SAN FRANCISCO RESIDENTIAL DEVELOPMENT OCTOBER 2015 NAVIGATION Click page numbers to be taken directly to page

NEWS & MARKET CURRENTLY NEWS AND HIGHLIGHTS MARKETHIGHLIGHTS PERFORMANCE PERFORMANCECURRENTLY SELLING SELLING

Median $/SqFt Currently Year-Over-Year Month-Over-Month CURRENTLY SELLING... Luxe New Condominium $1,218/SqFt + 15% + 2% 1650 Broadway at Van Ness | Pacific Heights Nearly half of Shipyard’s second phase is under contract. PriceResale per square Condominium foot is $1,042/SqFt + 11% + 2% averaging approximately $760. The first phase averaged approximately $660 per Status: 34 units available/0 in-contract/0 closed square foot. New Apartment $5.10/SqFt + 7% N/A Pre-sale: August 2015 Closings anticipated: Q1 2016 Less than 100 units remain available at The Rockwell. Current absorption surpasses Project info: 34 units, 7-stories, 34 parking spaces 30 units a month. p. p. Belrichp. Partners NEW CONDOMINIUM3 PRICING & VOLUME 4 Developer: 5 Sales are expected to commence this month at the second phase of Onyx , consisting Architect: Forum Design of 21 condominiums. Median Price & Closing Volume Interior Design: Edmonds + Lee Features & Finishes: Marble tile and zinc facade, Floor- Closings have commenced at Lumina’s Plaza A. Price per square$1,200,000 foot is averaging 180 approximately $1,500. to-ceiling windows, Bay and Golden Gate views, Studio 160 $1,000,000 Becker Cabinetry, Mobile kitchen islands, Caesarstone 140 Most Recent Quarter countertops, Subzero refrigerators, Thermador ap- $800,000 120 pliances, Uline wine coolers, Duravit and Hansgrohe 100 Median: $1,000,000 fixtures, Victoria + Albert limestone soaking tubs, PROPOSED... $600,000 80 Frameless glass showers; Penthouses only: Gas fire- 131 Group Housing untis have been proposed for 1798 Bryant Street$400,000 at 17th. The 7-story 60 Units Closed: 52 places, Walk-in pantries and closets, Calacatta marble,

project will offer a shared kitchen as amenity space. 40 Number Closed Custom millwork Median Sale Price $200,000 20 Units Available: 758* 36 Group Housing units have been proposed for 45 Dore Street in Western SOMA. The Amenities: Lounge, Two-story lobby $0 0 project has not proposed any car parking, and will include a communal living space. Luxe-SF.com Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Website: A six-story building has been proposed for 1075 Folsom Street at 7th. The project consistsMedian Sale of Price # Closings 34 units, 15 car spaces and 40 bicycle spaces. Panoramic Interests has proposed two five-story buildings at 333 12th Street at Folsom. 182 * As of September 2015; Restricted units have been proposed, along with 182 bicycle spacesRESALE and noSOLD-OUT car CONDOMINIUM parking. PRICING & & VOLUME UPCOMINGby phased marketing releases PIPELINE 77 units have been proposed for 552 Brannan Street at 4th. The Project proposes 34 car CLICK TO RETURN TO THE NAVIGATION PAGE CLICK TO RETURN TO THE NAVIGATION PAGE spaces and 80 bicycle spaces. RESALEMedian Price & Closing Volume DEVELOPMENTSPIPELINE SUMMARY SUMMARY 700 $1,150,000 600 $1,100,000 CITY PLANNING... AFFORDABLE HOUSING BONUS PROGRAM Approved, UnderMost Review Recent Quarterand Conceptual 500 MISSION@1875 Development $1,050,000 Developer / Owner Area Units Sales Area ApprovedCommence Under Review Conceptual What is the Affordable Housing Bonus Program (AHBP)?400 This new City Program aims to increase Median: $1,111,250 the supply of affordable housing, by increasing allowable residential density1875 Mission and height Street limits. at 15th | Mission $1,000,000 300 2655 Bush Street at Divisadero Bayview/HuntersKB Home Point/CandlestickLower Point Pac Heights 8112,771 Q4 2015 499 3,780 Status: Average $/SqFt: $1,055 $950,000 Units Closed: 560 How does it work? Developers who provide 30 percent (or200 greater) affordable units will 1001be relieved17th Street at Pennsylvania 1001 17th Street Associates Potrero Hill 26 Q4 2015 of density limits, and be allowed to build two additional residential stories. The affordable units Dogpatch 2,360 907 0 Date on market: October 2014 $900,000 would be broken down into two categories: 100 1868 Van Ness Avenue at Sacramento Hayes ValleyMonthsN/A Supply Inventory:Van 1 Ness Corridor 35 116 Q4 2015 170 24 Developer: M1875 LLC 0 p. $850,000 p. p. 12% low income (55% of area median income for rental; 90% for ownership) 17 30 32 Q1 2014 ProjectQ2 2014 info: 39Q3 units, 2014450 4-stories, HayesQ4 2014 Street 6 BMRs, at Q1Gough 2015 24 parkingQ2 2015 spaces, MonthlyMid-Market DDG/DM Hayes Valley 41 32 Q4 2015 2,590 0 HOA fee: $400 - $520 Mission 141 1,559 134 18% moderate income (120% of area median income for rental; 140% for ownership) Number Pacific Closed - 2155Median Webster Sale PriceStreet at SacramentoUNIT MIX Trumark Urban Pacific Heights 76 Q1/Q2 2016 Amenities: Rooftop pool, dog run The development would also be required to offer at least 40 percent two-bedroom units.1450 Franklin Street at Bush Mission BayVillage Properties Western Addition 67 520 Q1 2016 1,500 0 Finishes: Ann Sacks/Porcelanosa tile, hardwood floors, BlancoUnit Type Number of Size Range Developments which contain 100 percent affordable units would be offered the same relief from Northern Neighborhoods Units 132 1,663 0 density limits, and up to three additional residential stories. faucets, Bertazzoni Onemicrowaves/ranges, Rincon Hill II - 401 HarrisonLeibherr Street refrigerators, brass Rockpoint/Maximus Rincon Hill 298 Q1 2016 NEW APARTMENT PRICING & OCCUPANCY 1 - Bedroom 9 902 - 918 SqFt entry doors, Heath Ceramics house numbers, radiant heated Potrerofloors Hill 131 1,019 323 There is also an alternate State mandated Bonus Program, which allowsWebsite: for greater M1875.com density3420 and 18th Street at San Carlos 2 - Bedroom N/A 11 Mission 1,11216 - 1,697 SqFtQ1 2016 heights on a graduated basis, depending on the number and type of BMR units provided. South3 - Bedroom of Market 14 1,6071,560 - 2,014 SqFt 5,037 1,188 Average1050 Price Valencia & Occupancy Street at Hill N/A Mission 12 Q1 2016 Southern Neighborhoods 1,704 1,201 334 Where does it apply? The Program applies to residential mixed-use$4,000 districts. The program does not 95.0% CLOSING DETAILS 388 Fulton Street at Franklin 7x7 Development Hayes Valley 61 Q1 2016 apply for RH-1 or RH-2 (one- and two-family house) zoning districts,$3,900 which account for over 70% of the City. 94.0%Transbay 949 784 0 $3,800 Rowan - 346 Potrero Avenue at 16th Trumark Urban Potrero Hill 70 Q1 2016 Unit Type SqFt$3,700 HOA $ Parking Closing Price $/SqFt Closing DateTreasure Island 8,619 0 0 What are next steps? The City aims to have Program legislation enacted by year’s end. For full 93.0% Most Recent Quarter $3,600 580 Hayes Street at Laguna Laguna Hayes LLC Hayes Valley 29 Q1 2016 program details, visit SF-Planning.org.109 2/2 1,272$3,500 $560 1 $1,200,000 $943 8/28/201592.0%Upper Market 24 222 0 410 2/1 779$3,400 $420 1 One Mission$945,000 Bay - 1000$1,213 Channel Street8/3/2015 at 3rd91.0% CIMAverage: Group $3,875 Mission Bay 350 Q1 2016 $3,300 Van Ness Corridor 0 1,485 0 404 2/1 750 $412 1 $935,000 $1,247 7/28/201590.0% Occupancy Average Price Average $3,200 1 Franklin Street at Market JS Occupancy:Sullivan 91% Hayes Valley 35 Q2 2016 311 1/1 777 $419 0 $729,000 $938 6/23/2015Western Neighborhoods 9,007 574 750 $3,100 89.0% 310 1/1 779$3,000 $419 0 181 Fremont$739,000 Street at Howard$949 6/5/2015 Jay PaulTotal Company Transbay REPORT6738,066 Q2 2016 NOTES19,210 6,533 PG.3 SAN FRANCISCO RESIDENTIAL DEVELOPMENT SEPTEMBER 2015 $2,900 88.0% 411 2/1 778PROJECTEDQ1$420 2014 Q2 2014 1 Q3832 2014 Sutter&$950,000 Q4Street 2014 at JonesQ1$1,221 2015 ABOUT,Q2 20156/5/2015 CONTACTN/A Lower & Nob Hill 20 Q2 2016 308 0/1 623 $376 0 $675,000 $1,083 5/14/2015 While the Report focuses on RESIDENTIAL SUPPLY AverageKnox Price - 645 TexasOccupancy Street at 22nd Trumark Urban Potrero Hill 91 Q3 2016 HISTORICAL SUPPLY PG.5 UnderSANDISCLAIMER FRANCISCO Construction RESIDENTIAL DEVELOPMENT (by product AUGUST type) 2015 208 0/1 626 $363 0 $625,000 $998 5/11/2015 condominiums, select informa- Area Condominiums Apartments All PROJECTED SUPPLY 312 2/1 805 $410 1 TowerABOUT$910,000 at Nob Hill - 1545$1,130 Pine Street at4/24/2015 Van Ness Pacific Eagle Holdings Nob Hill tion103 on Q3apartments 2016 has been Dogpatch 0 259 259 210 1/1 779 $420 1 5800Vanguard $780,000Third Street - PhaseProperties$1,001 II 4/23/2015expertly guidesHolliday low- Development to high-densityBayview residentialpresented136 developers.Q4 2016 as Core well. The most The spike in apartment supply412 in Q1 20162/1 reflects801 the anticipation$426 of 1,3001 new $980,000units $1,223 4/22/2015Hayes Valley 166 280 446 PG.4 SAN FRANCISCO RESIDENTIAL DEVELOPMENT 1450SEPTEMBER consulting15th Street 2015 at Shotwell services include Research,10 South Land Shore Acquisition, LLC Design,Mission Branding,23 Promotion,Q4 2016 Sales being released, mostly located in large Developments South of Market. Condominium recent available data has been 204 1/1 752 $451 1 Strategy$740,000 and$984 Risk Management.4/21/2015Mid-Market From concept to close-out, Vanguard 0leads the way to 143 143 supply continues to be minimal,203 as few1/1 developments754 have broken$421 ground1 in690 recent Page$754,000 Street at Steiner$1,000 4/17/2015 Page Steiner Associates Lower Haight used,12 withQ4 2016 data from September successful development. ForMission a list of developments, visit VanguardSF.com12 0 12 months. However, there are209 over 16,0001/1 approved800 condominiums$426 in the Pipeline,1 $765,000and $956 4/17/2015 2014/2015 used for comparisons supply is poised to increase dramatically. Lately, there has been less upward pressure 406 2/1 631 $377 1 $700,000 $1,109 4/14/2015Mission Bay 0 574 574 on new apartment pricing, as compared to new condominium pricing. This is likely and statistics. Below Market due to far greater production403 of apartments.2/1 However,752 with $409developmentp. 1 timelinesFor$920,000 Developer $1,223 Services, 4/1/2015 contact:Northernp. Neighborhoods Rate279 (BMR) and senior0 housing 279 106 0/1 619 $400 330 $560,000 $905 3/31/2015 34 running one to two years between groundbreaking and completion, any anticipated FRANK NOLAN Potrero Hill JAMES NUNEMACHER units213 have been omitted453 from 666 condominium supply would202 come some1/1 years later.772 New condominium$418 inventory1 $754,000 is $977 3/16/20151 franklin South of Market 0 3,165 3,165 currently running eight percent305 lower 2/1month-over-month.780 $403 1 VP,$905,000 Director of$1,160 Development 3/10/2015 Co-founder & Principal closings and statistics where 107 0/1 633 $378 0 $575,000 $908 3/6/2015Transbay possible.67 Note that472 it can take a539 415.377.3726 415.519.7772 407 0/1 645 $368 0 1001$650,000 17th $1,008 3/6/2015Upper Market fewthe 0months pacific before87 unit closings 87 108 0/1 620 $360 0 [email protected]$589,000 $950 2/27/2015 [email protected] Projected Supply Van Ness Corridor appear34 in the public0 records. 34 206 0/1 626 $360 0 $619,000 $989 2/27/2015 2,500 BRE License No. 01300017 BRETotals License No. 00913606 Absorption771 is measured5,433 from the6,204 211 1/1 799 $426 1 $775,000 $970 2/27/2015 309 1/1 804 $402 1 $899,000 $1,118 2/27/2015 start of sales until the current 2,000 1,926 306 0/1 620 $378 0 For$650,000 additional $1,048 market 2/25/2015NOTES: reporting, contact: period. 1,500 304 1/1 751 $412 1 $901,200 $1,200 2/20/2015The category, Under Construction - Condominiums, does not include developments which are pre-selling 1,302 1,323 Units JONATHAN MOFTAKHAR 1,130 1,195 units. These developments are categorized as Currently Selling. 1,000 UNIT MIX 888 817 879 Market Analyst Northern Neighborhoods covers Cathedral Hill, Western Addition, Pacific Heights, Nob Hill, Lower Nob Hill, Unit Type Number of Size Range Financial District, Russian Hill, Telegraph Hill, North Beach & Marina/Cow Hollow. 500 438Units 312 415.920.3731 Studio PG.2 SAN FRANCISCO10 208 RESIDENTIAL241 620 SqFtDEVELOPMENT OCTOBER 2015Southern Neighborhoods covers Oceanview, Glen Park, Outer Mission, Mission Terrace, Visitacion Valley. 0 84 23 [email protected] 1 - Bedroom 13 780 - 795 SqFt Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Western Neighborhoods covers Park Merced, Parkside, Forest Knolls, Richmond, Sunset, Laurel Heights. 2 - Bedroom 16 628 - 1,272 SqFtBRE License No. 01442709 New Condominiums New Apartments PG.17 SAN FRANCISCO RESIDENTIAL DEVELOPMENT OCTOBER 2015 PG.30 SAN FRANCISCO RESIDENTIAL DEVELOPMENT OCTOBER 2015 HISTORICAL SUPPLY PG.29 SAN FRANCISCO RESIDENTIAL DEVELOPMENT JULY 2015

