Posts Tagged ‘soma’

Updated: New Condo Developments in San Francisco

 

 

 

 

For more information on any of the new condominium developments now selling or under construction, please contact me.

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Meredith Martin is a Broker Associate at Paragon Real Estate Group and can be reached at Meredith@OpeningDoors.me

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New Condo Developments in San Francisco

 

Yesterday evening I had the pleasure to attending “Cranes of SoMa” — a panel discussion of new residential developments in San Francisco’s South of Market neighborhood. No other area of the city is seeing as much construction as is happening here–Approximately 60% of the city’s new construction is happening in District 6 which includes the Tenderloin, South of Market, Mid-Market/Civic Center, South Beach, Mission Bay and Rincon Hill.

Fact: Never has there been so much construction at one time in the history of San Francisco (at least since 1906).

With consideration to new condominium developments of 60+ units:

  • 8 new developments accounting for a total 1,425 units are now selling
  • 941 units are currently under construction, pre-sale

 

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Perhaps the most anticipated of the upcoming new developments is 181 Fremont Street, otherwise known as Park 181. Starting on the 53rd floor and rising 17 stories, the luxury high-rise condominiums here will offer residents the opportunity to live higher in the sky than anywhere west of Chicago. The unit count here includes a full 53rd floor of studio and one-bedroom residences available for purchase only be owners of larger units. At the 70th floor, a full-floor 7,000+/- square foot penthouse will be one of the San Francisco’s most valuable properties (the Tower B penthouse at nearby LUMINA is on the market right now for $49 million). Floors 54 thru 69 will offer a mix of two- and three-bedroom condominiums (no more than four per floor) and four half-floor penthouses. Recent sales have seen the cost of new condominiums rise above $2,200 per square foot, and residences at Park 181 are expected to start around $3,000 per square foot.

For more information on any of the new condominium developments now selling or under construction, please contact me.

 

Meredith Martin is a Broker Associate at Paragon Real Estate Group and can be reached at Meredith@OpeningDoors.me

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Pacific Heights New Construction

Pacific Heights may not be the first San Francisco neighborhood that comes to mind when you think of new condominium developments. Of the 8,028 new housing units filed with the city’s Planning Department in 2014, only a small fraction are slated for the tony enclave of grand mansions and architectural masterpieces. So when new inventory hits the market here, you can bet it’s going to sell quick!

Since the release of its first phase of luxury residences just two months ago, the brand new Rockwell in Pacific Heights at the intersection of Pine and Franklin streets has sold more than 100 of its combined 260 condominiums in two adjacent towers. Currently, Rockwell’s West Tower is about 75% sold, prompting sales to begin in the East Tower ahead of schedule. While the simple principle of supply and demand undoubtedly plays a large part in this impressive sales record, the appeal of the development’s amenities to today’s homebuyer isn’t to be discounted. From the Grand Solarium lobby to the Owner’s Club entertaining space to the screening room to the fitness center to the indoor-outdoor Sky Lounge and Terrace, Rockwell is proof that Pacific Heights can be just as modern and sexy as South of Market, South Beach and Mission Bay.

San Francisco Business Times

In recent months, the price of new construction in San Francisco’s southern neighborhoods has pushed as high as $2,000 per square foot, making that at Rockwell appear a relative bargain. With one-bedroom residences starting in the mid-$700,000s and two-bedrooms (which all include on-site parking) from around $1,200,000, the place is commanding approximately $1,200 per square foot — right on par with current resale values of similar condominiums in the neighborhood:

Before the first move-ins take place at Rockwell, another new condominium development will begin selling. 2121 Webster, also known at The Pacific, is planned to include a mix of 76 one- to four-bedroom residences, penthouses and townhouses plus world-class amenities. Please contact me for more information and stay tuned for the latest buzz.

Meredith Martin is a Broker Associate at Paragon Real Estate Group and can be reached at Meredith@OpeningDoors.me

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San Francisco Secret Spaces

Rooftop Reverie

Rooftop Reverie

San Francisco is a very special place. Right now, some think  it’s the epicenter of the universe. The Titans of Tech, the heart of artistic culture and Karl the fog (our weather is now a mascot!) reside here, working and playing hard. But we all need a break…

The folks at SPUR have shared their local real estate expertise in a cell phone application titled, SPUR Secret Spaces & Hidden Oases to showcase destinations for revitalization. The best part, all are open to the public!

I have narrowed to my top 5. Enjoy!

1. Rooftop Reprieves at The Crocker Galleria on 50 Post St. @ Montgomery St. This breath of fresh air location boasts 2 Rooftop Sun Terraces. Complete with lovely benches, flowering trellis’ and a working foundation, this quiet open space has lived up to its name since its construction in 1982. With easy access to restaurants & restrooms, Rooftop Reprieves receives a stamp of excellence!

2. Standing Among Giants at TransAmerica Redwood Park on 600 Montgomery St. @ Clay St. This iconic oasis lives up to it’s fame.

TransAmerica Redwood Park

TransAmerica Redwood Park

Resting beneath the shadow of this towering skyscraper, an Urban Park accessorized with massive Redwood trees, grass, wooden benches and a stage, takes my first prize for best of the best. Nearby restaurants have cooked lunch for the voyeur of these gentle Redwood giants since 1973.

Moroccan Bliss!

Moroccan Bliss!

3. A Moroccan Plaza at Citicorp Center Building on 1 Samsome St. @ Sutter St. This remarkable architectural accomplishment has provided San Francisco with a glass enclosed roof, supported by 2-story arches of white marble since 1912. A visitor is sure to have a few moments of holiday bliss as palm trees accent this quaint cafe scene. Drift amongst the true show stoppers, an art deco bronze sculpture and marble fountain centerpiece. Sit back, relax and enjoy the tables and chairs free for visitors use since 1983.

4. Up in The Clouds on 343 Sansome St. @ Sacramento St. This split location shares 2 open spaces with the public. Savor the sun and the view from the 15th floor terrace.

15th Floor Terrace

15th Floor Terrace

Travel to the adjacent mall for easy food service. Bring lunch back over and appreciate the olive trees and flower bed planters. This special space has been gifting benches, moveable chairs and tables since 1990.

5. Power Lunch Greenhouse on 101 2nd St. In 2000, contemporary minimalism invited an expansive, glass-enclosed designer cafe to SOMA.

Modern Greenhouse eatery

Power Lunch Greenhouse

Bath in sunlight and pull up a chair or a bench to watch daily noon-time entertainment. Delight in the contrasting white marble and black granite decor that frame an over-sized painting and sculpture. What are your favorite San Francisco spaces?

Rita Roti is a broker associate / assistant manager at Zephyr Real Estate and can be reached at Rita@ritaroti.com.

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