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Subject: Union Square - $250 ppsf comp

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surferX
Posts:14

06/26/2008 5:28 PM	Alert
Check out this comp at Union Square that closed today. That complex is on it's way underwater fast! And it's at 2bd/2ba with decent square footage! What will prices be by December? http://www.sdlookup.com/Property-A8E8B626-1480_Broadway_2304_San_Diego_CA_92101#26590

UnsureBuyer
Posts:214

06/26/2008 6:25 PM	Alert
shucks, I thought you were talking about SF's Union Square :). I was thinking that I should move to SF!

sd601
Posts:15

06/26/2008 9:02 PM	Alert
Wow, that's crazy low. I remember being on the list for that complex when the second and third phases were released, but the prices were too high for us when our turn was up. Thank goodness we didn't buy. It's a sinking ship, now.

Brian
Posts:2628

06/26/2008 9:07 PM	Alert
Posted By sd601 on 06/26/2008 9:02 PM Wow, that's crazy low. Not crazy at all. I've been predicting $200/sf downtown. I bet we'll get to that level in 2009.

wilson
Posts:670

06/26/2008 9:20 PM	Alert
Not crazy low for wood construction. You won't see $200/psf for steel and/or concrete downtown ever. You might get there for poor units in wood buildings only.

Brian
Posts:2628

06/27/2008 12:02 AM	Alert
Posted By wilson on 06/26/2008 9:20 PM Not crazy low for wood construction. You won't see $200/psf for steel and/or concrete downtown ever. You might get there for poor units in wood buildings only. Depends what concrete and steel building you're talking about. Element, a concrete and steel building, just had unit #501 close at $155k. 726sf = $213/sf..... and we are still a long way from the bottom. 550_15th_St_501_San_Diego_CA_92101

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