2019 Q2 Condo Report South Beach & Yerba Buena Pablo Cela | Ranked #1 at The Harrison
Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com
Dear Neighbors, At the end of Q2 2019, year over year sales statistics for South Beach were positive; # of transactions +9% (83), average $/sf +5% ($1,266/sf), & days on the market reduced 6% (42 days). Yerba Buena sales increased +32% (25) year over year as Millennium Tower has begun to sell again with a solution to the foundation problem in place, albeit at value pricing. The Infinity’s gravitational influence on South Beach real estate has been shifted towards newer construction such as Lumina and Mira. One Rincon Hill sales are consistent, although experiencing high variance in pricing. Rents remain strong. Interest rates are significantly lower than they were a year ago, and are anticipated to continue to be historically low through the remainder of the year. The foreign national all cash buyer (ie China money) has dropped to normal levels. The majority of the standard 6 month employee lock up periods for the successfull 2019 Bay Area IPOs should end by Q1 2020. Their effect on the market will be positive. A new Starbucks opened in South Beach, the Transbay Terminal Park has re-opened, and open house traffic has increased. We anticipate resale pricing to be flat for the remainder of the year as new construction inventory is absorbed. 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.
Š Skybox Realty Inc, 2019
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Skybox Realty 2019 Q2 Report
All Data From SFARMLS
Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com
Table of Contents South Beach & Yerba Buena Market Snapshot The Infinity
6-7 8 - 11
Lumina Resales
12 - 15
The Harrison Resales
16 - 19
One Rincon Hill
20 - 23
The Metropolitan
24 - 27
Watermark
28 - 31
Millennium
32 - 35
One Hawthorne
36 - 39
2019 Q2 Sales
40 - 43
New Construction
44 - 45
Who You Work With Matters
46 - 47
Š Skybox Realty Inc, 2019
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Skybox Realty 2019 Q2 Report
South Beach 2019 Q2 # of Transactions
83
9.2% YOY /
54% QOQ
Average Sales Price
$1,393,590 .45% YOY /
5.6% QOQ
Average Price per Square Foot
$1,266 5.1% YOY /
9.6% QOQ
Average Days on the Market
42
---- YOY /
5.5% QOQ All Data From SFARMLS
Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com
Yerba Buena 2019 Q2 # of Transactions
25
32% YOY /
47% QOQ
Average Sales Price
$1,193,339 11% YOY /
4.2% QOQ
Average Price per Square Foot
$1,192 .5% YOY /
6.5% QOQ
Average Days on the Market
51
8.5% YOY /
16% QOQ
© Skybox Realty Inc, 2019
7
The Infinity
# of Transactions
4
60% YOY /