Affordable units accounted for 21% of production in 2014. 63% of affordable units produced were targeted towards households earning 80% of area median income (AMI).

Historical Supply

4,000 3,454 3,500 3,366 3,019 VANGUARD PROPERTIES REPORT DISCLAIMER 3,000 2,730 Data sources for this Report include but are not limited to SFAR MLS, the San Francisco Planning Department, development mar - 2,500 2,260 2,330 2,197 keting2,141 websites and industry news/information outlets. The information in this Report is subject to errors, as it is compiled from 2,000 1,859 1,7801,872 multiple sources, with varying degrees of accuracy and currency. This Report should not be reproduced or distributed, in whole or 1,619 1,675 in part, without the prior written consent of Vanguard Properties. The statements in this Report, which are not historical facts, are 1,500 1,225 1,082 projections or estimates based on Vanguard Properties’ opinions and expectations of future market performance. Although the New Units Produced 909 906 909 1,000 794 information presented is believed to be correct, no representation is made by Vanguard Properties as to the accuracy or complete - 532 500 348 ness of the information. The information presented may be subject to updating, revision or verification, and such information may change in a material nature. This is not an offer to rent or sell property, and is intended for information purposes only. This Report 0 should not be relied upon or utilized in making investment decisions. ©2015 Vanguard Properties, All rights reserved.

* Year-to-date

PG.31 SAN FRANCISCO RESIDENTIAL DEVELOPMENT AUGUST 2015

PG.31 SAN FRANCISCO RESIDENTIAL DEVELOPMENT JULY 2015 CLICK TO RETURN TO THE NAVIGATION PAGE NEWS AND HIGHLIGHTS

CURRENTLY SELLING...

New construction inventory is down seven percent month-over-month, while price per square foot is up 19% year-over-year.

The resale Months Supply Inventory (MSI) has risen to 1.5 months, from 1 month in September.

Sales have commenced at Onyx (phase II), a 21-unit project in Potrero Hill.

Sales have commenced at Sapphire, a 15-unit project in South of Market.

Initial price per square foot for Luxe in Pacific Heights is nearly $1,900.

Lumina is approximately 60% sold-out.

PROPOSED...

A mixed-use hotel/residential building has been proposed at 48 Tehama Street in the Transbay District. Nine residential units and 119 hotel rooms are planned for the 32-story building.

70 group housing units have been proposed to replace a surface parking lot at 57 Taylor Street in the Tenderloin. No car spaces and 70 bicycle spaces are planned for the 11-story project.

Supervisor Jane Kim is requesting that the Treasure Island Redevelopment project set aside 40% of units as Below Market Rate, up from the 25% currently planned for.

CITY PLANNING...

In November, voters will decide whether to pass Proposition I, the Mission District Housing Moratorium Initiative. The Initiative proposes to halt all market-rate housing in the Mission for a duration of 18-months. The Initiative was put forth in response to the influx of higher-income residents in the Mission, and the displacement of lower-income residents. At the request of Supervisors Farrell and Weiner, the City’s Office of Economic Analysis prepared a Report outlining the potential effects of such a Moratorium. The Report concluded the following:

“In terms of the potential costs, the report finds that a temporary, 18-month moratorium would lead to slightly higher housing prices across the city, have no appreciable effect on no-fault eviction pressures, and have a limited impact on the city’s ability to produce affordable housing during the moratorium period. At the end of the moratorium, these effects would be reversed, through a surge of new building permits and construction, and there would be no long-term lasting impacts of a temporary moratorium. In terms of the potential benefits, the report finds no evidence that a temporary moratorium would prevent the demolition of existing housing and direct displacement of current residents, discourage upper-income households from moving into the Mission, or ease rising rents and housing prices in the neighborhood.”

For the full Report, visit SFController.org

PG.3 SAN FRANCISCO RESIDENTIAL DEVELOPMENT OCTOBER 2015 CLICK TO RETURN TO THE NAVIGATION PAGE MARKET PERFORMANCE

Median $/SqFt Currently Year-Over-Year Month-Over-Month New Condominium $1,273/SqFt + 19% + 5% Resale Condominium $991/SqFt + 13% - 5% New Apartment $5.10/SqFt + 7% N/A

NEW CONDOMINIUM PRICING & VOLUME

Median Price & Closing Volume 180 $1,200,000 160 $1,000,000 140 Most Recent Quarter 120 $800,000 100 Median: $1,012,234 $600,000 80 60 $400,000 Units Closed: 25 40 $200,000 20 Units Available: 702* 0 $0 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Number Closed Median Sale Price

* As of October 2015; Restricted by RESALE CONDOMINIUM PRICING & VOLUME marketing releases

Median Price & Closing Volume 800 $1,150,000 700 $1,100,000 600 Most Recent Quarter 500 $1,050,000 Median: $1,066,000 400 $1,000,000 300 $950,000 Units Closed: 571 200 100 $900,000 Months Supply Inventory: 1.5* 0 $850,000 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015

Number Closed Median Sale Price

* As of October 2015 NEW APARTMENT PRICING & OCCUPANCY

Average Price & Occupancy $4,000 95.0% $3,900 $3,800 94.0% $3,700 93.0% $3,600 Most Recent Quarter $3,500 92.0% $3,400 91.0% Average: $3,875 $3,300 90.0% Occupancy Average Price Average $3,200 Occupancy: 91% $3,100 89.0% $3,000 $2,900 88.0% Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Average Price Occupancy

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DEVELOPMENT SNAPSHOT Currently Selling

ONYX ON THE PARK

310 Carolina Street at 17th | Potrero Hill Status: 14 units available/2 in-contract/0 closed, Aver- age $/SqFt: $1,270 Project info: 21 units (5 developer held), 4-stories, 21 parking spaces Developer: SJK Development Architect: Gary Gee Features & Finishes: Deeded storage units, Wide- plank rustic-oak floors, PentalQuartz counter tops, Glass tile backsplash, High-gloss Barbosa cabinetry, LED lighting accents, Hans Grohe fixtures, Porcelain tile, Nest thermostats, Vent-out clothes dryer, Cat6 wiring, Security systems, Webpass Internet, Intercom/ video system, Individual water meters Amenities: Common area solar panels, Two-story lob- by, Roof terrace with BBQ/WIFI Website: OnyxSF.com

SAMPLE LISTINGS

Unit Number Type SqFt HOA $ Parking List Price $/SqFt 201 1/1 881 $423 1 $1,089,000 $1,236 202 1/1 844 $417 1 $1,149,000 $1,361 203 2/2 916 $429 1 $1,149,000 $1,254 205 1/1 706 $394 1 $899,000 $1,273 207 2/2 1,271 $487 1 $1,379,000 $1,085 301 1/1 903 $427 1 $1,129,000 $1,250 302 1/1 898 $426 1 $1,029,000 $1,146 303 2/2 877 $422 1 $1,069,000 $1,219 304 2/2.5 1,241 $482 1 $1,499,000 $1,208 305 1/1 724 $397 1 $869,000 $1,200 401 1/1 903 $427 1 $1,249,000 $1,383 402 1/1 897 $426 1 $1,099,000 $1,225 403 2/2 877 $422 1 $1,199,000 $1,367 405 1/1 722 $397 1 $929,000 $1,287 406 2/2.5 1,272 $487 1 $1,799,000 $1,414 407 2/2 1,291 $490 1 $1,799,000 $1,393

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DEVELOPMENT SNAPSHOT Currently Selling

