Category Archives: 888 Seventh Street

888 7th Street, 85% sold and looking for your $399,000

According to more Realtor Spam (it’s really getting out of control, but some of it is useful):

888 7th Street

Just a reminder, we are about 85% sold at our new building at 888 7th Street in the Showplace Square/lower Potrero area. We have a limited number of junior one bedrooms homes available starting at $399,000. We have a limited number of one bedroom homes available starting at $499,000. These are great prices and great deals for first time home buyers.

-Website

-More on 888 7th Street [theFrontSteps]

Learning Something about BMRs for Infinity and 888 Seventh

888andinfinity.jpg

Recently, we reported about the brisk selling of the BMR (Below Market Rate) units at 888 Seventh Street, and how they were snatched up in a matter of seconds. Thanks to a reader’s inquiry in the comments of that post, we dug a little deeper and learned that of those 170 BMR units, only 27 are the BMRs for 888 Seventh, the other 143 are the BMRs for the The Infinity. Translation: The Infinity has put all it’s BMR’s off site in 888 Seventh Street. Certainly didn’t know this, but now we do, and so do you.

-Mayor’s Office of Housing [website]

-1 Part Infinity, 1 Part Dwell, 2 Parts You! [sfn BLOG]

888 Seventh Street: an update

888seventh.jpg

Back on November 17, 2006, 888 Seventh accepted applicants for their 170 BMR (Below Market Rate) units of a total 224 Units. They received around 3800 of them! Pricing for the studios was around $199,000, 1 bedrooms around $230,000, 2 bedrooms around $250,000, and 3 bedrooms $299,000-350,000. The building itself is quite nice, location is improving, but the story here is the amount of applicants for the BMR units, and the amount of income (one person $63,850, two persons $72,950, three persons $82,100, four persons $91,200) necessary to qualify for BMR.

For more information on BMR you can find a good bit on 888 Seventh’s website by clicking “About”, then “BMR Q&A”, or visiting the Mayor’s Office of Housing website.

The Market Rate units (28 studios, 18- 1 bedrooms) are expected to go up for sale in July-August, parking costs an additional $35,000 (BMR and Market Rate Price) construction has topped off the 6th floor (last), and they expect the closings to happen in January.  We’re guessing (the sales office wouldn’t tell) pricing for the studios and 1 bedrooms around $500,000. 

Things are moving along smoothly, and briskly in yet another Mission Bay Development.

-Mayor’s Office of Housing [website]

-What’s going down (or up) in Mission Bay [sfn BLOG]

-888 Seventh [website]

[pic taken from property website]