SOMA

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

The Last Top Floor Penthouse at One Hawthorne

One Hawthorne #25D is exclusively represented by The Mark Company.

Penthouses at One Hawthorne have been selling fast; there is only one top floor penthouse left, #25D. It is a 2 bedroom, 2.5 bathroom corner unit with a balcony that offers expansive skyline views.

Listed at $2,895,000, unit 25D is approximately 1,956 square feet and features high ceilings, northern, western and eastern exposures, and an indulgent soaking tub in addition to incredible views of the city and bay.

One Hawthorne is a 165-unit condominium building in SOMA developed by Jackson Pacific and MacFarlane Partners. This residential tower is located in a prime downtown San Francisco location. An on-site state-of-the-art fitness center with cooling terrace and 4,000 sq. ft. roof deck, doorman, concierge services, and 24-hour valet parking are among the many amenities.

Located in the heart of downtown, One Hawthorne puts the very best of San Francisco right outside your door. As illustrated by WalkScore.com, this new residence is a “Walkers Paradise” with a score of 97 out of 100 for walkability and convenience to abundant shopping, world-class dining, cultural events and nightlife. The convenient downtown location connects you to major local and regional transportation assuring an easy commute to virtually anywhere in the Bay Area. Everything you want or need is just minutes away.

For more information about condos at 1 Hawthorne Street or if you’re interested in the last top floor penthouse in this extremely popular building, contact neighborhood professional Todd Montgomery at 415.203.6022 or todd@climbsf.com.

Millennium Tower Sales Update: 90% Sold Out

The Millennium is exclusively represented by Millennium Partners.

The Millennium Tower is 90% sold out, and the luxury condominium building’s listing brokerage, Millennium Partners, just released a sales update with a list of the remaining 2- and 3-bedroom units (there are no 1-bedroom units available).

Grand Residences

27A: $1,640,000, 1517 sq. ft.
29A: $1,680,000, 1517 sq. ft.
30A: $1,690,000, 1517 sq. ft.
32A: $1,720,000, 1517 sq. ft.
34A: $1,760,000, 1517 sq. ft.

City Residences

405: $1,730,000, 1731 sq. ft.
505: $1,760,000, 1731 sq. ft.
PH3: $1,610,000, 1350 sq. ft.

Residences

4E: $1,100,000, 1136 sq. ft., no parking
6E: $1,120,000, 1136 sq. ft., no parking
7A: $1,495,000, 1479 sq. ft., no parking *Offer in*
8A: $1,505,000, 1479 sq. ft., no parking *Offer in*
9A: $1,550,000, 1469 sq. ft., has valet license *Offer in*

The Millennium Tower is a 58-story centrally located in San Francisco’s south Financial District or SOMA at the intersections of Beale, Mission and Fremont Streets. Developed by Millennium Partners of New York City for $350 million and designed by Glenn Rescalvo of Handel Architects and built by Millennium Partners of New York City, the Millennium promises a new era of luxury and sophistication to the Bay Area. The fourth tallest building in San Francisco, the development is actually 2 separate buildings: a 58-story tower and an 11-story podium building.

Containing a total of 419 homes, the building evokes images of a crystal with a multi-faceted facade designed to reflect sunlight at various times of the day much like a sparkling crystal in the sky with the primary 25 floors of the tower containing the “Residences”. The quality of the amenity package is off the charts and raises the bar of city living in San Francisco. The 20,000 square-foot amenity complex includes a massive 5,500 square foot fitness center operated by Sports Club/LA, a children’s playroom, outdoor terrace with beautiful landscaping and seating area, 75-foot indoor competition lap pool under a large skylight, adjacent hot tub, wine cellar, tasting room, a 2,500 square foot Owner’s Lounge with food service from Michael Mina’s RN 74 just downstairs, and a screening room with a 100″ HD projector screen to top it off.

For up-to-date availability information for The Millennium at 301 Mission Street, contact Todd Montgomery at todd@climbsf.com or 415.203.6022.

One Hawthorne Penthouse Sales Update

Exclusively represented by The Mark Company.

Following the recent release of penthouse units at SOMA’s One Hawthorne, only four units remain available, including the last top floor unit.

