SAN FRANCISCO RESIDENTIAL DEVELOPMENT

APRIL 2016 NAVIGATION Click page numbers to be taken directly to page

NEWS & MARKET CURRENTLY HIGHLIGHTS PERFORMANCE SELLING

NEWS AND HIGHLIGHTS MARKET PERFORMANCE CURRENTLY SELLING

Median $/SqFt Currently Year-Over-Year Month-Over-Month CURRENTLY SELLING... Luxe New Condominiump. $1,218/SqFt + 15% p. + 2% p. Nearly half of second phase is under contract. Price per square foot3 is 4 1650 Broadway at Van5 Ness | Pacific Heights Shipyard’s Resale Condominium $1,042/SqFt + 11% + 2% averaging approximately $760. The first phase averaged approximately $660 per Status: 34 units available/0 in-contract/0 closed square foot. New Apartment $5.10/SqFt + 7% N/A Pre-sale: August 2015 Closings anticipated: Q1 2016 Less than 100 units remain available at The Rockwell. Current absorption surpasses Project info: 34 units, 7-stories, 34 parking spaces 30 units a month. NEW CONDOMINIUM PRICING & VOLUME Developer: Belrich Partners Sales are expected to commence this month at the second phase of Onyx , consisting Architect: Forum Design of 21 condominiums. Median Price & Closing Volume Interior Design: Edmonds + Lee Features & Finishes: Marble tile and zinc facade, Floor- Closings have commenced at Lumina’s Plaza A. Price per square$1,200,000 foot is averaging 180 approximately $1,500. to-ceiling windows, Bay and Golden Gate views, Studio 160 Click development to be taken directly to page $1,000,000 Becker Cabinetry, Mobile kitchen islands, Caesarstone 140 Most Recent Quarter countertops, Subzero refrigerators, Thermador ap- $800,000 120 pliances, Uline wine coolers, Duravit and Hansgrohe ONE MISSION BAY THE HARRISON100 THEMedian: $1,000,000PACIFIC 388 FULTON 450 HAYES PROPOSED... $600,000 fixtures, Victoria + Albert limestone soaking tubs, 80 Frameless glass showers; Penthouses only: Gas fire- 131 Group Housing untis have been proposed for 1798 Bryant THEStreet$400,000 at DISTRICT 17th. The 7-story 1001 17TH LUMINA60 ROCKWELLUnits Closed: LUXE 52 FULTON places,555 Walk-in 72 pantriesTOWNSEND and closets, Calacatta marble,

