More Price Cuts At Union House As Condo Sales Stall

It’s been more than two years since Union House debuted its 41 elegantly appointed residences in Cow Hollow, and when we featured the last available 1-bedroom homes there back in March 2022 it had just reached 50 percent sold. As it turns out, both of those 1-bedroom condos are still looking to land a buyer. And joining them with reduced pricing is at least one 2-bedroom unit.

1515 Union Street #5F is marketed and exclusively listed by cooperating broker Polaris Pacific. Listing photos above courtesy of SFAR MLS.

Originally appearing on the MLS with a $1,350,000 list price at the tail end of 2020, 1515 Union Street #5F has now been twice relisted and twice reduced. We imagine the sales team is hoping they will not have to find out if the third time is a charm. The 1-bed/1-bath/783sqft mid-floor home overlooking Van Ness Avenue received a $100K price adjustment this week to $1,195,000.

At the southwest corner of the building in an entirely more private setting, 1515 Union Street #4D — the other last remaining 1-bed/1-bath residence — was most recently seeking $1,495,000 (down from $1,575,000). The listing is no longer Active on the MLS for public marketing, however it is still available for purchase. It’s reasonable to believe the developer will strongly consider any fair offer (on any of the remaining homes).

1515 Union Street #2A is marketed and exclusively listed by cooperating broker Polaris Pacific. Listing photos above courtesy of SFAR MLS.

Just reduced by $200K, 2-bed/2-bath/1,381sqft low-floor residence 1515 Union Street #2A is now offered at $2,239,000. This corner unit has northwest exposure looking onto Union Street and a private garden terrace. For what it’s worth, a similar home two floors directly above with a Golden Gate Bridge view but no outdoor space sold in March 2021 for $3,040,000.

1515 Union Street #3H is marketed and listed exclusively by cooperating broker Side, Inc. Listing photos above courtesy of SFAR MLS.

While we’re on the topic of price cuts at Union House, let’s talk about the first attempted resale. Spoiler alert: it was a bust. We wrote about 1515 Union Street #3H in May 2022 when it received a $100K reduction to $1,995,000. Even being the least expensive 2-bedroom condo for sale in the building couldn’t move a buyer into action. Another $50K was eventually taken off the top, and at almost four months on the market it was withdrawn without sale. It was later rented for a reported $7,500 per month.

According to our investigation of public records, only four units at Union House have sold in 2022. That is a shockingly low rate of absorption, and it speaks volumes about the softness of San Francisco’s condo market at the moment.

Of the 15 homes still available for purchase, there are the aforementioned 1-bedroom and 2-bedroom units; a variety of 2-bedroom flats and penthouses; and several 3-bedroom layouts including flats, one townhome and a penthouse. Homes are shown to qualified buyers by appointment only.

Opportunity knocks to buy the dip all over this city!

Before visiting any new development, reach out to us to discuss why our exclusive buyer representation gives you the most negotiating power. You’ll be happy you did. Our agents are experts in San Francisco’s dynamic real estate market and will help you understand how it works.

Subscribe to broker insights, top headlines, off-market listings, and new development launches delivered monthly to your inbox.