33% QOQ
Average Sales Price
$1,727,000 30% YOY /
30% QOQ
Average $/SF
THE I N F I N I TY
AVG $1,479/SF
Q2 Q1 Q4 Q3
AVG $1,306/SF AVG $1,354/SF AVG $1,376/SF All Data From SFARMLS
301 / 333 Main, 318 / 338 Spear
Average $/SF
$1,479 18% YOY /
13% QOQ
Average Days on Market
34
45% YOY /
Buyer Demographic
2.9% QOQ
THE I N F I N I TY
CA S H B UYER LO A N B UYER UN K N O WN
2 0 1 9 Q1 © Skybox Realty Inc, 2019
2019 Q 2
9
The Infinity D42A | $4,200,000 (2BR) $3312/sf
D33F | $2,395,000 (2BR) $1514/sf
D21G | $1,179,000 (1BR) $1461/sf
A7A | $2,695,000 (3BR) $1685/sf A6G | $729,000 (1BR) $1355/sf
All Data From SFARMLS
SO L D
ACTI V E
IN CONTRACT
B33B | $5,500,000 (3BR) $3374/sf B31A | $1,150,000 (2BR) $1538/sf B29A | $2,099,000 (2BR) $1655/sf B28A | $1,999,000 (2BR) $1577/sf B26G | $1,115,000 (1BR) $1382/sf
B20D | $1,788,000 (2BR) $1499/sf
C6H | $775,000 (0BR) $1364/sf
© Skybox Realty Inc, 2019
11
Lumina
# of Transactions
9
125% YOY /
125% QOQ
Average Sales Price
$1,760,333 6.1% YOY /
24% QOQ
Average $/SF
LUMI N A
AVG $1,504/SF
Q2 Q1
AVG $1,314/SF AVG $1,543/SF
Q4
AVG $1,256/SF
Q3
AVG $1,473/SF AVG $1,256/SF All Data From SFARMLS
318 / 338 Main, 333 Beale, 201 Folsom
Average $/SF
$1,504 7.6% YOY /
14% QOQ
Average Days on Market
60
56% YOY /
Buyer Demographic
20% QOQ
LUMI N A
CA S H B UYER LO A N B UYER UN K N O WN
2 0 1 9 Q1 © Skybox Realty Inc, 2019
2019 Q 2
13
Lumina
D35C | $3,100,000 (2BR) $2079/sf D33D | $1,450,000 (1BR) $1506/sf
D29A | $2,999,000 (2BR) $1908/sf D26D | $1,338,000 (1BR) $1372/sf D26E | $3,795,000 (3BR) $2017/sf
D22E | $2,488,000 (2BR) $1800/sf
D17E | $2,400,000 (2BR) $1713/sf
D14B | $1,850,000 (2BR) $1570/sf
D9H | $1,175,000 (1BR) $1376/sf
D9A | $1,925,000 (2BR) $1396/sf C8H | $1,525,000 (1BR) $1548/sf
D6H | $1,068,000 (1BR) $1251/sf C4C | $1,225,000 (1BR) $1337/sf C3F | $1,069,000 (1BR) $1162/sf
All Data From SFARMLS
SO L D
ACTI V E
IN CONTRACT
B41A | $11,495,000 (3BR) $2016/sf
B31C | $2,360,000 (2BR) $1579/sf
B27B | $1,999,000 (2BR) $1180/sf B25A | $2,488,000 (2BR) $1819/sf
B10G | $2,090,000 (2BR) $1492/sf B10C | $2,150,000 (2BR) $1532/sf A8I | $1,479,900 (1BR) $1578/sf
A5J | $1,225,000 (1BR) $1389/sf B3A | $1,780,000 (2BR) $1301/sf
© Skybox Realty Inc, 2019
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The Harrison Resales
# of Transactions
Average Sales Price
---- YOY /
---- YOY /
3
25% QOQ
Average $/SF
15% QOQ
THE HA RRI S O N
AVG $1,302/SF
Q2
AVG $1,439/SF
Q1 Q4
$1,643,333
AVG $1,119/SF
Q3
All Data From SFARMLS
401 Harrison
Average $/SF
Average Days on Market
---- YOY /
---- YOY /
$1,302 9.6% QOQ
57
Buyer Demographic
119% QOQ
THE HA RRI S O N
CA S H B UYER LO A N B UYER UN K N O WN
