2018 Condo Report South Beach Pablo Cela | Ranked #1 at The Harrison
© Skybox Realty Inc, 2019
Pablo Cela is Ranked #1 at The Harrison
Hello 2019, As we thawed out of January 2018, South Beach condo pricing and the pace of sales accelerated into the summer in congruence with equity markets. Year-over-year condo data (2017 vs 2018) was universally up. Emerging markets began to crumble over the summer. The domestic stock market followed by being unkind to investors in Q4, as all of the years gains were erased. Indeed, 2018 was the worst for stocks in 10 years! Despite stock market volatility, winter seasonality, rising interest rates, and negative sentiment, South Beach condo activity remained constant in Q4 (Q2 76 Sold at $1,205/ sf, Q3 76 Sold at $1,236/sf, Q4 76 Sold at $1,227/sf). Facebook, Salesforce, etc. leased millions of square feet of office space in the Transbay Transit neighborhood abutting South Beach. Upon Closer inspection of the positive aggregate data, a clear divergence can be seen between the higher and lower ends of the property spectrum. Properties priced $2M+ remained on the market for far longer than their lower priced counterparts. The Avery and Mira started selling and The Harrison continues to sell with roughly 70% units sold. Most of the developerowned inventory at The Harrison is on the top 1/3 of the building with remaining 1 bedrooms priced from $1.1M - $1.5M & 2 bedrooms priced from $1.8M - $3.7M and 3 bedrooms from $4M - $8M. There is significant buyer demand for 1 bedroom resale units on the lower 1/3 of the building. Most of my friends in finance view all asset classes as fully valued and are predicting some unpleasantries for 2019. Some have even moved to Texas for the favorable tax climate. I would disagree with them, as I still see a super heated hyper local economy with South Beach being the epicenter. Unemployment in the Bay Area is at record lows, income is at record highs and people need a place to live. Of course, the data is constantly changing, but I believe the population will continue to grow and income will continue to rise in The Bay Area, specifically in San Francisco. Looking forward to being at your service in 2019! Best Regards, Pablo Cela | Ranked #1 at The Harrison This document has been prepared by Skybox Realty for advertising and general information only. Skybox Realty makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Skybox Realty excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from.
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Skybox Realty 2018 Annual Report
South Beach 2018 Snapshot
# of Transactions
Average Sales Price
282
$1,366,970
25% YOY Avg $/SF
11% YOY
$1,220 6.6% YOY
Average Days on the Market
39
19% YOY
Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com
All Data From SFARMLS
Pablo Cela is Ranked #1 at The Harrison
Table of Contents
The Harrison Resales
6-9
One Rincon Hill
10 - 13
Portside
14 - 17
Baycrest
18 - 21
Bridgeview
22 - 25
Q4 Sales
26 - 27
The Harrison Developer Sales
28 - 29
New Construction
30 - 33
Who You Work With Matters
34 - 35 5
Skybox Realty 2018 Annual Report
The Harrison Resales
# Sold
401 Harrison
7
Average $/SF
Average Sales Price
Average DOM
$1,252 $1,334,143 76
First Resales
First Resales
First Resales
First Resales
Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com
All Data From SFARMLS
Pablo Cela is Ranked #1 at The Harrison
* Only showing resales. For developer sales go to page 29.