project will offer a shared kitchen as amenity space. 40 Number Closed Custom millwork Median Sale Price $200,000 SHIPYARD II SUMMIT20 800Units Available: 6 MINT 758* 400 GROVE 36 Group Housing units have been proposed for 45 Dore Street in Western SOMA. The Amenities: Lounge, Two-story lobby project has not proposed any car parking, and will include a communal$0 living space. 0 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Website: Luxe-SF.com A six-story building has been proposed for 1075 Folsom Street at 7th. The project consistsMedian Sale of Price # Closings 34 units, 15 car spaces and 40 bicycle spaces. Panoramic Interests has proposed two five-story buildings at 333 12th Street at Folsom. 182 * As of September 2015; Restricted units have been proposed, along with 182 bicycle spacesRESALE andSOLD-OUT no carCONDOMINIUM parking. PRICING & & VOLUME UPCOMINGby phased marketing releases PIPELINE 77 units have been proposed for 552 Brannan Street at 4th. The Project proposes 34 car spaces and 80 bicycle spaces. RESALEMedian Price & Closing Volume DEVELOPMENTS SUMMARY 700 $1,150,000 600 CLICK TO RETURN TO THE $1,100,000NAVIGATION PAGE CLICK TO RETURN TO THE NAVIGATION PAGE CITY PLANNING... AFFORDABLE HOUSING BONUS PROGRAM Most Recent Quarter 500 PIPELINE$1,050,000 SUMMARY What is the Affordable Housing Bonus Program (AHBP)?400 This new City Program aims to increase Median: $1,111,250 the supply of affordable housing, by increasing allowable residential density and height limits. $1,000,000 300 Developers who provide 30 percent (or greater) affordable units will be relieved Approved,$950,000 UnderUnits Review Closed: and 560 Conceptual How does it work? 200 Sales of density limits, and be allowed to build two additional residential stories.MISSION@1875p. The affordable units Development p. Area Developer / Owner ApprovedArea Units Underp.Commence Review Conceptual would be broken down into two categories: 100 26 $900,000 Months39 Supply Inventory: 1 41 0 1875 Mission Street at 15th | Mission2655 Bush Street at Divisadero$850,000Bayview/Hunters Point/CandlestickKB Home Point Lower Pac12,771 Heights 81 Q4499 2015 3,780 12% low income (55% of area median income for rental; 90% for ownership) Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Status: Average $/SqFt: $1,055 1001 17th Street at PennsylvaniaDogpatch 1001 17th Street Associates Potrero2,360 Hill 26 Q4907 2015 0 18% moderate income (120% of area median income for rental; 140% forDate ownership) on market: Number October Closed 2014 Median Sale Price UNIT MIX 1868 Van Ness Avenue at SacramentoHayes Valley N/A Van Ness Corridor116 35 Q4170 2015 24 The development would also be required to offer at least 40 percent Developer:two-bedroom M1875 units. LLC Mid-Market Number of 32 2,590 0 Developments which contain 100 percent affordable units would be offeredProject info: the 39same units, relief 4-stories, from 6 BMRs,450 Hayes 24 parking Street at spaces, Gough Monthly Unit Type DDG/DMUnits Hayes ValleySize Range41 Q4 2015 density limits, and up to three additional residential stories. HOA fee: $400 - $520 Mission 141 1,559 134 NEW APARTMENT PRICING & OCCUPANCYPacific - 2155 Webster Street at Sacramento1 - Bedroom Trumark Urban9 Pacific Heights902 - 918 SqFt76 Q1/Q2 2016 There is also an alternate State mandated Bonus Program, which allowsAmenities: for greater Rooftop density pool, and dog run Mission2 - BayBedroom 11 5201,112 - 1,697 SqFt 1,500 0 1450 Franklin Street at Bush Village Properties Western Addition 67 Q1 2016 heights on a graduated basis, depending on the number and type of BMRFinishes: units Ann provided. Sacks/Porcelanosa tile, hardwood floors, Blanco Average Price & Occupancy Northern3 - Bedroom Neighborhoods 14 1,607132 - 2,014 SqFt 1,663 0 faucets, Bertazzoni microwaves/ranges,One Rincon Leibherr Hill refrigerators,II - 401 Harrison brass Street Rockpoint/Maximus Rincon Hill 298 Q1 2016 Where does it apply? The Program applies to residential mixed-use$4,000 districts. The programClick development does not to be taken directly95.0% to page apply for RH-1 or RH-2 (one- and two-family house) zoning districts, whichentry doors,account Heath for Ceramicsover 70% house of numbers, radiant heated floorsPotrero Hill 131 1,019 323 $3,900 3420 18th Street at San Carlos N/A Mission 16 Q1 2016 the City. $3,800 Website: M1875.com SAPPHIRE94.0%South ONYX of Market ARDEN INFINITY 1,560 5,037 1,188 $3,700 1050 Valencia Street at Hill 93.0% N/A Mission 12 Q1 2016 What are next steps? The City aims to have Program legislation$3,600 enacted by year’s end. For full Southern NeighborhoodsMost Recent Quarter 1,704 1,201 334 program details, visit SF-Planning.org. $3,500 388 Fulton Street at Franklin92.0% 7x7 Development Hayes Valley 61 Q1 2016 CLOSING DETAILS Transbay 949 784 0 $3,400 MADRONE MILLENNIUM91.0% TOWERAverage: ONE $3,875 RINCON HILL SHIPYARD I $3,300 Rowan - 346 Potrero Avenue at 16th Trumark Urban Potrero Hill 70 Q1 2016 Unit Type SqFt HOA $ Parking Closing Price $/SqFt Closing Date90.0%TreasureOccupancy Island 8,619 0 0 Average Price Average $3,200 Occupancy: 91% 580 Hayes Street at Laguna Laguna Hayes LLC Hayes Valley 29 Q1 2016 109 2/2 1,272 $3,100 $560 1 $1,200,000 $943 8/28/201589.0%Upper Market 24 222 0 $3,000 410 2/1 779 $420 1 $945,000 $1,213 8/3/2015 PG.3 SAN FRANCISCO RESIDENTIAL DEVELOPMENT SEPTEMBER 2015 $2,900 One Mission Bay - 1000 Channel88.0%Van Street Ness at Corridor 3rd