We reported earlier about the former auto garage on Valencia selling for $8.7 million. SF Gate reports today that the developer, MX3 Ventures will turn the space into “25 condominiums and about 8,000 square feet of retail.”
In the parlance of residential land deals, the transaction works out to about $350,000 per “buildable unit,” three times the $114,000 per buildable unit that developers recently paid for 41 Tehama St., a fully entitled high-rise site near theTransbay Center. The full story is here.
Meanwhile, one of our reporters took a look at the partially finished floors of Vida, the $1,000 a square-foot condo project going up on Mission Street. The rooms are about as big as my tiny room, he reports.