Category Archives: New Construction

“End Users” Snatch Up Fixers for Dream Home

“End Users” Snatch Up Fixers for Dream Home

The “fixer” buyer pool no longer exclusively consists of contractors and small-scale developers. Instead, deep-pocketed buyers looking to purchase a fixer and turn it into their dream home are increasingly becoming the dominant players in this property category.

A small Noe Valley Victorian recently hit the market (see above photo, left) and attracted multiple offers within a week. The listing agent reported that all offers were from “end users”—industry speak for buyers who will eventually owner occupy the property as their primary residence. There was a time when the only purchasers for a property like this would’ve been contractors looking to flip. Continue Reading

Preview: One Stanyan

Preview: One Stanyan

I had the opportunity to see the newly built condos at One Stanyan. This 13-unit property is a mix of one, two and three bedrooms and is located at the southwest corner of Geary & Stanyan—kind of at the crossroads of Lone Mountain, Inner Richmond, and Laurel Heights.

I liked the finishes, which include white oak wide plank floors, quartz countertops, and porcelain floor tiles. There are Bertazzoni ranges, Fisher and Paykel refrigerators, and Bosch dishwashers.

Here’s a look at unit 24, which is an 1123 square foot 2BR/2BA with deeded patio listed for $1.4M:

Continue Reading

New Senior Housing Underway in Excelsior

I’m very excited about a new and much needed senior housing project currently under construction in the Excelsior—the Frank Residences within the San Francisco Campus for Jewish Living.

The $140 million, five-story project will include 190 senior housing units and a new community center, as reported by J.K. Dineen in The Chronicle recently. Also included in the mix will be 113 assisted-living apartments, 77 memory-care suites and a 45,000-square-foot community center. Amenities there will feature a fitness facility, swimming pool, library, health clinic, dog park, art studio, beauty salon, pharmacy, movie theatre, cafe, performance center and gardens with bocce courts. Continue Reading

2018 In the Bag, Here’s What To Expect in 2019

It was a year of mixed results for our local real estate market in 2018. On the one hand, values were solid and most properties didn’t sit on the market for very long. But on the other hand, there were notable signs of a downward shift.

Yes, the average price of a house was just under $2M, and condos averaged $1.3M. But there were fewer offers on properties, which translated into fewer rabid overbidding situations. We seemed to peak in the Spring, and sellers who listed their homes thereafter didn’t necessarily snag the outlier buyer(s) compelled to pay way over asking to get the property.  Continue Reading

Central Richmond’s Alexandria Condos Selling at Brisk Pace

Central Richmond’s Alexandria Condos Selling at Brisk Pace

Buyers are quickly snapping up condos at new development The Alexandria in the Central Richmond. With half of the 43 units already in contract based on hard hat tours of the still under-construction building, The Alexandria will likely be sold out within the next few weeks.

I took a tour of the project this week, and was quite impressed with the building. The old Alexandra theatre sits on the corner of Geary and 18th Avenue, but the actual condo building occupies the lot behind the theatre on 18th Avenue. So it’s surprisingly quiet with respect to Geary traffic.

The four-story building has one- and one plus den bedrooms, along with two- and three bedroom units (some with dens and balconies). Air conditioning is a standard feature here, as is one parking space per unit. Continue Reading

What’s Selling Now: New Construction Condos

The new construction condo market is constantly changing as new properties hit the market, developers revise pricing, and projects simply sell out. It can be a part-time job keeping track of available inventory throughout San Francisco.

I’ve rounded up my favorite new developments currently selling condos. And if you’re interested in scheduling a tour, don’t hesitate to get in touch . I’m not on the sales teams for any of these developments, but can represent you independently. This means I can get you started with a loan preapproval and walk you through the contract and the entire process—looking out for your best interests.