SAPPHIRE

252 9th Street at Howard | South of Market Status: 12 units available/3 in-contract/0 closed, Aver- age $/SqFt: $1,202 Project info: 15 units, 4-stories, 0 parking spaces Developer: Stan Chia Architect: Sia Consulting Features & Finishes: Wide-plank oak floors, Bertazzoni ranges/microwaves, Frigidaire refrigerators, Silostone counter tops, Ceramic-tiled bathrooms, Toto toilets Amenities: Bicycle storage, Storage lockers, Roof ter- race, Dog run Website: SapphireSF.com

SAMPLE LISTINGS

Unit Number Type SqFt HOA $ Parking List Price $/SqFt 201 1/1 634 $430 0 $739,000 $1,166 203 2/1 715 $443 0 $799,000 $1,117 302 2/1 764 $437 0 $828,000 $1,084 401 1/1 634 $430 0 $788,000 $1,243 403 2/1 715 $436 0 $925,000 $1,294 404 2/1 833 $443 0 $989,000 $1,187 202 1/1 741 $437 0 $955,000 $1,289 303 2/1 715 $436 0 $889,000 $1,243

UNIT MIX

Number of Unit Type Units Approximate Size Range 1 - Bedroom 8 550 - 775 SqFt 2 - Bedroom 7 715 - 875 SqFt

PG.6 SAN FRANCISCO RESIDENTIAL DEVELOPMENT OCTOBER 2015 CLICK TO RETURN TO THE NAVIGATION PAGE

DEVELOPMENT SNAPSHOT Currently Selling

LUXE

1650 Broadway at Van Ness | Pacific Heights Status: 29 units available/5 in-contract/0 closed, Aver- age $/SqFt (sample listings): $1,868 Pre-sale: October 1st 2015 Closings anticipated: Q1 2016 (mid-January) Project info: 34 units, 7-stories, 47 parking spaces (valued at $100K/space), HOA: $815 - $1,085 Developer: Belrich Partners Architect: Forum Design Interior Design: Edmonds + Lee Features & Finishes: Marble tile and zinc facade, Floor- to-ceiling windows, Bay and Golden Gate views, Studio Becker Cabinetry, Mobile kitchen islands, Caesarstone counter tops, Subzero refrigerators, Thermador appli- ances, Uline wine coolers, Duravit and Hansgrohe fix- tures, Victoria + Albert limestone soaking tubs, Frame- less glass showers, 9-foot ceilings; Penthouses only: Gas fireplaces, Walk-in pantries and closets, Calacatta marble, Custom millwork, 10-foot ceilings Amenities: Lounge, 2-story lobby, Part-time attendant Website: Luxe-SF.com Sales office: 1954 Union Street

SAMPLE LISTINGS

Unit Number Type SqFt Parking List Price $/SqFt 205 1/1.5 816 1 $1,150,000 $1,409 104 2/2 1,103 1 $1,250,000 $1,133 202 3/2.5 1,584 1 $2,125,000 $1,342 501 3/2.5 1,394 1 $2,995,000 $2,148 702 3/2.5 1,965 2 $5,300,000 $2,697

UNIT MIX

Number of Unit Type Units Size Range 1 - Bedroom 9 816 - 899 SqFt 2 - Bedroom 11 1,040 - 1,121 SqFt 3 - Bedroom 12 1,487 - 1,943 SqFt 3 - Bedroom Penthouse 2 2,014 SqFt

PG.7 SAN FRANCISCO RESIDENTIAL DEVELOPMENT OCTOBER 2015 CLICK TO RETURN TO THE NAVIGATION PAGE

DEVELOPMENT SNAPSHOT Currently Selling

FULTON 555

555 Fulton Street at Octavia | Hayes Valley Status: 97 units available (17 BMRs)/42 in-contract/0 closed, Approximate absorption: 14 units/month, Aver- age $/SqFt: $1,270 Ground Broken: May 2014 Pre-sale: July 2015 First Closings Anticipated: March 2016 Project info: 139 units, 5-stories, 148 parking spaces (77 retail/68 residential), Monthly HOA fee: $450 - $750 Developer: Fulton Street Ventures Architect: Ian Birchall & Associates Features & Finishes: Bosch appliances, Hardwood floors, Concrete construction Amenities: Lounge, Roof terrace, Dog park, Bicycle re- pair station, Conference room, Part-time lobby atten- dant, Zirx valet, 30,000 SqFt grocery store Website: Fulton555.com

SAMPLE LISTINGS

Unit Number Type SqFt HOA $ Parking List Price $/SqFt 334 2/2 851 $549 1 $1,127,885 $1,325 227 1/1 710 $521 0 $799,000 $1,125 315 1/1 715 $521 0 $818,000 $1,144 416 2/2 855 $549 1 $1,150,824 $1,346

UNIT MIX

Number of Unit Type Units Size Range Studio/Junior 1 - Bedroom 5 536 - 687 SqFt 1 - Bedroom 67 452 - 1,278 SqFt 2 - Bedroom 64 814 - 1,195 SqFt 3 - Bedroom 2 1,863 - 2,127 SqFt 5 - Bedroom Penthouse 1 2,340 SqFt

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DEVELOPMENT SNAPSHOT Currently Selling

6 MINT PLAZA

418 Jessie Street (5th & Mission) | South of Market Status: 6 units available/3 in-contract/13 closed, Average sold $/SqFt: $1,345, Approximate absorption: 4 units/ month Project info: 22 units, 8-stories, Date on Market: June 2015 Owner: The Carlyle Group/Veritas Features & Finishes: Historic rehab of early twentieth-cen- tury building, Acid-stained concrete floors, Exposed con- crete and plaster walls, Industrial-era windows, Birch wood doors, Viking refrigerators, Thermador cook tops, Bosch washer/dryers, Concrete and stone counter tops, Monarch hardwood floors, Stainless steel soaking tubs, Walk-in clos- ets, Private balconies, Central heat and air conditioning Amenities: Roof terrace with spa and BBQ, Gym, Fob-se- cured entry, 24-hour guard service, Mint Plaza Merchants: Blue Bottle Coffee, Mint 54 Italian Kitchen, flower stand Website: 6MintPlaza.com

CLOSING DETAILS

Unit Number Type SqFt HOA $ Closing Price $/SqFt Closing Date 603 1/1 728 $571 $970,000 $1,332 9/16/2015 304 2/2 863 $665 $1,150,000 $1,333 9/9/2015 701 1/1 606 $485 $850,000 $1,403 9/4/2015 401 1/1 605 $484 $799,000 $1,321 9/2/2015 303 2/1 712 $559 $899,000 $1,263 9/1/2015 402 2/1 766 $597 $945,000 $1,234 9/1/2015 703 2/1 729 $571 $990,000 $1,358 9/1/2015 802 3/3 1,679 N/A $2,745,000 $1,635 8/27/2015 306 2/1 817 $650 $995,000 $1,218 7/31/2015 301 1/1 601 $481 $770,000 $1,281 7/29/2015 201 1/1 589 $473 $712,000 $1,209 7/24/2015 501 1/1 607 $485 $771,500 $1,271 7/1/2015 503 2/1 729 $571 $896,500 $1,230 6/24/2015

PG.9 SAN FRANCISCO RESIDENTIAL DEVELOPMENT OCTOBER 2015 CLICK TO RETURN TO THE NAVIGATION PAGE DEVELOPMENT SNAPSHOT Currently Selling

400 GROVE

400 Grove Street at Gough | Hayes Valley Status: 1 unit available/33 in-contract/0 closed, Approxi- mate absorption: 9 units/month, Average $/SqFt: $1,275 Project info: 34 units, 4 BMRs, 5-stories, 17 parking spaces (valued at $125K a space), 34 bicycle spaces, Monthly HOA fee: $600 - $950 ($98 monthly parking fee) Pre-sale: May 2015 Closings anticipated: September 2015 Developer: DM & DDG Architect: Fougeron Landscape Architect: Marta Fry Features & Finishes: Redwood rain screen, FSC certified 7.5”-wide oak plank flooring, LED accent lighting, SieMatic kitchen cabinetry, Corian counter tops, Blanco/Hansgrohe faucets, Duravit bathroom cabinets/fixtures, Bosch appli- ances, Liebherr refrigerators, Approx. 9’+/- ceilings, Gladia- tor storage rails at garage Amenities: Virtual Doorman, Courtyard bamboo garden, Roof terrace with BBQ, On-site restaurant (“Little Gem”) Website: 400Grove.com

SAMPLE LISTINGS

Unit Number Type SqFt HOA $ Parking List Price $/SqFt

104 0/1 577 $692 0 $694,000 $1,203 403 2/2 905 $817 1 $1,275,000 $1,409 402 2/2 1,098 $886 1 $1,528,000 $1,392 103 2/2 1,110 $887 1 $1,414,500 $1,274 501 2/2.5 1,369 $967 1 $2,095,000 $1,530 105 2/2 1,009 $844 1 $1,350,000 $1,338

UNIT MIX & PRICING SUMMARY

Number of Unit Type Units Size Range Price Range Junior 1 - Bedroom 8 428 - 578 SqFt $550K - $700K 1 - Bedroom 7 470 - 815 SqFt $700K - $850K 2 - Bedroom 19 760 - 1,369 SqFt $1MM - $2.1MM

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DEVELOPMENT SNAPSHOT Currently Selling

SAN FRANCISCO SHIPYARD (2nd Release)

11 Innes Court - Hunters Point Status: 84 units available (16 BMRs)/75 in-contract/0 closed, Approximate absorption: 13 units/month, $/SqFt: $764 Project info: 159 units, Two-car parking for townhomes, One-car parking for condominiums, Monthly HOA fees: $210 - $227 (townhomes), $356 - $476 (condos) Pre-sale: April 2015 Closings anticipated: Q1 2016 Developer: Lennar Urban Architect: Kava Massih Features & Finishes: Nest thermostats and smoke/car- bon dioxide detectors, Bosch appliances, Caesarstone and quartz counter tops, Barbosa high-gloss cabinetry, Por- celanosa bathroom floors, Plyboo wire-brushed hardwood floors, Private outdoor spaces, Secured parking, Dropcam Amenities: Downtown shuttle, Terraces, Bicycle parking Website: TheSFShipyard.com

SAMPLE LISTINGS

Unit Number Type SqFt HOA $ Parking List Price $/SqFt 551 Hudson - 301 2/2 970 $417 1 $780,500 $805 555 Innes - 314 2/2 1,009 $424 1 $850,500 $843 555 Innes - 407 2/2 1,212 $467 1 $940,000 $776 273 Friedell 3/2.5 1,341 $220 2 $998,500 $745 555 Innes - 211 1/1 603 $350 1 $550,800 $913

UNIT MIX

Number of Unit Type Units Size Range 2 - Bedroom Townhome 20 1,070 - 1,180 SqFt 3 - Bedroom Townhome 34 1,200 - 1,620 SqFt 1 - Bedroom Condo 46 550 - 811 SqFt 2 - Bedroom Condo 54 960 - 1,380 SqFt 3 - Bedroom Condo 5 1,235 - 1,285 SqFt

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DEVELOPMENT SNAPSHOT Currently Selling