CIM Group Mission 0Bay 350 Q11,485 2016 0 404 2/1 750 $412Q1 2014 Q2 20141 Q3 2014$935,000Q4 2014 $1,247Q1 2015 Q27/28/2015 2015 1 Franklin Street at Market Western Neighborhoods JS Sullivan Hayes9,007 REPORTValley 35 Q2574 2016 NOTES750 311 1/1 777PROJECTED$419 0 Average Price$729,000 Occupancy$938 6/23/2015ABOUT & 181 Fremont Street at HowardPG.5 SAN FRANCISCO RESIDENTIAL DEVELOPMENTJay Paul Company AUGUST 2015 Transbay 67 Q2 2016 310 1/1 779 $419 0 $739,000 $949 6/5/2015 Total While38,066 the Report19,210 focuses on condo6,533- miniums, select information on apart- 411 2/1 778 SUPPLY$420 1 $950,000 832 Sutter$1,221 Street at6/5/2015 JonesDISCLAIMERN/A Lower Nob Hill 20 Q2 2016 308 0/1 623 $376 0 $675,000 $1,083 5/14/2015 ments has been presented as well. The Knox - 645 Texas StreetUnder at 22nd Construction (by Trumarkproduct Urban type) Potrero Hill 91 Q3 2016 208 0/1 PG.4 SAN626 FRANCISCO RESIDENTIAL$363 DEVELOPMENT0 SEPTEMBER$625,000 2015 $998 5/11/2015 most recent available data has been Tower at Nob Hill - 1545 Pine Street at Van Ness AreaPacific Eagle Holdings CondominiumsNob Hill 103 ApartmentsQ3 2016 All 312 2/1 805 $410 1 $910,000 $1,130 4/24/2015 used, with data from March 2015/2016 Dogpatch used0 for comparisons259 and statistics.259 210 1/1 779 $420 1 $780,000 5800$1,001 Third Street 4/23/2015- Phase II Holliday Development BayviewBelow Market136 RateQ4 2016 (BMR) and senior 412 2/1 801 $426 1 $980,000 $1,223 4/22/2015 Hayes Valley 166 280 446 1450 15th Street at Shotwell 10 South Shore LLC Missionhousing units23 haveQ4 2016 been omitted from 204 1/1 752 $451 1 $740,000 $984 4/21/2015 Mid-Market 0 143 143 690 Page Street at Steiner Page Steiner Associates Lowerclosings Haight and12 statisticsQ4 2016 where possible. 203 1/1 754 $421 1 $754,000 $1,000 4/17/2015 Mission Note12 that it can take0 a few months12 be- 209 1/1 800 $426p. 1 $765,000 $956 4/17/2015 p. RESIDENTIAL SUPPLY 42 ABOUT Mission Bay43 fore0 unit closings 574appear in the public574 406 2/1 631 $377 1 $700,000 $1,109 4/14/2015 records. Absorption is measured from Northern Neighborhoods 279 0 279 PROJECTED SUPPLY 403 2/1 752 $409 1 $920,000Vanguard Properties$1,223 4/1/2015 expertly guides low- to high-density residentialthe developers. start of salesCore until the current pe- 106 0/1 619 $400 0 $560,000consulting services$905 include3/31/2015 PotreroResearch, Hill Land Acquisition, Design, Branding,riod.213 The Promotion, Report Sales covers453 developments666 202 1/1 772 $418 1 $754,000Strategy and$977 Risk Management.3/16/2015 From1 franklinconcept to close-out, Vanguard leads the way to The spike in apartment supply in Q1 2016 reflects the anticipation of 1,300 new units South of Market with0 over four units.3,165 HOA dues include3,165 305 2/1 780 $403 1 $905,000successful $1,160development. 3/10/2015 For a list of developments, visit VanguardSF.com being released, mostly located in large Developments South of Market. Condominium Transbay parking67 fees, where472 applicable. 539 supply continues to be minimal,107 as few0/1 developments633 have $378broken ground0 in recent$575,000 $908 3/6/2015 months. However, there are407 over 16,0000/1 approved645 condominiums$368 in the 0Pipeline,$650,000 and 1001$1,008 17th 3/6/2015 Upper Market 0 the pacific87 87 supply is poised to increase108 dramatically.0/1 Lately, 620there has been$360 less upward0 pressure$589,000For Developer $950 Services,2/27/2015 contact:Van Ness Corridor 34 0 34 on new apartment pricing, as compared to new condominium pricing. This is likely 206 0/1 626 $360 0 $619,000FRANK NOLAN$989 2/27/2015 JAMESTotals NUNEMACHER 771 5,433 6,204 due to far greater production211 of apartments.1/1 However,799 with$426 development1 timelines$775,000 $970 2/27/2015 running one to two years between groundbreaking and completion, any anticipated 309 1/1 804 $402 1 $899,000VP, Director $1,118 of Development 2/27/2015 Co-founder & Principal condominium supply would come some years later. New condominium inventory is NOTES: currently running eight percent306 lower0/1 month-over-month.PG.2 SAN620 FRANCISCO $378 RESIDENTIAL0 $650,000415.377.3726 DEVELOPMENT $1,048 APRIL2/25/2015 2016 415.519.7772 304 1/1 751 $412 1 $901,200 $1,200 2/20/2015The category, Under Construction - Condominiums, does not include developments which are pre-selling [email protected]. These [email protected] are categorized as Currently Selling. UNIT MIX BRE License No. 01300017 Northern NeighborhoodsBRE License covers No. 00913606 Cathedral Hill, Western Addition, Pacific Heights, Nob Hill, Lower Nob Hill, ProjectedNumber Supply of Financial District, Russian Hill, Telegraph Hill, North Beach & Marina/Cow Hollow. Unit Type Units Size Range 2,500 Studio 10 620 SqFt For additional marketSouthern reporting, Neighborhoods contact: covers Oceanview, Glen Park, Outer Mission, Mission Terrace, Visitacion Valley. 1 - Bedroom 13 780 - 795 SqFt Western Neighborhoods covers Park Merced, Parkside, Forest Knolls, Richmond, Sunset, Laurel Heights. 2,000 1,926 2 - Bedroom 16 628 - 1,272 SqFtJONATHAN MOFTAKHAR 1,500 PG.17 SAN FRANCISCO RESIDENTIAL DEVELOPMENT1,302 OCTOBER 2015 1,323 MarketPG.30 SAN Analyst FRANCISCO RESIDENTIAL DEVELOPMENT OCTOBER 2015 Units 1,130 1,195 1,000 415.920.3731 PG.29 SAN FRANCISCO RESIDENTIAL DEVELOPMENT JULY 2015 888 817 879 [email protected] 500 438 312 241 208 BRE License No. 01442709 0 84 23 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017

