THE POLARIS PACIFIC REPORT San Francisco Condominium Market
SEPTEMBER 2016
MLS DISTRICT 1-10
SAN FRANCISCO / LOS ANGELES / SAN DIEGO / OAKLAND-EMERYVILLE / SILICON VALLEY / SEATTLE / PHOENIX MARKET SNAPSHOT SAN FRANCISCO | SEPTEMBER 2016
LOW-RISE BUILDING MID-RISE BUILDING HIGH-RISE BUILDING 4 STORIES OR LESS 5-12 STORIES 13 STORIES OR MORE
PRICE PER SQ. FT. PRICE PER SQ. FT. PRICE PER SQ. FT. $1,198 $1,303 $1,522 ANNUAL CHANGE ANNUAL CHANGE ANNUAL CHANGE +0.9% -0.4% +5.7%
MACRO TRENDS
CONDO INVENTORY CONDO SALES & MEDIAN PRICE MULTI-FAMILY COMPLETIONS BY TYPE BY TYPE BY BUILDING TYPE
915 202 971 NEW NEW NEW CONDOS 3.1 CONDOS $1,095K CONDOS 2,611 MONTHS OF MEDIAN 2015 RESALE RESALE MULTI-FAMILY INVENTORY PRICE 751 DELIVERIES 1,640 771 RESALES NEW RESALES APTS
ABOUT POLARIS PACIFIC Polaris Pacifi c is a new-condominium brokerage and advisory fi rm renowned for its grasp and insight into market trends and buyer sentiment in the major urban markets of the West Coast, and its ability to capitalize upon this information to generate sales performance. We produce monthly reports on six major urban markets on the West Coast—San Francisco, Los Angeles, Silicon Valley, Oakland-Emeryville, San Diego, Seattle and Phoenix —that provide timely insight into the performance of new and existing condominiums in these regions. We also generate comprehensive custom reports for specifi c multi-family development sites, including pricing and rental models, fl oorplan critique services, demographic analysis, and future supply projections by submarket at the request of developers and fi nancial institutions.
If you’re interested in further market intelligence, please contact Miles Garber at (415) 361-4805 or mgarber@polarispacifi c.com.
Source: SFARMLS, Polaris Pacifi c. Data from sources may be subject to errors, omissions and revisions. PSF Figures are for buildings built after 2004, infl ated to account for new construction premium. The fi gures cover the six-month periods ending 8/31/2015 and 8/31/2016.
MARKET SNAPSHOT SAN FRANCISCO, JULY 2014 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 3
TABLE OF CONTENTS
1 MARKET OVERVIEW
MARKET INSIGHTS DEMAND CONDITIONS SUPPLY CONDITIONS DISTRICTS
8 CURRENTLY SELLING
25 SOLD OUT
2016 RESALE DEVELOPMENTS PAST RESALE DEVELOPMENTS
86 ABOUT POLARIS PACIFIC
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 1
Annual Price and Sales Changes by District The maps below (Figures 1 & 2) show annual percentage changes in median price per square foot and total sales by district. While most districts in San Francisco experienced positive median price growth over the past year, the most notable year-over-year price increases occurred in District 10 (+8.4%).
FIG 1. ANNUAL PRICE PSF CHANGE MAP FIG 2. ANNUAL SALES CHANGE MAP
7 8 7 8 +1.1% +0.4% -3.1% -34.7%
1 6 1 6 +7.7% -0.6% +2.8% +18.9%
9 9 5 -3.9% 5 -14.8% 2 +0.4% 2 -5.3% +6.9% -37.5% 4 4 +2.7% -54.5%
3 10 3 10 +4.3% +5.6% -27.3% -12.5%
Annual Price PSF Change Map Annual Sales Change Map Year-over-year change in median PSF in each district Year-over-year change in total resales in each district of the city, for Jun 2016 - Aug 2016: of the city, for Jun 2016 - Aug 2016: (Source: Realquest) (Source: Realquest) -30% -15% No Change +15% +30% -30% -15% No Change +15% +30%
Current Prices and Sales by District Figure 3 shows a box-and-whisker plot of sales prices by district during the three-month period ending August 31, 2016, with wider boxes indicating more sales. As shown below, District 7 had the highest median price ($1,325,000), while District 10 had the lowest ($610,000). District 9 experienced the most sales during this period (207 sales).
FIG 3. SALES BY DISTRICT
$2,800k $2,600k $2,400k $2,200k $2,000k $1,800k $1,600k $1,400k $1,200k Sale Price $1,000k $800k $600k $400k $200k
1 − 45678910
Source: Realquest District
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 2
Historical Prices and Sales During the three-month period ending August 31, the median price increased 4.3 percent from the prior year to $1,095,000. At the same time, there were 751 total resales, a 2.5 percent decrease from the prior year. Since March 2015, the median price has surpassed the $1,000,000 mark.
FIG 4. MEDIAN PRICE AND RESALES
$1200k 400 Resales Median Price $1100k $1000k 300 $900k $800k $700k 200 $600k $500k $400k 100 $300k $200k $100k 0 $0k
2000 2002 2004 2006 2008 2010 2012 2014 2016
Source: SFARMLS Year
Cash and Investor Buyers Figure 5 provides an historical trend of all-cash and investor buyers in San Francisco since 2000. For the three months ending August 31, all-cash transactions represented 26.1 percent of sales, a decrease from 29.5 percent the same time last year; investor buyers represented 22.5 percent of buyers, a decrease from 25.6 percent the same time last year.
FIG 5. PERCENT OF CASH AND INVESTOR BUYERS
50% Investor Buyer Cash Buyer 40%
30%
20%
10%
0%
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Source: Realquest Year
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 3
Historical Average Market Time (Monthly Trend) The average days on market (DOM) figure is calculated as the amount of time between the date a home is listed for sale and the date it goes into escrow. The 60-day benchmark signifies a balanced market (the dotted line in Figure 6). As shown in Figure 6, the average DOM figure was 40 days in the three-month period ending August 31.
FIG 6. AVERAGE SOLD MARKET TIME (MONTHLY)
100
80
60
40 Number of Days 20
0
2008 2009 2010 2011 2012 2013 2014 2015 2016
Source: SFARMLS Year
Historical Average Market Time (Annual Trend) Figure 7 shows the average DOM figure at the end of each year going back to 2000 (the 2016 figure is year-to-date). Since 2012, the average DOM figure has been below 60 days.
FIG 7. AVERAGE SOLD MARKET TIME (ANNUAL)
80
60
40 Number of Days 20
0
2000 2002 2004 2006 2008 2010 2012 2014 2016
Source: SFARMLS Year
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 4
Months of Remaining Inventory (Monthly Trend) The months of remaining inventory figure, or MRI figure, indicates how many months it would take to absorb current supply. Six months is considered a balanced market, while nine months or more is considered an oversupplied market. Figure 8 shows a three-month moving average of the figure going back to 2008. As shown, the MRI figure has remained below the six-month benchmark since 2012. The most recent figure was 3.1 months.
FIG 8. MONTHS OF REMAINING INVENTORY
14
12
10
8
6
4 Number of Months
2
0
2008 2009 2010 2011 2012 2013 2014 2015 2016
Source: SFARMLS Ye a r
Months of Remaining Inventory (Annual Trend) Figure 9 shows the MRI figure at the end of each year (the 2015 figure is year-to-date). As shown, the MRI figure decreased each year from 2010 through 2015 and has been indicative of a seller’s market since 2011.
FIG 9. AVERAGE MONTHS OF REMAINING INVENTORY
7
6
5
4
3
2 Number of Months
1
0
2008 2009 2010 2011 2012 2013 2014 2015 2016
Source: SFARMLS Year
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 5
Active Condominium Inventory Figure 10 shows the inventory of unsold new condominiums (red) and active resale listings (dark gray) in San Francisco for the month of September for each year since 2011. Currently, there are 915 unsold new condominiums on the market.
FIG 10. CONDOMINIUM INVENTORY COMPOSITION
Number of Units Available 1,500 New Construction Resales
1,000
Total Units Total 500
0 2012 2013 2014 2015 2016 Ye a r Source: SFARMLS, Polaris Pacific
Annual Multi-Family Completions Figure 11 shows total annual multi-family completions of both apartments and condominiums in San Francisco. The peak year for condominium completions was 2008, when 2,069 new units were delivered to the market. In 2015, there were 1,640 apartments units completed and 971 condominium units completed.
FIG 11. TOTAL ANNUAL MULTI-FAMILY COMPLETIONS
2,000 Apartments Condos
1,500
1,000 Units
500
0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Source: Polaris Pacific Year
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 6
Future Condominium Supply by District Figures 12 and 13 show the number of new condominiums currently under construction and entitled by district. There are 2,261 new condominiums currently under construction in San Francisco. 350 units are Mission Bay Block One, which began construction in 2015. In addition, a sizeable number of condominium projects were entitled and could begin construction in the near future (see Districts 9 and 10 in Figure 13).
FIG 12. CONDOMINIUMS UNDER CONSTRUCTION FIG 13. CONDOMINIUMS APPROVED
7 8 7 8 104 588 27 360
1 6 1 6 0 354 39 161
9 9 5 1,131 5 1,582 2 0 2 73 56 0 4 4 0 29
3 10 3 10 28 0 0 3,732
Map of Market Map of Market Number of Units: 2,261 Number of Units: 6,003 (Source: Polaris Pacific) (Source: Polaris Pacific)
0 300 1,000 0 300 1,000
Future Apartment Supply by District Figures 14 and 15 show future supply of apartments by district. Displayed below, the majority of apartments under construction or entitled are concentrated in District 9.
FIG 14. APARTMENTS UNDER CONSTRUCTION FIG 15. APARTMENTS APPROVED
7 8 7 8 0 455 21 535
1 6 1 6 0 0 23 137
9 9 5 4,247 5 4,818 2 87 2 60 0 0 4 4 0 0
3 10 3 10 0 136 1,668 61
Map of Market Map of Market Number of Units: 4,925 Number of Units: 7,323 (Source: Polaris Pacific) (Source: Polaris Pacific)
0 300 1,000 0 300 1,000
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 7
DISTRICT 1 Inner Richmond, Laurel Heights, Outer DISTRICT 7 Cow Hollow, Marina, Pacific Heights Richmond DISTRICT 8 Downtown, Financial District, Nob Hill, North Beach, DISTRICT 2 Inner Sunset, Golden Gate Heights, Outer Sunset North Waterfront, Russian Hill, Telegraph Hill, Tenderloin, Van Ness / Civic Center DISTRICT 3 Ingleside, Lakeside, Oceanview, Stonestown DISTRICT 9 South of Market, South Beach, Yerba Buena, Rincon Hill, Mission Bay, Potrero Hill, Inner Mission, DISTRICT 4 Diamond Heights, Forest Hill, Midtown Terrace, West Portal Dogpatch, Bernal Heights
Bayview, Candlestick Point, Excelsior, Hunters DISTRICT 5 Corona Heights, Duboce Triangle, Eureka, Glen DISTRICT 10 Park, Mission Dolores, Noe Valley Point, Little Hollywood, Mission Terrace, Outer Mission, Portola, Silver Terrace, Visitacion Valley DISTRICT 6 Alamo Square, Hayes Valley, North Panhandle, Lower Pacific Heights, Western Addition
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 8
CURRENTLY SELLING DEVELOPMENTS
One Mission Bay
The Harrison
Rockwell
Summit 800
Fulton 555
Alma & Engel
The District
The Pacific
72 Townsend
388 Fulton
181 Fremont Residences
450 Hayes Number of Units Available One Franklin Units Available Units Closed Luxe Units in Contract 6 Mint
0 100 200 300 Total Units
NEW CONDOMINIUMS NOW SELLING
CURRENT LAST MONTH LAST YEAR PERFORMANCE
TOTAL PROJECTS 15 15 10
TOTAL UNITS 1,834 1,834 912
TOTAL UNSOLD UNITS 915 965 351
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 9
DISTRICT 9 LUMINA 201 FOLSOM ST
DESCRIPTION High-rise, luxury living soaring above the San Francisco Bay, LUMINA presents 656 modern residences with world-class amenities. Located at Main and Folsom Streets, where SOMA meets the Embarcadero, LUMINA will feature stunning design and breathtaking views.
AMENITIES CURRENT STATUS PROJECT INFORMATION • Rooftop terrace Date on Market: Sep ‘14 Developer: Tishman Speyer • Club lounge First Close of Escrow: N/A Submarket: South Beach • Private dining room In Contract: Confi dential Number of Homes: 656 • Fitness center Closed: 0 HOA*: $930-$1,350/mo. • Screening room Avg. Monthly Absorption: N/A • Pool & spa • Library lounge • Children’s room • Music practice room • Pet grooming station UNIT MIX & LIST PRICE SUMMARY
FINISHES TYPE #UNITS SIZE SF PRICE RANGES PRICE P.S.F. • Gaggenau ovens & cooktops STUDIO 15 580 - 972 • Gaggenau refrigerators & dishwashers with integrated 1-BED 203 852 - 947 CONFIDENTIAL paneling 2-BED 371 1,178 - 1,572
• Premium Ceasarstone quartz 3-BED 67 1,771 - 2,690 countertops & backsplashes • Custom SieMatic cabinetry with aluminum recessed channel pulls CLOSED NEW SALES SUMMARY • SieMatic vanity cabinets with Volakas marble countertops TYPE #SALES AVG SF PRICE RANGES AVG PRICE PRICE P.S.F. AVG P.S.F • European porcelain tile on bathroom fl oors and shower walls ------• Expansive glass curtain wall with ------balconies / patios in select units ------• NEST learning thermostats
* HOA INCLUDES VALET PARKING
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 10
DISTRICT 9 ONE MISSION BAY 1000 CHANNEL ST
DESCRIPTION One Mission Bay features 350 luxury condominiums with extensive amenities surrounded by a waterfront, green parks and bike paths. One Mission Bay offers artful interior design with natural materials.