THE ROCKWELL

1688 Pine Street at Franklin | Pacific Heights Status: 95 units available (31 BMRs), 165 units in-contract, 0 units closed, Approximate absorption: 33 units/month, Aver- age $/SqFt: $1,262 Project info: Two 13-story towers, 260 units (115-unit East Tower + 145-unit West Tower), 201 parking spaces, 5,500 SqFt retail, Monthly HOA fee: $600 - $1,000 Ground broken: Q4 2014 Pre-sale: May 2015 First Closings anticipated: September 2016 - West Tower, November 2016 - East Tower Developer: Oyster Development (Tricon Capital – equity) Architect: Kwan Henmi Interiors: II by IV Design Amenities: Resident’s lounge with kitchen/dining/screening room, Roof terrace with seating/fireplace, Fitness center, Courtyard garden with fireplace/BBQ, 24-hour lobby atten- dant, Lobby solarium with walnut paneling, Lounge with bar Features & Finishes: Private balconies, Air conditioning, Caesarstone counter tops, Porcelain tile in bathrooms, Stu- dio Becker cabinetry, Bosch/Bertazzoni appliances (exterior exhaust venting), Walk-in shower and dual sinks in master bathrooms, Approx. 9’ +/- ceilings Sales gallery: 1651 Polk Street Website: TheRockwellSF.com

SAMPLE LISTINGS

Unit Number Type SqFt HOA $ Parking List Price $/SqFt W604 1/1 694 $623 0 $789,000 $1,137 E-513 1/1 831 $704 1 $998,000 $1,201 W1108 2/2 1,068 $764 1 $1,479,000 $1,385 E801 2/2 890 $719 1 $1,128,000 $1,267 E608 1/1 561 $590 0 $714,000 $1,273

UNIT MIX & PRICING SUMMARY

Unit Type Number of Units Size Range Price Range 1 - Bedroom 142 448 - 832 SqFt $600K - $1M 2 - Bedroom 117 874 - 1,515 SqFt $1M - $2.5M 3 - Bedroom 1 1,762 SqFt $3.1M

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DEVELOPMENT SNAPSHOT Currently Selling

72 TOWNSEND

72 Townsend Street at 2nd | SOMA - South Beach Status: 48 units available (7 BMRs)/26 units in-con- tract/0 closed, Average $/SqFt: $1,400, Approximate absorption: 4 units/month Project info: 74 units, 9-stories, 74 parking spaces, HOA: $653 - $1,257, Ground broken: Q1 2014 Date on market: April 2015 Closings anticipated: No- vember 2015 Developer: KB Home Architect: SB Architects Amenities: Lobby attendant, Roof terrace, Lounge Features & Finishes: Bay views, Soaking tubs, Studio Becker cabinetry, Caesarstone counters, Moen faucets, Bosch/Thermador appliances, Kohler sinks, Floor-to- ceiling windows, Approx. 9’ ceiling heights Website: 72Townsend.com

SAMPLE LISTINGS

Unit Number Type SqFt HOA $ Parking List Price $/SqFt 409 2/2 1,146 $834 1 $1,420,000 $1,239 306 2/1 935 $786 1 $1,441,988 $1,542 606 2/2 1,175 $834 1 $1,750,000 $1,489 607 1/1.5 851 $773 1 $1,389,841 $1,633 309 2/2 1,136 $833 1 $1,664,000 $1,465 404 2/2 1,260 $834 1 $1,539,000 $1,221

UNIT MIX* & PRICING SUMMARY

Number of Unit Type Units Size Range Price Range 1 - Bedroom 31 619 - 1,005 SqFt $825K - $1.4M 2 - Bedroom 33 935 - 1,289 SqFt $1.4M - $1.8M 2 - Bedroom Penthouse 1 1,444 SqFt $3.5M 3 - Bedroom Penthouse 2 1,571 - 1,740 SqFt $3.5M - $4.4M

*BMRs excluded

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DEVELOPMENT SNAPSHOT Currently Selling

LUMINA 201 Folsom Street at Beale | South Beach Status: 262 units available/354 in-contract/40 closed, Ap- proximate $/SqFt: $1,475, Approximate absorption: 33 units/ month Project info: 656 units, one 42-story tower, one 37-story tower, two 8-story podiums Developer: Tishman Speyer (China Vanke – equity partner) Architect: Arquitectonica and Heller Manus Date on market: September 2014 First closings: September 2015 Amenities: 10,500 SqFt rooftop with vegetable garden/din- ing/fire pits/movie screening, 7,000 SqFt fitness center with yoga studio/aerobics room/20-foot climbing wall, lounge with fireplace/bar, private dining room with chef’s kitchen/ prep kitchen/fireplace/outdoor terrace, screening room with tiered seating for thirty/surround sound, 75-foot lap pool, library with WIFI, 2,000 SqFt spa with treatment room/day lockers/steam room/sauna, children’s room, music practice room, pet grooming station, on-site gourmet grocer Features & Finishes: 9’ to 10’10” ceilings, Bay views, Gag- genau ovens/cook tops, Bosch refrigerators/dishwashers, Caesarstone quartz counter tops/backsplash, SieMatic cab- inetry, marble vanity counter tops, porcelain tile bathroom floors/shower walls, Nest Thermostats Sales office: 289 Main Street Website: LuminaSF.com

SAMPLE LISTINGS

Unit Type HOA $ Parking List Price 333 Beale - 2C 1/1 $1,000 1 $1,095,000 333 Beale - 7G 2/2 $1,100 1 $1,995,000 333 Beale - 2G 1/2 $1,020 1 $1,295,000 318 Main - 8F 3/3 $1,370 1 $3,295,000

UNIT MIX & PRICING SUMMARY

Number of Unit Type Units Size Range Price Range Studio/Jr. 1-Bedroom 16 650 - 870 SqFt $850K - $950K 1 - Bedroom 200 850 - 1,400 SqFt $1.1M - $1.7M 2 - Bedroom 373 1,180 - 1,600 SqFt $1.5M - $3.5M 3 - Bedroom 67 1,700 - 2,650 SqFt $3.2M - $6M Penthouse (options) - 8,000 - 15,000 SqFt $29M - $49M

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DEVELOPMENT SNAPSHOT Currently Selling

TOWNHOMES ON TENNESSEE

1189 Tennessee Street at 22nd | Dogpatch Status: 1 unit available/0 in-contract/10 closed, Average $/SqFt: $1,087, Approximate absorption: 3 units/month Project info: 11 units, 4-stories, 12 parking spaces, HOA: $481 - $693 Date on market: April 2015 Architect: Gary Gee Amenities: Elevator, Bicycle storage Features & Finishes: Wide-plank oak floors, Underfloor heating, Elfa closet systems, Vaulted ceilings, Private terraces, Viking appliances, Quartz counter tops, Grohe faucets, Soaking tubs Website: DogpatchTownhomes.com

CLOSING DETAILS

Unit Number Type SqFt HOA $ Parking Closing Price $/SqFt Closing Date 202 3/2.5 1,922 $698 1 $1,675,000 $871 8/21/2015 401 1/2 866 $573 1 $1,095,000 $1,264 7/3/2015 403 2/2 1,034 $589 1 $1,295,000 $1,252 6/16/2015 201 2/2 1,225 $611 1 $1,285,000 $1,049 6/12/2015 402 2/2 1,145 $602 1 $1,295,000 $1,131 6/12/2015 404 1/1.5 1,004 $587 1 $1,175,000 $1,170 6/12/2015 203 3/2.5 1,652 $691 2 $1,795,000 $1,087 6/10/2015

INDIA COVE LOFTS

748 Innes Avenue | Hunters Point Status: 1 unit available/5 units in-contract/0 closed Average $/SqFt: $598 Project info: 6 units, 4-stories, Monthly HOA fee: $590 - $620 Date on market: April 2015 Architect: Samuel Kwong Amenities: On-site health spa, Roof terrace, Spa membership Features & Finishes: Granite counter tops, Gas fireplaces, Bay and City views Website: IndiaCoveLofts.com

SAMPLE LISTINGS

Unit Type SqFt Parking List Price $/SqFt

ACTIVE 303 1/1.5 775 1 $495,000 $639 304 1/1.5 862 1 $515,000 $597 302 1/1.5 981 1 $549,000 $560 301 2/2 998 1 $595,000 $596

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DEVELOPMENT SNAPSHOT Currently Selling

SUMMIT 800

800 Brotherhood Way at Junipero Serra | Park Merced Status: 80 units available/57 in-contract/45 closed, Approxi- mate absorption: 7 units/month, Average sold $/SqFt: $688 Developer: Comstock Homes & Maracor Development Project info: 182 units, Townhomes and single family homes, 2-3 car parking, Monthly HOA fee: $205 - $760 Date on market: July 2014 Amenities: HOA maintained front yard landscaping, adjacent to two-acre park with tot lot/dog area Features and Finishes: Decks, walk-in closets, Copper Creek polished chrome door hardware, Emser ceramic tile floors, Crema Marfil master bath floors, Superior Shaw stain-resistant carpet, Andersen windows and sliding doors, granite kitchen counter tops and backsplash, Viking appliances, Kohler sinks and tubs, Delta faucets, powder rooms in each floor plan, Piedrafina bathroom counter tops and surrounds, 1.5 KW solar system, tank-less water heaters Website: Summit800.com

CLOSING DETAILS

Unit Type SqFt HOA $ Parking Closing Price $/SqFt Closing Date 120 3/2 1,547 $654 2 $1,012,234 $654 9/30/2015 291 3/2.5 2,001 $189 3 $1,519,538 $759 9/30/2015 101 3/2.5 2,133 $276 2 $1,299,077 $609 8/26/2015 103 3/2.5 2,133 $276 2 $1,399,015 $656 8/26/2015 105 3/2.5 2,024 $274 2 $1,360,000 $672 8/21/2015 297 3/2.5 2,001 $187 3 $1,603,000 $801 7/28/2015 301 3/2.5 2,001 $206 3 $1,623,000 $811 7/17/2015 102 3/2.5 1,839 $248 2 $1,143,594 $622 6/11/2015 299 3/2.5 2,001 $206 3 $1,450,000 $725 6/9/2015 96 3/2 1,547 $249 2 $1,021,207 $660 6/5/2015 85 3/2.5 2,133 $294 2 $1,356,536 $636 5/28/2015 89 3/2.5 2,024 $293 2 $1,400,000 $692 5/22/2015 83 3/2.5 2,024 $293 2 $1,516,329 $749 5/7/2015 106 3/2 1,547 $248 2 $1,016,000 $657 5/1/2015 309 3/2.5 2,001 $238 3 $1,450,000 $725 4/20/2015 73 3/2.5 2,024 $325 2 $1,470,000 $726 4/20/2015 69 3/2.5 2,133 $566 2 $1,430,000 $670 3/30/2015 71 3/2.5 2,133 $566 2 $1,188,000 $557 3/9/2015

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MISSION@1875

1875 Mission Street at 15th | Mission Status: Average $/SqFt: $1,055 Date on market: October 2014 Developer: M1875 LLC Project info: 39 units, 4-stories, 6 BMRs, 24 parking spaces, Monthly HOA fee: $400 - $520 Amenities: Rooftop pool, dog run Finishes: Ann Sacks/Porcelanosa tile, hardwood floors, Blanco faucets, Bertazzoni microwaves/ranges, Leibherr refrigerators, brass entry doors, Heath Ceramics house numbers, radiant heated floors Website: M1875.com

