November 24, 2009

Recounting The Height Of The Infinity "Fire Sale" Flames

A plugged-in reader reports:

Lowest price sold 2/2 at Tower II is $535,000 for 1,187 sf. Mid 2009. All 1/1 are now gone and it is unlikely to find any 2/2 left at under 700k - at least not from the developer - in Tower II. Lowest 1/1 sold, I believe was below 400,000.

Assume that's without parking (or not). Don't necessarily assume it's the same sub $600,000 sale we plugged you into back in June.

UPDATE: Make that $510,000 for a two-bedroom (338 Spear #6J) and $350,000 for the lowest know one-bedroom (338 Spear #9G). And on a dollar per square foot basis, the lowest we know about for a two-bedroom was $466 per square foot for the 1,147 square foot 338 Spear Street #4E (closed in July 2009).

Do we hear under $535,000 or $466 per square for a two?

Infinity Tower I Sold Out, Tower II At 70 Percent, 85 Percent Overall [SocketSite]
Confidentially Speaking About The Infinity [SocketSite]

First Published: November 24, 2009 10:00 AM

Comments from "Plugged In" Readers

I'm willing to wager the unit inlcuded parking. ;)

Posted by: Paul Hwang at November 24, 2009 10:21 AM

i think i saw this unit with my realtor a while back. it did include parking. there are slightly more parking spots in the garage than units, i believe, so only a couple junior studios in the treetops did not come with parking. this is just what i was told.

this unit was on a low level in tower II, but faced a wall about 50 ft outside its windows. also fairly dark b/c of that.

Posted by: windowshopper at November 24, 2009 11:12 AM

In terms of the lowest priced 2/2, I think we have a winner at lower than $530,000. Who knows, further review may reveal one under $500k.

Price discovery reaveals volumes about the reasons behind the pace of sales. Not much glory in selling out if some units were at over a 50% discount. Have to feel really bad for Tower I buyers.

338 Spear Street - #6J - 2/2 - $510,000 - Sold 7/17/09. Zestimate was (slightly off at) $1,212,5000

Posted by: huh? at November 24, 2009 11:39 AM

Okay, so make that $510,000 for a two-bedroom and $350,000 for a one (338 Spear #9G). On a dollar per square foot basis, however, the lowest we know about for a two-bedroom is $466 per square foot for the 1,147 square foot 338 Spear Street #4E (closed in July 2009).

Do we hear under $535,000 or $466 per square for a two?

[Editor’s Note: It’s back to $535,000 as the lowest known price paid for a Tower II two-bedroom at The Infinity. Cheers.]

Posted by: SocketSite at November 24, 2009 2:21 PM

Although I represented the buyer for 4E, I can neither confirm or deny the price.

Posted by: Paul Hwang at November 24, 2009 2:34 PM

is the 6j unit a curve 2bd or a middle 2bd? which way does it face?

Posted by: Ivan T at November 24, 2009 3:01 PM

Ivan, 6J is a 1 bedroom curve unit. There were a few 1 bedroom low floor curve units.

Posted by: Anthony Randolph at November 24, 2009 3:13 PM

Ivan, sorry for the multiple post but here's a link to a rental. Same floorplan as 6J and it is a 1 bedroom 1 bath unit. huh? must have looked at the size and assumed it was a 2 bedroom. No view for this unit and I think there were only 5 of these available. Not sure what floor this rental is on but most 4-7??

http://sfbay.craigslist.org/sfc/apa/1479729198.html

Posted by: Anthony Randolph at November 24, 2009 3:28 PM

In Tower II, I believe there are seven curved 1/1 (3J - 9J) each approximately 1,021 sf in size. 3J has an outdoor patio. These have to be the most desirable 1/1 because of the floor plan and size. It includes an alcove and a hallway that leads into the expansive living area. As a matter of fact, it is almost identical to the model at the sales office. From 10th floor up, the unit combines with the adjacent H to become a 2/2 at 1,300+ sf.

Posted by: Outsider at November 25, 2009 12:01 AM

Although I can't talk about my client's purchase of D4E, I can say that on a price per square foot basis I did get another client a deal that was less than what D4E paid. AWESOME! Probably the best deal at Infinity on that basis. You will have to search for it on your own, due to fiduciary constraints.

Posted by: Paul Hwang at November 27, 2009 10:14 AM

if 9g and 4e are the lowest prices for tower two, they're probably the lowest 1 and 2 bedroom units in the whole complex.

Posted by: db at November 27, 2009 1:28 PM

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