The partnership of Goldman Sachs and JPMorgan Chase, who purchased the mall property out of receivership in November and foreclosed on a $560 million outstanding loan tied to it, have selected Presidio Bay and Prado Group to take over the property for an undisclosed sum. The Chronicle reported that the estimated winning bid amount was around $130 million.
We have about 500 people on the waiting list to buy condos, said John Tashjian, managing partner with Centurion Real Estate. That's unheard-of interest. I've had 50, I've had 100. But I've never seen anything like this before.
Once a nice-to-have niche urban design concept, TOD has become an essential part of many urban neighborhoods. It has helped address the shortage of housing by enabling the development of higher-density residential communities near transit stations. It has helped revitalize countless once-deteriorating or static urban enclaves near transit hubs by activating sidewalks near the developments. And it has spurred walking and transit use, enabling residents of TODs to reduce or eliminate automobile dependency.