2 0 1 9 Q1 © Skybox Realty Inc, 2019
2019 Q 2
17
The Harrison Resales
9E | $988,000 (1BR) $1397/sf
All Data From SFARMLS
SO L D
ACTI V E
IN CONTRACT
21B | $1,875,000 (2BR) $1430/sf
14F | $1,850,000 (2BR) $1492/sf 11D | $998,000 (1BR) $1644/sf 9B | $1,585,000 (2BR) $1208/sf 8F | $1,495,000 (2BR) $1206/sf
© Skybox Realty Inc, 2019
19
One Rincon Hill
# of Transactions
7
40% YOY /
250% QOQ
Average Sales Price
$1,779,429 13% YOY /
67% QOQ
Average $/SF
O N E RI N CO N HI LL
AVG $1,507/SF
Q2 Q1
AVG $1,354/SF AVG $1,496/SF
Q4 Q3
AVG $1,263/SF AVG $1,256/SF All Data From SFARMLS
425 1st, 489 Harrison
Average $/SF
$1,507 4.1% YOY /
11% QOQ
Average Days on Market
73
66% YOY /
Buyer Demographic
128% QOQ
O N E RI N CO N HI LL
CA S H B UYER LO A N B UYER UN K N O WN
2 0 1 9 Q1 © Skybox Realty Inc, 2019
2019 Q 2
21
One Rincon Hill
4407 | $1,308,000 (1BR) $1597/sf
507 | $1,975,000 (2BR) $1310/sf 305 | $1,750,000 (2BR) $1129/sf
All Data From SFARMLS
SO L D
ACTI V E
IN CONTRACT
6001 | $3,600,000 (2BR) $2196/sf 5903 | $3,285,000 (3BR) $1959/sf 5802 | $3,395,000 (3BR) $2245/sf 5704 | $3,899,000 (2BR) $2487/sf 5406 | $2,888,000 (2BR) $2278/sf 5101 | $2,350,000 (2BR) $2255/sf 4803 | $2,195,000 (2BR) $1718/sf 4706 | $2,198,000 (2BR) $1775/sf 4403 | $1,998,000 (2BR) $1516/sf
3905 | $950,000 (1BR) $1338/sf
3303 | $1,850,000 (2BR) $1445/sf
2508 | $1,000,000 (1BR) $1325/sf 1907 | $1,108,000 (1BR) $1353/sf
1506 | $1,695,000 (2BR) $1369/sf
804 | $819,000 (1BR) $1354/sf
© Skybox Realty Inc, 2019
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The Metropolitan
# of Transactions
3
---- YOY / ---- QOQ
Average $/SF Q2 Q1 Q4 Q3
Average Sales Price
$1,456,000 37% YOY /
.79% QOQ
THE METRO P O LI TA N
AVG $1,290/SF AVG $1,321/SF AVG $1,374/SF AVG $1,285/SF All Data From SFARMLS
333 / 355 1st
Average $/SF
$1,290 5.4% YOY /
2.4% QOQ
Average Days on Market
28
115% YOY /
Buyer Demographic
154% QOQ
THE METRO P O LI TA N
CA S H B UYER LO A N B UYER UN K N O WN
2 0 1 9 Q1 © Skybox Realty Inc, 2019
2019 Q 2
25
The Metropolitan
N402 | $868,000 (1BR) $1,217/sf N203 | $850,000 (1BR) $1,235/sf
All Data From SFARMLS
SO L D
ACTI V E
IN CONTRACT
S2603 | $2,195,000 (2BR) $1483/sf S2302 | $2,093,000 (2BR) $1413/sf
S1607 | $1,425,000 (2BR) $1222/sf S1502 | $1,799,000 (2BR) $1543/sf
S904 | $402,047 (2BR) bmr
© Skybox Realty Inc, 2019
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Watermark
# of Transactions
3
200% YOY /
100% QOQ
Average Sales Price
$1,113,333 55% YOY /
100% QOQ
Average $/SF Q2
WA TERMA RK
AVG $1,137/SF
Q1 Q4 Q3
AVG $1,166/SF AVG $1,256/SF
AVG $1,439/SF All Data From SFARMLS
501 Beale
Average $/SF
$1,137 38% YOY /
100% QOQ
Average Days on Market