AMENITIES CURRENT STATUS PROJECT INFORMATION • Resort style deck Date on Market: Apr ‘16 Developer: CIM Group • Pool, spa, cabanas & fi re pit First Close of Escrow: N/A Submarket: Mission Bay • 650’ waterfront In Contract: 105 Number of Homes: 350 • Resident lounge Closed: 0 HOA: $622-$825/mo. • Library Avg. Monthly Absorption: 20.6 Units
FINISHES • Gaggenau oven • Gas range • Refrigerator & dishwasher UNIT MIX & LIST PRICE SUMMARY • Kohler faucets TYPE #UNITS SIZE SF PRICE RANGES PRICE P.S.F. • Wood fl ooring & cabinetry • Air conditioning STUDIO 22 487 - 545 $582,000 - $1,171 - 1-BED 71 628 - 1,211 $725,000 - $1,158 -
1.5-BED 53 758-1,231 $825,000- $1,066-
2-BED 61 967 - 1,685 $1,260,000 - $1,093 -
2.5-BED 98 858-1,536 $1,250,000- $1,057-
3-BED 25 1,264-1,827 $1,718,000- $1,351-
3.5-BED 7 1,973 - 1,976 $3,070,000 - $1,554 -
CLOSED NEW SALES SUMMARY
TYPE #SALES AVG SF PRICE RANGES AVG PRICE PRICE P.S.F. AVG P.S.F
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SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 11
DISTRICT 9 THE HARRISON 401 HARRISON ST
DESCRIPTION Located in Rincon Hill neighborhood of San Francisco, The Harrison is the second tower of One Rincon Hill. The Harrison offers luxury condominium homes with panoramic views of the city and the bay.
AMENITIES CURRENT STATUS PROJECT INFORMATION • Private top fl oor lounge Date on Market: Apr ‘16 Developer: Maximus Real Estate Partners • 2,500 square foot fi tness center First Close of Escrow: N/A Submarket: Rincon Hill • Swimming pool & jacuzzi In Contract: 44 Number of Homes: 299 • Concierge service Closed: 0 HOA: $1,240-$1,480/mo. Avg. Monthly Absorption: 8.6 Units FINISHES • Bertazzoni range • Sub-Zero refrigerator • Stone countertops • Waterworks fi xtures in bathrooms UNIT MIX & LIST PRICE SUMMARY • Siberian oak wood fl oors TYPE #UNITS SIZE SF PRICE RANGES PRICE P.S.F.
1-BED 133 800 - 819 $825,000 - $1,339,065 $1,031 - $1,635 2-BED 154 1,240 - $1,517,743 - $1,223 -
3-BED 12 N/A - N/A - N/A -
CLOSED NEW SALES SUMMARY
TYPE #SALES AVG SF PRICE RANGES AVG PRICE PRICE P.S.F. AVG P.S.F
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SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 12
DISTRICT 7 ROCKWELL 1688 PINE ST
DESCRIPTION Located in the Pacific Heights neighborhood of San Francisco, Rockwell features two 13-story glass and concrete towers.
AMENITIES CURRENT STATUS PROJECT INFORMATION • Fitness center Date on Market: Apr ‘15 Developer: Oyster Development • Courtyard First Close of Escrow: N/A Submarket: Pacifi c Heights • Sky lounge In Contract: 219 Number of Homes: 260 • Grand solarium Closed: 0 HOA: $600-$900/mo. • Sky terrace Avg. Monthly Absorption: 12.7 Units • Owners’ club
FINISHES • Ceasarstone counters • Studio Becker cabinetry UNIT MIX & LIST PRICE SUMMARY • Bosch / Bertazzoni cooktop, oven & dishwasher TYPE #UNITS SIZE SF PRICE RANGES PRICE P.S.F. • Exterior exhaust venting 1-BED 113 500 - 756 $795,126 - $1,214 - 1.5-BED 29 703 - 832 $843,931 - $1,122 -
2-BED 117 874 - 1,515 $1,377,619 - $1,318 -
3-BED 1 1,762 - $3,105,000 - $1,762 -
CLOSED NEW SALES SUMMARY
TYPE #SALES AVG SF PRICE RANGES AVG PRICE PRICE P.S.F. AVG P.S.F
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SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 13
DISTRICT 3 SUMMIT 800 800 BROTHERHOOD WY
DESCRIPTION Summit 800 consists of 60 townhomes and 122 duplexes in the Stonestown neighborhood of San Francisco.
AMENITIES CURRENT STATUS PROJECT INFORMATION • Spacious decks on select plans Date on Market: Aug ‘14 Developer: Comstock Homes • Two-acre landscaped park with tot First Close of Escrow: N/A Submarket: Stonestown lot and dog park In Contract: 71 Number of Homes: 182 • Private streets Closed: 102 HOA: $160-$180/mo. Avg. Monthly Absorption: 6.8 Units FINISHES • Designer interiors • Granite slab countertops with 6” granite backsplashes in kitchen • Superior Viking® appliances UNIT MIX & LIST PRICE SUMMARY • Powder rooms in each residence TYPE #UNITS SIZE SF PRICE RANGES PRICE P.S.F.
3-BED DX 122 1,548 - 2,328 $1,150,000 - $612 - 3-BED TH 60 2,001 - 2,385 $1,585,000 - $792 -
CLOSED NEW SALES SUMMARY
TYPE #SALES AVG SF PRICE RANGES AVG PRICE PRICE P.S.F. AVG P.S.F
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SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 14
DISTRICT 6 FULTON 555 555 FULTON ST
DESCRIPTION Fulton 555 is located in the Hayes Valley and consists of 139 homes and features an onsite grocery market. It is designed by Ian Birchall & Associates.
AMENITIES CURRENT STATUS PROJECT INFORMATION • Onsite grocery market Date on Market: Jul ‘15 Developer: Fulton Street Ventures • Rooftop terrace First Close of Escrow: N/A Submarket: Hayes Valley • Lounge In Contract: 50 Number of Homes: 139 • Dog park Closed: 0 HOA: $490-$600/mo. • Private meeting space Avg. Monthly Absorption: 3.5 Units • Bike workstation
FINISHES • Stainless steel Bosch appliances • Sleek countertops UNIT MIX & LIST PRICE SUMMARY • Modern cabinets TYPE #UNITS SIZE SF PRICE RANGES PRICE P.S.F. • Hardwood fl oors 1-BED - 512 - 710 $691,380 - $794,321 $1,097 - $1,375 2-BED - 719 - 1,050 $923,025 - $1,344,801 $1,281 - $1,388
UNIT MIX & LIST PRICE SUMMARY
TYPE #UNITS SIZE SF PRICE RANGES PRICE P.S.F.
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 15
DISTRICT 10 ALMA & ENGEL FRIEDELL ST & INNES AVE
DESCRIPTION Alma & Engel are part of the larger Shipyard development by Lennar Urban. It contains 105 condominiums and townhomes, situated in Lennar’s Shipyard masterplan.
AMENITIES CURRENT STATUS PROJECT INFORMATION • Roof deck Date on Market: Jul ‘15 Developer: Lennar Urban • Shuttle services to downtown First Close of Escrow: N/A Submarket: Hunters Point In Contract: 90 Number of Homes: 105 FINISHES Closed: 0 HOA: $200-$420/mo. • Stainless steel Bosch appliances Avg. Monthly Absorption: 6.3 Units • Ceasarstone kitchen countertops • Modern cabinets • Bosch wine coolers in select homes
UNIT MIX & LIST PRICE SUMMARY
TYPE #UNITS SIZE SF PRICE RANGES PRICE P.S.F.
1-BED - 603 - 656 $550,000 - $685,800 $912 - $1,045 2-BED - 956 - 1,376 $808,500 - $985,800 $716 - $846
3-BED - 1,235 - 1,437 $910,000 - $1,050,800 $731 - $737
UNIT MIX & LIST PRICE SUMMARY
TYPE #UNITS SIZE SF PRICE RANGES PRICE P.S.F.
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 16
DISTRICT 6 THE DISTRICT 2655 BUSH ST
DESCRIPTION The District is located at the corner of Divisadero and Bush Streets and features 81 high-end condominiums.
AMENITIES CURRENT STATUS PROJECT INFORMATION • Fitness Center Date on Market: Dec ‘15 Developer: KB Homes • Greenhouse First Close of Escrow: N/A Submarket: Lower Pacifi c Heights • Rooftop deck In Contract: 29 Number of Homes: 81 Closed: 0 HOA: N/A Avg. Monthly Absorption: 3.2 Units
UNIT MIX & LIST PRICE SUMMARY
TYPE #UNITS SIZE SF PRICE RANGES PRICE P.S.F.
1-BED - 575 -980 $677,225-$1,169,150 $1,178-$1,193 2-BED - 971 - 1.164 $1,355,560 - $1,457,400 $1,252 - $1,396
UNIT MIX & LIST PRICE SUMMARY
TYPE #UNITS SIZE SF PRICE RANGES PRICE P.S.F.
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 17
DISTRICT 7 THE PACIFIC 2121 WEBSTER ST
DESCRIPTION Designed by Handel Architects, The Pacific is a paradigm of modern luxury. Located in the Pacific Heights, it offers luxury flats, two-story penthouses and three-bedroom townhomes.
AMENITIES CURRENT STATUS PROJECT INFORMATION • Observatory lounge Date on Market: Aug ‘16 Developer: Trumark Urban • Private garage & valet First Close of Escrow: N/A Submarket: Pacifi c Heights • Private fi tness studio In Contract: Confi dential Number of Homes: 76 • Yoga garden Closed: 0 HOA: N/A Avg. Monthly Absorption: N/A FINISHES • Arclinea cabinetry • Floor-to-ceiling windows • Gaggenau appliances • Frixtures from Dombracht, UNIT MIX & LIST PRICE SUMMARY
Waterworks, Duravit, Blanco TYPE #UNITS SIZE SF PRICE RANGES PRICE P.S.F. • Honed marble from Statuario Vena, Asolto Bianco, Carrara, Gris Savoie 1-BED 10 965 - 1,123 - - 2-BED 23 1,325 - 1,956 - - 3-BED 21 2,112 - 3,241 - -
PH 4 3,031-3,856 - -
UNIT MIX & LIST PRICE SUMMARY
TYPE #UNITS SIZE SF PRICE RANGES PRICE P.S.F.
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 18
DISTRICT 9 72 TOWNSEND 72 TOWNSEND ST
DESCRIPTION 72 Townsend is located in San Francisco’s SOMA district and features one-, two- and three-bedroom homes.
AMENITIES CURRENT STATUS PROJECT INFORMATION • 78 assigned parking spaces Date on Market: Feb ‘15 Developer: KB Home • Outdoor terraces / balcony (select First Close of Escrow: N/A Submarket: South Beach units only) In Contract: 14 Number of Homes: 74 • Urban city and water bay views Closed: 37 HOA: $700-$900/mo. • Concierge services Avg. Monthly Absorption: 2.8 Units
UNIT MIX & LIST PRICE SUMMARY
TYPE #UNITS SIZE SF PRICE RANGES PRICE P.S.F.
1.-BED 14 725 - $955,000 - $1,399,000 $1,317 -
1.5-BED 20 876 - $1,021,250 - $1,695,000 $1,166 -
2-BED 24 1,155 - $1,496,000 - $1,695,000 $1,295 -
2.5-BED 12 1,234 - $1,520,000 - $1,656,250 $1,232 -
3-BED 4 1,973 - N/A - N/A -
CLOSED NEW SALES SUMMARY
TYPE #SALES AVG SF PRICE RANGES AVG PRICE PRICE P.S.F. AVG P.S.F
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SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 19
DISTRICT 6 388 FULTON 388 FULTON ST
DESCRIPTION 388 Fulton is a 69-unit development in the Hayes Valley, featuring modern studios, one- and two-bedroom homes.
AMENITIES CURRENT STATUS PROJECT INFORMATION • Rooftop deck Date on Market: Mar ‘16 Developer: 7x7 Development • Work-lounge space First Close of Escrow: N/A Submarket: Hayes Valley • Courtyard In Contract: 53 Number of Homes: 69 • Indoor bike parking & work station Closed: 0 HOA: N/A • WiFi in Common Areas Avg. Monthly Absorption: 8.6 Units • Secured entry
FINISHES • Bertazzoni professional kitchen appliances UNIT MIX & LIST PRICE SUMMARY • Bosch built-in dishwasher • Blomberg built-in refrigerator TYPE #UNITS SIZE SF PRICE RANGES PRICE P.S.F. • Natural white oak fl ooring STUDIO 326 - 404 $500,000 - $1,534 -
• Operable windows 1-BED 404 - 559 $600,000 - $1,485 - • Washer/dryer hook ups 2-BED 701 - 779 $850,000 - $1,213 - • Kohler Archer bathrub • Grohe fi xtures
CLOSED NEW SALES SUMMARY
TYPE #SALES AVG SF PRICE RANGES AVG PRICE PRICE P.S.F. AVG P.S.F
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SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 20
DISTRICT 9 181 FREMONT RESIDENCES 181 FREMONT ST
DESCRIPTION When completed, 181 Fremont will be the second tallest building in San Francisco. In addition to residential units, the pre-certified LEED platinum building will offer 435,000 square feet of Class A+ commercial space. The building will also have direct access to the forthcoming Transbay Terminal’s elevated park via a seventh-floor skybridge.
