Luxury co-ops are a more challenging sell these days since many are second homes for people who live outside of the city or state. The co-op market has slowed a bit with the rise in interest rates and the bad press that SF has been recently getting resulting in some deciding not to buy their second homes here. See my discussion of co-ops in a previous blog.
Fortunately, my recent co-op listing with my colleague, Joan Maze Miles, just sold, thrilling our clients so they can move on with their lives. 2164 Hyde, #202, is a panoramic view 2 bedroom unit – the type of property you walk into and say, “wow!” There are literally views from every window, of the Bay, Coit Tower or the Bay Bridge. The building even made an appearance in “Dark Passages” with Humphrey Bogart and Lauren Bacall as Bogart steps onto a cable car near the end of the movie which glides by 2164 Hyde.
We couldn’t have been more pleased with the buyer who walked in and fell in love with the unit. She lives outside the city and is the former mayor of a peninsula town and owns a property management company. This buyer is an example of someone who appreciates all that SF has to offer and wanted a second home here. She made an all cash offer and was quickly approved by the board. This very smooth transaction just closed for $2,150,000.