38E | $2,550,000 (2BR) $----/sf
28E | $2,558,000 (2BR) $2085/sf
24F | $1,379,000 (1BR) $1661/sf
24B | $1,725,000 (2BR) $1316/sf
19F | $1,230,000 (1BR) $1482/sf
12A | $1,030,000 (1BR) $1226/sf 9B | $1,595,000 (2BR) $1216/sf 8F | $1,549,000 (2BR) $1249/sf 6G | $979,000 (1BR) $1222/sf 4A | $1,005,000 (1BR) $914/sf
SOLD
4D | $820,000 (1BR) $1353/sf
ACTIVE
I N C O NT R A C T
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Skybox Realty 2018 Annual Report
The Harrison Resales AVG $1,288/SF
Q4
AVG $1,207/SF
Q3
AVG $1,316/SF
Q2 Q1
No Sales in Q1
2018 Buyer Demographic
Listings Days on Market
2018 Sale Price
C A S H B U YE R
D I D N ’T S ELL
UNDE R L IST PRICE
L O A N B U YE R
S O LD UN D ER 45
AT L IST
U N KN O W N
S O LD O V ER 45 D A YS
OVE R L IST PRICE
Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com
All Data From SFARMLS
Pablo Cela is Ranked #1 at The Harrison
2018 $/SF Distribution
$ 6 7 8 / SF
$869/SF
S TA N D A RD D EV I A TI O N = $191.42
$1061/SF
$1252/S F
2018 Average Days on the Market
$1443/S F
$1635/S F
THE HA RRI S O N
$1826/S F
S O UTH B EA CH
150 125 100 75 50 25
Q1
© Skybox Realty Inc, 2019
Q2
Q3
Q4
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Skybox Realty 2018 Annual Report
One Rincon Hill
# Sold
19 27% YOY
Average $/SF
425 1st, 489 Harrison
Average Sales Price
Average DOM
$1,416 $1,547,842 66 .28% YOY
6.7% YOY
Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com
13% YOY
All Data From SFARMLS
Pablo Cela is Ranked #1 at The Harrison
6001 | $3,800,000 (2BR) $2318/sf
5204 | $3,700,000 (3BR) $1900/sf 4908 | $1,280,000 (1BR) $1695/sf
4905 | $995,000 (1BR) $1401/sf
4504 | $865,000 (1BR) $1430/sf
4603 | $1,850,000 (2BR) $1448/sf 4506 | $1,700,000 (2BR) $1373/sf 4404 | $830,000 (1BR) $1372/sf 4206 | $1,899,000 (2BR) $1534/sf 4101 | $1,245,000 (1BR) $1487/sf
3905 | $890,000 (1BR) $1254/sf
3802 | $2,005,000 (2BR) $1532/sf
3102 | $2,300,000 (2BR) $1587/sf 2902 | $2,645,000 (3BR) $1342/sf 2705 | $865,000 (1BR) $1218/sf 2504 | $860,000 (1BR) $1421/sf 2302 | $1,760,000 (2BR) $1345/sf
1305 | $840,000 (1BR) $1183/sf 1106 | $1,499,000 (2BR) $1211/sf
805 | $860,000 (1BR) $1211/sf 306 | $2,030,000 (2BR) $1177/sf
SOLD
ACTIVE
I N C O NT R A C T
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Skybox Realty 2018 Annual Report
One Rincon Hill AVG $1,496/SF
Q4
AVG $1,263/SF
Q3
AVG $1,449/SF
Q2
AVG $1,412/SF
Q1
2018 Buyer Demographic
Listings Days on Market
2018 Sale Price
C A S H B U YE R
D I D N ’T S ELL
UNDE R L IST PRICE
L O A N B U YE R
S O LD UN D ER 45
AT L IST
U N KN O W N
S O LD O V ER 45 D A YS
OVE R L IST PRICE
Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com
All Data From SFARMLS
Pablo Cela is Ranked #1 at The Harrison
2018 $/SF Distribution
8 6 4 / SF
$1048/SF
S TA N D A RD D EV I A TI O N = $183.91
$1232/SF
$1416/S F
2018 Average Days on the Market
$1600/S F
$1784/S F
O N E RI N CO N HI LL
$1968/S F
S O UTH B EA CH
80 70 60 50 40 30
