The Ten Most Popular Areas for New Development in San Francisco
The ten most popular areas for New Development in San Francisco may surprise you. There are tons of new properties that are either for sale, approved for development, or already developing in the heart of San Francisco. Excluding Candlestick/Hunter’s Point, Park Merced, and Treasure Island, here are the most popular places for new home developments in San Francisco:
10. The Mission (930 new units)
9. The Excelsior (1,210 units)
8. Western Addition (1,240 units)
7. South Beach (1,340 units)
6. East SOMA (1,480 units)
5. Mission Bay (2,088 units)
4. Rincon Hill (2,370 units)
3. Market/Octavia (2,410 units)
2. Showplace Square/Potrero Hill (2,950 units)
1. Downtown/Mid-Market (nearly 4,000 units)
For more information about new condo developments in San Francisco, contact Sean Sullivan at 415.215.0554 or email@example.com.
New Bike Share Program in San Francisco
Bay Area Bike Share has launched over 300 bicycles in San Francisco and additional bicycles around the neighboring cities such as Mountain View and San Jose. The program has bikes that are available for rent 24/7 at 70 different locations.
The bicycles are held at different stations around the city and can be rented whenever you need them, once you’ve signed up for membership (which you can do online or at any station). The annual pass costs $88, the three-day pass is $22, and the daily pass is $9. The pass lets you use the bike for one 30-minute interval; additional fees are $4 for the first half hour the bike is late and $7 for every half hour after that (up to $150 per day). You can return the bike to any station. Failing to return or losing the bicycle will result in a $1,200 charge to your credit card.
Bike Share stations in San Francisco are mostly concentrated around downtown, with locations in SOMA, South Beach, Civic Center, Mid-Market, Rincon Hill, the Financial District, and along the Embarcadero. There are stations outside each of the downtown BART stations for easy access if you’re visiting from the East Bay, and two stations near Caltrain if you’re coming up from the Peninsula or South Bay.
San Franciscans love having lots of options for how to get around the city, and the Bay Area Bike Share program looks to be an interesting new choice. For more information about living in San Francisco or how to buy a home in the city, contact Sean Sullivan at 415.215.0554 or firstname.lastname@example.org.
One Rincon Hill: Sold – Penthouse #5604 Record Sale
Matt Finley and Marcus Lee recently sold One Rincon Hill’s premier penthouse unit #5604 at a record price per square foot for the building. Located at the top of One Rincon Hill, this 56th floor 2 bedroom plus den, 2 bathroom condo sold at $2,550,000, setting another new standard for the building at over $1,600 per square foot. This is the highest cost per square foot ever recorded at One Rincon Hill and sellers are ecstatic! One Rincon Hill is recognized as the highest residential condominium west of the Mississippi, standing at 60 stories, and the soaring height provides panoramic views spanning from the Golden Gate Bridge to Marin, Alcatraz and the Bay Bridge.
For more information about luxury condominiums for sale at One Rincon Hill (425 1st Street), contact Matt Finley at matt@climbSF.com or 415.412.6838.
One Rincon Hill – Sold #2802, 2 Bed/2 Bath Deluxe Record Sale
Matt Finley just sold a 2 bedroom, 2 bathroom deluxe condo at One Rincon Hill for the highest cost per square foot ever to be recorded for the southeast corner “02″ plan. At a selling price of $1,700,000 and a cost per square foot of $1,172, #2802 set a new standard in sales in the building.
New Development Prices Rising: Certified Pre-Owned Condos An Attractive Alternative
With so few new developments coming on the market, historically low interest rates, and high demand for real estate, prices on new developments are projected to exceed $900-$1,000 per square foot. In addition, sellers traditionally pay transfer tax at a rate of $6.80 per $1,000, but in new construction, this cost is passed along to the buyer. Many new developments don’t have parking available for every unit, so parking may be sold separately. What is the cost-conscious buyer to do?