New Condominiums New Apartments

HISTORICAL SUPPLY

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

Historical Supply

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

* Year-to-date

PG.31 SAN FRANCISCO RESIDENTIAL DEVELOPMENT AUGUST 2015

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

ales have commenced at One Mission SBay, 350 units located on the Channel.

ales have commenced at The Harrison, Sa 49-story tower on Rincon Hill. Initial pricing averages over $1,700 per square foot.

ust over 20 market-rate units remain Jat The Rockwell, and first closings are anticipated in August. ver one-third of market-rate units Oare in-contract at 388 Fulton. Initial pricing averages at over $1,400 per square foot.

nearly complete set of closings A has been released for Arden, ore closings for Lumina and price per square foot averages MTower B have been released, $1,008. and average price per square foot measures at $1,247.

nitial closings have been released for IShipyard’s second phase, and price per square foot averages $820.

PG.3 SAN FRANCISCO RESIDENTIAL DEVELOPMENT APRIL 2016 CLICK TO RETURN TO THE NAVIGATION PAGE MARKET PERFORMANCE

Median $/SqFt Currently Year-Over-Year Month-Over-Month New Condominium $1,336/SqFt + 15% + 2% Resale Condominium $1,011/SqFt - 1% - 3%

NEW CONDOMINIUM PRICING & VOLUME

Median Price & Closing Volume

500 $1,400,000 $1,200,000 400 Most Recent Quarter $1,000,000 300 $800,000 Median: $1,325,000 $600,000 200 Units Closed: 446 $400,000 100 $200,000 Units Available: 828* 0 $0 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015

Number Closed Median Sale Price

* Market-rate; As of April 2016 RESALE CONDOMINIUM PRICING & VOLUME

Median Price & Closing Volume 800 $1,150,000 $1,100,000 600 Most Recent Quarter $1,050,000 Median: $1,100,000 400 $1,000,000 $950,000 Units Closed: 375 200 $900,000 Units Available: 266* 0 $850,000 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016

Number Closed Median Sale Price

* Market-rate; As of April 2016 NEW APARTMENT PRICING & OCCUPANCY

Average Price & Occupancy 95.0% $5,000

93.0% $4,000 Most Recent Quarter 91.0% $3,000 Average: $4,010 89.0% $2,000 Occupancy: 90% 87.0% $1,000

85.0% $0 Q 1 2014 Q 2 2014 Q 3 2014 Q 4 2014 Q 1 2015 Q 2 2015 Q 3 2015 Q 4 2015 Occupancy Average Price

PG.4 SAN FRANCISCO RESIDENTIAL DEVELOPMENT APRIL 2016 CLICK TO RETURN TO THE NAVIGATION PAGE

DEVELOPMENT SNAPSHOT Currently Selling ONE MISSION BAY 1000 Channel Street at 3rd | Mission Bay Status: 350 units available, Average $/SqFt (estimat- ed): $1,200 - $1,300+ Project specs: 350 units, one 16-story high-rise & one 6-story mid-rise, HOA: $633 - $1,033+ Ground broken: Q3 2015 Date on Market: April 2016 First Closings: Q1 2017 Developer: CIM Group/Strada Investment Group Architect: Arquitectonica Landscape: CMG Interiors: II by IV Design Features & Finishes: Gaggenau ovens/cook tops/ ranges/refrigerators/paneled dishwashers, Caesar- stone quartz counter tops, Hardwood floors, Kohler fixtures Amenities: Lounge, Courtyard with pool/cabanas/fire pit/BBQs, Fitness center with sauna, Business cen- ter, Library, Guest suite, Conference rooms, Catering kitchen, 13,000 SqFt ground level retail Website: OneMissionBay.com

UNIT MIX AND STARTING PRICING

Unit Type Number of Units Size Range $ Studios 22 508 SqFt $575K + One-bedroom 71 631 - 870 SqFt $700K + One-bedroom + Den 53 770 - 1,122 SqFt $800K + Two-bedroom 61 986 - 1,440 SqFt $1MM + Two-bedroom + Den 98 1,110 - 1,541 SqFt $1MM + Three-bedroom 25 1,294 - 1,958 SqFt $1.5MM + Three-bedroom + Den 7 1,452 - 1,958 SqFt $2MM +

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DEVELOPMENT SNAPSHOT Currently Selling

THE HARRISON 401 Harrison Street at Fremont | Rincon Hill Status: 286 units available/12 in-contract, Average $/SqFt (sam- ple listings): $1,709/SqFt Project specs: 298 units, 49-stories Date on Market: April 2016 First Closings: July 2016 Developer/Owner: Rockpoint/Maximus Architect/Interiors: Solomon Cordwell Buenz/Ken Fulk Features & Finishes: Diagonal-planked Siberian oak floors, Wa- terworks fixtures, Un-lacquered brass hardware, Bosch washer/ dryers, Studio Becker Ash Molina gray cabinetry, Carrara marble counter tops and backsplash, Kitchens with Kohler sinks/Sub-Ze- ro paneled refrigerators/Bertazzoni gas cook tops, ovens, mi- crowaves/Bosch Ascenta dishwashers, Bathrooms with Chevron honed-finish olive porcelain tile floors/Decolav sinks/Brass wall sconces/Carrara subway tiled showers, Bay Bridge and City views Amenities: Full-service concierge, 24-hour attended lobby, 24- hour valet parking, Electric vehicle car charging, Resident stor- age, Package room with refrigerated storage, Controlled access elevators, Bicycle parking, 49th-floor lounge with dining area/ kitchen/fireplace, Terrace with reflection pool/garden/BBQs, Wine storage, 55-foot pool, Jacuzzi, 2,500 SqFt fitness center, Lobby with double-height ceiling/ two-story library Website: TheHarrisonSF.com

THE HARRISON SAMPLE LISTINGS CONTINUED ON FOLLOWING PAGE...

PG.6 SAN FRANCISCO RESIDENTIAL DEVELOPMENT APRIL 2016 CLICK TO RETURN TO THE NAVIGATION PAGE DEVELOPMENT SNAPSHOT Currently Selling SAMPLE LISTINGS - THE HARRISON