Q1
© Skybox Realty Inc, 2019
Q2
Q3
Q4
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Skybox Realty 2018 Annual Report
Portside
# Sold
12 ----% YOY
Average $/SF
403 Main, 38 Bryant
Average Sales Price
Average DOM
$1,203 $1,046,315 47 9.1% YOY
4% YOY
Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com
4.4% YOY
All Data From SFARMLS
Pablo Cela is Ranked #1 at The Harrison
803 | $1,650,000 (3BR) $1213/sf 720 | $1,440,000 (2BR) $1330/sf 605 | $580,000 (1BR) $1176/sf
703 | $1,699,900 (3BR) $1250/sf
410 | $981,950 (1BR) $1044/sf 316 | $950,000 (1BR) $1102/sf
501 | $1,318,888 (2BR) $1243/sf 411 | $1,385,000 (2BR) $1157/sf 308 | $710,000 (1BR) $1317/sf
112 | $1,150,000 (2BR) $1051/sf
114 | $675,000 (1BR) $1427/sf
806 | $750,000 (0BR) $1289/sf 709 | $988,888 (1BR) $1111/sf
SOLD
ACTIVE
I N C O NT R A C T
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Skybox Realty 2018 Annual Report
Portside AVG $1,154/SF
Q4
AVG $1,270/SF
Q3
AVG $1,128/SF
Q2
AVG $1,266/SF
Q1
2018 Buyer Demographic
Listings Days on Market
2018 Sale Price
C A S H B U YE R
D I D N ’T S ELL
UNDE R L IST PRICE
L O A N B U YE R
S O LD UN D ER 45
AT L IST
U N KN O W N
S O LD O V ER 45 D A YS
OVE R L IST PRICE
Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com
All Data From SFARMLS
Pablo Cela is Ranked #1 at The Harrison
2018 $/SF Distribution
$ 8 4 3 / SF
$963/SF
S TA N D A RD D EV I A TI O N = $119.92
$1083/SF
$1203/S F
2018 Average Days on the Market
$1323/S F
$1443/S F
P O RTS I D E
$1563/S F
S O UTH B EA CH
70 60 50 40 30 20
Q1
© Skybox Realty Inc, 2019
Q2
Q3
Q4
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Skybox Realty 2018 Annual Report
Baycrest
# Sold
16 14% YOY
Average $/SF
201 Harrison
Average Sales Price
$1,242 $729,688 8.5% YOY
5.2% YOY
Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com
Average DOM
27
56% YOY
All Data From SFARMLS
Pablo Cela is Ranked #1 at The Harrison
1129 | $661,000 (0BR) $1530/sf
801 | $560,000 (0BR) $1296/sf 731 | $840,000 (2BR) $1141/sf 613 | $915,000 (2BR) $1243/sf 502 | $565,000 (0BR) $1308/sf 412 | $549,000 (0BR) $1286/sf
720 | $885,000 (2BR) $1110/sf
910 | $900,000 (1BR) $1362/sf 803 | $1,001,000 (2BR) $972/sf 705 | $765,000 (1BR) $1406/sf 608 | $625,000 (1BR) $1263/sf 504 | $819,000 (1BR) $1030/sf 510 | $875,000 (2BR) $1098/sf 318 | $565,000 (0BR) $1345/sf 108| $465,000 (0BR) $1340/sf
113 | $685,000 (1BR) $1041/sf
SOLD
ACTIVE
I N C O NT R A C T
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Skybox Realty 2018 Annual Report
Baycrest AVG $1,280/SF
Q4
AVG $1,212/SF
Q3
AVG $1,255/SF
Q2
AVG $1,183/SF
Q1
2018 Buyer Demographic
Listings Days on Market
2018 Sale Price
C A S H B U YE R
D I D N ’T S ELL
UNDE R L IST PRICE
L O A N B U YE R
S O LD UN D ER 45
AT L IST
U N KN O W N
S O LD O V ER 45 D A YS
OVE R L IST PRICE
Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com
All Data From SFARMLS
Pablo Cela is Ranked #1 at The Harrison