AMENITIES CURRENT STATUS PROJECT INFORMATION • View terrace Date on Market: May ‘16 Developer: Jay Paul Company • Conservatory First Close of Escrow: N/A Submarket: Yerba Buena • Fitness center In Contract: 10 Number of Homes: 67 • Yoga room Closed: 0 HOA: $2,000 • Library Avg. Monthly Absorption: 3.3 Units • Catering kitchen • Conference room • Full-time concierge • Valet • Outdoor BBQ UNIT MIX & LIST PRICE SUMMARY • Fire pit TYPE #UNITS SIZE SF PRICE RANGES PRICE P.S.F. FINISHES 2-BEDS 47 1,200 - $3,000,000 - $2,400 - • Ceruse-ebonized oak wall features • French Oak fl oors 3-BEDS 20 - 7,000 $6,500,000 - $4,500 - • Brazilian Macaubas countertops • Polished Italian Calacatta Carrara marble fl oors CLOSED NEW SALES SUMMARY
• Custom Valcucine cabinets TYPE #SALES AVG SF PRICE RANGES AVG PRICE PRICE P.S.F. AVG P.S.F • Custom Série Rare polished brass handles ------
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SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 21
DISTRICT 6 450 HAYES 450 HAYES ST
DESCRIPTION Designed by Handel Architects, 450 Hayes features 41 homes with 3,700 square foot ground-floor retail space.
AMENITIES CURRENT STATUS PROJECT INFORMATION • Rooftop lounge Date on Market: Jan ‘16 Developer: DM Development • Courtyard First Close of Escrow: N/A Submarket: Hayes Valley • Virtual doorman In Contract: 38 Number of Homes: 41 • Curated retail Closed: 0 HOA: TBD Avg. Monthly Absorption: 4.7 Units FINISHES • Wide-plank oak fl ooring • SieMatic kitchens fi nished with Lotus White with solid quartz countertops UNIT MIX & LIST PRICE SUMMARY
TYPE #UNITS SIZE SF PRICE RANGES PRICE P.S.F.
1.-BED 24 622 - $830,000 - $1,334 -
2-BED 16 1,234 - $1,682,000 - $1,363 -
3-BED 1 - - -
CLOSED NEW SALES SUMMARY
TYPE #SALES AVG SF PRICE RANGES AVG PRICE PRICE P.S.F. AVG P.S.F
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SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 22
DISTRICT 6 ONE FRANKLIN 1 FRANKLIN ST
DESCRIPTION One Franklin features 35 condo units in an 8-story building designed by Forum Design. The building features a reinforced concrete frame, bicycle storage, and over 2,500 square feet of ground-floor retail.
AMENITIES CURRENT STATUS PROJECT INFORMATION • Courtyard Date on Market: Jun ‘16 Developer: JS Sullivan Development • Outdoor BBQ First Close of Escrow: N/A Submarket: Hayes Valley • Deck In Contract: 28 Number of Homes: 35 • Bike storage Closed: 0 HOA: $545 - $660 • Partnerships with Uber, Luxe, Bo Avg. Monthly Absorption: 9.1 Units Concept, Hello Alfred, Market Street Cycles, and Luke’s Local
FINISHES • Wide-plank oak wood fl ooring UNIT MIX & LIST PRICE SUMMARY • Bertazzoni ranges • Tiled backsplash TYPE #UNITS SIZE SF PRICE RANGES PRICE P.S.F. • Silestone quartz countertops STUDIO 10 445 - 479 $595,000 - $660,000 $1,242 - $1,439 • Grohe plumbing fi xtures 1-BED 10 504 - 548 $675,000 - $775,000 $1,232 - $1,538 • Single and dual vanities 2-BED 15 812 - 1,080 $1,049,000 - $1,453,000 $1,228 - $1,464
CLOSED NEW SALES SUMMARY
TYPE #SALES AVG SF PRICE RANGES AVG PRICE PRICE P.S.F. AVG P.S.F
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SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 23
DISTRICT 7 LUXE 1650 BROADWAY ST
DESCRIPTION Located in Pacific Heights, Luxe consists of 34 luxury condominiums. It is designed by award-winning architecture firm, Forum Design.
AMENITIES CURRENT STATUS PROJECT INFORMATION • $100K for extra parking Date on Market: Oct ‘15 Developer: Belrich Partners • 10-hour concierge First Close of Escrow: N/A Submarket: Pacifi c Heights In Contract: 10 Number of Homes: 34 FINISHES Closed: 19 HOA: $800-$1,000/mo. • Spacious balconies Avg. Monthly Absorption: 2.8 Units • Custom kitchen & bathroom vanity by Studio Becker • CeasarStone quartz contertops • Thermador appliances
• Subzero refrigerators UNIT MIX & LIST PRICE SUMMARY • Subzero / Uline wine coolers • Hansgrohe faucets TYPE #UNITS SIZE SF PRICE RANGES PRICE P.S.F. • Italian porcelain tiles 1-BED 9 816 - 1,103 $1,150,000 - $1,409 -
• Frameless glass shower enclosures 2-BED 10 1,040 - 1,129 $2,100,000 - $2,019 -
3-BED 11 1,394 - 1,943 $2,195,000 - $1,575 -
PH 2 1,930 - 1,965 $5,000,000 - $2,591 -
CLOSED NEW SALES SUMMARY
TYPE #SALES AVG SF PRICE RANGES AVG PRICE PRICE P.S.F. AVG P.S.F
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SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 24
DISTRICT 9 6 MINT 6 MINT PL
DESCRIPTION Station House #1 at 6 Mint Plaza was built in a San Francisco Fire Department firehouse. The building was renovated and repositioned to apartments in 2007 before it was converted to condominiums in 2015.
AMENITIES CURRENT STATUS PROJECT INFORMATION • Rooftop deck with spa Date on Market: May ‘15 Developer: Veritas Investments / Carlyle Group • Private fi tness center First Close of Escrow: N/A Submarket: SOMA In Contract: Confi dential Number of Homes: 22 FINISHES Closed: 0 HOA: N/A • Warehouse-style windows Avg. Monthly Absorption: N/A • Polished concrete fl oors • Private walk-out balconies • Designer kitchen & baths
UNIT MIX & LIST PRICE SUMMARY
TYPE #UNITS SIZE SF PRICE RANGES PRICE P.S.F.
1-BED 9 677 - 698 - -
2-BED 12 838 - 995 - -
3-BED 3 1,931-1,931 -
PH 1 3,390 - - -
CLOSED NEW SALES SUMMARY
TYPE #SALES AVG SF PRICE RANGES AVG PRICE PRICE P.S.F. AVG P.S.F
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SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 25
RECENTLY SOLD OUT DEVELOPMENTS THAT SOLD OUT IN 2015
SAN FRANCISCO
PROJECT NAME ADDRESS DEVELOPER UNITS
1001 SEVENTEENTH 1001 17TH ST EAMONN HERLIHY 26
SAPPHIRE 252 9TH ST STANLEY CHIA 15
TOTAL 15
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 26
DISTRICT 9 1001 SEVENTEENTH 1001 17TH ST
DESCRIPTION Located in Potrero Hill, 1001 Seventeenth consists of 26 luxury condominiums designed by Elevation Architects.
AMENITIES CURRENT STATUS PROJECT INFORMATION • Bicycle storage Date on Market: Nov ‘15 Developer: Eamonn Herlihy • Alarm systems First Close of Escrow: N/A Submarket: Potrero Hill • Solar ready In Contract: 0 Number of Homes: 26 Closed: 26 HOA: $420-$505/mo. FINISHES Avg. Monthly Absorption: 2.8 Units • Wide-planked oak fl ooring • High ceilings • Stainless steel appliances • Pental Quartz countertops UNIT MIX & LIST PRICE SUMMARY
TYPE #UNITS SIZE SF PRICE RANGES PRICE P.S.F.
STUDIO 3 525 - 525 $625,000 - $1,190 -
1-BED 12 540 - 935 $680,000 - $1,259 -
2-BED 11 880-1,135 $1,050,000- $1,193-
CLOSED NEW SALES SUMMARY
TYPE #SALES AVG SF PRICE RANGES AVG PRICE PRICE P.S.F. AVG P.S.F
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SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 27
DISTRICT 9 SAPPHIRE 252 9TH ST
DESCRIPTION Located in SOMA, with close proximity to Twitter and Mid-Market tech hub, Sapphire features 12 modern new residences.
AMENITIES CURRENT STATUS PROJECT INFORMATION • Skyline city views Date on Market: Oct ‘15 Developer: Stanley Chia • Rooftop deck First Close of Escrow: N/A Submarket: SOMA • Dog walking area In Contract: 0 Number of Homes: 15 • Bike room Closed: 15 HOA: $430-$444/mo. Avg. Monthly Absorption: 3.0 Units FINISHES • Oak wide-plank fl ooring • Large loft-style windows • Stainless steel appliances • Bertazzoni range UNIT MIX & LIST PRICE SUMMARY • Designer bathroom with a Toto toilet and ceramic tile TYPE #UNITS SIZE SF PRICE RANGES PRICE P.S.F. • Washer / dryer hookups 1-BED 634 - 764 $739,000 - $889,000 $1,164 - $1,166
• Additional storage 2-BED 715 - 715 $829,000 - $859,000 $1,159 - $1,201
CLOSED NEW SALES SUMMARY
TYPE #SALES AVG SF PRICE RANGES AVG PRICE PRICE P.S.F. AVG P.S.F
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SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 28
PAST RESALE DEVELOPMENTS
DISTRICT 5
PROJECT NAME ADDRESS DEVELOPER UNITS
LINEA 1998 MARKET ST BRIAN SPIERS DEVELOPMENT 115
BRODERICK PLACE 350 BRODERICK ST SIGNATURE PROPERTIES 70
CHELSEA PARK 29 OAKWOOD ST CULLEN PROPERTIES 39
THE CENTURY 2200 MARKET ST SIAVASH TAHBAZOF 22
ICON 2299 MARKET ST ANGUS MACCARTHY 18
200 DOLORES 200 DOLORES ST CORVORN, LLC 13
TOTAL 277
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 29
DISTRICT 5 LINEA 1998 MARKET ST
PROJECT INFORMATION Developer: Brian Spiers Development Sales Start Date: Jul ’13 Submarket: Duboce Triangle Sales End Date: Nov ’14 Number of Homes: 115 Avg. Absorption: 7.1 Units/Mo. HOA Fees: $450-$660
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
1-BED AVGS 1 - $739,000 - - - 67 ACTIVE 2-BED AVGS 1 - $1,199,000 - - - 24 ------PENDING ------1-BED AVGS 1 - $835,000 - $845,000 - 14 SOLD 2-BED AVGS 1 963 $1,155,000 $1,199 $1,130,000 $1,173 151 ------
DISTRICT 5 BRODERICK PLACE 350 BRODERICK ST
PROJECT INFORMATION Developer: Signature Properties Sales Start Date: Feb ’06 Submarket: Haight Ashbury Sales End Date: May ’07 Number of Homes: 70 Avg. Absorption: 4.5 Units/Mo. HOA Fees: $370-$420
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------SOLD ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 30
DISTRICT 5 CHELSEA PARK 29 OAKWOOD ST
PROJECT INFORMATION Developer: Cullen Properties Sales Start Date: Jan ’08 Submarket: Mission Dolores Sales End Date: Mar ’09 Number of Homes: 39 Avg. Absorption: 2.8 Units/Mo. HOA Fees: $355-$470
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------3-BED AVGS 1 - $1,495,000 - $1,540,000 - - SOLD ------
DISTRICT 5 THE CENTURY 2200 MARKET ST
PROJECT INFORMATION Developer: Siavash Tahbazof Sales Start Date: Oct ’13 Submarket: Duboce Triangle Sales End Date: Jun ’14 Number of Homes: 22 Avg. Absorption: 2.7 Units/Mo. HOA Fees: $430-$490
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
3-BED AVGS 1 2,661 $2,950,000 $1,109 - - 66 ACTIVE ------1-BED AVGS 1 - $899,000 - - - 42 PENDING ------1-BED AVGS 2 916 $899,000 $981 $997,500 $1,092 13 SOLD 2-BED AVGS 4 1,153 $1,384,500 $1,201 $1,441,250 $1,251 29 ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 31
DISTRICT 5 ICON 2299 MARKET ST
PROJECT INFORMATION Developer: Angus McCarthy Sales Start Date: Jun ’12 Submarket: Duboce Triangle Sales End Date: Nov ’13 Number of Homes: 18 Avg. Absorption: 1.6 Units/Mo. HOA Fees: $385-$520
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------SOLD ------
DISTRICT 5 200 DOLORES 200 DOLORES ST
PROJECT INFORMATION Developer: Corvorn, LLC Sales Start Date: Jul ’13 Submarket: Duboce Tiangle Sales End Date: Oct ’13 Number of Homes: 13 Avg. Absorption: 12.4 Units/Mo. HOA Fees: $450-$630
