• 01/30/20 3701 Noriega Street Development Cost - posted by Holt Macon

3701 Noriega Street Development Cost

01/30/20 - posted by Holt Macon

The web site at:

https://hoodline.com/2016/04/44th-noriega-s-76-station-could-make-way-for-4-6m-development-noriega-produce-expansion

states that this 12 unit building will be a 4.6 million dollar development and another web site I was at

https://www.realtor.com/realestateandhomes-detail/3701-Noriega-St_San-Francisco_CA_94122_M11638-18733

states the lot was purchased in 2014 for 1.8 million.

I believe that was the price for the lot but the 12 unit building plus space for the ground floor produce shop plus two underground levels of 42 parking spaces all for 4.6 million seems dirt cheap to me. Just the labor alone seems like it could be 4.6 million.

Does anyone know what this development costs.

It is said that the owner of the produce store between 45th and 46th purchased the lot. It would then seem that he probably got a loan for the development but for a lot more than 4.6 million.

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