CLOSING DETAILS

Unit Type SqFt HOA $ Parking Closing Price $/SqFt Closing Date 109 2/2 1,272 $560 1 $1,200,000 $943 8/28/2015 410 2/1 779 $420 1 $945,000 $1,213 8/3/2015 404 2/1 750 $412 1 $935,000 $1,247 7/28/2015 311 1/1 777 $419 0 $729,000 $938 6/23/2015 310 1/1 779 $419 0 $739,000 $949 6/5/2015 411 2/1 778 $420 1 $950,000 $1,221 6/5/2015 308 0/1 623 $376 0 $675,000 $1,083 5/14/2015 208 0/1 626 $363 0 $625,000 $998 5/11/2015 312 2/1 805 $410 1 $910,000 $1,130 4/24/2015 210 1/1 779 $420 1 $780,000 $1,001 4/23/2015 412 2/1 801 $426 1 $980,000 $1,223 4/22/2015 204 1/1 752 $451 1 $740,000 $984 4/21/2015 203 1/1 754 $421 1 $754,000 $1,000 4/17/2015 209 1/1 800 $426 1 $765,000 $956 4/17/2015 406 2/1 631 $377 1 $700,000 $1,109 4/14/2015 403 2/1 752 $409 1 $920,000 $1,223 4/1/2015 106 0/1 619 $400 0 $560,000 $905 3/31/2015 202 1/1 772 $418 1 $754,000 $977 3/16/2015 305 2/1 780 $403 1 $905,000 $1,160 3/10/2015 107 0/1 633 $378 0 $575,000 $908 3/6/2015 407 0/1 645 $368 0 $650,000 $1,008 3/6/2015 108 0/1 620 $360 0 $589,000 $950 2/27/2015 206 0/1 626 $360 0 $619,000 $989 2/27/2015 211 1/1 799 $426 1 $775,000 $970 2/27/2015 309 1/1 804 $402 1 $899,000 $1,118 2/27/2015 306 0/1 620 $378 0 $650,000 $1,048 2/25/2015 304 1/1 751 $412 1 $901,200 $1,200 2/20/2015

UNIT MIX

Number of Unit Type Units Size Range Studio 10 620 SqFt 1 - Bedroom 13 780 - 795 SqFt 2 - Bedroom 16 628 - 1,272 SqFt

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DEVELOPMENT SNAPSHOT Recently Sold-Out

V20

3590 20th Street at Valencia | Mission Average $/SqFt: $1,551 Approximate absorption: 4 units/month Project info: 18 units, 5-stories, 18 parking spaces, Monthly HOA fee: $445 - $527 Date on market: March 2015 Architect: Kerman Morris Amenities: Roof terrace, Courtyard, Elevator, Bicycle storage Features & Finishes: Private outdoor spaces, Oak floors, Studio Becker cabinetry, Miele appliances, Pentalquartz counter tops, Grohe fixtures, Walk-in showers, Gas fire- places Website: Valencia20.com

CLOSING DETAILS

Unit Type SqFt Parking Closing Price $/SqFt Closing Date 505 2/3 1,634 1 $2,595,000 $1,588 6/27/2015 201 3/2 1,310 1 $2,000,000 $1,527 6/17/2015 202 3/2 n/a 1 $1,700,000 n/a 6/17/2015 205 2/2 n/a 1 $1,625,000 n/a 6/17/2015 301 3/2 n/a 1 $1,950,000 n/a 6/17/2015 302 3/2 n/a 1 $1,650,000 n/a 6/17/2015 303 2/2 n/a 1 $1,625,000 n/a 6/17/2015 502 3/2.5 n/a 1 $2,100,000 n/a 6/17/2015 504 3/2.5 1,811 1 $2,595,000 $1,433 6/17/2015 508 3/2.5 n/a 1 $2,100,000 n/a 6/17/2015

UNIT MIX

Number of Unit Type Units Size Range 2 - Bedroom 6 1,126 - 1,671 SqFt 3 - Bedroom 12 1,266 - 1,811 SqFt

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DEVELOPMENT SNAPSHOT Recently Sold-Out

VIDA

2558 Mission Street at 22nd | Mission Approximate absorption: 8 units/month, Average $/ SqFt: $1,116 Developer: Oyster Development Architect: Kwan Henmi Project info: 114 units, 8-stories, off-site BMRs, 77 park- ing spaces, Date on market: March 2014, All units in-con- tract: July 2015 Amenities: Roof terrace with BBQ, lounge area Finishes: Bosch & Bertazzoni appliances, quartz counter tops, exposed concrete ceilings and columns, porcelain tile bathroom floors

CLOSING DETAILS

Unit Number Type SqFt HOA $ Parking Closing Price $/SqFt Closing Date 201 2/2 1,145 $655 1 $1,199,000 $1,047 8/10/2015 703 2/2 1,521 $715 1 $1,769,000 $1,163 6/26/2015 205 2/2 1,024 $607 1 $1,130,000 $1,104 6/5/2015 209 2/2 899 $591 1 $972,000 $1,081 6/4/2015 803 2/2 1,138 $715 1 $1,599,000 $1,405 5/29/2015 712 1/1 507 $431 0 $670,000 $1,321 5/14/2015 606 2/2 943 $589 1 $1,199,000 $1,271 5/11/2015 206 2/2 943 $589 1 $1,013,000 $1,074 5/1/2015 408 2/2 905 $581 1 $976,000 $1,078 4/28/2015 601 2/2 1,060 $615 1 $1,239,000 $1,169 4/24/2015 613 1/1 631 $458 0 $783,000 $1,241 4/24/2015 514 1/1 507 $431 0 $644,797 $1,272 4/22/2015 207 2/2 915 $586 1 $1,000,000 $1,093 4/17/2015 304 1/1 672 $467 0 $718,000 $1,068 4/17/2015 507 2/2 916 $583 1 $1,069,000 $1,167 4/16/2015 516 1/1 517 $434 0 $653,000 $1,263 4/16/2015 311 1/1 660 $465 0 $659,000 $998 4/13/2015 314 1/1 507 $431 0 $575,000 $1,134 3/31/2015 204 1/1 680 $469 0 $649,000 $954 3/25/2015 306 2/2 943 $589 1 $939,000 $996 3/6/2015 212 2/1 804 $409 1 $867,000 $1,078 2/27/2015 413 1/1 631 $458 0 $689,000 $1,092 2/27/2015 402 1/1 816 $561 1 $799,000 $979 2/17/2015 315 0/1 494 $429 0 $579,000 $1,172 1/30/2015 307 2/2 916 $583 1 $917,000 $1,001 1/29/2015 415 0/1 494 $429 0 $599,000 $1,213 1/27/2015 416 0/1 517 $434 0 $599,000 $1,159 1/15/2015 509 2/2 1,003 $602 1 $1,195,000 $1,191 1/15/2015 313 1/1 631 $458 0 $654,000 $1,036 1/13/2015 212 1/1 631 $458 0 $691,500 $1,096 12/3/2014 215 0/1 494 $429 0 $585,000 $1,184 12/3/2014 216 0/1 517 $434 0 $595,000 $1,151 12/3/2014 301 2/2 1,144 $638 1 $1,190,500 $1,041 12/3/2014 303 1/1 832 $565 1 $822,500 $989 12/3/2014 305 2/2 1,104 $655 1 $1,155,000 $1,046 12/3/2014 316 0/1 517 $434 0 $585,000 $1,132 12/3/2014 318 1/1 725 $542 1 $765,500 $1,056 12/3/2014 409 2/2 1,003 $602 1 $1,137,000 $1,134 12/3/2014 501 2/2 1,071 $617 1 $1,174,000 $1,096 12/3/2014 503 1/1 832 $565 1 $849,000 $1,020 12/3/2014 510 2/2 930 $589 1 $1,019,000 $1,096 12/3/2014 513 1/1 631 $458 0 $696,000 $1,103 12/3/2014 515 0/1 494 $429 0 $631,500 $1,278 12/3/2014 518 1/1 739 $545 1 $827,000 $1,119 12/3/2014

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DEVELOPMENT SNAPSHOT Recently Sold-Out

8 OCTAVIA

8 Octavia Street at Market | Hayes Valley Approximate absorption: 4 units/month, Average $/SqFt: $1,185 Project info: 47 units, 8-stories, Monthly HOA fee: $500 - $850, 7 BMRs, 24 parking spaces Date on market: June 2014 All units in-contract: May 2015 Developer: DM & DDG Architect: Stanley Saitowitz Landscape architect: Marta Fry Amenities: Roof terrace Features & Finishes: Louvered facade, SieMatic kitchen cabinetry, Corian counter tops, FSC certified wide-plank oak flooring, Visionline key-less entry, Virtual Doorman, Webpass, Nest Thermostats

CLOSING DETAILS

Unit Type SqFt HOA $ Parking Closing Price $/SqFt Closing Date 306 2/2 1,001 $657 1 $1,125,000 $1,124 6/11/2015 802 2/2 1,001 $657 1 $1,250,000 $1,249 5/28/2015 801 2/2 968 $649 1 $1,320,000 $1,364 5/22/2015 606 2/2 1,001 $656 0 $1,136,500 $1,135 5/13/2015 202 2/2 1,001 $656 0 $949,000 $948 4/30/2015 301 2/2.5 968 $649 0 $1,120,000 $1,157 4/29/2015 502 2/2 1,001 $657 1 $1,120,000 $1,119 4/29/2015 504 2/2 1,001 $657 1 $1,250,000 $1,249 4/29/2015 704 2/2 1,001 $657 1 $1,230,000 $1,229 4/24/2015 402 2/2 1,001 $657 1 $1,060,000 $1,059 4/16/2015 702 2/2 1,001 $657 1 $1,130,000 $1,129 4/9/2015 804 3/3 1,757 $840 1 $2,499,100 $1,422 3/26/2015 706 2/2 1,001 $656 1 $1,195,000 $1,194 3/25/2015 805 3/3 1,757 $840 1 $2,599,999 $1,480 3/13/2015 708 2/2 1,001 $656 1 $1,225,000 $1,224 2/27/2015 404 2/2 1,001 $657 0 $939,000 $938 2/18/2015 303 1/1 726 $590 0 $729,000 $1,004 1/6/2015 302 2/2 1,001 $657 0 $940,000 $939 10/21/2014 304 2/2 1,001 $657 0 $1,000,000 $999 10/21/2014 403 1/1 726 $590 0 $749,000 $1,032 10/21/2014 406 2/2 1,001 $657 1 $950,000 $949 10/21/2014 501 2/2.5 968 $649 1 $1,125,000 $1,162 10/21/2014 505 1/1 726 $590 0 $749,000 $1,032 10/21/2014 506 2/2 1,001 $657 1 $1,320,000 $1,319 10/21/2014 508 2/2 1,001 $657 1 $1,320,000 $1,319 10/21/2014 601 2/2.5 968 $649 1 $1,150,000 $1,188 10/21/2014 602 2/2 1,001 $657 0 $959,000 $958 10/21/2014 604 2/2 1,001 $657 1 $1,215,000 $1,214 10/21/2014 605 1/1 726 $590 0 $779,000 $1,073 10/21/2014 608 2/2 1,001 $657 1 $1,165,000 $1,164 10/21/2014 701 2/2.5 968 $649 1 $1,165,000 $1,204 10/21/2014 803 3/3 1,757 $840 1 $2,549,000 $1,451 10/21/2014 806 2/2.5 1,225 $711 1 $1,600,000 $1,306 10/21/2014