Unit Type SqFt HOA $ Parking Listing Price $/SqFt 4A 1/1 1,110 $1,406 1 $825,000 $743 4B 1/1 741 $1,285 1 $801,000 $1,081 4C 2/2 1,289 $1,459 1 $1,773,000 $1,375 4D 1/1 606 $1,239 1 $981,000 $1,619 4E 1/1 707 $1,285 1 $995,000 $1,407 4F 2/2 1,241 $1,458 1 $1,223,000 $985 4G 1/1 810 $1,314 1 $768,000 $948 AVERAGES 929 $1,349 $1,052,286 $1,133 12A 1/1 840 $1,314 1 $1,090,000 $1,298 12B 2/2 1,312 $1,476 1 $1,837,000 $1,400 12C 2/2 1,286 $1,458 1 $2,012,000 $1,565 12D 1/1 607 $1,239 1 $1,073,000 $1,768 12E 1/1 707 $1,285 1 $1,091,000 $1,543 12F 2/2 1,240 $1,458 1 $2,171,000 $1,751 12G 1/1 819 $1,314 1 $1,562,000 $1,907 12H 1/1 759 $1,285 1 $1,182,000 $1,557 AVERAGES 946 $1,354 $1,502,250 $1,588 16A 1/1 840 $1,314 1 $1,161,000 $1,382 16B 2/2 1,312 $1,476 1 $1,953,000 $1,489 16C 2/2 1,286 $1,458 1 $2,126,000 $1,653 16D 1/1 607 $1,240 1 $1,136,000 $1,871 16E 1/1 707 $1,285 1 $1,159,000 $1,639 16F 2/2 1,240 $1,459 1 $2,280,000 $1,839 16G 1/1 819 $1,314 1 $1,635,000 $1,996 16 H 1/1 759 $1,285 1 $1,253,000 $1,651 AVERAGES 946 $1,354 $1,587,875 $1,678 23A 1/1 840 $1,314 1 $1,232,000 $1,467 23B 2/2 1,311 $1,477 1 $2,063,000 $1,574 23C 2/2 1,334 $1,477 1 $2,491,000 $1,867 23D 2/2 1,297 $1,459 1 $2,805,000 $2,163 23E 2/2 1,241 $1,459 1 $2,755,000 $2,220 23F 1/1 830 $1,314 1 $1,717,000 $2,069 23G 1/1 758 $1,285 1 $1,324,000 $1,747 AVERAGES 1,087 $1,398 $2,055,286 $1,890 34A 1/1 840 $1,314 1 $1,375,000 $1,637 34B 2/2 1,311 $1,477 1 $2,396,000 $1,828 34C 2/2 1,334 $1,477 1 $2,926,000 $2,193 34D 2/2 1,297 $1,458 1 $3,329,000 $2,567 34E 2/2 1,241 $1,458 1 $3,173,000 $2,557 34F 1/1 830 $1,314 1 $1,863,000 $2,245 34G 1/1 758 $1,285 1 $1,467,000 $1,935 AVERAGES 1,087 $1,398 $2,361,286 $2,172

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DEVELOPMENT SNAPSHOT Currently Selling

THE PACIFIC - ROW HOUSE COLLECTION

2121 Webster Street at Sacramento | Pacific Heights Status: 5 units available/5 in-contract Project specs: 3 and 4-story townhomes, 10 units, 0 BMRs, HOA $: approximately $2,000 Pre-sale: February 2016 First Closings: June/July 2016 Developer: Trumark Urban Architect/Interiors: Handel Architects Features & Finishes: Private outdoor space, Gaggenau appliances, Arclinea cabinetry, Dornbracht/Waterworks/ Duravit/Blanco fixtures Amenities: Concierge, Valet parking, Guest suite, Fitness studio, Yoga garden, Courtyard, Penthouse lounge Website: ThePacificHeights.com

UNIT MIX

Number of Unit Type Units Size Range $ 3 - story, 3 - bedroom townhome 7 2,404 - 2,428 SqFt $3MM - $4.5MM 4 - story, 3 - bedroom townhome 3 2,404 - 2,428 SqFt

PG.8 SAN FRANCISCO RESIDENTIAL DEVELOPMENT APRIL 2016 CLICK TO RETURN TO THE NAVIGATION PAGE

DEVELOPMENT SNAPSHOT Currently Selling

388 FULTON 388 Fulton Street at Gough | Hayes Valley Status: 45 market-rate units available/16 in-contract/0 closed, Average $/SqFt (sample listings): $1,442 Project specs: 8 BMRs, 6-stories, 69 total units, 0 car park- ing, 69 bicycle parking, HOA fee: $345 - $500 Date on market: March Closings anticipated: May 2016 Developer: 7x7 Development Architect: David Baker Interiors: Charles de Lisle Features & Finishes: Black-glazed facade tile, Stone walk- ways, Board-form concrete exterior walls, Solar thermal wa- ter heating, Low/No-VOC paints, LED lighting, Bertazzoni Professional Series cook tops and ovens, Broan Elite range hoods, Bosch dishwashers, Blomberg built-in refrigerators, Moen kitchen sinks, Grohe faucets, Quartz counter tops with full-height tile backsplash, High-gloss white and black kitchen cabinets, Ecotimber FSC-certified white oak floor- ing, Kohler Archer bathtubs, Duravit Starck Series toilets, Ceramic tile bathroom floors Amenities: Roof terrace with grill, fire pit, and film screen- ing, Courtyard, Lounge, Bicycle storage with work station, Common area WIFI, Virtual Doorman Website: 388Fulton.com

SAMPLE LISTINGS

Unit Number Type SqFt HOA $ List Price $/SqFt 207 0/1 371 $346 $539,396 $1,454 306 0/1 354 $346 $542,022 $1,531 403 0/1 326 $346 $551,359 $1,691 503 0/1 326 $346 $559,161 $1,715 604 0/1 326 $346 $579,942 $1,779 507 0/1 371 $346 $590,131 $1,591 412 1/1 404 $385 $626,652 $1,551 501 2/1 701 $499 $938,742 $1,339 213 2/1 743 $499 $953,883 $1,284 601 2/1 701 $499 $959,731 $1,369 313 2/1 743 $499 $967,510 $1,302 405 2/1 720 $499 $966,092 $1,342

UNIT MIX

Unit Type Number of Units Size Range Studios 35 326 - 485 SqFt One-bedroom 6 404 - 559 SqFt Two-bedroom 28 701 - 779 SqFt

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DEVELOPMENT SNAPSHOT Currently Selling

