1501 Greenwich: nice apartments at a good value?

Asked by Jackson Gates, San Francisco, CA Tue Feb 12, 2008

What do people think of the new apartments on Van Ness and Greenwich? Cow Hollow but not the best part right?

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K Wei, Agent, San Francisco, CA
Tue Feb 19, 2008

Not the best apartments as far as finishes and quality of workmanship are concerned (IMO). The views from some of the units are nice (#503 is my favorite), but that's about it. Don't go rushing in to buy those penthouse units at a premium either. Get the same thing (again IMO) by buying into the 5th floor.

You're right, location is not phenomenal, but it's not bad either and if you're up in the building, you'll hardly notice.
Web Reference:  http://thefrontsteps.com
0 votes
Chris Word, , San Francisco, CA
Tue Feb 12, 2008
Jackson, these are new construction units and there are pluses and minuses to owning something shiny and new. First off, new units come with developer guarantees, that nice new feel, and usually with the necessary amenities that add value to the condo property as a whole. The property, though, is on the corner of busy streets - and you can just consider Van Ness to be a slow highway at times. If you're commuting to Marin or the N.Bay, this might be good. If you're going down the Peninsula or across the Bay, you'll spend lots of time on City streets getting around. If you work in the City, this is a good place to buy since you'll be close to mass transit anyway. YOU are the deciding factor (and along with your financial needs). It's kinda on the edge of Cow Hollow, but you walk across Van Ness and get into Russian and Nob Hill plus the Polk Street corridor with shops, restaurants, bars, and coffee shops. The Greenwich properties have unique characteristics that will hold value over time, and the location, while being where it is, can be valuable in a future resale also.
1 vote
Sally Rosenm…, Agent, San Francisco, CA
Tue Feb 12, 2008
Dear Jackson,

Chris has a great answer. I would add that it is not the best part of Cow Hollow because of Van Ness traffic and if noise would be a bother to you.

The real key is how much can you spend? How many bedrooms & baths do you want for that amount? Are you looking for new construction or would you look at Edwardians, Georgians, Victorians, etc. as well? What amenities are important to you? (And I would include views, shops, restaurants, public transportation and things along those lines as amenities.)

Once you have answered those questions, then you can answer whether 1501 Greenwich is a good value for you.

Web Reference:  http://www.sallyrosenman.com
0 votes
Melanie Nard…, , San Francisco, CA
Tue Feb 12, 2008
The only other thing I'd add is that a new condo is like driving a new car off the lot, it can depreciate during that short amount of time in the transaction from the office to the curb. It's common in our industry to council buyers to purchase when thinking of staying 3-5 years.
0 votes
Tue Feb 12, 2008
Well put Chris, that deserves a big thumbs up!
Web Reference:  http://www.gregorygarver.com
0 votes
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