2018 $/SF Distribution
$ 7 6 7 / SF
$926/SF
S TA N D A RD D EV I A TI O N = $158.23
$1084/SF
$1242/S F
2018 Average Days on the Market
$1400/S F
$1558/S F
B A YCRES T
$1717/S F
S O UTH B EA CH
70 60 50 40 30 20
Q1
© Skybox Realty Inc, 2019
Q2
Q3
Q4
21
Skybox Realty 2018 Annual Report
Bridgeview
# Sold
10 67% YOY
Average $/SF
400 Beale
Average Sales Price
Average DOM
$1,173 $1,022,222 15 12% YOY
16% YOY
Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com
29% YOY
All Data From SFARMLS
Pablo Cela is Ranked #1 at The Harrison
2403 | $1,650,000 (2BR) $1536/sf
1412 | $1,155,000 (2BR) $1074/sf 1301 | $1,250,000 (2BR) $1022/sf 1102 | $870,000 (1BR) $1289/sf 1013 | $985,000 (1BR) $1153/sf
1210 | $780,000 (1BR) $1166/sf 1109 | $855,000 (1BR) $1179/sf 1008 | $740,000 (1BR) $1066/sf
701 | $401,510 (2BR) bmr
711 | $1,075,000 (2BR) $1086/sf 509 | $825,000 (1BR) $1138/sf 305 | $383,339 (1BR) bmr
SOLD
ACTIVE
I N C O NT R A C T
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Skybox Realty 2018 Annual Report
Bridgeview AVG $1,102/SF
Q4
AVG $1,273/SF
Q3
AVG $1,087/SF
Q2 Q1
No Sales in Q1
2018 Buyer Demographic
Listings Days on Market
2018 Sale Price
C A S H B U YE R
D I D N ’T S ELL
UNDE R L IST PRICE
L O A N B U YE R
S O LD UN D ER 45
AT L IST
U N KN O W N
S O LD O V ER 45 D A YS
OVE R L IST PRICE
Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com
All Data From SFARMLS
Pablo Cela is Ranked #1 at The Harrison
2018 $/SF Distribution
$ 7 0 1 / SF
$858/SF
S TA N D A RD D EV I A TI O N = $157.41
$1016/SF
$1173/S F
2018 Average Days on the Market
$1300/S F
$1488/S F
B RI D GEV I EW
$1645/S F
S O UTH B EA CH
70 60 50 40 30 20
Q1
© Skybox Realty Inc, 2019
Q2
Q3
Q4
25
Skybox Realty 2018 Annual Report
2018 Q4 Sales * Only showing sold homes in buildings featured in this book. Does not include new construction.
Address
BR / BA
SQFT
Sale Price
$/SF
% Sale/List
400 Beale 305
1/1
827
$383,339
bmr
100.00
201 Harrison 801
0/1
432
$560,000
$1,296.30
106.67
201 Harrison 318
0/1
420
$565,000
$1,345.24
107.62
403 Main 308N
1/1
539
$710,000
$1,317.25
97.93
400 Beale 1008
1/1
694
$740,000
$1,066.28
98.80
201 Harrison 705
1/1
544
$765,000
$1,406.25
110.07
201 Harrison 504
1 /1
795
$819,000
$1,030.19
100.00
401 Harrison 4D
1/1
606
$820,000
$1,353.14
98.91
400 Beale 509
1/1
725
$825,000
$1,137.93
103.25
201 Harrison 731
2/2
----
$840,000
----
107.01
425 1st 4504
1/1
605
$865,000
$1,429.75
98.86
201 Harrison 910
1/1
661
$900,000
$1,361.57
112.64
201 Harrison 613
2/2
736
$915,000
$1,243.21
114.52
Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com
All Data From SFARMLS
Pablo Cela is Ranked #1 at The Harrison
Address
BR / BA
SQFT
Sale Price
$/SF
% Sale/List
403 Main 316N
1/1
862
$950,000
$1,102.09
105.79
403 Main 410N
1/1
941
$958,000
$1,018.07
96.28
401 Harrison 6G
1/1
801
$979,000
$1,222.22
100.00
425 1st 4101
1/1
837
$1,245,000
$1,487.46
100.00
425 1st 4908
1/1
755
$1,280,000
$1,695.36
97.34
425 1st 4506