450 HAYES 450 Hayes Street at Octavia | Hayes Valley Status: 5 market-rate units available/36 market-rate units in-contract, Approximate absorption: 12 units/ month, Average $/SqFt (sample listings): $1,612 Project specs: 4-stories, 41 units, 5 BMRs, 20 parking spaces, HOA fee: $721 - $986 Date on market: January 2016 Closings anticipated: mid-May 2016 Developer: DDG & DM Development Architect: Handel Architects & Marta Fry Landscape Features & Finishes: Siematic cabinetry, Quartz counter tops, Hansgrohe fixtures, Integrated Liebherr refrigerator, Bosch appliances, Wide-plank (7.5”) oak flooring, Americh bathtubs, Specstone chevron tile floors in bathrooms Amenities: Courtyard, Virtual Doorman, Roof terrace Website: 450Hayes.com

SAMPLE LISTINGS

Unit Number Type SqFt Parking List Price $/SqFt 3C 1/1 614 0 $872,900 $1,422 2D 1/1 620 0 $835,000 $1,347 PH7 3/2.5 1,463 1 $2,500,000 $1,709 PH8 2/2 1,239 1 $2,095,000 $1,691 PH4 2/2 1,047 1 $1,750,000 $1,671 3B 1/1 622 0 $890,000 $1,431 PH3 2/2 1,034 1 $1,775,000 $1,717 2F 1/1 730 0 $995,000 $1,363 PH5 2/2 1,135 1 $1,995,000 $1,758

UNIT MIX

Unit Type Number of Units One-bedroom 24 Two-bedroom 16 Three-bedroom 1

PG.10 SAN FRANCISCO RESIDENTIAL DEVELOPMENT APRIL 2016 CLICK TO RETURN TO THE NAVIGATION PAGE

DEVELOPMENT SNAPSHOT Currently Selling

THE DISTRICT 2655 Bush St at Divisadero | Lower Pac Heights Status: 65 units available/16 in-contract, Approximate absorption: 5 units/month, Average $/SqFt (sample listings): $1,287 Project specs: 81 units, 0 BMRs, 6-stories, 86 parking spaces, 4,500 SqFt retail, HOA fees: $650-850 Date on market: January 2016 Closings anticipated: August 2016 Developer: KB Signature Architect: KTGY Features & Finishes: Barbosa cabinetry, Caesarstone counter tops with Emser glass tile backsplash, Ther- mador refrigerators, Bosch 30” gas cook tops, Bosch 30” ovens, Bosch Ascenta dishwashers, Bosch Axxis stacked washer & dryers, Provenza engineered hard- wood floors, Shaw Anso carpet in bedrooms, Emser porcelain tile in bathrooms, Moen faucets, Marble and limestone floors in penthouse units Amenities: Lounge, Full-time lobby attendant, Roof terrace with BBQ & fireplace, Fitness center, Court- yard, Pet grooming station Website: SFTheDistrict.com Sales Center: 2505 Bush Street

SAMPLE LISTINGS

Unit Type SqFt Parking List Price $/SqFt 216 1/1 713 1 $934,000 $1,310 316 1/1 713 1 $989,000 $1,387 210 1/1 + Den 824 1 $1,010,000 $1,226 309 1/1 746 1 $1,025,025 $1,374 121 1/1 + Den 793 1 $995,000 $1,255 119 1/1 + Den 793 1 $999,000 $1,260 117 1/1 + Den 793 1 $1,009,000 $1,272 111 1/1 + Den 980 1 $1,153,275 $1,177 115 1/1 + Den 980 1 $1,154,150 $1,178 225 2/2 899 1 $1,124,000 $1,250 127 2/2 974 1 $1,140,350 $1,171 227 2/2 974 1 $1,210,600 $1,243 207 2/2 1,015 1 $1,250,400 $1,232 327 2/2 974 1 $1,291,650 $1,326 129 2/2 1,046 1 $1,254,450 $1,199 314 2/2 971 1 $1,319,850 $1,359 229 2/2 1,046 1 $1,307,400 $1,250 128 2/2 1,024 1 $1,324,275 $1,293 307 2/2 1,038 1 $1,345,100 $1,296 325 2/2 1,010 1 $1,349,000 $1,336 321 2/2 1,080 1 $1,382,325 $1,280 317 2/2 1,080 1 $1,372,525 $1,271 329 2/2 1,046 1 $1,379,950 $1,319 231 2/2 + Den 1,115 1 $1,399,200 $1,255 131 2/2 + Den 1,115 1 $1,367,575 $1,227 328 2/2 1,075 1 $1,456,675 $1,355 203 2/2 1,164 1 $1,442,400 $1,239 205 2/2 1,164 1 $1,450,000 $1,246 331 2/2 + Den 1,115 1 $1,478,250 $1,326 230 2/2 + Den 1,149 1 $1,475,000 $1,284 303 2/2 1,164 1 $1,505,200 $1,293 428 2/2 1,075 1 $1,516,540 $1,411 305 2/2 1,164 1 $1,518,200 $1,304 330 2/2 + Den 1,149 1 $1,535,075 $1,336 311 2/2 1,233 1 $1,550,000 $1,257 430 2/2 + Den 1,149 1 $1,599,000 $1,392 106 2/2 1,259 1 $1,609,725 $1,279 206 2/2 1,311 1 $1,687,400 $1,287 306 2/2 1,311 1 $1,751,900 $1,336 201 2/2 + Den 1,600 1 $2,039,800 $1,275 301 2/2 + Den 1,600 1 $2,167,300 $1,355