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24B: 3 bd/2.5 ba, approx. 1943 sq. ft., west-facing, $2,475,000
24C: 3 bd/2.5 ba, approx. 1975 sq. ft., west-facing, $2,475,000
24D: 3 bd/2.5 ba, approx. 1956 sq. ft., corner unit facing west, north and east, $2,750,000
25D: 2 bd/2.5 ba (converted from D plan), approx. 1956 sq. ft., extended ceilings, corner unit facing west, north and east, $2,895,000

All the penthouse units feature dramatic skyline and bay views in addition to the building’s luxury finishes.

For more information about condos at 1 Hawthorne Street or to be one of the last people to buy a penthouse in this extremely popular building, contact neighborhood professional Todd Montgomery at 415.203.6022 or todd@climbsf.com.

Millennium Tower Selling Out Fast

The Millennium is exclusively represented by Millennium Partners.

The Millennium Tower is selling out fast, with only 16 units remaining–less than 10% of the original inventory. There are a variety of two and three bedroom units and a selection of grand one bedrooms to choose from.

The Millennium Tower is a 58-story building listed by Millennium Partners, centrally located in San Francisco’s south Financial District or SOMA at the intersections of Beale, Mission and Fremont Streets. Developed by Millennium Partners of New York City for $350 million and designed by Glenn Rescalvo of Handel Architects and built by Millennium Partners of New York City, the Millennium promises a new era of luxury and sophistication to the Bay Area. The fourth tallest building in San Francisco, the development is actually 2 separate buildings: a 58-story tower and an 11-story podium building.

Containing a total of 419 homes, the building evokes images of a crystal with a mutil-faceted facade designed to reflect sunlight at various times of the day much like a sparkling crystal in the sky with the primary 25 floors of the tower containing the “Residences”. The quality of the amenity package is off the charts and raises the bar of city living in San Francisco. The 20,000 square-foot amenity complex includes a massive 5,500 square foot fitness center operated by Sports Club/LA, a children’s playroom, outdoor terrace with beautiful landscaping and seating area, 75-foot indoor competition lap pool under a large skylight, adjacent hot tub, wine cellar, tasting room, a 2,500 square foot Owner’s Lounge with food service from Michael Mina’s RN 74 just downstairs, and a screening room with a 100″ HD projector screen to top it off.

For more information about 301 Mission Street or to schedule a private viewing, contact neighborhood professional Steve Mi at 415.508.8335 or steve@climbsf.com today.

Just Sold: One Hawthorne St. #4B for $475,000

This property is exclusively represented by the Mark Company.

One Hawthorne St. #4B was just sold for $475,000.

Address: 1 Hawthorne Street #4B
District: SOMA
Bedrooms: Jr 1 BR
Bathrooms: 1 BA
Style: Condo
Parking: Leased
HOA Dues: $512
Offered At: $475,000

One Hawthorne is a 165-unit building developed by Jackson Pacific and MacFarlane Partners. This residential tower, located in a prime downtown San Francisco location, includes an unusually diverse selection of floor plans ranging from 550-square-foot junior one bedroom units to 2,200-square-foot three-bedroom condos. An on-site fitness center with cooling terrace and 4,000 square foot roof terrace, doorman and concierge services, are among some of the many amenities.

More information: http://www.climbsf.com/for-sale/1-hawthorne-st-4b/

Jessie Lee is a certified REO professional and continues to broaden her professional network of REO networks agents, lending institutions, RE asset managers, and professional investors. Jessie is an urban loft, high-rise condominium, and single family home expert. She works tirelessly with a skilled and specialized team of real estate professionals to locate and market only the most attractive and ideal properties for each of her valued clients. She is a skilled negotiator with a penchant for value. She has a firm effective, negotiating style and her growing list of satisfied clients.

Contact Jessie Lee at 415.518.6402 or jessie@climbsf.com to get the best idea of real estate information in San Francisco’s Mission Bay, SOMA, South Beach, Potrero Hill, Mission and Noe Valley areas, in the East Bay (Pleasant Hill, Concord, Walnut Creek, Danville and Piedmont areas), and in the South Bay (South San Jose area).