September 26, 2006

235 Berry Street Update: Under 50% Sold?

235 Berry

Back in February, it was reported that 60 interested parties participated in a “mini-lottery” for the right to purchase the first release of 20 units at 235 Berry Street. A couple of months later, a second release of around 18 units was reported to have sold out as well. And then in June, six units were released under relatively demanding terms (“arrive promptly at 10:00 am . . . with a copy of your pre-qualification letter and evidence of source of funds for the balance of your purchase”).

It’s now three months later and we can’t help but notice that at least four of the six units released in June are still available (#104, #105, #110, #112). We're guessing that scheduled releases have since fallen by the wayside, and we've been told that they’re shooting for closings and occupancy by the end of the year. Pricing on 14 of the remaining condos:

∙ 235 Berry #104 (2/2.5) 1,255 sqft - $1,027,900
∙ 235 Berry #105 (2/2.5) 1,255 sqft - $1,024,900
∙ 235 Berry #112 (2/2.5) 1,255 sqft - $1,021,900
∙ 235 Berry #110 (3/3) 1,500 sqft - $1,315,900
∙ 235 Berry #501 (2/2) 1,070 sqft - $807,900
∙ 235 Berry #503 (2/2) 1,070 sqft - $809,900
∙ 235 Berry #505 (2/2) 1,235 sqft - $935,900
∙ 235 Berry #413 (2/2) 1,235 sqft - $939,900
∙ 235 Berry #515 (2/2) 1,235 sqft - $945,900
∙ 235 Berry #507 (2/2) 1,235 sqft - $955,900
∙ 235 Berry #513 (2/2) 1,235 sqft - $955,900
∙ 235 Berry #411 (2/2) 1,063 sqft - $957,900
∙ 235 Berry #407 (2/2) 1,235 sqft - $958,900
∙ 235 Berry #508 (2/2) 1.370 sqft - $995,900

We also can’t help but notice that the four units that failed to sell in June are now listed at prices that are, on an average, 2.5% higher than in June. (Perhaps we’re reading into it, but so much for the seller paying for the buyer’s broker commission incentives.)

235 Berry Street Sales Release (6/11/06) [SocketSite]

First Published: September 26, 2006 12:15 AM

Comments from "Plugged In" Readers


The price did increase for the four units that did not sell in June. The increase was due to additional upgrades (sub-zero / hardwood ...etc. ) that developers put into the unit.

As far as I know, Signature has not accepted any low bids nor have they decrease prices for any of the units.

Posted by: Anonymous at September 26, 2006 4:51 AM

Anyone seen the floor plans for these units? Several of the units have long corridors that eat up square footage and small windows in the bedrooms overlooking the creek. I though the plans were really poor considering the buildng was designed by the architectural firm Leddy Maytum Stacy. Maybe the poor layouts are the reason the developer does not have them show on their website!

Posted by: anon at September 26, 2006 1:12 PM

I think 235 is underpriced. This area is the new marina. I have bought one unit and hope to buy one at Park Terrace as well. This whole area is undervalued. 30% of buyers for high end SF condos are international buys with strong currencies. Price as surely to rise. Signature's 2.5% increase is a steal!

Posted by: max at July 9, 2007 11:09 PM

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