PG.11 SAN FRANCISCO RESIDENTIAL DEVELOPMENT APRIL 2016 CLICK TO RETURN TO THE NAVIGATION PAGE

DEVELOPMENT SNAPSHOT Currently Selling

1001 SEVENTEENTH

1001 17th Street at Pennsylvania | Potrero Hill Status: 4 market-rate units available/6 units in-con- tract/11 units closed, Average $/SqFt (closings): $1,171 Project specs: 26 units, 4-stories, 9 parking spaces, 5 BMRs, HOA: $408 - $572 Date on market: November 2015 Developer: 1001 17th Street Associates Architect: Jonathan Pearlman - Elevation Architects Features & Finishes: Bosch kitchen appliances, Gro- he and Hansgrohe faucets, Duravit sinks and soaking tubs, American wide-plank oak floors with radiant heat, Miranda Woodworks cabinetry, Cat5 wiring, Webpass Internet, Flos and Sonneman lighting fix- tures, Italian Porcelain, PentalQuartz counter tops, Fresh-air ventilation Amenities: Bicycle parking, Courtyard, Video intercom Website: 1001PH.com Phone: 415-321-7077

CLOSING DETAILS

Unit Number Type SqFt HOA $ Parking Closing Price $/SqFt Closing Date 302 1/1 535 $420 0 $699,000 $1,307 3/31/16 404 1/1 528 $419 0 $660,000 $1,250 3/29/16 203 1/1 544 $422 0 $680,000 $1,250 3/11/16 307 2/2 1,059 $551 1 $1,160,000 $1,095 3/9/16 206 0/1 490 $408 0 $599,000 $1,222 2/23/16 401 1/1 645 $447 0 $775,000 $1,202 2/17/16 205 1/1 523 $416 0 $649,000 $1,241 2/12/16 301 1/1 639 $446 0 $730,000 $1,142 2/12/16 204 2/2 1,025 $542 1 $1,095,000 $1,068 2/3/16 304 2/2 1,025 $542 1 $1,115,000 $1,088 1/29/16 201 1/1 591 $422 0 $740,000 $1,252 1/27/16

UNIT MIX

Unit Type Number of Units Studio 3 1 - Bedroom 13 2 - Bedroom 10

PG.12 SAN FRANCISCO RESIDENTIAL DEVELOPMENT APRIL 2016 CLICK TO RETURN TO THE NAVIGATION PAGE

DEVELOPMENT SNAPSHOT Currently Selling

LUMINA

201 Folsom Street at Beale | South Beach Status: 190 units available/259 in-contract/207 closed, Approximate absorption: 30 units/month, Average $/SqFt (closings): $1,220 Project info: 656 units, one 42-story tower, one 37-story tower, two 8-story podiums Developer: Tishman Speyer (China Vanke – equity partner) Architect: Arquitectonica (towers) and Heller Manus (podi- ums/”Plazas”) Date on market: September 2014 Closings: Plaza A - Sep- tember 2015, Plaza C - October 2015, Tower B - January 2016, Tower D - June 2016 Amenities: 10,500 SqFt rooftop with vegetable garden/din- ing/fire pits/movie screening, 7,000 SqFt fitness center with yoga studio/aerobics room/20-foot climbing wall, lounge with fireplace/bar, private dining room with chef’s kitchen/ prep kitchen/fireplace/outdoor terrace, screening room with tiered seating for thirty/surround sound, 75-foot lap pool, library with WIFI, 2,000 SqFt spa with treatment room/day lockers/steam room/sauna, children’s room, music practice room, pet grooming station, on-site gourmet grocer, Audi At-Home, Scoot electric scooters Features & Finishes: 9’ to 10’10” ceilings, Bay views, Gag- genau ovens/cook tops, Bosch refrigerators/dishwashers, Caesarstone quartz counter tops/backsplash, SieMatic cab- inetry, marble vanity counter tops, porcelain tile bathroom floors/shower walls, Nest Thermostats Website: LuminaSF.com Sales office:289 Main Street

AMENITY SCHEDULE

COMPLETED APRIL 2016 MAY/J UNE 2016

Fitness Center Rooftop Terrace Private Dining Room Business Center Screening Room Club Lounge/Game Room Library Lounge Music Practice Room Spa/Locker Rooms Pet Grooming Station HOA Management Office 70-foot Heated Lap Pool Concierge Rock Climbing Wall Children’s Room

UNIT MIX

Number of Unit Type Units Size Range Studio/Jr. 1-Bedroom 16 650 - 870 SqFt 1 - Bedroom 200 850 - 1,400 SqFt 2 - Bedroom 373 1,180 - 1,600 SqFt 3 - Bedroom 67 1,700 - 2,650 SqFt Penthouse (options) - 3,770 - 15,000 SqFt

LUMINA CLOSINGS ON FOLLOWING PAGES...

PG.13 SAN FRANCISCO RESIDENTIAL DEVELOPMENT APRIL 2016 CLICK TO RETURN TO THE NAVIGATION PAGE DEVELOPMENT SNAPSHOT Currently Selling CLOSING DETAILS - LUMINA PLAZA A