2/2
1,238
$1,700,000
$1,373.18
97.14
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Skybox Realty 2018 Annual Report
The Harrison Developer Sales
Interior Design
# of Condos
Ken Fulk 298
# in Contract
205+
Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com
401 Harrison
Monthly Absorption
6.3
All Data From SFARMLS
Pablo Cela is Ranked #1 at The Harrison
* Only showing sold homes in 2018 Q3 & Q4. Contact us for the full list of sales in 2018. 49A | $3,700,000 (2BR) $2245/sf 48B | $8,800,000 (3BR) $2738/sf 45A | $3,150,000 (2BR) $1911/sf
45B | $7,300,000 (3BR) $2271/sf 42B | $7,300,000 (3BR) $2271/sf 41C | $4,550,000 (3BR) $2345/sf 38B | $2,100,000 (2BR) $1602/sf
36C | $2,375,000 (2BR) $1780/sf
36D | $2,550,000 (2BR) $1966/sf
31A | $1,157,000 (1BR) $1377/sf
31E | $2,591,000 (2BR) $2088/sf 30C | $2,235,000 (2BR) $1675/sf
28B | $1,885,000 (2BR) $1438/sf
28A | $1,127,000 (1BR) $1342/sf 26B | $1,833,000 (2BR) $1398/sf
24G | $1,081,000 (1BR) $1424/sf
24A | $1,101,000 (1BR) $1311/sf 22B | $1,761,000 (2BR) $1343/sf 21C | $1,850,000 (2BR) $1387/sf 20D | $1,875,000 (2BR) $1446/sf
19C | $1,815,000 (2BR) $1361/sf 16C | $1,690,000 (2BR) $1314/sf
SOLD
16A | $1,075,000 (1BR) $1280/sf
ACTIVE
I N C O NT R A C T
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Skybox Realty 2018 Annual Report
181 Fremont
Developer
181 Fremont
# of Condos
Jay Paul 67
# in Contract
34+
Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com
Monthly Absorption
1.1
All Data From SFARMLS
Pablo Cela is Ranked #1 at The Harrison
69B | $15,000,000 (2BR) $4,689/sf
64C | $3,405,000 (2BR) $2702/sf
59A | $5,235,000 (2BR) $2764/sf
SOLD
ACTIVE
I N C O NT R A C T
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Skybox Realty 2018 Annual Report
Mira
Architect
280 Spear
# of Condos
Studio 392 Gang
# in Contract
30+
Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com
Monthly Absorption
10
All Data From SFARMLS
Pablo Cela is Ranked #1 at The Harrison
The Avery
Architect
OMA
488 Folsom
# of Condos
118
# in Contract
10+
Monthly Absorption
1.4
33
Skybox Realty 2018 Annual Report
Who You Work With Matters Pablo is #1 at The Harrison # of Harrison Developer Sales
27+
Average Sales Price
$1,419,108
Total Sales Volume
$150,000,000+ Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com
All Data From SFARMLS
Pablo Cela is Ranked #1 at The Harrison
“
Pablo consistently exceeded expectations and deserves more stars than we can give. - Chris M
South Beach Average Sales Price Skybox Realty
2018
“
Other Brokers
Paul Hwang
2017
Other Brokers $700K
$800K
$900K
$1M
$1.1M
$1.2M
$1.3M
$1.4M
$1.5M
$1.6M
$1.7M
South Beach Average Price per Square Foot Skybox Realty
2018
Other Brokers
Paul Hwang 2017
Other Brokers $500
$600
$700
© Skybox Realty Inc, 2019
$800
$900
$1000
$1100
$1200
$1300
$1400
$1500
35
© Skybox Realty Inc, 2019
Pablo Cela Ranked #1 at The Harrison
415.216.8746 | dre 01805459 pablo@skyboxrealty.com