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------1-BED AVGS 1 615 $725,000 $1,179 $730,000 $1,187 175 SOLD 2-BED AVGS 1 1,393 $1,750,000 $1,256 $1,828,000 $1,312 27 ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 32
PAST RESALE DEVELOPMENTS
DISTRICT 6
PROJECT NAME ADDRESS DEVELOPER UNITS
THE HAYES 55 PAGE ST INTRACORP 128
HERITAGE ON FILLMORE 1310 FILLMORE ST EM JOHNSON INTREST, INC. 80
300 IVY 401 GROVE ST POCKET DEVELOPMENT 63
ALAMO SQUARE 988 FULTON ST 988 HOLDINGS, LLC 63
77 VAN NESS 77 VAN NESS AVE COMAC 50
8 OCTAVIA 8 OCTAVIA BLVD DM DEVELOPMENT 47
400 GROVE 400 GROVE ST DM DEVELOPMENT 34
LINDEN HAYES 233 FRANKLIN ST VILLAGE PROPERTIES 32
2000 ELLIS 2000 ELLIS ST WESTERN ADDITION 21
2020 ELLIS 2020 ELLIS ST JOHN MCINERNEY 12
TOTAL 530
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 33
DISTRICT 6 THE HAYES 55 PAGE ST
PROJECT INFORMATION Developer: Intracorp Sales Start Date: Jun ’07 Submarket: Hayes Valley Sales End Date: Jun ’09 Number of Homes: 128 Avg. Absorption: 5.3 Units/Mo. HOA Fees: $300-$500
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
2-BED AVGS 1 1,037 $1,198,000 $1,155 - - 47 ACTIVE ------PENDING ------STUDIO AVGS 2 420 $549,000 $1,306 $645,000 $1,535 28 SOLD 1-BED AVGS 2 799 $1,017,000 $1,269 $1,030,000 $1,284 36 2-BED AVGS 5 1,135 $1,418,200 $1,278 $1,561,000 $1,398 16
DISTRICT 6 HERITAGE ON FILLMORE 1310 FILLMORE ST
PROJECT INFORMATION Developer: EM Johnson Interest, Inc. Sales Start Date: Feb ’07 Submarket: Western Addition Sales End Date: Apr ’09 Number of Homes: 80 Avg. Absorption: 3.0 Units/Mo. HOA Fees: $460-$640
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------2-BED AVGS 1 1,115 $1,095,000 $982 - - 23 PENDING ------1-BED AVGS 1 810 $743,000 $917 $738,000 $911 31 SOLD 2-BED AVGS 1 1,275 $1,095,000 $859 $1,067,500 $837 96 ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 34
DISTRICT 6 300 IVY 401 GROVE ST
PROJECT INFORMATION Developer: Pocket Development Sales Start Date: May ’13 Submarket: Hayes Valley Sales End Date: Dec ’13 Number of Homes: 63 Avg. Absorption: 8.9 Units/Mo. HOA Fees: $410-$650
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------SOLD ------
DISTRICT 6 ALAMO SQUARE 988 FULTON ST
PROJECT INFORMATION Developer: 988 Holdings, LLC Sales Start Date: Oct ’05 Submarket: Western Addition Sales End Date: Nov ’06 Number of Homes: 63 Avg. Absorption: 4.8 Units/Mo. HOA Fees: $400-$500
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
1-BED AVGS 1 - $699,000 - - - 5 ACTIVE ------1-BED AVGS 1 666 $549,000 $824 - - 32 PENDING 2-BED AVGS 1 1,016 $799,999 $787 - - 137 ------1-BED AVGS 4 556 $580,475 $1,071 $656,250 $1,165 59 SOLD 2-BED AVGS 4 1,190 $1,007,250 $870 $1,002,500 $868 118 4-BED AVGS 1 1,800 $1,195,000 $664 $1,250,000 $694 37
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 35
DISTRICT 6 77 VAN NESS 77 VAN NESS AVE
PROJECT INFORMATION Developer: Comac Sales Start Date: Sep ’09 Submarket: Hayes Valley Sales End Date: Mar ’10 Number of Homes: 50 Avg. Absorption: 5.5 Units/Mo. HOA Fees: $460-$620
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------1-BED AVGS 1 975 $999,000 $1,025 $980,000 $1,005 28 SOLD 2-BED AVGS 1 1,140 $1,095,000 $961 $1,095,000 $961 22 ------
DISTRICT 6 8 OCTAVIA 8 OCTAVIA BLVD
PROJECT INFORMATION Developer: DM Development Sales Start Date: May ’14 Submarket: Hayes Valley Sales End Date: May ’15 Number of Homes: 47 Avg. Absorption: 3.9 Units/Mo. HOA Fees: $625-$700
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------SOLD ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 36
DISTRICT 6 400 GROVE 400 GROVE ST
PROJECT INFORMATION Developer: DM Development Sales Start Date: May ’15 Submarket: Hayes Valley Sales End Date: Jul ’15 Number of Homes: 34 Avg. Absorption: 17.0 Units/Mo. HOA Fees: $600-$950
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------SOLD ------
DISTRICT 6 LINDEN HAYES 233 FRANKLIN ST
PROJECT INFORMATION Developer: Village Builders Sales Start Date: Mar ’10 Submarket: Hayes Valley Sales End Date: Nov ’10 Number of Homes: 32 Avg. Absorption: 3.9 Units/Mo. HOA Fees: $395-$550
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------SOLD ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 37
DISTRICT 6 2000 ELLIS 2000 ELLIS ST
PROJECT INFORMATION Developer: John McInerney Sales Start Date: Aug ’13 Submarket: Westen Addition Sales End Date: Dec ’13 Number of Homes: 21 Avg. Absorption: 5.2 Units/Mo. HOA Fees: $365-$395
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------1-BED AVGS 3 761 $705,333 $997 $743,333 $1,051 21 SOLD ------
DISTRICT 6 2020 ELLIS 2020 ELLIS ST
PROJECT INFORMATION Developer: John McInerney Sales Start Date: Mar ’12 Submarket: Western Addition Sales End Date: Jun ’13 Number of Homes: 12 Avg. Absorption: 3.3 Units/Mo. HOA Fees: N/A
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------
PENDING ------
------1-BED AVGS 1 - $725,000 - $775,000 - 12 SOLD ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 38
PAST RESALE DEVELOPMENTS
DISTRICT 7
PROJECT NAME ADDRESS DEVELOPER UNITS
THE GREENWICH 1501 GREENWICH ST J.C.N. DEVELOPERS 29
AMERO 1501 FILBERT ST TRUMARK URBAN 27
1840 WASHINGTON 1840 WASHINGTON ST WORLDCO COMPANY 26
TOTAL 82
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 39
DISTRICT 7 THE GREENWICH 1501 GREENWICH ST
PROJECT INFORMATION Developer: J.C.N. Developers Sales Start Date: Feb ’08 Submarket: Cow Hollow Sales End Date: Oct ’09 Number of Homes: 29 Avg. Absorption: 1.4 Units/Mo. HOA Fees: $400-$510
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------STUDIO AVGS 2 565 $589,000 $1,043 $587,000 $1,039 58 SOLD 1-BED AVGS 1 793 $949,000 $1,197 $935,000 $1,179 25 2-BED AVGS 3 1,013 $1,274,667 $1,263 $1,250,000 $1,237 81
DISTRICT 7 AMERO 1501 FILBERT ST
PROJECT INFORMATION Developer: Trumark Urban Sales Start Date: Aug ’14 Submarket: Cow Hollow Sales End Date: Feb ’15 Number of Homes: 27 Avg. Absorption: 4.4 Units/Mo. HOA Fees: $600-$790
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------SOLD ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 40
DISTRICT 7 1840 WASHINGTON 1840 WASHINGTON ST
PROJECT INFORMATION Developer: Worldco Company Sales Start Date: Dec ’11 Submarket: Pacifi c Heights Sales End Date: Jun ’12 Number of Homes: 26 Avg. Absorption: 3.9 Units/Mo. HOA Fees: $410-$545
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------1-BED AVGS 1 837 $945,000 $1,129 - - 101 PENDING ------1-BED AVGS 2 791 $872,000 $1,097 $950,000 $1,198 24 SOLD 2-BED AVGS 4 1,074 $1,162,000 $1,082 $1,211,250 $1,127 25 ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 41
PAST RESALE DEVELOPMENTS
DISTRICT 8
PROJECT NAME ADDRESS DEVELOPER UNITS
SYMPHONY TOWERS 750 VAN NESS AVE WEST BAY BUILDERS 130
MARLOW 1788 CLAY ST OYSTER DEVELOPMENT 98
733 FRONT ST 733 FRONT ST ATLANTIC PACIFIC PARTNERS 69
BOOK CONCERN BLDG. 83 MCALLISTER ST GROUP I 60
RITZ CARLTON RESIDENCES 690 MARKET ST HCT INVESTMENTS 59
THE ARTANI 818 VAN NESS AVE GEORGE NCNABB 52
THE ROYAL 201 SANSOME ST ATLANTIC PACIFIC PARTNERS 46
1645 PACIFIC 1645 PACIFIC ST GROSVENOR AMERICAS 39
901 BUSH 901 BUSH ST CASSIDY CONSTRUCTION 38
BLANC 1080 SUTTER ST JS SULLIVAN DEVELOPMENT 35
THE ODEON 181 O’FARRELL ST UNION PROPERTY CAPITAL 29
THE GARFIELD 942 MARKET ST HCT INVESTMENTS 28
AXIS 1299 BUSH ST MAURICE CASEY / MIKE JOYCE 26
1355 PACIFIC 1355 PACIFIC AVE MCGALKEN, LLC 23
THE HEIGHTS 2829 CALIFORNIA ST RAY STEFFEN / CHARLES CASTRO 13
TOTAL 745
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 42
DISTRICT 8 SYMPHONY TOWERS 750 VAN NESS AVE
PROJECT INFORMATION Developer: West Bay Builders Sales Start Date: May ’07 Submarket: Van Ness / Civic Center Sales End Date: Mar ’12 Number of Homes: 130 Avg. Absorption: 2.2 Units/Mo. HOA Fees: $300-$500
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
STUDIO AVGS 1 391 $519,888 $1,330 - - 88 ACTIVE 1-BED AVGS 1 738 $749,000 $1,015 - - 159 ------PENDING ------STUDIO AVGS 8 393 $458,969 $1,070 $481,625 $1,173 73 SOLD 1-BED AVGS 3 755 $715,667 $1,058 $749,000 $1,072 41 ------
DISTRICT 8 MARLOW 1788 CLAY ST
PROJECT INFORMATION Developer: Oyster Development Sales Start Date: Apr ’13 Submarket: Russian Hill Sales End Date: Mar ’14 Number of Homes: 98 Avg. Absorption: 8.8 Units/Mo. HOA Fees: $550-$675
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------SOLD ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 43
DISTRICT 8 733 FRONT 733 FRONT ST
PROJECT INFORMATION Developer: Atlantic Pacifi c Partners Sales Start Date: Apr ’07 Submarket: Barbary Coast Sales End Date: May ’08 Number of Homes: 69 Avg. Absorption: 5.2 Units/Mo. HOA Fees: $500-$750
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------1-BED AVGS 1 890 $1,200,000 $1,348 $1,200,000 $1,348 - SOLD 2-BED AVGS 3 1,292 $1,912,667 $1,473 $1,966,667 $1,515 2 ------
DISTRICT 8 BOOK CONCERN BLDG. 83 MCALLISTER ST
PROJECT INFORMATION Developer: Group I Sales Start Date: May ’06 Submarket: Van Ness / Civic Center Sales End Date: Feb ’10 Number of Homes: 60 Avg. Absorption: 1.1 Units/Mo. HOA Fees: $275-$360
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
STUDIO AVGS 2 332 $449,000 $1,406 - - 44 ACTIVE 2-BED AVGS 1 630 $599,000 $951 - - 67 ------PENDING ------STUDIO AVGS 3 - $396,667 - $479,333 - 32 SOLD ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 44
DISTRICT 8 RITZ-CARLTON RESIDENCES 690 MARKET ST
PROJECT INFORMATION Developer: HCT Investments Sales Start Date: May ’06 Submarket: Financial District Sales End Date: Jan ’10 Number of Homes: 59 Avg. Absorption: 1.3 Units/Mo. HOA Fees: $1,000-$4,000
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------2-BED AVGS 1 1,382 $1,495,000 $1,082 - - 182 PENDING ------1-BED AVGS 1 1,050 $1,150,000 $1,095 $1,050,000 $1,000 277 SOLD 2-BED AVGS 3 1,464 $1,693,333 $1,237 $1,663,333 $1,197 22 ------
DISTRICT 8 THE ARTANI 818 VAN NESS AVE
PROJECT INFORMATION Developer: George McNabb Sales Start Date: Mar ’12 Submarket: Van Ness / Civic Center Sales End Date: N/A Number of Homes: 52 Avg. Absorption: 1.4 Units/Mo. HOA Fees: $350-$600
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------1-BED AVGS 1 - $749,000 - $780,000 - 4 SOLD 2-BED AVGS 1 1,033 $995,000 $963 $1,074,000 $1,040 14 ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 45
DISTRICT 8 THE ROYAL 201 SANSOME ST
PROJECT INFORMATION Developer: Atlantic Pacifi c Partners Sales Start Date: Jun ’05 Submarket: Financial District Sales End Date: May ’08 Number of Homes: 46 Avg. Absorption: 1.3 Units/Mo. HOA Fees: $455-$635
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