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DEVELOPMENT SNAPSHOT Recently Sold-Out

16th & BRYANT

2421-2425 16th Street at Bryant | Mission Average $/SqFt: $950 Date on market: January 2015 Project info: 12 units, 4-stories, 1 BMR, 12 parking spaces, Monthly HOA fee: $490 - $650 Finishes: Living areas with white oak hardwood floors, Patios with Eleganza quartzite pavers, Kitchens with Liebherr HCB 30 inch fully integrated refrigerator & freezer, Bertazzoni Master Series 30-inch 4-burner gas range Amenities: Bicycle storage

CLOSING DETAILS

Unit Number Type SqFt HOA $ Parking Closing Price $/SqFt Closing Date 402 2/2 1,158 $515 1 $1,185,000 $1,023 3/30/2015 301 2/2 1,024 $491 1 $1,005,000 $981 3/27/2015 303 2/2 1,133 $510 1 $1,149,000 $1,014 3/27/2015 302 2/2 1,157 $515 1 $1,099,000 $950 3/25/2015 2425 3/2.5 1,900 $648 1 $1,375,000 $724 3/24/2015 201 2/2.5 1,228 $526 1 $1,362,000 $1,109 3/20/2015 2423 3/2.5 1,891 $648 1 $1,331,000 $704 3/20/2015 202 2/2.5 1,208 $523 1 $1,299,000 $1,075 3/13/2015 401 2/2 1,021 $491 1 $1,200,000 $1,175 3/13/2015 404 2/2 1,022 $491 1 $1,105,000 $1,081 3/13/2015

TOWNHOMES ON THIRD

4132 3rd Street at Innes | Bayview Average $/SqFt: $684 Project info: 7 units, 4-stories, 7 parking spaces, Monthly HOA Fee: $570 - $590 Date on market: January 2015 All units in-contract: May 2015 Developer: Mutual Seiko Construction Architect: Alan Martinez Finishes: Quartz counter tops, Glass tile backsplash, Blanco and Hansgrohe fixtures, Wide-plank hardwood floors, Security systems

CLOSING DETAILS

Unit Number Type SqFt HOA $ Parking Closing Price $/SqFt Closing Date 5 2/2 1,314 $567 1 $910,000 $693 6/2/2015 4 3/2.5 1,391 $577 1 $899,000 $646 6/1/2015 2 3/2.5 1,391 $577 1 $929,000 $668 4/21/2015 6 2/2 1,432 $577 1 $1,000,000 $698 4/17/2015 3 3/2.5 1,391 $577 1 $929,000 $668 3/31/2015 7 2/2 1,391 $577 1 $1,030,000 $740 3/17/2015 1 3/2.5 1,391 $577 1 $935,000 $672 3/12/2015

PG.21 SAN FRANCISCO RESIDENTIAL DEVELOPMENT OCTOBER 2015 CLICK TO RETURN TO THE NAVIGATION PAGE

DEVELOPMENT SNAPSHOT Recently Sold-Out

AMERO

1501 Filbert Street at Van Ness | Cow Hollow Average $/SqFt: $1,366 Developer: Trumark Urban Architect: NC2 Studio Project info: 27 units, 0 BMRs, 7-stories, HOA: $560 - $765, Date on market: July 2014 Amenities: Roof terrace with BBQ/fireplace, lobby lounge, entry wa- ter feature, bicycle parking Features & Finishes: Studio Becker cabinetry, Haussmann stone bathroom counter tops and flooring, Bolyu bedroom carpeting, DuChateau wide-plank oak flooring, Domus & Domus cabinetry, Bertazzoni range ovens, Bosch microwaves & dishwashers, Thermador refrigerators, Kohler sinks, quartz counter tops

CLOSING DETAILS

Unit Type SqFt Parking Closing Price $/SqFt Closing Date Amero - TH1A 3/3.5 2,345 1 $2,495,000 $1,064 4/8/2015 Amero - PH7G 2/2 1,613 2 $3,475,000 $2,154 2/27/2015 Amero - TH5F 2/2.5 1,789 1 $2,485,000 $1,389 2/27/2015 Amero - PH7C 2/2 1,040 1 $1,648,000 $1,585 2/23/2015 Amero - PH7A 2/2 1,132 2 $1,575,000 $1,391 2/2/2015 Amero - 5C 2/2 1,130 1 $1,600,000 $1,416 1/30/2015 Amero - 5G 2/2 1,770 1 $2,500,000 $1,412 1/27/2015 Amero - 6C 2/2.5 1,130 1 $1,799,000 $1,592 1/2/2015 Amero - 5D 2/2.5 1,768 1 $2,575,000 $1,456 12/16/2014 Amero - PH7E 2/2.5 1,680 2 $3,550,000 $2,113 12/6/2014 Amero - 3C 2/2 1,130 1 $1,325,000 $1,173 11/25/2014 Amero - 6A 2/2 1,220 1 $1,464,000 $1,200 11/25/2014 Amero - 4C 2/2 1,130 1 $1,450,000 $1,283 11/24/2014 Amero - PH7D 2/2.5 1,562 2 $3,700,000 $2,369 11/24/2014 Amero - 3B 2/2 1,192 1 $1,239,000 $1,039 11/22/2014 Amero - 6B 2/2 1,192 1 $1,399,000 $1,174 11/22/2014 Amero - TH1B 3/3.5 2,470 1 $2,450,000 $992 11/22/2014 Amero - TH1C 3/3.5 2,570 1 $2,325,000 $905 11/22/2014 Amero - 3D 2/2.5 1,662 1 $1,850,000 $1,113 11/21/2014 Amero - 3A 2/2 1,222 1 $1,279,000 $1,047 11/15/2014 Amero - 4A 2/2 1,220 1 $1,345,000 $1,102 11/15/2014 Amero - 4B 2/2 1,192 1 $1,289,000 $1,081 11/13/2014 Amero - 5B 2/2 1,192 1 $1,340,000 $1,124 11/13/2014 Amero - 5A 2/2 1,220 1 $1,390,000 $1,139 11/9/2014 Amero - PH7F 2/2.5 1,634 2 $3,500,000 $2,142 10/13/2014

PG.22 SAN FRANCISCO RESIDENTIAL DEVELOPMENT OCTOBER 2015 CLICK TO RETURN TO THE NAVIGATION PAGE

DEVELOPMENT SNAPSHOT Recently Sold-Out

35 DOLORES

35 Dolores Street at Market | Mission Dolores Status: Approximate absorption: 6 units/month, Average $/SqFt: $1,215 Developer: Lightner Property Group Architect: Levy Design Part- ners Project info: 37 units, 4-stories, HOA: $300 - $425, Date on market: September 2014 Amenities: Courtyard, double-height lobby, guest studio, rear yard, bicycle storage, dog wash, car wash area, wiring for EV charging Finishes: Exterior louvers, fireplaces, Viking appliances, quartz counter tops, wide-plank oak flooring, porcelain tile bathroom floors, Maytag washer/dryers

CLOSING DETAILS

Unit Type SqFt Parking Closing Price $/SqFt Closing Date 35 Dolores - 402 2/2 1,133 1 $1,550,000 $1,368 3/31/2015 35 Dolores - 104 1/1 750 0 $895,000 $1,193 3/2/2015 35 Dolores - 105 1/1 670 0 $795,000 $1,187 2/26/2015 35 Dolores - 308 3/2 1,280 1 $1,610,000 $1,258 2/25/2015 35 Dolores - 101 2/2 1,175 1 $1,350,000 $1,149 2/19/2015 35 Dolores - 107 2/2 1,170 1 $1,495,000 $1,278 2/7/2015 35 Dolores - 206 2/2 1,188 1 $1,345,000 $1,132 2/7/2015 35 Dolores - 305 1/1 670 0 $745,000 $1,112 2/7/2015 35 Dolores - 406 2/2 1,186 1 $1,575,000 $1,328 2/7/2015 35 Dolores - 405 1/1 670 0 $800,000 $1,194 2/3/2015 35 Dolores - 201 2/2 1,152 1 $1,225,000 $1,063 1/31/2015 35 Dolores - 204 1/1 750 0 $790,000 $1,053 1/31/2015 35 Dolores - 306 2/2 1,186 1 $1,495,000 $1,261 1/31/2015 35 Dolores - 401 2/2 1,237 1 $1,495,000 $1,209 1/31/2015 35 Dolores - 404 1/1 755 1 $900,000 $1,192 1/31/2015 35 Dolores - 409 1/1 620 0 $739,000 $1,192 1/31/2015 35 Dolores - 205 1/1 665 0 $730,000 $1,098 1/30/2015 35 Dolores - 108 3/2 1,267 1 $1,695,000 $1,338 1/26/2015 35 Dolores - 106 2/2 1,170 1 $1,465,000 $1,252 1/24/2015 35 Dolores - 207 2/2 1,165 1 $1,295,000 $1,112 1/24/2015 35 Dolores - 208 3/2 1,280 1 $1,495,000 $1,168 1/24/2015 35 Dolores - 303 2/2 935 1 $1,145,000 $1,225 1/24/2015 35 Dolores - 304 1/1 755 0 $830,000 $1,099 1/24/2015 35 Dolores - 310 2/2 995 1 $1,295,000 $1,302 1/24/2015 35 Dolores - 403 2/2 935 1 $1,195,000 $1,278 1/24/2015 35 Dolores - 407 2/2 1,162 1 $1,625,000 $1,398 1/24/2015 35 Dolores - 408 3/2 1,280 1 $1,750,000 $1,367 1/24/2015 35 Dolores - 410 2/2 995 1 $1,395,000 $1,402 1/24/2015

PG.23 SAN FRANCISCO RESIDENTIAL DEVELOPMENT OCTOBER 2015 CLICK TO RETURN TO THE NAVIGATION PAGE

DEVELOPMENT SNAPSHOT Recently Sold-Out

THE SAN FRANCISCO SHIPYARD (1st Release)

11 Innes Court | Hunters Point Status: Average $/SqFt: $655, Approximate absorption: 10 units/ month Developer: Lennar Urban Date on market: June 2014 First closings: December 2014 Project info: 5-story condominium building (Merchant) & 25 townhomes (Olympia), Monthly HOA fee: $250 - $505, 9 BMRs Amenities: Community park, shuttle service, roof terrace (Merchant) Features & Finishes: Attached garages (Olympia), balconies & patios, Bay & City views, walk-in closets, Barbosa cabinetry, Bosch appliances, quartz and Corian counter tops, porcelain tile, sustainable Plyboo bamboo floors

