Rincon Hill

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.

For more information about buying at 425 1st Street or to see his newest listing at One Rincon Hill, contact Matt Finley at matt@climbsf.com or 415.412.6838.

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 matt@climbsf.com.

One Rincon Hill: Sold – #1304, 1 Bedroom 1 Bathroom

One Rincon Hill: Sold – #2702, 2 Bedroom 2 Bathroom

Matt Finley just recently sold another exciting unit at One Rincon Hill (425 1st Street). This spectacular 2 bedroom, 2 bathroom south/east corner unit #2702 with unobstructed Bay Bridge, AT&T Ballpark and South Bay views is the undisputed best view in all of South Beach area. This exceptional unit sold as a pocket listing, as Matt secured a buyer before officially hitting the MLS.

If you are interested in hearing more about One Rincon Hill, please contact Matt Finley at 415.412.6838 or matt@climbsf.com. Ask him about One Rincon Hill Phase 2, currently under construction.

Matt Finley is the #1 Resale Agent at One Rincon Hill for Total Listing and Total Sales Volume 2011- 2012.

One Rincon Hill Phase 2 Construction Update

This property is exclusively by Polar Pacific.

 

After several months of excavation and off haul, the One Rincon Hill Phase 2 project is finally at the bottom of excavation. As excavation completes, Webcor builders were able to pour the remainder of the concrete slab to complete the underpinning.

In the middle of the project site, an elevator pit was dug out and received a concrete under-slab.Waterproofing was placed in this pit on Wednesday, while rebar and concrete quickly filled it in. The project is ready for rebar installation which, upon completion, will prepare Webcor for foundation concrete pour.

The expected date to place foundation is November 17th. During construction activity, the Harrison Street off ramp will be closed. The closure begins at 10:00 pm on November 16th and will continue through 10:00 pm on November 17th.

Normal working hours on this project will continue between 7:00 am and 8:00 pm.

Please call Matt Finley at 415.412.6838 for the most accurate information on One Rincon Hill Phase 2, 401 Harrison Street, San Francisco.

Source: Rincon Hill Neighborhood Newsletter