2-BED AVGS 1 1,368 $1,485,000 $1,086 - - 48 ACTIVE ------PENDING ------1-BED AVGS 4 707 $728,000 $1,093 $742,875 $1,115 26 SOLD ------
DISTRICT 8 1645 PACIFIC 1645 PACIFIC ST
PROJECT INFORMATION Developer: Grosvenor Americas Sales Start Date: Jun ’14 Submarket: Nob Hill Sales End Date: Aug ’14 Number of Homes: 39 Avg. Absorption: 18.9 Units/Mo. HOA Fees: $475-$625
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
2-BED AVGS 1 1,626 $2,180,000 $1,341 - - 81 ACTIVE ------PENDING ------1-BED AVGS 1 845 $708,000 $838 $850,000 $1,006 13 SOLD 2-BED AVGS 3 1,145 $1,381,333 $1,191 $1,490,000 $1,291 21 ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 46
DISTRICT 8 901 BUSH 901 BUSH ST
PROJECT INFORMATION Developer: Cassidy Construction Sales Start Date: Jul ’08 Submarket: Downtown Sales End Date: Sep ’10 Number of Homes: 38 Avg. Absorption: 1.4 Units/Mo. HOA Fees: $265-$340
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
2-BED AVGS 1 790 $749,000 $948 - - 86 ACTIVE ------STUDIO AVGS 1 530 $599,000 $1,130 - - 81 PENDING 1-BED AVGS 1 892 $689,000 $772 - - 10 ------STUDIO AVGS 1 582 $549,000 $943 $565,000 $971 33 SOLD 1-BED AVGS 7 629 $653,129 $975 $672,143 $998 29 2-BED AVGS 2 928 $900,000 $943 $895,000 $943 28
DISTRICT 8 BLANC 1080 SUTTER ST
PROJECT INFORMATION Developer: JS Sullivan Development Sales Start Date: Aug ’13 Submarket: Downtown Sales End Date: Mar ’14 Number of Homes: 35 Avg. Absorption: 5.0 Units/Mo. HOA Fees: $485-$680
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
2-BED AVGS 1 1,530 $1,649,000 $1,078 - - 17 ACTIVE ------PENDING ------1-BED AVGS 1 - $750,000 - $750,000 - 8 SOLD 2-BED AVGS 2 1,017 $974,000 $952 $1,035,000 $1,019 20 3-BED AVGS 4 1,323 $1,385,000 $1,052 $1,460,000 $1,101 33
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 47
DISTRICT 8 THE ODEON 181 O’FARRELL ST
PROJECT INFORMATION Developer: Union Property Capital Sales Start Date: Aug ’06 Submarket: Downtown Sales End Date: Jun ’07 Number of Homes: 29 Avg. Absorption: 2.9 Units/Mo. HOA Fees: $550-$625
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
1-BED AVGS 2 1,357 $1,202,500 $886 - - 40 ACTIVE ------PENDING ------1-BED AVGS 2 1,076 $964,500 $896 $973,000 $904 78 SOLD ------
DISTRICT 8 THE GARFIELD 942 MARKET ST
PROJECT INFORMATION Developer: HCT Investments Sales Start Date: Sep ’08 Submarket: Downtown Sales End Date: Sep ’10 Number of Homes: 28 Avg. Absorption: 1.0 Units/Mo. HOA Fees: $470-$675
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------1-BED AVGS 1 741 $599,000 $808 $760,000 $1,026 11 SOLD ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 48
DISTRICT 8 AXIS 1299 BUSH ST
PROJECT INFORMATION Developer: Maurice Casey / Mike Joyce Sales Start Date: Nov ’10 Submarket: Downtown Sales End Date: Mar ’12 Number of Homes: 26 Avg. Absorption: 1.5 Units/Mo. HOA Fees: $385-$520
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
2-BED AVGS 1 1,530 $1,649,000 $1,078 - - 17 ACTIVE ------PENDING ------1-BED AVGS 1 - $750,000 - $750,000 - 8 SOLD 2-BED AVGS 2 1,017 $974,000 $952 $1,035,000 $1,019 20 3-BED AVGS 4 1,323 $1,385,000 $1,052 $1,460,000 $1,101 33
DISTRICT 8 1355 PACIFIC 1355 PACIFIC AVE
PROJECT INFORMATION Developer: McGalken, LLC Sales Start Date: Apr ’10 Submarket: Russian Hill Sales End Date: Mar ’11 Number of Homes: 23 Avg. Absorption: 2.1 Units/Mo. HOA Fees: $380-$430
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------1-BED AVGS 1 880 $998,000 $1,134 $1,225,000 $1,392 13 SOLD 2-BED AVGS 1 1,040 $1,095,000 $1,053 $1,100,000 $1,058 13 ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 49
DISTRICT 8 THE HEIGHTS 2829 CALIFORNIA ST
PROJECT INFORMATION Developer: Ray Steff en / Charles Castro Sales Start Date: Oct ’12 Submarket: Pacifi c Heights Sales End Date: Jun ’13 Number of Homes: 13 Avg. Absorption: 1.7 Units/Mo. HOA Fees: $300-$600
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------2-BED AVGS 4 1,754 $1,799,000 $1,025 $2,077,000 $1,182 49 SOLD ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 50
PAST RESALE DEVELOPMENTS
DISTRICT 9
PROJECT NAME ADDRESS DEVELOPER UNITS
THE BEACON 250-260 KING ST CENTURION REAL ESTATE 595
MILLENIUM TOWER 301 MISSION ST MILLENNIUM PARTNERS 419
ONE RINCON 425 1ST ST URBAN WEST ASSOCIATES 396
THE INFINTIY-TOWER I 301-333 MAIN ST TISHMAN SPEYER 365
THE METROPOLITAN 333 & 355 1ST ST CRESCENT HEIGHTS 342
MADRONE 420 MISSION BAY BLVD BOSA DEVELOPMENT 329
THE BRANNAN 219-239 BRANNAN ST RELIANCE DEVELOPMENT CO. 328
THE PALMS 555 4TH ST CASSIDY CONSTRUCTION 301
INFINITY-TOWER II 338 SPEAR ST TISHMAN SPEYER 285
ARTERRA 300 BERRY ST INTRACORP 269
ARDEN 718 LONG BRIDGE ST BOSA DEVELOPMENT 267
SOMA GRAND 1160 MISSION ST AGI CAPITAL / TMG PARTNERS 246
888 SEVENTH STREET 888 7TH ST AF EVANS 224
140 SOUTH VAN NESS 140 S. VAN NESS AVE CHARIOT SVN 208
170 OFF THIRD 170 KING ST SECURITY PROPERTIES 201
YERBA BUENA LOFTS 855 FOLSOM ST ED TANSEV 200
199 NEW MONTGOMERY 199 NEW MONTGOMERY ST MONAHAN PACIFIC 166
ONE HAWTHORNE 1 HAWTHORNE ST JACKSON PACIFIC VENTURES 165
THE POTRERO 451 KANSAS ST LAMBERT DEVELOPMENT 165
FOUR SEASONS 765 MARKET ST MILLENNIUM PARTNERS 142
BLU 601 FOLSOM ST LENNAR URBAN 142
THE WATERMARK 501 BEALE ST LEND LEASE 136
PARK TERRACE 325 BERRY ST OPUS WEST 136
VIDA 2558 MISSION ST OYSTER DEVELOPMENT 114
88 TOWNSEND 88 TOWNSEND ST ROSENBERG CO. 109
THE MONTGOMERY 74 NEW MONTGOMERY NEW URBAN PROPERTIES 107 STARWOOD HOTELS / CARPENTER ST. REGIS RESIDENCES 188 MINNA ST 102 & CO RADIANCE 330 MISSION BAY BLVD BOSA DEVELOPMENT 99
235 BERRY 235 BERRY ST SIGNATURE PROPERTIES 99
CUBIX 766 HARRISON ST FIRST CITIZENS BANK 98
THE LANSING 40-45 LANSING ST LAMBERT DEVELOPMENT 82
SHIPLEY SQUARE 821 FOLSOM ST WILSON MEANY 78
UNION 2125 BRYANT ST BY PALISADES 76
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 51
PAST RESALE DEVELOPMENTS
DISTRICT 9 - CONTINUED
PROJECT NAME ADDRESS DEVELOPER UNITS
ESPRIT PARK-SOUTH 900 MINNESOTA ST MACQUARIE HOLDINGS 75
ESPRIT PARK-NORTH 850 MINNESOTA ST MACQUARIE HOLDINGS 67
SIERRA HEIGHTS 25 SIERRA ST R GROUP 66
555 BARTLETT 3240 CESAR CHAVEZ ST SEVEN HILLS PROPERTIES 60
THE MINT COLLECTION 410 JESSIE ST THE MARTIN BUILDING COMPANY 52
1 ECKER 16 JESSIE ST THE PAULS CORPORATION 51
310 TOWNSEND 310 TOWNSEND ST SANTA FE PROPERTIES 45
FIFTEEN FIFTEEN 1515 15TH ST JS SULLIVAN DEVELOPMENT 40
MISSION @ 1875 1875 MISSION ST CORVORN PROPERTIES, LLC 39
299 VALENCIA 299 VALENCIA ST JS SULLIVAN DEVELOPMENT 36
MILLWHEEL NORTH 1265 INDIANA ST R GROUP 36
ONE SOUTH PARK 1 SOUTH PARK AVE SANTA FE PROPERTIES 35
MOSAICA 601 601 ALABAMA ST CITIZENS HOUSINGS CORP. 34
35 DOLORES 35 DOLORES LIGHTNER PROPERTY GROUP 33
MILLWHEEL SOUTH 1301 INDIANA ST R GROUP 32
THE CITRINO 566 S. VAN NESS AVE DOLMEN PROPERTY GROUP 32
THE OLYMPIA 501 DONAHUE ST LENNAR URBAN 25
VALENCIA 270 270 VALENCIA ST BRIAN SPIERS DEVELOPMENT 24
2200 MISSION 2200 MISSION ST H&A INVESTMENTS 23
870 HARRISON 870 HARRISON ST JS SULLIVAN DEVELOPMENT 22
ONYX ON THE PARK 310 CAROLINA ST SEAN KEIGHRAN 21
788 MINNA 788 MINNA ST EAMONN HERLIHY 20
ONYX 415 DE HARO ST SEAN KEIGHRAN 20
V20 3590 20TH ST BROWN & CO 18
3500 19TH STREET 3500 19TH ST TOM MURPHY 17
411 VALENCIA 411 VALENCIA ST PHILLIP MCCARTHY 16
616 20TH STREET 616 20TH ST 616 20TH STREET HOMES, LLC 16
750 2ND 750 2ND ST MORGAN CREEK VENTURES 14
TOTAL 7,960
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 52
DISTRICT 9 THE BEACON 250-260 KING ST
PROJECT INFORMATION Developer: Centurion Real Estate Sales Start Date: Jul ’05 Submarket: South Beach Sales End Date: Jul ’07 Number of Homes: 595 Avg. Absorption: 23.8 Units/Mo. HOA Fees: $500-$800
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
STUDIO AVGS 1 556 $599,000 $1,077 - - 31 ACTIVE 1-BED AVGS 2 825 $774,000 $940 - - 28 2-BED AVGS 3 1,393 $1,454,333 $1,040 - - 55 1-BED AVGS 2 903 $874,000 $968 - - 71 PENDING ------STUDIO AVGS 5 666 $659,380 $997 $689,000 $1,041 17 SOLD 1-BED AVGS 26 827 $785,284 $958 $798,363 $974 46 2-BED AVGS 17 1,246 $1,278,052 $1,070 $1,299,912 $1,080 30
DISTRICT 9 MILLENNIUM TOWER 301 MISSION ST
PROJECT INFORMATION Developer: Millennium Partners Sales Start Date: Nov ’07 Submarket: SOMA - Yerba Buena Sales End Date: Apr ’13 Number of Homes: 419 Avg. Absorption: 9.0 Units/Mo. HOA Fees: $450-$650
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
1-BED AVGS 2 1,092 $1,507,500 $1,366 - - 45 ACTIVE 2-BED AVGS 5 1,621 $2,087,800 $1,279 - - 61 ------PENDING ------1-BED AVGS 5 949 $1,362,200 $1,460 $1,268,600 $1,380 61 SOLD 2-BED AVGS 9 1,792 $3,141,333 $1,715 $2,920,556 $1,599 117 3-BED AVGS 2 2,743 $6,497,000 $2,278 $5,750,000 $2,013 117
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 53
DISTRICT 9 ONE RINCON 425 1ST ST
PROJECT INFORMATION Developer: Urban West Associates Sales Start Date: Jan ’06 Submarket: Rincon Hill Sales End Date: Nov ’12 Number of Homes: 396 Avg. Absorption: 7.2 Units/Mo. HOA Fees: $700-$1,000
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
1-BED AVGS 5 712 $996,200 $1,399 - - 28 ACTIVE 2-BED AVGS 3 1,300 $1,822,000 $1,396 - - 74 3-BED AVGS 2 1,602 $3,372,000 $2,104 - - 115 1-BED AVGS 1 744 $782,000 $1,051 - - 15 PENDING 2-BED AVGS 5 1,267 $1,763,000 $1,387 - - 86 ------1-BED AVGS 6 743 $1,101,667 $1,481 $1,116,500 $1,501 54 SOLD 2-BED AVGS 7 1,273 $1,929,714 $1,514 $1,869,286 $1,467 57 3-BED AVGS 2 2,016 $3,347,000 $1,764 $3,200,000 $1,677 32
DISTRICT 9 THE INFINITY-TOWER I 301-333 MAIN ST
PROJECT INFORMATION Developer: Tishman Speyer Sales Start Date: Jun ’06 Submarket: South Beach Sales End Date: Sep ’09 Number of Homes: 365 Avg. Absorption: 9.2 Units/Mo. HOA Fees: $630-$1,540
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
1-BED AVGS 1 809 $1,435,000 $1,774 - - 11 ACTIVE 2-BED AVGS 2 1,216 $1,847,000 $1,510 - - 47 3-BED AVGS 1 1,661 $1,868,000 $1,125 - - 28 3-BED AVGS 1 1,679 $2,950,000 $1,757 - - 138 PENDING ------1-BED AVGS 2 809 $1,404,500 $1,736 $1,362,500 $1,684 34 SOLD 2-BED AVGS 7 1,340 $2,044,571 $1,531 $1,997,000 $1,496 62 ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 54
DISTRICT 9 THE METROPOLITAN 333 & 355 1ST ST
PROJECT INFORMATION Developer: Crescent Heights Sales Start Date: Mar ’04 Submarket: South Beach Sales End Date: Feb ’05 Number of Homes: 342 Avg. Absorption: 30.4 Units/Mo. HOA Fees: $520-$650
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
STUDIO AVGS 1 - $679,000 - - - 6 ACTIVE 1-BED AVGS 1 713 $899,999 $1,262 - - 10 2-BED AVGS 4 1,260 $1,459,750 $1,216 - - 44 1-BED AVGS 1 731 $899,000 $1,230 - - 90 PENDING ------STUDIO AVGS 1 432 $529,000 $1,225 $555,000 $1,285 17 SOLD 1-BED AVGS 10 740 $896,000 $1,307 $892,350 $1,301 39 2-BED AVGS 9 1,272 $1,544,111 $1,285 $1,533,889 $1,269 46
