A peek into The Harrison and what top interior designer, Ken Fulk, had in mind when creating its spaces.
Proposed Mission District Housing Developments Are Taller, More Colorful
San Francisco Development Report-March 2016
News & Highlights
- The resale price per square foot is above $1,000 for the first time since December 2015.
- 60% more resale condominiums on the market in March VS February.
- 450 Hayes is almost completely sold while the 4th floor penthouses are priced at $1,700 per square foot.
- Sales have commenced at The Pacific Row House Collection with 5 of 10 units already in contract.
- Sales set to launch this month for 388 Fulton and 69 units in Hayes Valley.
- 5 market-rate units remain available at 1001 17th in Potrero Hill.
- More unit closings were released for Arden in Mission Bay with a price per square foot average of $1,015.
- Initial closings for Lumina Tower B have been released with a price per square foot of $1,170.
Market Performance
Residential Pipeline Summary
Projected & Historical Supply
If you are interested in a private showing of one of the many properties on the market in San Francisco or if you have a unit you are looking to list, contact The Costa Group.
Gorgeous Off-Market 2 Bed, 2 Bath Arden Condo
The opportunity to live in Mission Bay's urban waterfront is here! Your new home in residence 814 is filled with natural light and the open concept floor plan with an outdoor view patio that is perfect for entertaining.
HOME FEATURES INCLUDE:
- 2 bedroom and 2 full bathrooms
- Approximately 1177 square feet
- 1 car parking in the gated garage
- Private storage
BUILDING AMENITIES INCLUDE:
- Two designer lobbies
- 75' rooftop lap pool and spa
- Expansive outdoor wood deck with city, water, and Twin Peaks views
- Double height fitness studio with changing rooms
- HOA dues: $919.34
Offered at $1,475,000
FOR SHOWINGS AND MORE INFORMATION, CONTACT FRANCK COSTA.
Franck Costa
focosta@vanguardsf.com | 415.490.7027 | BRE#01853603
The Harrison VIP Event
Much anticipated, The Harrison will not only offer the ultimate in luxury living but stunning panoramic Bay and urban views. This one-of-a-kind modern condominium in the works in SOMA will offer 298 stunning residences designed by none other than renowned interior designer, Ken Fulk.
A few members of The Costa Group attended The Harrison VIP event to learn more about the property. Luxury condos in 1, 2 and 3 bedroom floor plans are available for purchase. Set 'in the heart of SOMA, they enable a lifestyle like nothing San Francisco has ever seen.'
Since being revitalized, SOMA has earned its status as a San Francisco cultural center. Its lively nightlife, museums, theatres and music venues offer residents 'the very best of the city...right at your doorstep.'
Stacia Wickland, Nancy Ng, Franck Costa and Tyler Mende at the Harrison VIP event.
The Harrison is not just another high rise condo complex. It will exude unparalleled beauty and class in large part due to the unique, luxury style imbued into each space by cherished San Francisco interior designer, Ken Fulk. His highly sought-after style has a wit and elegance has been featured in Architectural Digest, Vanity Fair, The New York Times, The Wall Street Journal and Elle decor.
"I strived to create an experience that feels like a life well-lived. That by living at The Harrison, you have the keys to the best of the city." ~Ken Fulk, Designer
We invite you to experience the beauty of The Harrison.....
Floor to ceiling windows provide panoramic views while Siberian oak flooring and custom brass and glass scones give the interior its own amazing view.
Quartz countertops, state-of-the-art appliances and plentiful counter and cabinet space make this kitchen a joy to behold...and is sure to inspire your inner gourmet.
Imagine falling asleep each night and awaking every morning in a well-appointed bedroom with stunning city views.
A relaxing, soothing space filled with the finest amenities including rainfall walk-in shower, soaking tub and Waterworks fixtures.
If the distinct luxury of The Harrison appeals to you, contact The Costa Group for more information to to arrange a private showing.
San Francisco Residential Development-February 2016 Edition
The median new construction price per square foot has risen to $1,326. It is expected that the majority of all condominium units currently under construction will be released for sale in 2016, suggesting a potential shortage of new units in 2017. There are a number of developments in the approval, review and/or conceptual process including Tenderloin, Treasure Island, Mid-Market and Dogpatch, to name a few.
For the most recent quarter, the median price for a new condominium was $1,290,000. 147 units closed while 516 units remain available. Price per square foot increased 11% year-over-year and 7% month-over-month.
The median price for resale condos was $1,100,000 with 562 units sold and 142 remaining on the market. Price per square foot was $958, a 1% increase year-over-year.
