SF New Developments

The SOMA Grand, having finished construction on the residential portion of their 22 story – 246 unit tower, opened their doors to the general public this past weekend. By all accounts the SOMA Grand public opening was a huge success, with ~160 buyers touring the property and 13 new reservations placed by the end of business on Monday. Last weekend’s sales activity brings SOMA Grand up to 46% sold/reserved, making it currently one of the best selling buildings in San Francisco.

SOMA Grand’s recent success has spurred the developer to increase prices across the board by $5,000 twice in the last 3 weeks. An additional price increase is expected either this weekend or after Easter Sunday.

Savvy buyer’s who don’t require parking, or instead decide to rent parking in the SOMA Grand garage are taking a $55,000 credit towards the purchase price and avoiding the monthly valet fee. This option is made even more realistic by the presence of CityCar Share on site at SOMA Grand.

SOMA Grand availability and sales figures.

• 22 story tower – top floor penthouses
• 246 units
• 46% sold
• 1 bedrooms: mid $500s – high $700s
• 2 bedrooms: mid $700s -1.2+M
  • #706: spacious NE corner unit with downtown views $975k.
• 3 bedroom penthouses: under $2M

#706 Floor Plan

Popularity: 56% [?]