Remember this tiny 265-square-foot TIC from the other week that was asking $425K? Well, a barely larger unit, but an actual condo, that clocks in at 291 square feet on Howard Street in SoMa just sold for $415,000 and it only had an asking price of $299K because it has a kitchenette and a Murphy bed!! As Curbed tells us, it commanded 39 percent over asking, with the buyer paying all cash, because everything is crazy, and tiny living is chic, I guess.
There is just one tiny closet, and a mini-fridge. And the buyer had better own pretty much nothing and only two pairs of shoes.
That's a closing price of $1,426 per square foot, FYI, which is slightly better than the asking price for that Cow Hollow TIC, with an asking price of $1,603 per square foot, and being highly likely to sell for much more. Like $1,886/sf if it manages to sell for $500K.
Just to reiterate, THAT IS CRAZY.
To put it in perspective, condos in the stylish, Stanley Saitowitz-designed 8 Octavia, as featured on Looking, were going for around $1,200 per square foot, and the fancy condos in the city's largest ever TIC, atop Nob Hill, were going for $1,500. But they were not, obviously, quite so tiny.
And according to Trulia, the average per-square-foot price in notoriously tiny-apartment-filled Manhattan is currently $1,472.
Another view, with Murphy bed folded up, below.