The below are some of the properties currently selling:
- 450 Hayes
- The District
- 1001 Seventeenth
- Lumina
- The Rockwell
- Luxe
- Fulton 555
- 72 Townsend
- San Francisco Shipyard
- Summit 800
- 6 Mint Plaza
Click here to read the February San Francisco Development Report in its entirety.
If you're in the market to purchase a condominium in San Francisco, contact The Costa Group to find out how we can help you find the perfect home to fit your lifestyle.
Hunter Pence Buys Second Millennium Tower Condo
Outfielder for the San Francisco Giants, Hunter Pence has purchased a second condo on the 51st floor of the Millennium Tower, reports the San Jose Mercury News.
In 2014, Pence purchased Joe Montana's one-bedroom unit and last October, he laid down $4.25 million for the 2,230 square foot, 2 bedroom, 3 bath residence with floor-to-ceilings views of the Bay Bridge. Whether Pence resides in his newly acquired residence remains to be seen.
The tallest residential building gracing San Francisco's skyline, the South of Market Millennium Tower offers over 20,000 square feet of amenities including a 5,500 square foot fitness center, a screening room, wine cellar and tasting room, pool and outdoor terraces, and children's play area to name but a few.
Are you in the market to buy or sell in San Francisco? Contact The Costa Group. We can help you meet your real estate goals.
5 Tips When Buying A Condo
Buying a condominium brings with it different considerations and involves things that buying a single family home does not. Below are 5 things to keep in mind if you're in the market for a condo.
1. Get all the documentation and allow enough time to review
Buyers are supposed to receive all Home Owner Association financial documentation during the inspection period. Ask you realtor for a complete documentation package as soon as you enter your escrow period to allow enough time to thoroughly read and understand all the data provided.
2. Take a close look at the exterior
Make sure all community areas including pools, fitness rooms, balconies, paint, landscaping, parking areas, stairways and roofs, are in good repair. Although the HOA should be responsible for the majority of exterior maintenance, a large number of issue should be a red flag.
3. Know your association fees
Most condo communities include a fee that is paid on a regular basis, whether that be monthly or annually. Fees vary significantly and play a part in whether or not you can afford the property as your lend will factor the fees into your monthly debt.
These dues cover common expenses like maintenance and insurance. but you should know specifically what your fees include and what they don't. Do fees cover any exterior maintenance? What do they exclude?
Its wise to understand how these fees are allocated and if any goes into a reserve for large repairs, such as roof replacement. Buying into a community with a healthy reserve fund will generally ensure most major repairs are covered.
4. Review the rules
Since the community is a group of people living in close proximity, there are set regulations on pets, renters and a variety of other established rules. Be sure to read and understand all the rules.
5. Check the financial statement
Look in detail at where the association is spending their money. As a rule, about 2/3 should be spent on basic operating expenses such as water, lights, landscaping and other maintenance while the remainder should be placed in a reserve for larger, longterm repairs.
Do expenses exceed revenues? Find out why and how the HOA plans to rectify this. Its best to know in advance if a special assessment or an increase in dues will be the solution.
If you're in the market for a condo or townhome in Marin or San Francisco, The Costa Group can guide you through the process and assist in finding you a wonderful home in a community perfect for your lifestyle.
San Francisco Residential Development-December 2015
December has been a busy month for real estate development in San Francisco.
Many units are still available at 1001 Seventeeth, Onyx on the Park, Sapphire, Luxe and Fulton 555 to name a few. Others including Townhomes on Tennessee, Mission@1875 and V20 recently sold out.
A quick recap of the highlights:
- Price per square foot remains static at $1,250.
- Only one unit remains at Potrero Hill's Onyx II
- New list prices were announced at Sapphire, with an average price per square foot of about $1,100
- 60% of the homes at Summit 800 in Park Merced are sold, with a square foot price of $680
Q1 is generally the strongest three months for apartment supply and Q1 2016 will bring 8 new projects offering over 1,500 units.
based on year-to-date production levels, San Francisco is projected to have 14% fewer units than in 2014 but requires 3,600 new units annually through 2022.
Will Trumark Urban’s The Pacific Live Up To The Hype?
In 2016, Trumark Urban’s The Pacific, one of San Francisco’s most-anticipated luxury condominium projects will give residents (likely some top tech-company executives) stunning views of the Golden Gate Bridge.
It is being constructed in Pacific Heights, one of the city’s most luxurious neighborhoods, where new projects are a rarity.
Click image to view more renderings of The Pacific.
The building Realtors are already speculating that the best units could go for $3,000 a square foot, right up there with top Manhattan properties.
