Category Archives: High Rise

Lumina San Francisco | A Virtual Tour

Continuing to keep you updated on all things Lumina…

As is always the case, if you, or anyone you know, would like assistance securing a unit in this amazing development, or have any questions regarding this building, or San Francisco please contact me:
Alex Clark
415-254-5351
alexclark@gmail.com

-More information about Lumina [theFrontSteps]

Lumina SF | 200 Offers On First 52 Units Released | Second Release Happening Now

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Continuing to bring you all the updates on one of San Francisco’s most hyped and happening new developments, Lumina SF, I wanted to quickly follow up on the last post I did with updated pricing on the first release of units. For full details about the Lumina SF development, including amenities and finishes, check out my original post.

So how did that first release go? Was it as insane as everyone expected? I’d say yes. From a reliable source:

Lumina received about 200 offers for the 52 released units. A few were accepted and most were asked to come back with “highest and best.” Additional units were released to absorb more of the interest, resulting in approximately 80 sales. The next release MIGHT BE first come, first serve but buyers that have not prevailed will be given priority, if possible. The next release will not be for a week or more as they are swamped, getting this group of contracts written.

That’s old news. Second release is happening now, and I’d be happy to help you secure a unit in this amazing luxury building.

Alex Clark
Paragon Real Estate Group
415-254-5351
alexclark@gmail.com

-Lumina SF: Pricing, Square Footage, and Timing of Sales – An Update [theFrontSteps]
-Lumina – Luxury High Rise Living In Downtown San Francisco [theFrontSteps]

San Francisco Real Estate Third Quarter Report

San Francisco House & Condo Values
Which Neighborhoods Dominate Home Sales?
Who Is Buying the City’s Luxury Condos and Why?

September saw the largest surge of new listings coming on market in the past 2 years, which led to a big jump in deal-making, but data on transactions negotiated in September won’t be available until most close escrow in October and early November. In the meantime, we’ll look at the last 2 quarters.

Median Sales Prices & Average Dollar per Square Foot
The following 2 charts look at current and longer-term trends in home values. As is common, median house sales prices dropped a bit in the 3rd quarter – this is due mostly to seasonality issues – though condos have held steady for 3 quarters now at $950,000. Dollar per square foot values have continued to increase to new peaks: This metric is particularly being impacted by new-development condo sales, which are breaking dollar per square foot records virtually everyplace they’re being built.

If you wish to drill down on values in very specific city neighborhoods, we recently updated our interactive map, which can be found here: SF Home Price Map

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Where Home Sales Occur at What Prices
Continue reading San Francisco Real Estate Third Quarter Report

Lumina SF: Pricing, Square Footage, And Timing Of Sales – An Update

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I received new information regarding pricing, square footage, and timing of the Lumina residences, which I have edited and put in the original post, which you can find here, but if you’re on the email drip system, here you go:

Pricing (Phase 1):
-Studios: approximately 650 square feet, from $695,000 to $825,000
-1BR: approximately 850 to 870 square feet (Tower) and approximately 880 to 1100 square feet (Plaza), from $865,000 to $1,150,000,
-1BR + Den: from $865,000 to $1,160,000
-2BR: approximately 1170 to 1570 square feet (Tower) and approximately 1400 to 1500 square feet (Plaza), from $1,225,000 to $2,295,000
-3BR: approximately 1790 to 2670 square feet (both Tower & Plaza buildings), from $2,350,000 to $5,350,000

Currently no offers are being accepted, but will be considered starting Monday 9/29/14 by noon thru Friday 10/3/14. There are currently ONLY 52 units on offer in ONLY two of the buildings (as stated). After this release, they expect a much larger release of units in the second phase, and pricing will not be the same.

Units available in this release are in the Plaza A (mid rise building) on the 4th Floor, and Tower D (shorter of two towers) on floors 7,12,18,23,30…that’s it. Occupancy projected for late 2015 and 2016 respectively.

-Lumina SF: Luxury High Rise Living In Downtown San Francisco – The Inside Scoop [theFrontSteps]

San Francisco Condominium Prices Increase 19% YOY

Below, and attached, you will find the recent condominium sales report from the Mark Company, one of the leaders in new development sales in San Francisco. They have a keen eye on all things new construction, high rise, and luxury that is popping up around town, and they are behind many of the sales offices you might be visiting. To say they know the high rise market in San Francisco would be an understatement. They are truly the front lines, so have a look.

APRIL 2014 SAN FRANCISCO CONDOMINIUM PRICES INCREASE 19 PERCENT OVER PREVIOUS YEAR
The Mark Company Trend Sheet Tracks New Construction and Resale Market Trends

San Francisco – May 19, 2014 – San Francisco condominium prices rose 19 percent in April 2014 over the previous year, according to the Condominium Pricing Index released today.

The Mark Company Condominium Pricing Index for April was $1,115 per square foot, which is up 8 percent from March. New construction inventory was 45 percent lower than a year ago, and down 1 percent from the previous month with only 136 units now available.

‘The Condominium Pricing Index underwent by far its largest single month gain this year, building on an already strong market in San Francisco caused by low inventory and extremely strong demand,’ notes Erin Kennelly, senior director of research, The Mark Company. ‘However, a surge of new condominium projects scheduled to come online this year may indicate an easing of the city’s inventory crunch.’

The Condominium Pricing Index, part of the firm’s monthly Trend Sheet, represents the price per square foot of a new 10th floor, 1,000-square-foot condominium. It is based on recent sales data, and uses a proprietary quantitative method to measure trends in market demand. It tracks the value of a new construction condominium without the volatility of inventory changes.

The Mark Company Penthouse Pricing Index, which applies the same methodology to a new 30th floor, 2,000-square-foot condominium, was $1,915 per square foot in April, up 19 percent year over year.

The condominium price per square foot was $927 for resales, up 7 percent from March 2014 and up 19 percent year over year, according to The Mark Company Trend Sheet for San Francisco. In addition, there were 307 condominium resales in San Francisco in April, 259 active condominium listings representing less than one month of inventory, and 155 pending condominium listings.”
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With what little inventory there is all across the city, versus what incredible demand remains, these numbers should come as no surprise.

As always, I’m here to help if you have any questions, or would like to buy or sell in any luxury high rise tower in San Francisco.

-The Mark Company Trend Sheet (pdf)