35
25% YOY /
Buyer Demographic
WA TERMA RK
CA S H B UYER
No Sa les in 2 0 1 9 Q1
2 0 1 9 Q1 © Skybox Realty Inc, 2019
100% QOQ
LO A N B UYER UN K N O WN
2019 Q 2
29
Watermark
6B | $1,410,000 (2BR) $1384sf
All Data From SFARMLS
SO L D
ACTI V E
IN CONTRACT
21F | $1,849,000 (2BR) $1639/sf
18F | $1,749,000 (2BR) $1551/sf
11A | $1,695,000 (2BR) $1461/sf 10B | $1,595,000 (2BR) $1565/sf
6G | $1,250,000 (2BR) $1205/sf
1D | $680,000 (1BR) $821/sf
© Skybox Realty Inc, 2019
31
Millennium Tower
# of Transactions
2
100% YOY / ---- QOQ
Average Sales Price
$1,615,000 7.7% YOY /
58% QOQ
Average $/SF
MI LLEN N I UM TO WER
Q2
AVG $1,108/SF
Q1 Q4
AVG $831/SF AVG $969/SF
Q3
All Data From SFARMLS
301 Mission
Average $/SF
$1,108 21% YOY /
33% QOQ
Average Days on Market
99
35% YOY /
Buyer Demographic
45% QOQ
MI LLEN N I UM TO WER
CA S H B UYER LO A N B UYER UN K N O WN
2 0 1 9 Q1 © Skybox Realty Inc, 2019
2019 Q 2
33
Millennium Tower
28A | $2,000,000 (2BR) $1318/sf
803 | $1,780,000 (1BR) $1166/sf
All Data From SFARMLS
SO L D
ACTI V E
IN CONTRACT
34E | $1,880,000 (2BR) $1097/sf
28F | $1,675,000 (2BR) $1046/sf
12J | $1,350,000 (2BR) $1118/sf
© Skybox Realty Inc, 2019
35
One Hawthorne
# of Transactions
4
300% YOY /
33% QOQ
Average $/SF
29% YOY /
20% QOQ
O N E HA WTHO RN E
AVG $1,345/SF
Q1
Q3
$1,264,750 AVG $1,330/SF
Q2
Q4
Average Sales Price
$1,093/SF AVG $1,364/SF All Data From SFARMLS
1 Hawthorne
Average $/SF
$1,330 17% YOY /
1.2% QOQ
Average Days on Market
40
26% YOY /
Buyer Demographic
263% QOQ
MI LLEN N I UM TO WER
CA S H B UYER LO A N B UYER UN K N O WN
2 0 1 9 Q1 © Skybox Realty Inc, 2019
2019 Q 2
37
One Hawthorne
21D | $1,295,000 (1BR) $1533/sf
5J | $1,500,000 (2BR) $1203/sf
All Data From SFARMLS
SO L D
ACTI V E
IN CONTRACT
21A | $1,200,000 (1BR) $1320/sf 18A | $1,200,000 (1BR) $1320/sf
10E | $1,570,000 (2BR) $1260/sf
5B | $694,000 (1BR) $1324/sf 4G | $998,000 (1BR) $1176/sf
© Skybox Realty Inc, 2019
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Skybox Realty 2019 Q2 Report
2019 Q2 Sales Address
BR / BA
SQFT
1 Hawthorne 5B
1/1
524
1 Hawthorne 21D
1/1
845
301 Mission 12J
2/2
1,207
1 Hawthorne 5J
2/2
1,247
1 Hawthorne 10E
2/2
1,246
301 Mission 34E
2/2
1,714
501 Beale 1D
1/1
828
333 Main 6H
0/1
568
333 1st 203
1/1
688
425 1st 3905
1/1
710
425 1st 2508
1/1
755
338 Main 6H
1/1
854
338 Main 9H
1/1
854
333 Beale 4C
1 / 1.5
916
318 Main 5J
1/1
882
501 Beale 6G
2/2
1,037
425 1st 4407
1/1
819
501 Beale 6B
2/2
1,019
355 1st 1607
2/2
1,166
338 Main 33D
1/1
963
All Data From SFARMLS
Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com
* Only showing sold homes in buildings featured in this book. Does not include new construction.
