May 1, 2006
2,700 New Condos On Sale Soon
Thank a change in state legislation (allowing for 3% non-refundable pre-construction deposits) for the boom in new development sales centers slated to open this spring/summer. One such sales center, the 9,000-square-foot, $2.5 million sales center for One Rincon Hill, will feature “a fully appointed, two-bedroom model apartments [sic] with lightboxes simulating views both night and day.”
In total, sales centers representing at least 2,700 new condos should open within the next six months. Included in the mix:
170 Off Third - 198 condos
255 Berry (open) – 99 condos
The Arterra – 268 condos
Broderick Place (open) – 70 units
The Hayes – 128 condos
The Infinity - 650 condos
One Rincon Hill – 695 condos
The Palm (open) – 300 condos
Park Terrace – 110 condos
SoMa Grand – 246 condos
Expect a market in pre-construction speculation to emerge (something to keep in mind when a development touts “Half Sold Out!”).
∙ Condo projects selling first, building later [bizjournals]
∙ San Francisco Perspective: Condominium Developments [SocketSite]
∙ QuickLinks: Building Up [SocketSite]
First Published: May 1, 2006 10:36 AM
Comments from "Plugged In" Readers
You can add 188 King Street as another South Beach property opening up this summer. They just sent out an email alerting prospects that tours will begin on May 5th!
Posted by: Damion at May 2, 2006 12:12 PM
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