Category Archives: Symphony Towers

Symphony Towers Price Slashing Success

From the press release and maybe a little proof (if you want to call it that) of the “it’s a great time to buy” mantra:

For Symphony Towers, high-rise condos in the heart of San Francisco at 750 Van Ness Avenue, smashing prices equaled a smashing success as their Turk Tower closeout sale netted a whopping 18 contracts [out of 20 available. Nearly 1000 inquiries (Web site or at sales center) in the 3 weeks of the promotion.]

During the sales event the weekend of Nov.14-16 and Symphony Towers dropped prices more than $100,000 on studios and one-bedrooms — and the public responded. Hundreds of condo shoppers visited the sales center a few weeks prior to, and including, the closeout weekend, attracted in part by the “market correction” that potential buyers have been waiting patiently for, and perhaps, even expecting.

“The success of this promotion proves there are buyers out there; many just looking for an extra reason to jump off the fence and purchase a new home,” said Kim Cole, vice president of sales for Pacific Marketing Associates, the local firm in charge of sales and marketing for Symphony Towers. “This developer cut to the chase and offered firm reductions that simply couldn’t be ignored.

“Couple that with some post-election optimism and a great product in the heart of the City, it’s no wonder these homes were so quickly snapped up,” she added.

With the promotion, studio homes at Symphony Towers started at $295,000 — virtually unheard of for new construction in San Francisco, and likely the most significant price reduction yet by any development in the City. Comparable options that inexpensive were previously only found in the East Bay. Moreover, since Symphony Towers was already about 70 percent sold and occupied, buyers discovered that loans were easier to get.

Only two homes remain in the Symphony Towers’ nine-story Turk tower, with about 30 remaining in the taller Van Ness tower.

Don’t ask for details, because we don’t know them. Just getting info to you with GodSpeed (means don’t shoot the messenger). And no, so far nobody has come forward for their 50% rebate.

Symphony Towers Slashing Prices, theFrontSteps Giving Back

Symphony Towers is slashing prices on some of their remaining units in Tower One (as reported by our very own Anna Marie Hibble),

…but we’d like to sweeten the pot. They’re offering 4% Broker commission to people like us (Realtors), but we like to give back (we’re givers, you see). So if you’ve wanted to purchase one of those units, we’ll give you 2% of our 4% right back.

That’s one helluva deal. Contact Us for details.

New Developments Face a New Reality in SF

 

I’ve heard from multiple sources that SF real estate is, for the most part, immune to the havoc wreaked on other parts of the US. But sales at our most recent condo complexes show that happy-smile-don’t-worry line of rhetoric is about as reliable as the clown’s was in Poltergeist (Happy Halloween!).

 

 
Socketsite reports that Symphony Towers, with only 55% of its units sold, has recently reduced prices 30%. The “Tower One Close Out,” advertised on the building’s webpage, demonstrates:
 
T-907 Penthouse studio w/built in Murphy bed & views $515,000 $419,000
T-602 1-br, Quiet courtyard location $565,000 $449,000
 
You have to wonder if those buyers among the 55% sold group are perhaps a wee bit upset. You might also wonder if you can’t, given the hint of desperation (“close out”= we really, really want to sell these goddamn condos!), get one of these units for even less than the advertised price.
 
Plus, Symphony Towers is not the only recent development cutting prices. The Hayes is also making cuts, despite its central location and uber-hip marketing (including requisite “ambient” track playing over your web tour of the property, a photo from which appears below). #610, for example, is a 1 bed/1 bath down now from $599K to $499K.  
inside "The Hayes," life is fabulously vogue

 

 
The Arterra, our newish “green” building at 300 Berry St. is also offering reduced prices, (such as #904, a 1 bed/1bath down from $649K to $599K), as is The Potrero.  
 
More good news for people who love bad news is that, according to the San Francisco Business Times, construction has been suspended at 535 Mission St: “The $100 million HOK-designed tower was put on hold earlier this month in response to worsening market conditions.”   
 
Well then. Seems like if one wants to buy right now, one should take these worsening conditions to the negotiating table. Don’t invite the clown.
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Photo credits, respectively: Scary ass clown: Brain Handles.com; The Hayes staged unit: The Hayes.com.
 
 
 

a little sale in a BIG development (Symphony Towers)

Lest you think we focus exclusively on the high end of the spectrum, we thought you’d like to know about the low end (in price, not quality…size doesn’t matter either, right?)

An itsy bitsy studio at the Symphony Towers recently closed escrow for a reported price of $349,000 (asking $399,000).