4 ms·

Saved you some math: $235/sqft. The assessed value was $711/sqft which is outrageous.

samstave 3y ago
I've built out literally millions of square feet of commercial and healthcare sqft. (SFGH, El Camino, UCSF, Salesforce, Namco, Lucas, Gene, FB, Goog) (those are on my personal CV -- but the design firms I worked for built out pretty much every single tech site in SF, and the other cities for thes companies (LA, NYC,SF, CHI, and international sites) I have ALWAYS been dumbfounded by how much per sf $ This scenario should be the posterchild for real-estate greed - NONE of these properties should cost this much - even if your lobby desks are built from 85,000$ Koa Wood Desks from hawaii that is illegal to harvest - and you have one of these in most of your reception lobbies on your MANY MANY floors (Salesforce)... but here is the thing - all the businesses that died on Market and FiDi in SF - where high-end condos are all around, and other apartment buildings - there will be no walkability score for many of the apartments in those areas, and thus their prices should come down. However, you'll notice that the building dropped 66% -- but any commercial (or residential) rental rates will certainly not decrease by that much (hedgies want to dump buildings (hence Park 55 and Hilton... with more to come) - Walkability is based on the ability to walk from residence to commercial, retail, grocery, entertainment, work, etc... So if the first two levels of entire blocks of san francisco's market steet are all shuttered, non-interesting/iconic - why would you want to live anywhere near such an area. Look at how lame the TwiXXXter building is now - all the shops that would have supported the employees are shuttered. crappy vid, but informative of the number of shuttered places along market that just shows how depressing it is https://www.youtube.com/watch?v=5UWIyGDnHmk https://www.youtube.com/watch?v=5UWIyGDnHmk
- TMWNN 3y ago
  > but here is the thing - all the businesses that died on Market and FiDi in SF - where high-end condos are all around, and other apartment buildings - there will be no walkability score for many of the apartments in those areas, and thus their prices should come down. Why wouldn't they have (very high) walkability scores? Or do you mean that as commercial buildings they don't have walkability scores until some time passes, and prices will be lower than possible until the locations are scored?
- samstave 3y ago
  EDIT: I wanted to talk more about the sqft consumed by one of the Koa Wood reception desks I mentioned (These are desks made from Koa Wood - which is the treasure-wood of Hawaii, and you cannot harvest it - so you have to purchase an already-made-thing, then work it to your desired product. This wood is super expensive (its going to sky-rocket due to the Maui fires (im sure some of those ancient stores had Koa things in them) But to give you an idea: The basic slabs that we installed in the lobbies of, say, 50 Fremont for salesforce - the thing was IIRC $~65,000k for a reception console top (with side curtains, live edge) - we roughly 24"x96" (I dont recall dimensions) -- EDIT - Apparently I am wrong on the purchasing of Koa, as you can get pieces - what I do know is that some of the receptions were made from older peices that were purchased and then rebuilt to the new format... I do know they were >$65,000 - and I am trying to merge to follwoing sqft price for the area of both the desk and the sqft under it based on the $711 sqft price in SF + the cost of the Koa desk / its footprint... So, Assume 18x120 koa desk (made by a koa master in HI) $65000 Cost of raw materials (unknown) sfqt cost in SF based on $(n) we will pick the $711 number and the other one. Works out to ~20 SF at a price for just the actual flooring, at 14,220 per year. Then the cost of the wood can be calculated but doesnt matter at this point, that desk costs $~8.00 hr just to sit there (if it were available M-F, 8-5)

I've built out literally millions of square feet of commercial and healthcare sqft. (SFGH, El Camino, UCSF, Salesforce, Namco, Lucas, Gene, FB, Goog) (those are on my personal CV -- but the design firms I worked for built out pretty much every single tech site in SF, and the other cities for thes companies (LA, NYC,SF, CHI, and international sites) I have ALWAYS been dumbfounded by how much per sf $ This scenario should be the posterchild for real-estate greed - NONE of these properties should cost this much - even if your lobby desks are built from 85,000$ Koa Wood Desks from hawaii that is illegal to harvest - and you have one of these in most of your reception lobbies on your MANY MANY floors (Salesforce)... but here is the thing - all the businesses that died on Market and FiDi in SF - where high-end condos are all around, and other apartment buildings - there will be no walkability score for many of the apartments in those areas, and thus their prices should come down. However, you'll notice that the building dropped 66% -- but any commercial (or residential) rental rates will certainly not decrease by that much (hedgies want to dump buildings (hence Park 55 and Hilton... with more to come) - Walkability is based on the ability to walk from residence to commercial, retail, grocery, entertainment, work, etc... So if the first two levels of entire blocks of san francisco's market steet are all shuttered, non-interesting/iconic - why would you want to live anywhere near such an area. Look at how lame the TwiXXXter building is now - all the shops that would have supported the employees are shuttered. crappy vid, but informative of the number of shuttered places along market that just shows how depressing it is https://www.youtube.com/watch?v=5UWIyGDnHmk https://www.youtube.com/watch?v=5UWIyGDnHmk

TMWNN 3y ago
> but here is the thing - all the businesses that died on Market and FiDi in SF - where high-end condos are all around, and other apartment buildings - there will be no walkability score for many of the apartments in those areas, and thus their prices should come down. Why wouldn't they have (very high) walkability scores? Or do you mean that as commercial buildings they don't have walkability scores until some time passes, and prices will be lower than possible until the locations are scored?
samstave 3y ago
EDIT: I wanted to talk more about the sqft consumed by one of the Koa Wood reception desks I mentioned (These are desks made from Koa Wood - which is the treasure-wood of Hawaii, and you cannot harvest it - so you have to purchase an already-made-thing, then work it to your desired product. This wood is super expensive (its going to sky-rocket due to the Maui fires (im sure some of those ancient stores had Koa things in them) But to give you an idea: The basic slabs that we installed in the lobbies of, say, 50 Fremont for salesforce - the thing was IIRC $~65,000k for a reception console top (with side curtains, live edge) - we roughly 24"x96" (I dont recall dimensions) -- EDIT - Apparently I am wrong on the purchasing of Koa, as you can get pieces - what I do know is that some of the receptions were made from older peices that were purchased and then rebuilt to the new format... I do know they were >$65,000 - and I am trying to merge to follwoing sqft price for the area of both the desk and the sqft under it based on the $711 sqft price in SF + the cost of the Koa desk / its footprint... So, Assume 18x120 koa desk (made by a koa master in HI) $65000 Cost of raw materials (unknown) sfqt cost in SF based on $(n) we will pick the $711 number and the other one. Works out to ~20 SF at a price for just the actual flooring, at 14,220 per year. Then the cost of the wood can be calculated but doesnt matter at this point, that desk costs $~8.00 hr just to sit there (if it were available M-F, 8-5)