How about buying a “certified pre-owned condo”? There are several dozen luxury condo buildings in fantastic locations throughout San Francisco that have been built in the last 10 years you may want to consider. Many have true parking spaces included, the seller pays the transfer tax, and prices are more affordable than units that are brand-new. Here are just a few buildings you may want to consider.
The Palms is located in SOMA on the border of South Beach at 555 4th Street. It features 1-bedroom and 2-bedroom units. Over the last 12 months, the average 2-bedroom unit sold for approximately $770,000, at $755 per square foot. The Palms has concierge service, a full-time doorman, a fully equipped business center with a conference room, a private 20-seat theater, a fitness center and a landscaped courtyard.
The Hayes is in a prime part of Hayes Valley located at 55 Page Street. With a walk score of 95, this Heller Manus-designed building is highly desirable. Over the last 12 months, the average 2-bedroom unit sold for approximately $850,000, at $785 per square foot. The Hayes features a landscaped roof deck, fitness center, kitchen cabinetry from Studio Becker, and large bay windows.
The Metropolitan, a.k.a. “The Met”, has two prestigious addresses: 333 and 355 1st Street. With 354 units located in the heart of Rincon Hill, The Met is one of the best-run buildings in San Francisco, and Climb’s own Marcella Bartolini is the former manager of these luxury homes. Over the last 12 months Marcella has sold two units and has two others in contract. She is also working on some other listings that will soon become available. The Metropolitan is a 24-hour doorman building with a fabulous gym, movie theater, business center, conference room, and indoor pool.
If you have been waiting to see what you can afford, contact a Climb agent for these and other buildings throughout San Francisco.
Data source: San Francisco MLS
One Rincon Hill: In Contract – #3707, #3103 and #1106
It’s been a very active year so far at One Rincon Hill (425 1st Street) as Matt Finley just put three properties into escrow. The market is red hot in the South of Market area! We are seeing heavy walking traffic, multiple offers and overbidding as a sign of the strength of One Rincon Hill and the SOMA/South Beach/Rincon Hill area real estate market.
3 escrows opened in the last 30 days:
- 425 1st St. #3103: 2 bedroom, 2 bath deluxe – southwest corner listing at $1,275,000
- 425 1st St. #1106: 2 bedroom, 2 bath – northwest corner listing at $1,000,000
- 425 1st St. #3707: 1 bedroom, 1 bath – northeast corner listing at $849,000
The structurally-unique high-rise condo towers of One Rincon Hill are perched dramatically on the top of Rincon Hill. Comprised of 14 townhouses and 695 condominiums, One Rincon Hill’s two towers will reach 45 and 60 stories respectively and offer spectacular vistas of the entire city of San Francisco. Completed in 2008, One Rincon Hill is the most significant addition to the San Francisco skyline in 30 years.
Designed by the Chicago architectural firm Solomon, Cordwell, Buenz, and Associates in a late-modernist style, the One Rincon Hill towers resemble a linear glass curtain wall with a curved southwest side. With 26 different floor plans for the 695 units and range in size from 600 square feet to 2000 square feet, One Rincon Hill condos offer luxury finishes such as bamboo flooring, sleek Italian cabinetry from del Tongo, Subzero stainless refrigerator and Bosch appliances. Floor-to-ceiling insulated glass curtain walls offer panoramic views of the city or the Bay. Ultra-luxury amenities such as a 24-hour doorman, concierge, full service valet parking, a club-quality professionally equipped fitness center with steam rooms and showers, a full-size outdoor pool with beautifully landscaped garden deck, a gourmet barbecue area, and a reflecting pool with infinity edge set One Rincon Hill apart.
Located on Rincon Hill, next to South Beach and Financial District and blocks from the Bay Bridge, Highways 101, 280, BART, and Caltrain, One Rincon Hill’s prime location provides easy access to downtown, East Bay, and the Peninsula.
For more information on these listings at One Rincon Hill or other properties in Rincon Hill, South Beach and SOMA, please contact Matt Finley at 415-412-6838 or email@example.com.