Sold – Exclusive Listing 1020 Union Street #12 – $2.52 Million

terraceOn December 17, 2013, Kirk and Peggy Economos sold their exclusive listing,  #12 at Union Terrace Cooperative Apartments located at 1020 Union Street in Russian Hill, San Francisco for $2,520,000.

#12 at Union Terrace is a luxury 3-bedroom, 2-bath cooperative apartment, offering over 2,400 square feet of living area and featuring stunning views from North to East that include; Alcatraz, Fisherman’s Wharf, Treasure Island, Coit Tower, Telegraph Hill and the towers of the Bay Bridge.

The design of the Union Terrace Cooperative Apartments is pure Mediterranean with rose-colored stucco exteriors, red tiled roofs, wood carved window frames and ivy-laden gardens. The complex cascades down a hillside from Union Street to Filbert Street and is landscaped with central terraced gardens.

1020 Union Street has 29 mostly one-of-a-kind apartments and many have private exterior entrances that add to their feel of being single-family homes. Access from the terraced gardens to number 12 is by way of a private, arched promenade.

Even in a very competitive San Francisco real estate market the sale of 1020 Union Street took an unusually long, 128 days.

Some buyers do not favor cooperative ownership, so Union Terrace was simply off the list from the beginning. The peaceful and serene enclave of the terraced gardens proved to be a bit old-fashioned for some of the younger buyers and the numerous cascading steps down the hillside terraces proved a challenge for some of the older buyers. In the end the property and the perfect buyers found each other.

Kirk and Peggy Economos together with their broker, Pacific Union International, donated $4,000 of their commission to “Heritage Watch” a non-profit organization dedicated to the preservation of Southeast Asia’s cultural heritage.

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