I visited the sales office for Marlow, the 98-unit condo development currently under construction at the corner of Van Ness and Clay in Nob Hill. The building will be move-in ready in early 2014, but the sales office has started selling units and already has ten units under contract.
Marlow is a mix of one- and two-bedroom units, as well as three-bedroom townhomes across eight stories. Floor plans include either units with or without dens, which is the main distinction.
Finishes include white quartz countertops, natural walnut cabinets, porcelain backsplashes and tiling, and stained maple floors. (Refrigerators, microwaves, and washer/dryers are not offered in the purchase prices.) The kitchen counter features a media station for charging your electronic devices:
Amenities include independent parking for each unit, bike storage (but no additional storage), three carshare spaces, air conditioning (in San Francisco, no less), and half of the homes have some sort of balcony for outdoor space. Windows are “double-, triple- and quadruple-paneled,” as per the sales office. And the common area is “Marlow Park,” which is an open space on the ground level that will feature a bocce court, grill, and firepit. There’s no roof deck.
Pricing is at a premium, ranging from $922-$1200/square foot. Units being offered now range in square footage from 671-1267 square feet, with the least expensive condo being a 746-sq foot 1BR + den on the second floor listed at $689,900, and the most expensive being a 1231-sq foot unit on the fifth floor listed for $1,232,900. Monthly HOA dues are $540-$667.
Buyers who want first pick of the available units will have to be content making their decisions based on floor plans and depicted views and other details via the sales office’s touch screen display. Those ten buyers already in contract are betting that Marlow’s condos will be worth current prices when the building is finally ready for occupancy in early 2014.
I like Marlow’s design and amenities, and believe that the units facing north, east and south will be the best ones. West-facing units that front Van Ness are the ones with the quadruple-paned windows, no doubt, and will require buyers who are less sensitive to noise—or ones who’d be happy running air conditioning and keeping the windows closed. The location is extremely central to the Polk Street corridor’s shops and restaurants, and is in walking distance of the Financial District. Given the limited new development opportunities in the well-established neighborhoods of Russian/Nob Hills, Marlow offers a good opportunity for buyers looking for shiny, new finishes in a convenient location.
If you’re interested in independent representation at Marlow, please contact me and I will schedule a visit to the sales office for us. The sale process in new construction is unique, and I can use my experience in this area to help you make the right decisions, as well as navigate all the ins and outs of the process.