DISTRICT 9 MADRONE 420 MISSION BAY BLVD
PROJECT INFORMATION Developer: BOSA Development Sales Start Date: Jul ’11 Submarket: Mission Bay Sales End Date: Feb ’13 Number of Homes: 329 Avg. Absorption: 17.7 Units/Mo. HOA Fees: $715-$900
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------
ACTIVE ------
------PENDING ------1-BED AVGS 3 1,022 $1,047,333 $1,025 $1,076,667 $1,054 29 SOLD ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 55
DISTRICT 9 THE BRANNAN 219-239 BRANNAN ST
PROJECT INFORMATION Developer: Reliance Development Co. Sales Start Date: Oct ’99 Submarket: South Beach Sales End Date: Jan ’03 Number of Homes: 328 Avg. Absorption: 8.3 Units/Mo. HOA Fees: $700-$825
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------2-BED AVGS 7 1,279 $1,747,714 $1,460 $1,812,071 $1,521 25 SOLD ------
DISTRICT 9 THE PALMS 555 4TH ST
PROJECT INFORMATION Developer: Cassidy Construction Sales Start Date: Nov ’05 Submarket: SOMA Sales End Date: Apr ’08 Number of Homes: 301 Avg. Absorption: 10.2 Units/Mo. HOA Fees: $300-$900
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------1-BED AVGS 4 785 $829,750 $1,094 $898,250 $1,166 24 SOLD ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 56
DISTRICT 9 THE INFINITY-TOWER II 338 SPEAR ST
PROJECT INFORMATION Developer: Tishman Speyer Sales Start Date: Feb ’09 Submarket: South Beach Sales End Date: Mar ’11 Number of Homes: 285 Avg. Absorption: 11.3 Units/Mo. HOA Fees: $700-$1,100
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
1-BED AVGS 1 - $1,495,000 - - - 53 ACTIVE 2-BED AVGS 5 1,278 $1,889,777 $1,334 - - 45 ------1-BED AVGS 1 804 $949,000 $1,180 - - 66 PENDING 2-BED AVGS 1 1,324 $1,495,000 $1,129 - - 38 ------1-BED AVGS 6 819 $1,056,333 $1,316 $1,048,167 $1,310 51 SOLD 2-BED AVGS 8 1,278 $2,410,875 $1,387 $2,333,875 $1,365 60 3-BED AVGS 2 1,672 $4,122,500 $2,445 $4,262,500 $2,531 1
DISTRICT 9 ARTERRA 300 BERRY ST
PROJECT INFORMATION Developer: Intracorp Sales Start Date: Jun ’06 Submarket: Mission Bay Sales End Date: Mar ’10 Number of Homes: 269 Avg. Absorption: 5.9 Units/Mo. HOA Fees: $400-$600
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
1-BED AVGS 2 - $889,000 - - - 16 ACTIVE 2-BED AVGS 1 917 $1,025,000 $1,118 - - 46 3-BED AVGS 1 1,319 $1,495,000 $1,133 - - 53 1-BED AVGS 1 866 $998,000 $1,152 - - 53 PENDING ------1-BED AVGS 9 708 $832,667 $1,163 $871,333 $1,220 8 SOLD 2-BED AVGS 5 1,173 $1,260,800 $1,098 $1,280,000 $1,108 20 3-BED AVGS 1 1,278 $1,280,000 $1,002 $1,388,000 $1,086 28
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 57
DISTRICT 9 ARDEN 718 LONG BRIDGE ST
PROJECT INFORMATION Developer: BOSA Development Sales Start Date: May ’14 Submarket: Mission Bay Sales End Date: Jan ’15 Number of Homes: 267 Avg. Absorption: 43.4 Units/Mo. HOA Fees: $700-$900
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------SOLD ------
DISTRICT 9 SOMA GRAND 1160 MISSION ST
PROJECT INFORMATION Developer: AGI Capital / TMG Partners Sales Start Date: Mar ’07 Submarket: SOMA Sales End Date: Jun ’10 Number of Homes: 246 Avg. Absorption: 6.2 Units/Mo. HOA Fees: $500-$730
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
1-BED AVGS 1 764 $938,000 $1,228 - - 31 ACTIVE 2-BED AVGS 1 1,146 $1,499,000 $1,308 - - 44 ------PENDING ------1-BED AVGS 7 732 $772,779 $1,058 $800,429 $1,095 44 SOLD 2-BED AVGS 6 1,152 $1,294,000 $1,132 $1,319,883 $1,159 48 ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 58
DISTRICT 9 888 SEVENTH STREET 888 7TH ST
PROJECT INFORMATION Developer: AF Evans Sales Start Date: Jun ’06 Submarket: Potrero Hill Sales End Date: Mar ’09 Number of Homes: 224 Avg. Absorption: 6.7 Units/Mo. HOA Fees: $300-$470
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------STUDIO AVGS 1 495 $580,000 $1,172 $580,000 $1,172 44 SOLD ------
DISTRICT 9 140 SOUTH VAN NESS 140 S. VAN NESS AVE
PROJECT INFORMATION Developer: Chariot SVN Sales Start Date: Nov ’02 Submarket: SOMA Sales End Date: Jan ’04 Number of Homes: 208 Avg. Absorption: 14.6 Units/Mo. HOA Fees: $280-$360
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------2-BED AVGS 2 1,115 $849,000 $761 - - 78 PENDING ------1-BED AVGS 3 807 $679,667 $842 $716,667 $889 29 SOLD 2-BED AVGS 7 1,137 $959,714 $846 $977,071 $861 35 ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 59
DISTRICT 9 170 OFF THIRD 170 KING ST
PROJECT INFORMATION Developer: Security Properties Sales Start Date: Feb ’07 Submarket: South Beach Sales End Date: Sep ’09 Number of Homes: 201 Avg. Absorption: 6.4 Units/Mo. HOA Fees: $515-$630
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
STUDIO AVGS 1 484 $625,000 $1,291 - - 3 ACTIVE 1-BED AVGS 1 815 $898,000 $1,102 - - 18 ------PENDING ------STUDIO AVGS 2 416 $559,450 $1,250 $569,500 $1,298 28 SOLD 1-BED AVGS 2 717 $799,000 $1,118 $812,000 $1,137 66 2-BED AVGS 8 1,015 $1,181,875 $1,156 $1,254,063 $1,225 29
DISTRICT 9 YERBA BUENA LOFTS 855 FOLSOM ST
PROJECT INFORMATION Developer: Ed Tansev Sales Start Date: Mar ’01 Submarket: SOMA Sales End Date: May ’05 Number of Homes: 200 Avg. Absorption: 3.9 Units/Mo. HOA Fees: $400-$550
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
1-BED AVGS 1 1,094 $995,000 $910 - - 5 ACTIVE 2-BED AVGS 2 1,128 $858,063 $1,108 - - 59 ------1-BED AVGS 1 - $949,000 - - - 73 PENDING ------1-BED AVGS 6 - $898,333 - $956,917 - 38 SOLD 2-BED AVGS 4 1,092 $916,372 $825 $1,035,372 $924 50 ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 60
DISTRICT 9 199 NEW MONTGOMERY 199 NEW MONTGOMERY ST
PROJECT INFORMATION Developer: Monahan Pacifi c Sales Start Date: Feb ’05 Submarket: Yerba Buena Sales End Date: Dec ’06 Number of Homes: 166 Avg. Absorption: 7.6 Units/Mo. HOA Fees: $400-$550
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------STUDIO AVGS 2 412 $564,500 $1,370 - - 29 PENDING ------1-BED AVGS 6 753 $837,333 $1,094 $872,667 $1,141 22 SOLD 2-BED AVGS 1 971 $1,098,000 $1,131 $1,150,000 $1,184 17 ------
DISTRICT 9 ONE HAWTHORNE 1 HAWTHORNE ST
PROJECT INFORMATION Developer: Jackson Pacifi c Ventures Sales Start Date: Apr ’10 Submarket: SOMA - Yerba Buena Sales End Date: May ’13 Number of Homes: 165 Avg. Absorption: 4.4 Units/Mo. HOA Fees: $450-$650
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
2-BED AVGS 1 1,956 $3,795,000 $1,940 - - 88 ACTIVE 3-BED AVGS 1 1,995 $3,695,000 $1,852 - - 165 ------PENDING ------1-BED AVGS 2 878 $974,500 $1,110 $952,500 $1,084 94 SOLD 2-BED AVGS 4 1,280 $1,668,500 $1,305 $1,643,750 $1,285 56 ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 61
DISTRICT 9 THE POTRERO 451 KANSAS ST
PROJECT INFORMATION Developer: Lambert Development Sales Start Date: Feb ’07 Submarket: Potrero Hill Sales End Date: Mar ’09 Number of Homes: 165 Avg. Absorption: 6.5 Units/Mo. HOA Fees: $380-$580
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------2-BED AVGS 1 969 $1,099,000 $1,134 - - 19 PENDING ------STUDIO AVGS 2 - $609,000 - $640,000 - 32 SOLD 1-BED AVGS 6 756 $788,250 $1,053 $808,583 $1,078 47 2-BED AVGS 6 1,019 $1,085,500 $1,040 $1,171,333 $1,170 25
DISTRICT 9 FOUR SEASONS RESIDENCES 765 MARKET ST
PROJECT INFORMATION Developer: Millennium Partners Sales Start Date: Mar ’00 Submarket: Yerba Buena Sales End Date: Dec ’04 Number of Homes: 142 Avg. Absorption: 2.4 Units/Mo. HOA Fees: $1,200-$2,200
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
1-BED AVGS 1 947 $1,785,000 $1,885 - - 32 ACTIVE 3-BED AVGS 3 3,225 $6,576,667 $1,998 - - 50 4-BED AVGS 1 3,594 $6,556,500 $1,824 - - 181 ------PENDING ------1-BED AVGS 1 1,004 $1,550,000 $1,544 $1,415,000 $1,409 339 SOLD 2-BED AVGS 1 1,434 $2,895,000 $2,019 $2,800,000 $1,953 26 3-BED AVGS 1 2,677 $5,250,000 $1,961 $4,750,000 $1,774 32
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 62
DISTRICT 9 THE WATERMARK 501 BEALE ST
PROJECT INFORMATION Developer: Lend Lease Sales Start Date: Mar ’06 Submarket: South Beach Sales End Date: Oct ’06 Number of Homes: 136 Avg. Absorption: 17.7 Units/Mo. HOA Fees: $645-$890
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
2-BED AVGS 1 1,259 $1,898,000 $1,508 - - 31 ACTIVE ------PENDING ------1-BED AVGS 1 759 $799,000 $1,053 $875,000 $1,153 29 SOLD 2-BED AVGS 2 1,210 $1,524,000 $1,269 $1,612,500 $1,346 35 ------
DISTRICT 9 VIDA 2558 MISSION ST
PROJECT INFORMATION Developer: Oyster Development Sales Start Date: Mar ’14 Submarket: Inner Mission Sales End Date: Jun ‘15 Number of Homes: 114 Avg. Absorption: 7.4 Units/Mo. HOA Fees: $430-$620
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------SOLD ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 63
DISTRICT 9 BLU 631 FOLSOM ST
PROJECT INFORMATION Developer: Lennar Urban Sales Start Date: May ’08 Submarket: Yerba Buena Sales End Date: Oct ’12 Number of Homes: 114 Avg. Absorption: 2.0 Units/Mo. HOA Fees: $370-$420
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
1-BED AVGS 4 1,145 $935,750 $809 - - 49 ACTIVE 3-BED AVGS 1 2,623 $3,695,000 $1,409 - - 114 ------2-BED AVGS 1 1,070 $1,300,000 $1,215 - - 30 PENDING ------1-BED AVGS 3 1,113 $897,000 $807 $947,667 $853 23 SOLD 2-BED AVGS 5 1,152 $1,418,800 $1,233 $1,405,600 $1,220 39 ------
DISTRICT 9 PARK TERRACE 325 BERRY ST
PROJECT INFORMATION Developer: Opus West Sales Start Date: Jun ’06 Submarket: Mission Bay Sales End Date: Dec ’08 Number of Homes: 110 Avg. Absorption: 3.6 Units/Mo. HOA Fees: $430-$550
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
2-BED AVGS 1 1,589 $1,675,000 $1,054 - - 36 ACTIVE ------PENDING ------1-BED AVGS 1 907 $899,000 $991 $1,000,000 $1,103 18 SOLD 2-BED AVGS 2 1,439 $1,412,250 $991 $1,440,500 $1,011 51 ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 64
DISTRICT 9 88 TOWNSEND 88 TOWNSEND ST
PROJECT INFORMATION Developer: Rosenberg Co. Sales Start Date: Jul ’04 Submarket: South Beach Sales End Date: Nov ’06 Number of Homes: 109 Avg. Absorption: 3.8 Units/Mo. HOA Fees: $400-$575
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
1-BED AVGS 2 869 $1,064,000 $1,228 - - 13 ACTIVE 2-BED AVGS 1 1,219 $1,429,000 $1,172 - - 17 3-BED AVGS 1 1,740 $3,549,000 $2,040 - - 130 2-BED AVGS 3 1,158 $1,407,667 $1,217 - - 85 PENDING ------1-BED AVGS 18 807 $1,033,388 $1,322 $1,036,704 $1,336 16 SOLD 2-BED AVGS 18 1,170 $1,604,418 $1,378 $1,603,863 $1,377 4 3-BED AVGS 1 1,722 $4,064,798 $2,361 $4,064,798 $2,361 -
DISTRICT 9 THE MONTGOMERY 74 NEW MONTGOMERY ST
PROJECT INFORMATION Developer: New Urban Properties Sales Start Date: Jan ’07 Submarket: Yerba Buena Sales End Date: Dec ’09 Number of Homes: 107 Avg. Absorption: 3.0 Units/Mo. HOA Fees: $625-$875