CLOSING DETAILS

Unit Type SqFt HOA $ Parking Closing Price $/SqFt Closing Date 583 Donahue 2/2 1,012 $252 1 $755,500 $747 3/9/2015 200 Friedell 3/3 1,490 $367 1 $916,000 $615 1/13/2015 208 Friedell 2/2 992 $340 1 $646,500 $652 1/7/2015 216 Friedell 2/2 1,013 $342 1 $671,000 $662 1/7/2015 224 Friedell 2/2 1,013 $342 1 $643,000 $635 1/7/2015 232 Friedell 2/2 1,013 $342 1 $643,000 $635 1/7/2015 250 Friedell 2/2 1,013 $342 1 $671,000 $662 1/7/2015 268 Friedell 2/2 948 $340 2 $696,500 $735 1/7/2015 276 Friedell 2/2 948 $340 2 $721,000 $761 1/7/2015 284 Friedell 3/2 1,426 $363 2 $861,000 $604 1/7/2015 292 Friedell 3/2 1,426 $363 2 $888,500 $623 1/7/2015 298 Friedell 3/2 1,418 $363 2 $900,500 $635 1/7/2015 593 Donahue 3/2 1,426 $363 2 $881,000 $618 1/7/2015 599 Donahue 3/2.5 1,418 $363 2 $908,500 $641 1/7/2015 501 Donahue 3/3 1,587 $267 1 $920,500 $580 1/6/2015 507 Donahue 2/2 1,172 $256 1 $659,000 $562 1/6/2015 517 Donahue 2/2 1,172 $256 1 $703,000 $600 1/6/2015 527 Donahue 2/2 1,055 $252 2 $680,500 $645 1/6/2015 537 Donahue 2/2 1,055 $252 2 $717,000 $680 1/6/2015 553 Donahue 2/2 1,013 $342 1 $671,000 $662 1/6/2015 563 Donahue 2/2 1,013 $342 1 $656,000 $648 1/6/2015 573 Donahue 2/2 1,024 $252 1 $667,500 $652 1/6/2015

UNIT MIX & PRICING SUMMARY

Number of Unit Type Units Size Range Price Range Studio 1 457 SqFt - 1 - Bedroom Condominium 29 595 - 744 SqFt $450K - $500K 2 - Bedroom Condominium 32 921 - 1,027 SqFt $550K - $750K 3 - Bedroom Condominium 1 1,158 SqFt $675K 2 - Bedroom Townhome 18 948 - 1,172 SqFt $650K - $725K 3 - Bedroom Townhome 7 1,418 - 1,587 SqFt $850K - $925K

PG.24 SAN FRANCISCO RESIDENTIAL DEVELOPMENT OCTOBER 2015 CLICK TO RETURN TO THE NAVIGATION PAGE

DEVELOPMENT SNAPSHOT Recently Sold-Out

ARDEN

718 & 738 Long Bridge Street at 4th | Mission Bay Status: Approximate absorption: 65 units/month, All units in contract: September 2014, Average $/SqFt: $1,135 Developer: Bosa Development; Architect: Chris Dikeakos Project info: 267 units, 0 BMRs, 16-stories, Monthly HOA fee: $775 - $1,175 Date on market: June 2014 Closings anticipated: Novem- ber 2015 Amenities: Attended lobbies, 75’ lap pool, spa, fitness center with changing rooms, resident’s lounge with kitch- en/billiards, numerous terraces, BBQ, library, electric car share, workshop, pet grooming facility, common area WIFI and USB ports, storage Features and Finishes: Hardwood floors, Whirlpool wash- er/dryers, walk-in closets, solid core interior doors, USB and fiber optic wiring, Caesarstone counter tops, Therma- dor appliances, Grohe plumbing fixtures

UNIT MIX & PRICING SUMMARY

Number of Unit Type Units Size Range Price Range 1 - Bedroom 17 732 - 1,168 SqFt $775K - $1M 2 - Bedroom 205 995 - 1,436 SqFt $1M - $1.8M 3 - Bedroom 45 1,611 - 2,044 SqFt $1.5M - $2.5M

PG.25 SAN FRANCISCO RESIDENTIAL DEVELOPMENT OCTOBER 2015 CLICK TO RETURN TO THE NAVIGATION PAGE

DEVELOPMENT SNAPSHOT Resale

MILLENNIUM TOWER

301 Mission Street at Fremont | SOMA Average $/SqFt (last 6 months): $1,853 Developer: Millennium Partners Architect: Handel Architects Project info: 419 units, 58-story high-rise & 11-story mid-rise, Monthly HOA fee: $450 - $1,750 (additional parking fee: $200) Date on market: November 2007 Sold-out: April 2013 Amenities: Concierge, resident’s lounge, tasting room and cellar, private dining room, screening room, children’s playroom, outdoor terrace, 5,500 square- foot fitness center with Pilates/yoga studios/massage service/locker rooms/spa room/steam room/75-foot indoor lap pool Finishes: Hardwood floors, Studio Becker cabinetry, marble/quartzite counter tops, Sub-Zero/Wolfe/Miele/ GE/Bosch/U-Line appliances

CLOSING DETAILS

Unit Type SqFt HOA $ Parking Closing Price $/SqFt Closing Date 18C 1/1 833 $1,157 0 $1,218,000 $1,462 9/14/2015 38F 3/2 1,601 $1,755 1 $2,450,000 $1,530 7/31/2015 51C 2/2.5 2,819 $2,019 2 $7,495,000 $2,659 6/8/2015 32D 2/3 1,952 $1,893 1 $4,000,000 $2,049 6/1/2015 301 2/2 2,280 $1,986 1 $3,600,000 $1,579 5/12/2015 9J 2/2 1,127 $1,151 0 $1,500,000 $1,331 4/17/2015 5E 2/2 1,136 $1,204 0 $1,500,000 $1,320 4/10/2015

PG.26 SAN FRANCISCO RESIDENTIAL DEVELOPMENT OCTOBER 2015 CLICK TO RETURN TO THE NAVIGATION PAGE

DEVELOPMENT SNAPSHOT Resale

ONE RINCON HILL (1st tower)

425 1st Street at Harrison | SOMA Average $/SqFt (last 6 months): $1,418 Developer: Urban West Associates Architect: SCB Project info: 376 units, 60-stories, Monthly HOA fee: $650 - $1,000 Date on market: January 2006 Sold-out: November 2012 Finishes: Hardwood floors, Del Tongo cabinetry, Sub- Zero refrigerators, Bosch appliances Amenities: 24-hour doorman, concierge, high-speed Internet access, fitness center, resident’s lounge with catering kitchen, valet parking, full-size swimming pool, outdoor kitchen, outdoor fireplace

CLOSING DETAILS

Unit Type SqFt HOA $ Parking Closing Price $/SqFt Closing Date 5005 1/1 710 $808 1 $1,050,000 $1,479 8/25/2015 906 2/2 1,238 $910 1 $1,380,000 $1,115 8/25/2015 2702 2/2 1,309 $878 1 $2,050,000 $1,566 7/23/2015 807 1/1 819 $821 1 $1,025,000 $1,252 6/24/2015 1307 1/1 819 $821 1 $1,050,000 $1,282 6/19/2015 4302 2/2 1,309 $885 1 $2,338,000 $1,786 6/15/2015 2501 1/1 837 $823 1 $1,139,000 $1,361 6/12/2015 4908 1/1 755 $803 1 $1,200,000 $1,589 6/12/2015 3103 2/2 1,328 $880 1 $1,968,000 $1,482 5/29/2015 5103 2/2 1,328 $880 1 $2,600,000 $1,958 5/29/2015 1803 2/2 1,278 $874 1 $1,565,000 $1,225 4/30/2015 2904 3/3 1,947 $957 1 $2,950,000 $1,515 4/28/2015 404 3/2.5 2,354 $1,000 1 $2,400,000 $1,020 4/24/2015

PG.27 SAN FRANCISCO RESIDENTIAL DEVELOPMENT OCTOBER 2015 CLICK TO RETURN TO THE NAVIGATION PAGE

DEVELOPMENT SNAPSHOT Resale

THE INFINITY

301 & 333 Main Street, 318 & 338 Spear Street | South Beach Average $/SqFt (last 6 months): $1,506 Developer: Tishman Speyer Architect: Heller Manus/Bernardo Fort-Brescia of Arquitectonica Project info: 650 units, one 37- and one 42-story high rise, one 8- and one 9-story podium Date on market: June 2006 Sold-out: March 2011 Finishes: Granite counter tops, Studio Becker cabinetry, Watermark and Kohler fixtures, Bosch appliances, Bamboo flooring Amenities: Attended lobbies with concierge services, courtyards, 5,000 square foot fitness center, 75-foot indoor lap pool, sauna, resi- dent’s lounge with catering kitchen, business center, screening room

CLOSING DETAILS

Unit Type SqFt HOA $ Parking Closing Price $/SqFt Closing Date 31E 2/2 1,340 $907 1 $2,499,000 $1,865 10/2/2015 IT4H 1/1 836 $843 1 $959,000 $1,147 9/23/2015 30F 2/2 1,323 $905 1 $2,250,000 $1,701 8/21/2015 16C 1/1 809 $838 1 $1,300,000 $1,607 8/19/2015 4L 1/1 798 $838 1 $933,000 $1,169 8/18/2015 42A 2/2 n/a $899 1 $3,550,000 n/a 8/3/2015 26G 1/1 807 $838 1 $1,175,000 $1,456 7/16/2015 T25E 2/2 1,180 $885 1 $1,750,000 $1,483 7/16/2015 21G 1/1 807 $838 1 $1,125,000 $1,394 5/21/2015 IT3A 2/2 1,159 $883 1 $1,275,000 $1,100 5/6/2015 IT4G 0/1 538 $805 1 $753,000 $1,400 5/6/2015 T26D 2/2 1,317 $903 1 $2,420,000 $1,838 4/7/2015

PG.28 SAN FRANCISCO RESIDENTIAL DEVELOPMENT OCTOBER 2015 CLICK TO RETURN TO THE NAVIGATION PAGE

DEVELOPMENT SNAPSHOT Resale

ONE HAWTHORNE

1 Hawthorne Street at Howard | SOMA Average $/SqFt (last 6 months): $1,288 Developer: Jackson Pacific Ventures Architect: EHDD Project info: 165 units, 25-stories, Monthly HOA fee: $500 - $750 (addition- al parking/valet fee: $300) Date on market: January 2010 Sold-out: May 2013 Finishes: Quartz and limestone counter tops, Hardwood floors, Studio Becker cabinetry, Bosch appliances Amenities: Fitness center, Roof terrace with BBQ, Attended lobby

CLOSING DETAILS

Unit Number Type SqFt HOA $ Parking Closing Price $/SqFt Closing Date 15C 2/2 1,313 $723 1 $1,725,000 $1,314 9/8/2015 20G 1/1 950 $667 1 $1,250,000 $1,316 7/31/2015 9C 2/2 1,298 $671 1 $1,725,000 $1,329 4/15/2015 3E 1/1 824 $602 1 $949,000 $1,152 4/10/2015

THE HAYES

55 Page Street at Gough | Hayes Valley Average $/SqFt (last 6 months): $1,377 Developer: Intracorp Architect: Heller Manus Project info: 128 units, 8-stories, Monthly HOA fee: $300 - $600 (ad- ditional parking fee: $100) Finishes: Studio Becker cabinetry, Granite counter tops, Bamboo flooring Amenities: Attended lobby, Fitness center, Roof terrace

