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September 23, 2009

Historic Hotaling a Hotbed of Housing Activity

In the shadow of the Transamerica Building, a small street located between Washington/Jackson and Sansome/Montgomery has become Jackson Square’s real estate epicenter.

25 Hotaling Place is a newly developed nine-unit property featuring eight one-bedroom condos and one two-bedroom unit. Prices range from the high $500,000s for a 1BR, through the mid-$800,000s for a 1BR/2BA with a den. Finishes are high end (teak flooring, Subzero, Wolf, Bosch—you get the picture), and I particularly liked Unit B, which had a nice tree outlook with the Transamerica Building just beyond. Though these condos don’t have a dining space, the target demographic probably won’t be eating in. No garage (though you can lease a space a couple blocks away), so 25 Hotaling is most likely looking for pied-a-terre buyers who want to be in walking distance of neighborhood amenities in an urban environment.

Just across the way is 38-40-42 Hotaling, which features a 3200-square foot condo with huge roof terrace for $3.8M. This unit has imported French oak, limestone floors, and an alcohol-burning fireplace. If you’re looking to renovate your own unit, just go downstairs to 42 Hotaling, which is a 2900-square foot shell waiting to be built out. Right now, it looks like an empty gallery space. Pony up your $1.7M and get to work.

While the 40-42 Hotaling spaces were impressive, they have absolutely no views. You have to focus on the historical nature of the property, and the large square footage.

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