Mission Bay Reaches End of Condo Construction Boom

It’s been more than 15 years since the very first condo building in Mission Bay first started selling. That was Glassworks next to the Giants stadium. What followed was construction of another nine condo projects in various areas of the steadily growing neighborhood.

But although construction continues for hotels, affordable housing, market-rate rentals, UCSF and other commercial properties, there aren’t any more condo buildings on tap. That means home buyers looking to purchase a home in Mission Bay will have a limited inventory from which to choose.

I’m betting that demand is on the rise for the area. Tech companies are starting to set up shop there, and efforts to improve transit to downtown are underway in the form of the Mission Bay Loop project and the Central Subway extending the T-Third Muni line. And the Warriors’ arrival in the Fall will add an extra jolt to the neighborhood.

I thought it might be helpful to round up the existing Mission Bay condo stock that will be on the resale market. (Pricing data is based on sales from January 1, 2018 to the present.) And keep in mind that there are two fees to know about—the Mission Bay Maintenance Corporation Fee of roughly $35/month, and the Mission Bay Community Enhancement fee that’s .25% of your purchase price.

Here’s what’s out there in Mission Bay:

Glassworks (207 King)
Year Built: 2003
39 Condos
Avge 1BR Price: $1,068,000
Avge 2BR Price: $1,712,500
Amenities: Courtyard, in-unit air conditioning
Glassworks is a smaller building in a high-profile location next to the Giants’ ballpark. It still commands top dollar on the resale market.


The Beacon (250-260 King)
Yr Built: 2004
595 Condos
Avge 1BR: $857,000
Avge 2BR: $1,300,000
Amenities: Outdoor lap pool, two hot tubs, fitness center, club room, dog run, business center, conference room, 24-hour concierge
Things seem to have settled down at The Beacon after several years of HOA/developer litigation. Condos are selling again fairly briskly, and the location is also very convenient for Caltrain, restaurants, and stores on the north side of King Street.


Park Terrace (325 Berry)
Yr Built: 2007
110 Condos
Avge 1BR: $972,500
Avge 2BR: $1,675,000
Amenities: Fitness center, conference room, bike storage, courtyard with catering kitchen, BBQ and bathroom facilities
I love Park Terrace’s townhome-style units that face Mission Creek. So much has developed around the building since I first toured it back in 2007.


Signature II (235 Berry)
Yr Built: 2007
99 Condos
Avge 1BR: None sold in past year
Avge 2BR: $1.4M
Amenities: Fitness center, landscaped courtyard
Also in a nice creekside location, 235 Berry is currently in litigation, so lending options are limited.


255 Berry
Yr Built: 2004
100 Condos
Avge 1BR: $975,000
Avge 2BR: $1,373,000
Amenities: Concierge, door person, roof deck, courtyard
Yet another classic creekside condo building where you can fall out the door and onto the promenade.


Arterra (300 Berry)
Yr Built: 2008
269 Condos
Avge 1BR: $919,000
Avge 2BR: $1,322,000
Amenities: Guest condo, furnished roof deck with BBQ area, club room, fitness center
Arterra is one of my favorite Mission Bay buildings. Units can get a little hot when it’s warm out, as there’s no air conditioning in the building. But I love the location and the fact that the building was the first LEED-certified, green high-rise community.


Radiance (330 Mission Bay Blvd)
Yr Built: 2008
99 Condos
Avge 1BR: $960,000
Avge 2BR: $1,450,000
Amenities: Attended lobbies, landscaped rooftop courtyard with fire pit and BBQ area, fitness center, club lounge
I remember touring the townhouse-style units that fronted the Bay back when Radiance was under construction. It was literally the only thing there, surrounded by dirt. I continue to be impressed with the array of amenities. It’s worth noting however, that the HOA is currently in SB800 litigation with the developer, so make sure you review disclosures and find a lender who can do loans there.


The Madrone (420 Mission Bay Blvd)
Yr Built: 2012
329 Condos
Avge 1BR: $925,000
Avge 2BR: $1,500,000
Amenities: Heated lap pool and spa, terrace lounge, outdoor grill, steam room/sauna, social room with catering kitchen, game room, movie theater
Mission Bay luxury at its best, Madrone sits directly west of Radiance. (Bosa Development built both properties.)


Arden (718 Long Bridge)
Yr Built: 2015
267 Condos
Avge 1BR: None sold in past year
Avge 2BR: $1,700,000
Amenities: Landscaped rooftops, outdoor lap pool and spa, fireside lounge with outdoor fireplace, lounge with library, pet grooming station
Arden sits on the other side of the creek from the Berry buildings, and there’s a good amount of outdoor space surrounding the building. Families with small children will like the kids park behind Arden, and dog owners will also appreciate the parks.

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Contact Eileen for Real Estate Help

Eileen Bermingham

Corcoran Global Living

415.823.4656

eileen@insidesfre.com

DRE# 01352627

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