luminapool

Lumina Sales Center Says Thanks

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It’s not everyday a development runs an ad thanking those that have helped make it a success, but Lumina just did. I’m proud to be one of the many agents bringing buyers through the door, and making it a resounding success.

The LUMINA Sales Team & Tishman Speyer would like to extend their sincerest gratitude to those of you who have helped bring the vision of LUMINA to life.

Lumina San Francisco
Thanks Lumina sales center, it’s a pleasure working with you guys. Here’s to 2016 getting more people to recognize the sheer awesomeness of what you’re creating.

Contact me to get into Lumina today.

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SOLD | 1177 California #304, Gramercy Towers | Nob Hill

Congratulations to the buyer and seller of my most recent transaction! What a smooth one it was. If only all of them went this well. Minimum hassle, and sold at $790,000…just a touch over asking. What a wonderful building run by amazing individuals! I felt very lucky to interact with so many of the people (especially Nolly and Sonny) that make Gramercy Towers a pleasure to visit. If you live there, you’re lucky. Prime Nob Hill Location, full amenity building, and you even get a Steak House downstairs (surely there is a vegetarian option too…this is San Francisco after all.)

Listing Details:
$779,000
1 bed
1 bath
1 car parking
Remodeled Kitchen and Bath
Views
Liebherr Refrigerator
Miele Dishwasher
Fagor Range/Oven
Caesarstone Countertops
Designer Cabinets
Custom Closets
Bar seating
Views
HOA Dues: $848.83 (Includes earthquake insurance, PG&E, heat, water, garbage, common area maintenance, 24/7 lobby, onsite management, and reserves.)

Congratulations all the way around.

If you live in Nob Hill, and are considering a sale, please don’t hesitate to contact me.

1177 California #304, Property Details [theFrontSteps]

1177 California, Gramercy Towers Pool

SOLD | 1177 California #1024, Nob Hill, San Francisco

I’m pleased to announce the successful off market purchase of an awesome unit at Gramercy Towers in San Francisco’s one and only Nob Hill district. My clients got word of this new listing, called me up, and we snagged it before it had a chance to go to MLS. They are thrilled, seller is happy, all is good.

Two bedrooms, two baths, remodeled, views, and great layout. Sales price $1,650,000.

Tired of getting beat out by multiple buyers…you gotta get somebody like me on your side. I have great relations with the majority of San Francisco realtors, I’m a member of the Top Agent Network, and I have my finger on the off market pulse, although my clients sniffed this one out…but that’s what it takes! Teamwork.

Representing buyers and sellers of amazing and unique property is what I do. This property is no exception.

Contact me, I’ll help you out.

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

Feb 2015 SF New Condominium Prices Up 19% YOY

FEBRUARY 2015 SAN FRANCISCO NEW CONDOMINIUM PRICES RISE 4 PERCENT FROM PREVIOUS MONTH, UP 19 PERCENT OVER A YEAR AGO

San Francisco – March 10, 2015 – San Francisco new condominium prices rose 4 percent in February 2015 from the previous month, according to the Condominium Pricing Index just released by The Mark Company, a leading urban residential marketing and sales firm. Scroll to the bottom to see the trend sheet.

The Mark Company Condominium Pricing Index for February was $1,221 per square foot, which is 19 percent higher than the previous year and four percent higher than the previous month. Tied with October 2014, this four percent increase is the highest monthly increase since April 2014.

New construction inventory was down 7 percent from last month, but 1,715 percent higher than a year ago. “Despite the addition of more than 1,600 units in 2014, there are now a total of 708 new condominium units available for sale in San Francisco,” said Erin Kennelly, senior director of research, The Mark Company.

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 $2,097 per square foot in February, up 4 percent from the previous month and 19 percent higher year over year.

The average price per square foot for resale condominiums, which is more volatile than the Condominium Pricing Index, was down 6 percent month over month, and is 3 percent higher than a year ago, according to The Mark Company.

Resale inventory remains extremely low. “There are now only 81 active resale listings, representing only 1.4 months of inventory at the current pace of sales,” noted Kennelly. Six months of inventory is considered the equilibrium between a buyer’s and a seller’s market.
The Mark Company has also released the February Downtown Los Angeles Trend Sheet and Pricing Index, as well as the Downtown Seattle Trend Sheet and Pricing Index.

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New Year, New Beginning?

theGoods_sfHappy New Year!

I hope everyone had a great holiday and New Year’s celebration. Let’s kick off the 2015 blogging with some Stats & Numbers via sfnewsletter, which focuses on the past three years of real estate market activity, as well as a look way back to the 1980’s (were you born yet?), and some random facts about where we San Franciscans spend our money: Reset, Recovery & Randomness – sfnewsletter 1/9/15

As always, it’s chock full of interesting tid bits and random data, as well as a new link to San Francisco’s Most Recent Sales, New Listings, Overbids, Underbids, and Stalefish (Still Available property).

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]

luminapool

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]

Go Giants!

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

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

luminasf1
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]