Here are your best bets for new construction condos right now:
One Mission Bay (110 Channel)
Neighborhood: Mission Bay

Current Inventory: 80 units of 350 available
The Prices: Studios from $575,000; 1BRs from $725,000; 2BRs from $1,250,000; 3BRs from $1.7M
Avge Price Per Square Foot: $1,237
HOA Dues: $622-$825/month
The Perks: Resort-style deck; pool, spa, cabanas and fire pit; resident lounge; library
Buy If: You’d like top-tier amenities and want to be in the midst of a constantly developing neighborhood that’s now on track to be the future home of the Warriors
Developer: CIM Group Continue Reading

Mission’s 1188 Valencia Half Sold Out

Mission’s 1188 Valencia Half Sold Out

Home buyers have given the Mission’s 1188 Valencia condo development a warm welcome, snapping up half of its 49 units since the project came online in December.

I stopped in to see the remaining inventory on broker tour this week, and wasn’t surprised to hear about the rapid-fire sales progress. As far as location goes, it’s a slam dunk on the corner of 23rd and Valencia—near BART and everything else along the Mission’s most popular retail corridor. Continue Reading

What’s Selling Now: New Construction Condos

It can be mind numbing trying to track sales of the more than 1,000 new construction condos currently on the market. After all, there are more than 17 projects actively selling units in a variety of neighborhoods, and sales offices play things close to the vest. You’ll find a limited number of units listed on real estate Web sites; pricing is typically not public and changes continuously based on the most recent sales.

So if you’re drawn to brand new condos, where do you begin to look? With the help of my company, Zephyr Real Estate, I pulled together the vital deets on some of my favorite projects. Note: I am not on the sales teams for any of these projects, but can represent you independently. This means I can get you started with a loan preapproval and walk you through the contract and the entire process—looking out for your best interests.

So check out what’s on tap, and give me a shout if you’d like to explore your options within any of these projects:

201 Folsom (Lumina)
Neighborhood: South Beach

The Homes: 656 condos that are selling quickly
The Perks: Club lounge, private dining room, rooftop terrace, concierge, business center, children’s and game rooms, music practice room, pool, fitness center, spa, pet grooming station, screening room and market
What’s Left: Fewer than 300 units, project is 85% sold and they are now on their last release in Building B. Corner units are in short supply.
The Prices: 1BRs: $1,000,000-$1,700,000; 2BRs: $1,500,000-$3,000,000; 3BRs: $3,100,000+; penthouses: $8,000,000+
Buy If: You are looking for a luxury building with A+ amenities and views
Developer Tishman Speyer Continue Reading

Condo Market Healthy But Flat in Q1 2017

Fewer buyers cared to overbid dramatically for condos in the first quarter of 2017—with a few exceptions when it came to two-level units, or nicely renovated ones in prime locations.

The average condo price for the 524 units reported sold in the Multiple Listing Service (MLS) was $1,270,736, up slightly from the $1,218,956 average in the first quarter of 2016.

Buyers paid a citywide average of $1,027 per square foot, with 24% of all sales changing hands for all cash. Continue Reading

Just Sold: New Construction Condo in Lower Pacific Heights

Just Sold: New Construction Condo in Lower Pacific Heights

My clients just closed on a beautiful two-bedroom/two bath condo in The District at Bush and Divisadero. Their unit at 2655 Bush #421 has European style kitchens with Thermador built-in refrigerators, and Bosch stainless steel appliances, Caesarstone counters with glass backsplash, and in-unit laundry with Bosch washer and dryer.

I’ve been quite impressed with The District, as it offers all the amenities. Where some new condo buildings have limited or mechanical lift parking, residents at The District have wide, independent spaces in the underground garage. There’s also the “Sky Lounge” roof deck with fire pit and outdoor kitchen, a well-appointed fitness center, landscaped courtyard, owners lounge and attended lobby. (There’s even a bathroom on the first floor by the mailboxes, and another one just inside of the Sky Lounge. Good planning.)

#421 was listed for $1,365,000 and sold at asking.

Mission’s Rowan is Chock Full of Amenities

Mission’s Rowan is Chock Full of Amenities

I visited The Rowan last weekend and was impressed with the numerous amenities offered in this nine-story building. It’s what I’d call a “good value” project for home buyers.

