Office Vacancy Rate in San Francisco Just Hit a New High

Re:Office Vacancy Rate in San Francisco Just Hit a New High by ericbarrett on Tuesday October 18, 2022 @12:36PM (#33250106)

Yes, but I ended up buying a 1br in SF for a comparable price. The HOA fee was $650/mo. The building had 24/7 front desk staff, twice-monthly unit cleaning service, a small gym, a hot tub, and a full-time building engineer. All the while dealing with a lawsuit against the builder for leaks. And our reserve was quite funded. Where was the money going in Chicago?

[ Parent | on HN ]

Re:Office Vacancy Rate in San Francisco Just Hit a New High by fshbbdssbbgdd on Tuesday October 18, 2022 @12:57PM (#33250446)

Probably worse maintenance issues, and no builder to fix it for them.

[ Parent | on HN ]

Re:Office Vacancy Rate in San Francisco Just Hit a New High by bombcar on Tuesday October 18, 2022 @02:04PM (#33251489)

If they were suing the builder, it was probably still a relatively new building.

Older buildings start getting hit with the "every 20/50 years" maintenance, and also get hit with lawsuits against the building/HOA itself. Those can start to add up over time.

And the size of the building can also affect it; a smaller building with the same amenities would have higher HOA fees.

I personally wouldn't touch them with a fifty state pole, but some people like it.

[ Parent | on HN ]