August 20, 2007
Edgewater Apartments (355 Berry): An Overview And Pricing
The leasing office is open and renters (gasp!) have started moving in to the 198-unit Edgewater at 355 Berry (adjacent to Park Terrace in North Mission Bay). Units range from 520 to 1,330 square feet, are pet friendly (although “breed restrictions apply” and “pet rent” is an additional $50 per pet per month), and one parking space is available per apartment for an additional $300 per month.
Despite what some might have been led to believe, all 198 apartments in the building are market rate with the least expensive floor plan currently asking $1,975 per month (again, not including parking). The current breakdown of available units and "list" prices:
∙ Studios (520 to 600 square feet) from $1,975/month
∙ 1 bedroom/1 baths (535 to 1,055 square feet) from $2,165/month
∙ 1 bedroom/1.5 bath lofts (710 to 1,330 square feet) from $2,600/month
∙ 2 bedroom/2 baths (940 to 1,330 square feet) from $3,100/month
We’d be willing to bet there’s some room for negotiation on the rents (depending on the proposed term). And of course, we’d welcome any early reviews (or leasing office experiences) from our cadre of plugged-in people.
∙ SocketSite Reader’s Report: Living In North Mission Bay (For Real) [SocketSite]
∙ Edgewater San Francisco (355 Berry) [edgewatersf.com]
First Published: August 20, 2007 3:30 AM
Comments from "Plugged In" Readers
They offer $100 off parking for a year through some of the online apartment search websites right now.
I spent about 15 minutes on the phone with their leasing office-- the guy was very helpful answering all my specific questions but at the end of the conversation didn't even ask for my name of a phone number. The rent amounts he was quoting me were slightly lower than what is posted here (maybe by $50-$100).
Posted by: runner's high at August 20, 2007 6:08 AM
A leasing consultant indicated that there has been a lot of interest from owners who are currently trying to sell their properties. Also mentioned was the number of apartment seekers who need to look for a new place because their current landlord it trying to sell the property because the mortgage payments are starting to get higher than the rental income.
Saw some nice waterfront/view units here.
Posted by: remark at August 20, 2007 9:02 AM
i think these are relatively reasonable rent rates. these rent prices are still roughly half the mortgage if you were to buy these places.
I have a 1bdr in Pac heights for 1900 with parking that i will stay into until the condo prices come down at least 20% from this level.
Posted by: Sp-encer G at August 20, 2007 10:21 AM
Holy moly. $1975 for a studio, add in $300 for parking, you have a $2275/mo for a studio.. LEASED...wow
Posted by: stanky at August 20, 2007 11:03 AM
"Holy moly. $1975 for a studio, add in $300 for parking, you have a $2275/mo for a studio.. LEASED...wow"
Fret not. Find solace in knowing that in today's post-subprime-melt-down armageddon, renting is the empirically superior decision over owning. ;-)
Posted by: seehsee at August 20, 2007 12:39 PM
"Fret not. Find solace in knowing that in today's post-subprime-melt-down armageddon, renting is the empirically superior decision over owning. ;-)"
Historically as the for sale market softens, the rental market improves.
Soon the rental market will see an increase in demand and decrease in supply. I anticipate seeing at least a 7-12% increase in rental rates over the next 6 months or so.
Posted by: rcasms at August 20, 2007 2:25 PM
Rental rates are going to increase until housing prices begin to appreciate (when people jump back in to the market).
Posted by: AC at August 20, 2007 2:39 PM
hate to break it to you, because as a potential renter i hate to admit it to myself: the increase in demand & decrease in supply is happening as we speak...it's brutal out there right now, Berkeley included.
Posted by: holmes at August 20, 2007 3:13 PM
I looked at this place this past weekend and really like it - I'd love to live here. Though the rent is a bit more than I was planning on paying. This article states there's probably room for negotiation on the rent - has anyone had any luck with that? I didn't even realize you could haggle over rent prices - how would one go about doing that, and what would I expect as a reasonable outcome? 10%?
Anyone out there moved in this place yet? Looked pretty barren this weekend. If so, what do you think so far?
Posted by: joseph smoe at August 22, 2007 9:15 AM
These rates have changed. We signed a 13-month lease (while having exceptional credit and renters history) and are paying $2200 for a Jr. Studio apartment at 550 square feet. After utilities, parking and pet rent you're looking at paying something close to the amount of $3100 a month to live here.
It's pricey and definitely not worth it.
Posted by: And at April 17, 2011 11:57 AM