Situated on Potrero Avenue at 16th Street on the border of the Mission and Potrero Hill, Rowan is a ten-minute walk from the heart of the steadily developing east end of the Mission. It’s also a short distance from Potrero’s design center and Whole Foods. Rowan’s immediate area has a commercial-industrial-retail feel, with a tire store, McDonald’s, the UPS building and the Safeway shopping center in close proximity. And it should be noted that there’s a prominent homeless presence in the area at the moment.

But buyers have gone into contract on 15 units, of which eight have already closed. Rowan buyers have been exclusively San Francisco residents who work within a mile of the building, in SoMa, the financial district and Mission Bay. And they’re all owner occupiers. Continue Reading

Esprit Park Aging Well, Don’t Overlook It

There’s no shortage of new condo developments in San Francisco these days. It seems like there’s a constant supply of new units hitting the market, with each release offering properties that are shinier and newer than the last.

I toured a few condos in older but still very solid buildings this week. The takeaway? Buyers considering new construction shouldn’t overlook condos in buildings constructed five or more years ago. One shining example is at Dogpatch’s Esprit Park, which is in good shape both physically and within its HOA. Continue Reading

5 Things to Know About Negotiating New Condo Contracts

5 Things to Know About Negotiating New Condo Contracts

San Francisco continues to coast along its construction boom these days, with new developments going up in neighborhoods on a rolling basis—with many more to follow in the next several years.

There are two ways to handle contract negotiations if you’ve decided to buy a newly built—or not-quite-finished—condo. You can go directly to the sales office, or work with a local Realtor. Some buyers feel that they can handle things on their own, while others appreciate the guidance of a seasoned professional who’s negotiated contracts on other developments in the past. Continue Reading

New Construction Condo Projects Hit The Market

Buyers looking for new construction condos are in luck: A batch of new projects will be releasing units in January and February.

I’m not on the sales teams for these projects, but can represent you independently. This means I can get you started with a loan preapproval and walk you through the contract. I will also review the very thick new home package/disclosures with you; and work with the sales team to make sure things go smoothly for your move-in (among other things).

So check out what’s on tap, and give me a shout if you’d like to explore your options within any of these projects:

2655 Bush / The District
Neighborhood: Lower Pacific Heights
thedistrict_2016
The Homes: 81 one- and two-bedroom condos in the $1200/sq foot range. HOA fees range from $650-$850/month, depending on the size of the unit. Parking for all units. 3,800 square feet of retail.
The Perks: Fitness center, full-time front desk, greenhouse, roof deck, residents’ lounge
Buy If: You’d like to be near the restaurants, cafes and bus lines along Divisadero and Fillmore, as well proximity to NoPa and Laurel Village. You’ll also have quick access to medical care; 2655 Bush is in the midst of UCSF and Kaiser campuses.
Who’s Behind It: KTGY Group, KB Homes
Sales Begin: Sales office has just released the first twelve units, including eight 1BRs and four 2BRs. Continue Reading

SoMa’s Sapphire Slashes Prices

SoMa’s Sapphire Slashes Prices

The sales team at 252 9th Street in SoMa, known as Sapphire, has been marketing its 15 well-appointed new condos since September. Though some of the units are in contract, there are still plenty available. And prices are about to be slashed significantly.

Savvy buyers, take note: Sapphire offers one- and two-bedroom condos that feature European oak hardwood floors, high ceilings, kitchens with Bertazzoni gas ranges, and washer/dryer hookups. Amenities include patios or balconies in select units, a fantastic roof deck with amazing city views, bike parking, storage lockers, and elevator service to all levels. HOA dues are in the $400-$500 range. Continue Reading

Get in touch:

Eileen Bermingham

Corcoran Global Living

415.823.4656

eileen@insidesfre.com

DRE# 01352627

Back to Top

Back to Top

Show All
Marina
Mission

There is no custom code to display.