CLOSING DETAILS

Unit Number Type SqFt HOA $ Parking Closing Price $/SqFt Closing Date 418 0/1 401 $327 1 $595,000 $1,484 9/4/2015 324 0/1 438 $334 1 $695,000 $1,587 9/1/2015 621 0/1 404 $328 1 $610,000 $1,510 7/17/2015 811 1/1 646 $473 1 $925,000 $1,432 6/2/2015 824 2/2 1,023 $544 1 $1,367,000 $1,336 5/8/2015 726 2/2 1,023 $544 1 $1,225,000 $1,197 4/10/2015

PG.29 SAN FRANCISCO RESIDENTIAL DEVELOPMENT OCTOBER 2015 CLICK TO RETURN TO THE NAVIGATION PAGE UPCOMING CONDOMINIUM DEVELOPMENTS

Sales Development Developer / Owner Area Units Commence

2655 Bush Street at Divisadero KB Home Lower Pac Heights 81 Q4 2015

1001 17th Street at Pennsylvania 1001 17th Street Associates Potrero Hill 26 Q4 2015

1868 Van Ness Avenue at Sacramento N/A Van Ness Corridor 35 Q4 2015

450 Hayes Street at Gough DDG/DM Hayes Valley 41 Q4 2015

Pacific - 2155 Webster Street at Sacramento Trumark Urban Pacific Heights 76 Q1/Q2 2016

1450 Franklin Street at Bush Village Properties Western Addition 67 Q1 2016

One Rincon Hill II - 401 Harrison Street Rockpoint/Maximus Rincon Hill 298 Q1 2016

3420 18th Street at San Carlos N/A Mission 16 Q1 2016

1050 Valencia Street at Hill N/A Mission 12 Q1 2016

388 Fulton Street at Franklin 7x7 Development Hayes Valley 61 Q1 2016

Rowan - 346 Potrero Avenue at 16th Trumark Urban Potrero Hill 70 Q1 2016

580 Hayes Street at Laguna Laguna Hayes LLC Hayes Valley 29 Q1 2016

One Mission Bay - 1000 Channel Street at 3rd CIM Group Mission Bay 350 Q1 2016

1 Franklin Street at Market JS Sullivan Hayes Valley 35 Q2 2016

181 Fremont Street at Howard Jay Paul Company Transbay 67 Q2 2016

832 Sutter Street at Jones N/A Lower Nob Hill 20 Q2 2016

Knox - 645 Texas Street at 22nd Trumark Urban Potrero Hill 91 Q3 2016

Tower at Nob Hill - 1545 Pine Street at Van Ness Pacific Eagle Holdings Nob Hill 103 Q3 2016

5800 Third Street - Phase II Holliday Development Bayview 136 Q4 2016

1450 15th Street at Shotwell 10 South Shore LLC Mission 23 Q4 2016

690 Page Street at Steiner Page Steiner Associates Lower Haight 12 Q4 2016

1 franklin

1001 17th the pacific

PG.30 SAN FRANCISCO RESIDENTIAL DEVELOPMENT OCTOBER 2015 CLICK TO RETURN TO THE NAVIGATION PAGE UPCOMING APARTMENT DEVELOPMENTS

Development Developer / Owner Area Units Leasing Commences

Alta Laguna - 55 Laguna Street at Market Wood Partners Hayes Valley 280 Q4 2015

101 Polk Street at Hayes Emerald Fund Mid-Market 162 Q4 2015

1415 Mission Street at 10th Behringer Harvard South of Market 117 Q4 2015

Solaire - 299 Fremont Street at Folsom Golub and Company Transbay 472 Q4 2015

Potrero 1010 - 1000 16th Street at Missouri Equity Residential Potrero Hill 453 Q4 2015

350 8th Street at Harrison AIG Global/Associated South of Market 408 Q4 2015

1601 Larkin Street at Clay John McInerney Nob Hill 27 Q1 2016

480 Potrero Avenue at Mariposa SST Investments LLC Mission 84 Q1 2016

280 Brighton Avenue at Ocean Avenue n/a Ingleside 27 Q1 2016

340 Fremont Street at Folsom Equity Residential South of Market 332 Q1 2016

399 Fremont Street at Harrison UDR/MetLife South of Market 447 Q1 2016

2198 Market Street at Sanchez Greystar Upper Market 87 Q1 2016

Eviva - 360 Berry Street at 5th Integral Group/Argosy RE Mission Bay 129 Q2 2016

650 Indiana Street at 19th Build Inc. Dogpatch 111 Q2 2016

1 Henry Adams at Division Equity Residential South of Market 241 Q4 2016

1201 Tennessee Street at 22nd AGI/Avant Housing Dogpatch 259 Q1 2017

855 Brannan Street at 8th Equity Residential South of Market 432 Q1 2017

Trinity Place III - 1169 Market Street at 8th Trinity Properties South of Market 541 Q1 2017

41 Tehama Street at 1st Hines/Invesco South of Market 407 Q3 2017

solaire

650 indiana

855 brannan

PG.31 SAN FRANCISCO RESIDENTIAL DEVELOPMENT OCTOBER 2015 CLICK TO RETURN TO THE NAVIGATION PAGE RESIDENTIAL PIPELINE SUMMARY

APPROVED, UNDER REVIEW AND CONCEPTUAL Area Approved Under Review Conceptual Bayview/Hunters Point/Candlestick Point 12,600 1,479 2,940 Dogpatch 2,249 923 0 Hayes Valley 116 503 24 Mid-Market 141 2,697 596 Mission 167 1,996 159 Mission Bay 170 1,642 0 Northern Neighborhoods 354 1,737 160 Potrero Hill 56 1,379 323 South of Market 1,955 5,026 953 Southern Neighborhoods 1,704 1,206 334 Transbay 1,069 833 0 Treasure Island 8,619 0 0 Upper Market 24 233 0 Van Ness Corridor 0 1,674 41 Western Neighborhoods 9,007 640 750 Totals 38,231 21,968 6,280 Month-Over-Month Change +0.5% +2.4% +1.0%

UNDER CONSTRUCTION (BY PRODUCT TYPE) Pre-selling Area Condominiums Apartments All Types Condominiums Bayview/Hunters Point/Candlestick Point 159 0 0 159 Dogpatch 0 0 370 370 Hayes Valley 139 166 280 585 Mid-Market 0 0 162 162 Mission 0 51 84 135 Mission Bay 0 350 129 479 Northern Neighborhoods* 294 394 0 688 Potrero Hill 0 187 453 640 South of Market 730 0 2,518 3,248 Southern Neighborhoods* 0 0 27 27 Transbay 0 67 472 539 Upper Market 0 0 87 87 Van Ness Corridor 0 0 0 0 Totals 1,322 1,215 4,582 7,119 Month-Over-Month Change -2.5% +1.2% -3.6% -2.6%

* Northern Neighborhoods covers Cathedral Hill, Western Addition, Pacific Heights, Nob Hill, Lower Nob Hill, Tenderloin, Financial District, Russian Hill, Telegraph Hill, North Beach & Marina/Cow Hollow Southern Neighborhoods covers Oceanview, Glen Park, Ingleside, Mission Terrace, Outer Mission, Visitacion Valley. Western Neighborhoods covers Park Merced, Parkside, Forest Knolls, Richmond, Sunset, Laurel Heights. The Pipeline Summary includes Below Market Rate units.

PG.32 SAN FRANCISCO RESIDENTIAL DEVELOPMENT OCTOBER 2015 CLICK TO RETURN TO THE NAVIGATION PAGE PROJECTED AND HISTORICAL SUPPLY

PROJECTED SUPPLY

The pipeline for condominiums under construction continues to consist of smaller projects, with the majority of projects under 100 units, and the average size being 75 units. There are nearly 2,500 condominiums under construction, and nearly half of the units are currently being pre-sold. Absorption levels average 15 units/month, and vary widely depending on the size of the project.

Projected New Construction Supply With over 4,500 2,500 apartments under 2,182 construction, supply 2,000 2,014 should remain robust 1,500 into next year. Supply 1,417 1,232 levels are expected

Units 1,152 1,000 885 935 to dwindle by the 687 782 fourth quarter of 2016. 500 475 416 However, a boost of 258 124 0 91 1,200 units in Q1 2017 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 will reinvigorate the market. New Condominiums New Apartments

* Includes Below Market Rate Units, which are part of Market Rate Projects

HISTORICAL SUPPLY

Under current zoning, the City estimates that more than 47,000 units can be built on in-fill sites, and nearly 23,000 units can be built in redevelopment areas such as Treasure Island and Hunter’s Point. Over half of the in-fill units can be accommodated in neighborhood commercial and mixed-use districts, while about 30% could be accommodated in residential districts. The proposed Affordable Housing Bonus Program would significantlyincrease the potential number of in-fill units in mixed-use districts.

Historical Supply

4,000 3,454 3,500 3,366 3,019 3,000 2,730

2,330 2,500 2,260 2,197

2,000 1,859 1,780 1,872 1,619 1,675 1,670 1,500 1,225 1,082 New Units Produced 909 906 909 1,000 794 532 500 348

0 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015*

* Through Q2 2015; Figures include Below Market Rate Units

PG.33 SAN FRANCISCO RESIDENTIAL DEVELOPMENT OCTOBER 2015 CLICK TO RETURN TO THE NAVIGATION PAGE ABOUT VANGUARD PROPERTIES DEVELOPER SERVICES Vanguard Properties expertly guides low- to high-density residential developers. Core consulting services include Research, Land Acquisition, Design, Branding, Promotion, Sales Strategy and Risk Management. From concept to close-out, Vanguard leads the way to successful development. For a full Scope of Services, visit VanguardSF.com

For Developer Services, contact: FRANK NOLAN JAMES NUNEMACHER VP, Director of Development CEO, Founding Partner 415.377.3726 415.519.7772 [email protected] [email protected]

For additional market reporting, contact: JONATHAN MOFTAKHAR Development Director 415.920.3731 [email protected]

VANGUARD PROPERTIES REPORT DISCLAIMER Data and image sources for this Report include but are not limited to SFAR MLS, the San Francisco Planning De- partment, development marketing websites and industry news/information outlets. The information in this Report is subject to errors, as it is compiled from multiple sources, with varying degrees of accuracy and currency. This Report should not be reproduced or distributed, in whole or in part, without the prior written consent of Vanguard Proper- ties. The statements in this Report, which are not historical facts, are projections or estimates based on Vanguard Properties’ opinions and expectations of future market performance. Although the information presented is believed to be correct, no representation is made by Vanguard Properties as to the accuracy or completeness of the informa- tion. The information presented may be subject to updating, revision or verification, and such information may change in a material nature. This is not an offer to rent or sell property, and is intended for information purposes only. This Report should not be relied upon or utilized in making investment decisions. ©2015 Vanguard Properties, All rights reserved. BRE License No. 01486075. Equal Housing Opportunity

PG.34 SAN FRANCISCO RESIDENTIAL DEVELOPMENT OCTOBER 2015