 in March of 2017 while alternatively being offered for rent at $15,000 a month.
Reduced to $3,199,000 and then to $2,995,000 in May of 2017, 338 Main Street #D35A was relisted anew for “$2,900,000” in November of 2017 but then withdrawn from the market when an acceptable offer failed to materialize.
Listed anew for $3,299,000 early last year, perhaps in anticipation of a completely mis-projected wave of millionaires that were going to “eat San Francisco alive,” the unsold 1,572-square-foot unit was then listed for rent at $11,000 a month (which was reduced to $10,500 after a week). And in October of last year, the unit was listed anew for $3,150,000 and its days on the market were reset to “1.”
Reduced to $2,995,000 this past February, and then offered for rent at $9,000 a month in March, the list price for 338 Main Street #35A, the listing for which touts “unparalleled views of the Bay Bridge, water, city skyline & Twin Peaks,” along with “one of the most desirable floor plans at The Lumina,” is now down to $2,875,000, or roughly $1,830 per square foot, a sale at which would be 8.7 percent below the the unit’s mid-2016 value on an apples-to-apples basis.
And for those running the numbers at home, the HOA dues for the unit have been running around $1,200 a month.
Read More: Reduced Rents and Pricing for a Prized View Condo