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
1-BED AVGS 1 792 $869,000 $1,097 - - 31 ACTIVE 2-BED AVGS 2 1,038 $1,297,500 $1,259 - - 57 ------PENDING ------STUDIO AVGS 1 698 $698,000 $1,000 $750,000 $1,074 10 SOLD 1-BED AVGS 2 673 $797,000 $1,186 $842,500 $1,253 36 ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 65
DISTRICT 9 ST. REGIS RESIDENCES 188 MINNA ST
PROJECT INFORMATION Developer: Carpenter & Co. Sales Start Date: Sep ’04 Submarket: Yerba Buena Sales End Date: Dec ’06 Number of Homes: 102 Avg. Absorption: 3.8 Units/Mo. HOA Fees: $1,600-$2,200
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
2-BED AVGS 1 1,670 $3,200,000 $1,916 - - 55 ACTIVE ------PENDING ------2-BED AVGS 3 1,757 $3,356,667 $1,905 $3,341,667 $1,897 51 SOLD ------
DISTRICT 9 RADIANCE 330 MISSION BAY BLVD
PROJECT INFORMATION Developer: BOSA Development Sales Start Date: Mar ’07 Submarket: Mission Bay Sales End Date: Dec ’09 Number of Homes: 99 Avg. Absorption: 3.0 Units/Mo. HOA Fees: $640-$750
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------1-BED AVGS 1 850 $878,000 $1,033 $918,000 $1,080 21 SOLD ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 66
DISTRICT 9 235 BERRY 235 BERRY ST
PROJECT INFORMATION Developer: Signature Properties Sales Start Date: Sep ’06 Submarket: Mission Bay Sales End Date: Feb ’08 Number of Homes: 99 Avg. Absorption: 5.7 Units/Mo. HOA Fees: $500-$600
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------2-BED AVGS 2 1,264 $1,292,000 $1,023 - - 24 PENDING ------1-BED AVGS 1 1,045 $949,000 $908 $1,100,000 $1,053 13 SOLD 2-BED AVGS 8 1,214 $1,398,125 $1,136 $1,507,750 $1,235 19 3-BED AVGS 2 2,293 $2,097,500 $959 $2,150,000 $959 16
DISTRICT 9 CUBIX 766 HARRISON ST
PROJECT INFORMATION Developer: First Citizens Bank Sales Start Date: Aug ’08 Submarket: SOMA Sales End Date: Aug ’11 Number of Homes: 98 Avg. Absorption: 2.7 Units/Mo. HOA Fees: $265-$280
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------STUDIO AVGS 1 264 $431,000 $1,633 - - - PENDING ------STUDIO AVGS 2 267 $407,000 $1,530 $425,000 $1,597 10 SOLD ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 67
DISTRICT 9 THE LANSING 40-45 LANSING ST
PROJECT INFORMATION Developer: Lambert Development Sales Start Date: Jul ’05 Submarket: Rincon Hill Sales End Date: Mar ’06 Number of Homes: 82 Avg. Absorption: 10.1 Units/Mo. HOA Fees: $500-$600
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
2-BED AVGS 3 1,066 $1,172,667 $1,079 - - 58 ACTIVE ------PENDING ------1-BED AVGS 3 766 $787,333 $1,046 $827,000 $1,071 28 SOLD 2-BED AVGS 3 1,194 $1,331,333 $1,116 $1,316,667 $1,105 26 ------
DISTRICT 9 SHIPLEY SQUARE 821 FOLSOM ST
PROJECT INFORMATION Developer: Wilson Meany Sales Start Date: Apr ’05 Submarket: SOMA Sales End Date: Oct ’05 Number of Homes: 78 Avg. Absorption: 12.8 Units/Mo. HOA Fees: $300-$450
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------1-BED AVGS 2 687 $732,000 $1,069 - - 84 PENDING ------STUDIO AVGS 1 557 $675,000 $1,212 $675,000 $1,212 33 SOLD 1-BED AVGS 4 701 $756,500 $1,040 $851,750 $1,161 29 2-BED AVGS 3 999 $1,144,667 $1,145 $1,245,000 $1,257 17
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 68
DISTRICT 9 UNION 2125 BRYANT ST
PROJECT INFORMATION Developer: Palisades Sales Start Date: Sep ’09 Submarket: Inner Mission Sales End Date: Sep ’10 Number of Homes: 76 Avg. Absorption: 6.2 Units/Mo. HOA Fees: $360-$540
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------1-BED AVGS 1 557 $625,000 $1,122 - - 17 PENDING ------1-BED AVGS 2 759 $750,000 $995 $882,500 $1,184 21 SOLD 2-BED AVGS 1 1,240 $1,199,000 $967 $1,375,000 $1,109 5 ------
DISTRICT 9 ESPRIT PARK-SOUTH 900 MINNESOTA ST
PROJECT INFORMATION Developer: Macquarie Holdings Sales Start Date: Oct ’07 Submarket: Dogpatch Sales End Date: Sep ’11 Number of Homes: 75 Avg. Absorption: 1.6 Units/Mo. HOA Fees: $400-$500
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------SOLD ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 69
DISTRICT 9 ESPRIT PARK-NORTH 850 MINNESOTA ST
PROJECT INFORMATION Developer: Macquarie Holdings Sales Start Date: Aug ’11 Submarket: Dogpatch Sales End Date: Jul ’12 Number of Homes: 67 Avg. Absorption: 6.1 Units/Mo. HOA Fees: $400-$500
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
1-BED AVGS 1 852 $869,000 $1,020 - - - ACTIVE 2-BED AVGS 1 1,659 $1,659,000 $1,000 - - 21 ------PENDING ------1-BED AVGS 7 937 $920,429 $990 $976,429 $1,048 15 SOLD 2-BED AVGS 3 1,237 $1,176,667 $951 $1,225,000 $990 17 ------
DISTRICT 9 SIERRA HEIGHTS 25 SIERRA ST
PROJECT INFORMATION Developer: R Group Sales Start Date: Jun ’06 Submarket: Potrero Hill Sales End Date: Nov ’06 Number of Homes: 66 Avg. Absorption: 12.8 Units/Mo. HOA Fees: $440-$605
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------3-BED AVGS 2 1,804 $1,349,000 $749 $1,663,039 $922 12 SOLD ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 70
DISTRICT 9 555 BARTLETT 3420 CESAR CHAVEZ ST
PROJECT INFORMATION Developer: Seven Hills Properties Sales Start Date: Mar ’10 Submarket: Inner Mission Sales End Date: May ’11 Number of Homes: 60 Avg. Absorption: 4.4 Units/Mo. HOA Fees: $320-$535
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------SOLD ------
DISTRICT 9 THE MINT COLLECTION 410 JESSIE ST
PROJECT INFORMATION Developer: Martin Building Company Sales Start Date: Jan ’07 Submarket: SOMA Sales End Date: Mar ’08 Number of Homes: 52 Avg. Absorption: 3.6 Units/Mo. HOA Fees: $355-$790
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
1-BED AVGS 1 1,242 $1,295,000 $1,043 - - 53 ACTIVE 2-BED AVGS 1 2,653 $2,850,000 $1,074 - - 7 ------1-BED AVGS 1 1,104 $1,195,000 $1,082 - - 26 PENDING ------1-BED AVGS 3 753 $973,333 $1,295 $960,833 $1,282 10 SOLD 2-BED AVGS 2 1,109 $1,287,000 $1,180 $1,235,000 $1,129 25 ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 71
DISTRICT 9 1 ECKER 16 JESSIE ST
PROJECT INFORMATION Developer: The Pauls Corp. Sales Start Date: Oct ’10 Submarket: Yerba Buena Sales End Date: May ’11 Number of Homes: 51 Avg. Absorption: 7.4 Units/Mo. HOA Fees: $425-$700
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
1-BED AVGS 1 1,313 $1,199,500 $914 - - 53 ACTIVE 2-BED AVGS 1 1,046 $1,375,000 $1,315 - - 39 ------STUDIO AVGS 1 444 $649,000 $1,462 - - 33 PENDING ------1-BED AVGS 2 880 $1,024,000 $1,166 $1,034,000 $1,177 32 SOLD ------
DISTRICT 9 310 TOWNSEND 310 TOWNSEND ST
PROJECT INFORMATION Developer: Santa Fe Properties Sales Start Date: Mar ’06 Submarket: South Beach Sales End Date: Mar ’09 Number of Homes: 45 Avg. Absorption: 1.2 Units/Mo. HOA Fees: $250-$345
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
1-BED AVGS 1 803 $789,000 $983 - - 25 ACTIVE ------PENDING ------1-BED AVGS 5 832 $839,000 $1,011 $905,200 $1,087 23 SOLD 2-BED AVGS 1 1,238 $1,149,000 $928 $1,120,000 $905 63 ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 72
DISTRICT 9 FIFTEEN FIFTEEN 1515 15TH ST
PROJECT INFORMATION Developer: JS Sullivan Development Sales Start Date: May ’14 Submarket: Mission District Sales End Date: Aug ’14 Number of Homes: 40 Avg. Absorption: 9.8 Units/Mo. HOA Fees: $400-$450
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------SOLD ------
DISTRICT 9 MISSION @ 1875 1875 MISSION ST
PROJECT INFORMATION Developer: Corvorn Properties, LLC Sales Start Date: Oct ’14 Submarket: Inner Mission Sales End Date: Aug ’15 Number of Homes: 39 Avg. Absorption: 3.8 Units/Mo. HOA Fees: $400-$450
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------SOLD ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 73
DISTRICT 9 MILLWHEEL NORTH 1265 INDIANA ST
PROJECT INFORMATION Developer: R Group Sales Start Date: May ’14 Submarket: Dogpatch Sales End Date: Jan ’15 Number of Homes: 39 Avg. Absorption: 6.2 Units/Mo. HOA Fees: $400-$450
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------SOLD ------
DISTRICT 9 299 VALENCIA 299 VALENCIA ST
PROJECT INFORMATION Developer: JS Sullivan Development Sales Start Date: Mar ’12 Submarket: Inner Mission Sales End Date: Jul ’12 Number of Homes: 36 Avg. Absorption: 8.9 Units/Mo. HOA Fees: $315-$405
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
2-BED AVGS 1 823 $949,000 $1,153 - - 60 ACTIVE ------PENDING ------2-BED AVGS 2 - $887,250 - $904,750 - 37 SOLD ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 74
DISTRICT 9 ONE SOUTH PARK 1 S. PARK AVE
PROJECT INFORMATION Developer: Santa Fe Partners Sales Start Date: Dec ’05 Submarket: South Beach Sales End Date: Sep ’09 Number of Homes: 35 Avg. Absorption: 0.8 Units/Mo. HOA Fees: $425-$575
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------1-BED AVGS 1 928 $895,000 $964 $1,090,000 $1,175 13 SOLD 2-BED AVGS 1 - $1,598,000 - $1,750,000 - 36 ------
DISTRICT 9 MOSAICA 601 601 ALABAMA ST
PROJECT INFORMATION Developer: Citizens Housing Corp. Sales Start Date: Feb ’09 Submarket: Inner Mission Sales End Date: Aug ’09 Number of Homes: 34 Avg. Absorption: 5.6 Units/Mo. HOA Fees: $475-$505
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------3-BED AVGS 2 1,453 $997,000 $754 $1,240,000 $895 28 SOLD ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 75
DISTRICT 9 35 DOLORES 35 DOLORES ST
PROJECT INFORMATION Developer: Lightner Property Group Sales Start Date: Aug ’14 Submarket: Mission Dolores Sales End Date: Feb ’15 Number of Homes: 33 Avg. Absorption: 6.3 Units/Mo. HOA Fees: $310-$415
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------SOLD ------
DISTRICT 9 MILLWHEEL SOUTH 1301 INDIANA ST
PROJECT INFORMATION Developer: R Group Sales Start Date: May ’12 Submarket: Dogpatch Sales End Date: Jun ’12 Number of Homes: 32 Avg. Absorption: 18.2 Units/Mo. HOA Fees: $350-$410
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------1-BED AVGS 1 1,020 $1,099,000 $1,077 - - 60 PENDING ------1-BED AVGS 5 999 $919,200 $931 $917,000 $929 16 SOLD 2-BED AVGS 1 943 $1,099,000 $1,165 $1,080,000 $1,145 38 ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 76
DISTRICT 9 THE CITRINO 566 S. VAN NESS AVE
PROJECT INFORMATION Developer: Dolmen Property Group Sales Start Date: Jul ’07 Submarket: Inner Mission Sales End Date: Apr ’11 Number of Homes: 32 Avg. Absorption: 0.7 Units/Mo. HOA Fees: $275-$375
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------1-BED AVGS 1 860 $845,000 $983 $885,000 $1,029 33 SOLD 2-BED AVGS 2 887 $837,000 $951 $922,500 $1,043 60 ------
DISTRICT 9 THE OLYMPIA 501 DONAHUE ST