Sale Price
$/SF
% Sale/List
$694,000
$1,324.43
100.87
$1,295,000
$1,532.54
100.00
$1,350,000
$1,118.48
100.00
$1,500,000
$1,202.89
105.26
$1,570,000
$1,260.03
98.13
$1,880,000
$1,096.85
85.49
$680,000
$821.26
97.42
$775,000
$1,364.44
99.49
$850,000
$1,235.47
100.00
$950,000
$1,338.03
97.44
$1,080,000
$1,324.50
92.59
$1,068,000
$1,250.59
100.00
$1,198,800
$1,375.88
98.01
$1,299,000
$1,337.34
98.08
$1,225,000
$1,388.89
100.00
$1,250,000
$1,205.40
93.98
$1,308,000
$1,597.07
110.10
$1,410,000
$1,383.71
100.00
$1,425,000
$1,222.13
95.64
$1,450,000
$1,505.71
98.31
© Skybox Realty Inc, 2019
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Skybox Realty 2019 Q2 Report
2019 Q2 Sales Continued... Address
BR / BA
SQFT
401 Harrison 8F
2/2
1,240
401 Harrison 9B
2/2
1,312
489 Harrison 305
2 / 2.5
1,550
301 Main 20D
2/2
1,193
425 1st 3303
2/2
1,278
401 Harrison 14F
2/2
1,240
301 Main 31A
2/2
1,268
425 1st 4403
2/2
1,318
201 Folsom 10G
2/2
1,401
355 1st 2302
2/2
1,481
201 Folsom 10C
2/2
1,403
201 Folsom 31C
2/2
1,495
338 Spear 33F
2/2
1,582
338 Main 35C
2/2
1,491
425 1st 6001
2/2
1,639
All Data From SFARMLS
Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com
* Only showing sold homes in buildings featured in this book. Does not include new construction.
Sale Price
$/SF
% Sale/List
$1,495,000
$1,205.65
99.73
$1,585,000
$1,208.08
99.37
$1,750,000
$1,129,03
97.28
$1,788,000
$1,498.74
96.71
$1,850,000
$1,447.57
98.67
$1,850,000
$1,491.94
98.67
$1,950,000
$1,537.85
97.55
$1,998,000
$1,515.93
100.00
$2,090,000
$1,491.79
97.21
$2,093,000
$1,413.23
99.86
$2,150,000
$1,532.43
100.00
$2,360,000
$1,578.60
96.37
$2,395,000
$1,513.91
100.00
$3,100,000
$2,079.14
95.38
$3,600,000
$2,196.46
98.63
© Skybox Realty Inc, 2019
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Skybox Realty 2019 Q2 Report
Mira 280 Spear Architect
# of Units
Studio Gang
392
# in Contract / Sold
Monthly Absorption
50+
5.6 Units
181 Fremont 181 Fremont Developer
# of Units
Jay Paul
67
# in Contract / Sold
Monthly Absorption
34+
1 Unit
All Data From SFARMLS
Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com
The Harrison 401 Harrison Interiors
# of Units
Ken Fulk
298
# in Contract / Sold
Monthly Absorption
241+
7.5 Units
The Avery 488 Folsom Architect
# of Units
OMA
118
# in Contract / Sold
Monthly Absorption
20+
1.6 Units
© Skybox Realty Inc, 2019
45
Skybox Realty 2019 Q2 Report
Pablo Cela | Who You Work With Matters
South Beach Average Price per Square Foot 2019
Skybox Realty Other Brokers Skybox Realty
2018
Other Brokers Skybox Realty
2017
$700
Other Brokers
$900
$1100
$1300
$1500
All Data From SFARMLS
Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com
“
Pablo consistently exceeded expectations and deserves more stars than we can give! - Chris M
© Skybox Realty Inc, 2019
“ 47
Pablo Cela Ranked #1 at The Harrison 415.886.5121 | dre 01805459 pablo@skyboxrealty.com