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.
Photo credits, respectively: Scary ass clown: Brain; The Hayes staged unit: The

We’re going to Paris! But you need to buy first

Seems as we’re on the receiving end of just about every promo out there, and some are just too good to pass up. “It’s simple – write and close the most contracts at The Potrero between November 9th and December 31st 2007 and you could be on your way to Paris.” (You meaning us, the agents.)


Since we’re not big fans of stinky Paris subways, smoking fags (those are cigarettes to the un-trained Euro traveler), and all the sexy French women, we’ll just write the contracts for you, get you in a sweet pad at The Potrero, and should we win, we’ll pick one of you to send on your way to Paris. How about that? So not only would you get the insane buyer incentives, (last check it was two years paid HOA, W&D, and Fridge) , but a trip to gay Paris as well. (Gay Paris pronounced Gay Pear E)

You know where to find us to get you in the door.

Fine print: It’s just tickets, no hotel or anything else…but at least they’re business class, and we’ll throw in a Frenglish dictionary for you.

p.s. We’re totally joking about not liking Paris…we love it there.

The Potrero South Building Now Selling [theFrontSteps]

More Incentives at the Potrero [theFrontSteps]

Stump the Stammtisch: What do you think of the Potrero (451 Kansas)?

In another test of our growing amount of knowledge via new members to our Stammtisch, a reader asks our opinion. Hopefully, he/she’ll get an answer.

“Hi there,

What do you think of the Potrero development? Do you think housing prices in this area will appreciate, since it is considered up and coming?




Please feel free to help this reader form an opinion on the development and area, and look for some expert opinions from some of our Stammgäste, by checking and contributing to the comments.

The Potrero, South Building now selling [theFrontSteps]

The Potrero [website]

The Potrero (451 Kansas) South Building Now Selling

Just a quick little note letting you all know the Potrero has begun selling homes in their south building. They also appear to be offering the same limited time offer as they were on the north building back in May. That offer being 2 years of HOA dues, a refrigerator, washer and dryer at no charge. [Update 7/16/07: According to a reader, that deal has ended.]

We’re just excited to be able to throw out the sweet renderings from zūm llc again:




As soon as we can get some pricing and details on these units for you, we will post what we find out.

[Update 7/5/07 12:23pm:

The South Building will be a mix of units with views of the bay and downtown (select units).

-Studios from $459,880

-1bed, 1 bath from $628,880

-1bed + den, 1 bath from $689,880

-2bed, 2 bath from $795,880

This release also includes the last of the remaining Town Homes.

-ONLY three 3bed, 3 bath Town Homes remain: priced from $955,880 – $988,880

The 2 years paid HOA, Refrigerator, Washer & Dryer are only good for one final weekend July 6 – 8th. After the 8th of July the current incentives will no longer be part of any offering. That’s what we know, as that’s what we’ve been told.]

The Potrero [website]

the Potrero [theFrontSteps]

zūm llc: a 3D “picture medley”

Ever hear the Jane’s Addiction song, “L.A. Medley”? If not, you should. We recently discovered zūm llc as the company that has done some 3D renderings for some of the new developments around town (The Potrero, Blū, Fairmont Heritage Place at Ghirardelli Square, 733 Front Street) and we decided they are deserving of our first “picture medley”. We’re always happy to support local businesses, so we contacted them, they replied, and you get to…ENJOY!

Fairmont Heritage Place at Ghirardelli Square:






733 Front Street:




Blū (631 Folsom):



The Potrero (451 Kansas):







Pretty Impressive isn’t it?

Some bullet points describing in brief what zūm llc does for the owner/developer…

In most cases they are retained directly by the owner/developer to assist the clients’ design and marketing teams for:

·Sales & Marketing

·Pre sales and Pre leasing

·Feasibility and Environmental studies

·Investor review process

·Design review process

·Government review process

As a person in the real estate business, with clients that sometimes make purchases solely off of pictures (myself included…not recommended, but common), the old saying a picture is worth a thousand words holds true. Now I can say a high-res 3D picture is worth two thousand words. Thanks to zūm llc for enlightening us.

We’ll get some information for you regarding Blū, and the Fairmont, and an update on the Potrero and 733 Front as soon as we can. We might also add that we “are the only blog that has these images right now“, so if you’re seeing them somewhere else, remember you saw them here first. Now, go back up and look at those pictures again. You deserve it.

The Potrero


Fairmont Heritage Place at Ghirardelli Square

733 Front Street

733 Front Street: a walkthrough and opinion [sfn BLOG]

The Potrero: Developer’s Specials


Our friends at The Potrero, Potrero Hill’s newest development with prices starting at $404,880 for a studio, and working their way up from there for one and two bedroom condos, and two and three bedroom townhomes, have decided to release a few “developer’s specials”, and you’re hearing it here first. [Update: they just hit MLS.]

If you are interested in these developer’s specials (we were), you simply need to go to the sales office and “tell them sfnewsletter sent you.” They’ll be happy to give you all the details and show you around. Here’s what we can tell:

#475- $569,800

1 bedroom/1 bathroom

661 SF

Located on North Courtyard

* Includes Fischer Paykel Refrigerator & GE Super Capacity Washer & Dryer

#382- $739,880

2 Bedrooms/2 Bathrooms

932 SF

Located on Rhode Island St.

* Includes Fischer Paykel Refrigerator & GE Super Capacity Washer & Dryer

#442- $785,880

2 Bedrooms/ 2.5 Bathroom Townhome

1047 SF

Located on Mariposa St.

Gas Stove

* Includes Fischer Paykel Refrigerator & GE Super Capacity Washer & Dryer

#492- $769,880

2 Bedrooms/ 2.5 Bathrooms

964 SF

Top Floor Corner Home

* Includes Fischer Paykel Refrigerator & GE Super Capacity Washer & Dryer

So what’s the big deal? You save a minimum of $25,000, these units were not offered for sale previously, include appliances, and unit #442 is in the South Building and not yet available to the general public.

So head on down to 444 De Haro, tell them sfnewsletter sent you and make yourself at home.


The Potrero [website]

[images taken from The Potrero Website]