A Luxe Two-Bedroom with Views Trades for $232K Less

Purchased for $2,132,111 in December of 2017, the “luxe” two-bedroom, two-bath unit #25A in the Lumina tower at 201 Folsom Street, with “wrap-around floor-to-ceiling windows” and “awe-inspiring panoramic views,” returned to the market priced $2.5 million in August of 2018.

Re-listed for $2,488,000 early last year, around the time the “wave of millionaires” misanalysis was making the rounds, the list price for the 1,368-square-foot unit was subsequently reduced to $2,418,000, to $2,268,000 and then to $2,199,000 before being withdrawn from the MLS in December.

Briefly listed for rent at $7,000 this past April, the “spectacular” unit was listed anew for $2,058,000 in May, re-listed for $2,049,000 in July and then reduced to $1,949,000.

And the sale of 201 Folsom Street #25A has now closed escrow with a reported contract price of $1,900,000, down 10.9 percent ($232,111) on an apples-to-apples versus “median price” or indexed basis verthe fourth quarter of 2017 and without a tenant in place.

Read More: A Luxe Two-Bedroom with Views Trades for $232K Less

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