PROJECT INFORMATION Developer: Lennar Urban Sales Start Date: May ’14 Submarket: Hunters Point Sales End Date: Sep ’14 Number of Homes: 25 Avg. Absorption: 6.1 Units/Mo. HOA Fees: $400
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------SOLD ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 77
DISTRICT 9 VALENCIA 270 270 VALENCIA ST
PROJECT INFORMATION Developer: Brian Spiers Development Sales Start Date: Aug ’05 Submarket: Inner Mission Sales End Date: Feb ’06 Number of Homes: 24 Avg. Absorption: 3.4 Units/Mo. HOA Fees: $250-$285
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------2-BED AVGS 2 744 $799,000 $1,075 $897,500 $1,207 20 SOLD ------
DISTRICT 9 2200 MISSION ST 2200 MISSION ST
PROJECT INFORMATION Developer: H & A Investments Sales Start Date: Feb ’09 Submarket: Inner Mission Sales End Date: Aug ’09 Number of Homes: 23 Avg. Absorption: 3.8 Units/Mo. HOA Fees: $325-$525
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------2-BED AVGS 1 833 $799,000 $959 $826,000 $992 31 SOLD 3-BED AVGS 1 1,173 $975,000 $831 $1,150,000 $980 77 ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 78
DISTRICT 9 870 HARRISON 870 HARRISON ST
PROJECT INFORMATION Developer: JS Sullivan Development Sales Start Date: Oct ’14 Submarket: SOMA Sales End Date: Mar ’15 Number of Homes: 22 Avg. Absorption: 3.6 Units/Mo. HOA Fees: $500
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------SOLD ------
DISTRICT 9 788 MINNA 788 MINNA ST
PROJECT INFORMATION Developer: Eamonn Herlihy Sales Start Date: Jul ’11 Submarket: SOMA Sales End Date: Feb ’12 Number of Homes: 20 Avg. Absorption: 3.2 Units/Mo. HOA Fees: $390-$410
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
2-BED AVGS 1 1,460 $1,199,000 $821 - - 38 ACTIVE ------PENDING ------2-BED AVGS 1 1,498 $1,200,000 $801 $1,200,000 $801 31 SOLD ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 79
DISTRICT 9 ONYX 415 DE HARO ST
PROJECT INFORMATION Developer: Sean Keighran Sales Start Date: Apr ’14 Submarket: Potrero Hill Sales End Date: Jul ’14 Number of Homes: 20 Avg. Absorption: 10.9 Units/Mo. HOA Fees: $350-$485
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------1-BED AVGS 1 889 $999,000 $1,124 - - 105 PENDING ------SOLD ------
DISTRICT 9 V20 3590 20TH ST
PROJECT INFORMATION Developer: Brown & Co. Sales Start Date: May ’15 Submarket: Inner Mission Sales End Date: Aug ’15 Number of Homes: 18 Avg. Absorption: 5.5 Units/Mo. HOA Fees:
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------SOLD ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 80
DISTRICT 9 3500 19TH STREET 3500 19TH ST
PROJECT INFORMATION Developer: Tom Murphy Sales Start Date: Oct ’12 Submarket: Inner Mission Sales End Date: Jan ’14 Number of Homes: 17 Avg. Absorption: 9.0 Units/Mo. HOA Fees: $450
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------2-BED AVGS 3 1,575 $2,163,000 $1,079 $2,060,000 $1,098 40 SOLD 3-BED AVGS 1 1,450 $1,150,000 $793 $1,400,000 $966 13 ------
DISTRICT 9 411 VALENCIA ST 411 VALENCIA ST
PROJECT INFORMATION Developer: Phillip McCarthy Sales Start Date: Oct ’12 Submarket: Inner Mission Sales End Date: Feb ’13 Number of Homes: 16 Avg. Absorption: 5.6 Units/Mo. HOA Fees: $425-$460
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------SOLD ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 81
DISTRICT 9 616 20TH STREET 616 20TH ST
PROJECT INFORMATION Developer: 616 20th Street Homes, LLC Sales Start Date: Oct ’13 Submarket: Dogpatch Sales End Date: Dec ’13 Number of Homes: 16 Avg. Absorption: 14.0 Units/Mo. HOA Fees: $440
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------2-BED AVGS 1 744 $888,000 $1,194 $900,000 $1,210 24 SOLD ------
DISTRICT 9 750 2ND 750 2ND ST
PROJECT INFORMATION Developer: Phillip McCarthy Sales Start Date: Oct ’12 Submarket: Inner Mission Sales End Date: Feb ’13 Number of Homes: 16 Avg. Absorption: 5.6 Units/Mo. HOA Fees: $425-$460
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------2-BED AVGS 2 1,568 $2,235,230 $1,433 $2,235,230 $1,433 2 SOLD ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 82
PAST RESALE DEVELOPMENTS
DISTRICT 10
PROJECT NAME ADDRESS DEVELOPER UNITS
CANDLESTICK POINT 301-501 CRESCENT WY TOP VISION DEVELOPMENT 176
TIDES & THAYER SHIPYARD SAN FRANCISCO SHIPYARD LENNAR URBAN 159
CANDLESTICK COVE 101 EXECUTIVE PARK BLVD SIGNATURE PROPERTIES 150
5800 THIRD STREET 5800 THIRD ST HOLLIDAY DEVELOPMENT 137
BAYSIDE VISTA 188 MARY TERESA WY BAYSIDE VISTA, LLC 64
THE MERCHANT 451 DONAHUE ST LENNAR URBAN 63
TOTAL 749
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 83
DISTRICT 10 CANDLESTICK POINT 301-501 CRESCENT WY
PROJECT INFORMATION Developer: Top Vision Development Sales Start Date: Jul ’06 Submarket: Candlestick Point Sales End Date: Jul ’10 Number of Homes: 176 Avg. Absorption: 4.1 Units/Mo. HOA Fees: $300-$350
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
2-BED AVGS 2 998 $659,500 $670 - - 32 ACTIVE ------PENDING ------1-BED AVGS 2 805 $467,720 $581 $483,276 $600 94 SOLD 2-BED AVGS 2 1,073 $662,000 $629 $693,500 $638 38 ------
DISTRICT 10 TIDES & THAYER SHIPYARD SAN FRANCISCO SHIPYARD
PROJECT INFORMATION Developer: Lennar Urban Sales Start Date: May ’15 Submarket: Hunters Point Sales End Date: Aug ’15 Number of Homes: 159 Avg. Absorption: 51.5 Units/Mo. HOA Fees: $215-$420
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------SOLD ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 84
DISTRICT 10 CANDLESTICK COVE 5800 THIRD ST
PROJECT INFORMATION Developer: Signature Properties Sales Start Date: Oct ’07 Submarket: Candlestick Point Sales End Date: Dec ’13 Number of Homes: 150 Avg. Absorption: 2.0 Units/Mo. HOA Fees: $450-$575
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------SOLD ------
DISTRICT 10 5800 THIRD ST 5800 THIRD ST
PROJECT INFORMATION Developer: Holliday Development Sales Start Date: Jun ’10 Submarket: Bayview Sales End Date: Mar ’13 Number of Homes: 137 Avg. Absorption: 4.1 Units/Mo. HOA Fees: $335-$500
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------SOLD ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 85
DISTRICT 10 BAYSIDE VISTA 188 MARY TERESA ST
PROJECT INFORMATION Developer: BaySide Vista, LLC Sales Start Date: Jun ’09 Submarket: Visitacion Valley Sales End Date: Jul ’09 Number of Homes: 64 Avg. Absorption: 2.5 Units/Mo. HOA Fees: $200-$225
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------2-BED AVGS 1 1,333 $650,000 $488 $785,000 $589 16 SOLD ------
DISTRICT 10 THE MERCHANT 451 DONAHUE ST
PROJECT INFORMATION Developer: Lennar Urban Sales Start Date: May ’14 Submarket: Hunters Point Sales End Date: Jan ’15 Number of Homes: 63 Avg. Absorption: 9.4 Units/Mo. HOA Fees: $400
MLS MARKET ACTIVITY (PAST 12 MONTHS)
STATUS TYPE #LISTINGS SIZE SF LIST PRICE LIST PSF SOLD PRICE SOLD PSF DOM
------ACTIVE ------PENDING ------SOLD ------
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 86
ABOUT POLARIS PACIFIC
Polaris Pacific is the West Coast sales and marketing firm Use of Product. for the new economy. Polaris Pacific celebrates over 30 All information, data, projections and recommendations years of legacy, experience and results combined with the received by Client from Polaris Pacific, whether presented latest in marketing strategies, technology and research. orally or in writing, shall be solely for use by Client and is/ are not to be used or relied upon by any third party(ies) Our foremost goal is to align ourselves with the needs without the prior written approval of Polaris Pacific having and wants of our developer clients. We do this through been first had and obtained. our unparalleled expertise, innovation and execution. This razor-sharp focus allows Polaris Pacific to consistently Currently representing sales and marketing for: outperform competitors and maximize value at every step of the process. That’s why leading real estate 6 Mint Plaza San Francisco, CA 25 Units developers and financial partners such as Canyon Capital 1400 Mission San Francisco, CA 190 Units Realty Advisors, Lennar Urban, Emerald Fund, The Pauls The Burton & Livingston Pasadena, CA 16 Units Corporation, Oyster Development and Trumark Urban rely Colorado Commons Monrovia, CA 72 Units on our unrivaled understanding of market intelligence, 20 Pines Daly City, CA 25 Units homebuyer dynamics and local market nuances to The Globe San Jose, CA 76 Units increase bottom line profits. Lumina San Francisco, CA 656 Units Rockwell San Francisco, CA 260 Units From land acquisition, entitlement and architectural review The Shores Point Richmond, CA 333 Units to brand development, market launches and cutting edge Skyline San Jose, CA 121 Units marketing technologies, Polaris Pacific analyzes each new The Strand San Rafael, CA 81 Units property to maximize opportunities every step of the way. Summit 800 San Francisco, CA 182 Units Long-term client relationships are a testament to Polaris 1450 Franklin San Francisco, CA 67 Units Pacific’s extensive experience, results-driven focus and Ten50 Los Angeles, CA 151 Units ability to exceed expectation. The Arroyo Walnut Creek, CA 100 Units The Pacific San Francisco, CA 76 Units Our team brings unparalleled experience in sales and Knox San Francisco, CA 91 Units marketing in all major markets on the West Coast. One Franklin San Francisco, CA 35 Units 1198 Valencia San Francisco, CA 50 Units DISCLAIMER Rowan San Francisco, CA 70 Units 1001 Van Ness San Francisco, CA 256 Units Professional Opinion. 482 Arroyo Pasadena, CA 24 Units With regard to the consulting services, reports, projections Optima Kierland Scottsdale, AZ 220 Units and recommendations provided by Polaris Pacific, whether delivered orally or in writing, the parties acknowledge that the matters on which Polaris Pacific is consulted are not For more information on Polaris Pacific, the subject of a predictive science and are instead subject visit polarispacific.com. to unforeseen market variables and conditions. Client therefore understands and acknowledges that Polaris COPYRIGHT © 2016 POLARIS PACIFIC Pacific’s projections and recommendations are solely the result of Polaris Pacific’s considered opinion based on Polaris Pacific’s assumptions and judgments predicated on past experience in light of the relevant data studied with respect to the market conditions and the proposed project.
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC PAGE 87
For more market insights contact: MILES GARBER VICE PRESIDENT OF RESEARCH
850 7th Street San Francisco, CA 94107 P: 415.361.4805 www.polarispacific.com
SAN FRANCISCO MARKET REPORT, SEPTEMBER 2016