From a most excellent tipster:

[One Rincon Hill] had a quiet opening last night that was attended by 400 ecstatic neighbors, realtors and their friends. They opened up the entire inventory (400?) [376 in the South Tower] for the week of reservations. I estimate that they took reservation deposits for 50-75 condos, maybe more. It was a mob scene. One bedrooms began in the 600s and 2BRs in the 900s. Penthouses were $2-$2.3 and a large number of them were reserved. The wait list to see a sales person was over four hours long, but most people were happy to wait and were excited when they got to purchase. They stayed open long past midnight. [Thanks Gregg!]

Now who’s got pictures?
1,091 New Units Hit The Market [SocketSite]

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Comments from “Plugged-In” Readers

  1. Posted by Jayson Aldrich

    It’s amazing what the sleazy realtors will do to keep up the hype in an otherwise dying market.
    Anyone who falls for this crap so late in the game is going to get burned, and burned badly, and the realtors who contribute to your financial hardships will want nothing to do with you when the market turns, unless you want to sell your foreclosure with them!
    They’re all sleazy! Beware!!!!!! Do your own research….do NOT believe anything a real estate agent says.

  2. Posted by Up

    It’s pretty obvious guys that the market is still very strong. Especially in the North End of San Francisco. There are so many examples this year of properties going way over asking, and 10-15% higher than last year, it isn’t even funny, and frustrating for buyers like me.
    Benny

  3. Posted by Damion

    The Infinity! Don’t forget that the massive Infinity is opening up its sales this Saturday.

  4. Posted by Frederick

    It seams the most dramatic residential building ever to be constructed in San Francisco, including 2006 Washington, 611 Washington, 4 Seasons & St Regis, all of which broke sales records when they were first offered for sale (2006 Washington – 1925; 611 Washington -1984; 4 Seasons – 2000 & St Regis – 2005)have a challenger. 1 Rincon Hill had a smashing start. The question does not seem to be “What Bubble”, but “How can I place an Offer to Buy?”
    How many of these condominiums are already in contract?
    Is it the views? Or the future of Rincon-TransBay that has excited the interested buyers?
    Check it out.
    Fred

  5. Posted by Jim

    I was at One Rincon on Thursday night 6/15 with a friend that reserved a one bedroom. Our sales person informed us that they had about 220 reservations (Tower one has 375) thus far…and the official opening was not until the next day. I think the reason for the response is the unique location and the pricing was surpisingly reasonable, compared to the existing supply in the market. There are great ammenities (pool, fitness center, rec room) as well as high quality finishings and all the appliances are included too (Bosch, Sub Zero Fridge and a washer/dryer).

  6. Posted by John

    Wow, kudos to Jayson Aldrich for the 30-month-old observation!! Right on target . . .

  7. Posted by jessep

    I bet the “mob scene” is in reverse now sadly.

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