Unit Type SqFt HOA $* Parking Closing Price $/SqFt Sale Date 318 Main 7K 2/2 1,520 $1,140 1 $1,978,000 $1,301 1/14/2016 318 Main 8I 1/1.5 938 $987 1 $1,375,000 $1,466 12/15/2015 318 Main 8F 3/3 1,797 $1,537 1 $3,295,000 $1,834 11/19/2015 318 Main 2A 2/2 1,418 $1,182 1 $1,495,000 $1,054 8/17/2015 318 Main 2B 1/1.5 1,044 $997 1 $1,064,500 $1,020 8/17/2015 318 Main 2D 1/2 1,098 $1,024 1 $1,175,000 $1,070 8/17/2015 318 Main 2E 3/3 1,973 $1,457 1 $2,395,000 $1,214 8/17/2015 318 Main 3B 2/2 1,398 $1,172 1 $1,595,000 $1,141 8/17/2015 318 Main 3D 1/2 1,104 $1,027 1 $1,225,000 $1,110 8/17/2015 318 Main 3E 1/2 1,098 $1,024 1 $1,312,000 $1,195 8/17/2015 318 Main 3F 3/3 1,979 $1,459 1 $2,400,500 $1,213 8/17/2015 318 Main 3G 1/2 1,087 $1,019 1 $1,032,500 $950 8/17/2015 318 Main 3H 2/2 1,434 $1,190 1 $1,775,000 $1,238 8/17/2015 318 Main 3I 1/1.5 1,000 $976 1 $1,164,000 $1,164 8/17/2015 318 Main 3J 1/1.5 + Den 882 $917 1 $1,101,000 $1,248 8/17/2015 318 Main 3K 2/2 1,520 $1,233 1 $1,925,000 $1,266 8/17/2015 318 Main 4A 0/1 665 $810 1 $726,000 $1,092 8/17/2015 318 Main 4B 2/2 1,398 $1,172 1 $1,632,500 $1,168 8/17/2015 318 Main 4C 1/1.5 1,044 $997 1 $1,055,000 $1,011 8/17/2015 318 Main 4D 1/2 1,104 $1,027 1 $1,179,000 $1,068 8/17/2015 318 Main 4E 1/2 1,098 $1,024 1 $1,152,000 $1,049 8/17/2015 318 Main 4F 3/3 1,979 $1,460 1 $2,431,000 $1,228 8/17/2015 318 Main 4G 1/2 1,087 $1,019 1 $1,051,000 $967 8/17/2015 318 Main 4H 2/2 1,434 $1,190 1 $1,595,000 $1,112 8/17/2015 318 Main 4I 1/1.5 1,000 $976 1 $975,000 $975 8/17/2015 318 Main 4J 1/1.5 882 $917 1 $889,000 $1,008 8/17/2015 318 Main 4K 2/2 1,520 $1,233 1 $1,550,000 $1,020 8/17/2015 318 Main 5A 0/1 665 $810 1 $733,000 $1,102 8/17/2015 318 Main 5B 2/2 1,398 $1,172 1 $1,600,500 $1,145 8/17/2015 318 Main 5C 1/1.5 1,044 $997 1 $1,218,500 $1,167 8/17/2015 318 Main 5D 1/2 1,104 $1,027 1 $1,168,000 $1,058 8/17/2015 318 Main 5E 1/2 1,098 $1,024 1 $1,220,000 $1,111 8/17/2015 318 Main 5F 3/3 1,979 $1,460 1 $2,531,000 $1,279 8/17/2015 318 Main 5G 1/2 1,087 $1,019 1 $1,076,000 $990 8/17/2015 318 Main 5H 2/2 1,434 $1,190 1 $1,467,500 $1,023 8/17/2015 318 Main 5I 1/1.5 1,000 $976 1 $965,500 $966 8/17/2015 318 Main 5J 1/1.5 882 $917 1 $925,000 $1,049 8/17/2015 318 Main 5K 2/2 1,520 $1,233 1 $1,756,500 $1,156 8/17/2015 318 Main 6B 2/2 1,398 $1,172 1 $1,654,000 $1,183 8/17/2015 318 Main 6C 1/1.5 1,044 $997 1 $1,177,500 $1,128 8/17/2015 318 Main 6D 1/2 1,104 $1,027 1 $1,222,500 $1,107 8/17/2015 318 Main 6E 1/2 1,098 $1,024 1 $1,200,000 $1,093 8/17/2015 318 Main 6F 3/3 1,979 $1,460 1 $2,700,000 $1,364 8/17/2015 318 Main 6G 1/2 1,087 $1,019 1 $1,125,000 $1,035 8/17/2015 318 Main 6H 2/2 1,434 $1,190 1 $1,575,000 $1,098 8/17/2015 318 Main 6I 1/1.5 1,000 $976 1 $1,050,000 $1,050 8/17/2015 318 Main 6J 1/1.5 882 $917 1 $908,500 $1,030 8/17/2015 318 Main 6K 2/2 1,520 $1,233 1 $1,590,000 $1,046 8/17/2015 318 Main 7A 0/1 665 $949 1 $860,500 $1,294 8/17/2015 318 Main 7B 2/2 1,205 $1,077 1 $1,625,000 $1,349 8/17/2015 318 Main 7C 1/1.5 + Den 883 $917 1 $1,195,000 $1,353 8/17/2015 318 Main 7D 1/2 947 $950 1 $1,275,000 $1,346 8/17/2015 318 Main 7E 1/1.5 + Den 941 $1,005 1 $1,250,000 $1,328 8/17/2015 318 Main 7F 3/3 1,797 $1,369 1 $2,675,000 $1,489 8/17/2015 318 Main 7G 1/1 + Den 852 $902 1 $1,150,000 $1,350 8/17/2015 318 Main 7H 2/2 1,286 $1,117 1 $1,655,100 $1,287 8/17/2015 318 Main 7J 1/1.5 882 $918 1 $1,095,000 $1,241 8/17/2015 318 Main 8A 0/1 665 $810 1 $847,000 $1,274 8/17/2015 318 Main 8B 2/2 1,205 $1,077 1 $1,795,100 $1,490 8/17/2015 318 Main 8D 1/2 947 $949 1 $1,475,000 $1,558 8/17/2015 318 Main 8E 1/1.5 1,005 $1,005 1 $1,277,000 $1,271 8/17/2015 318 Main 8H 2/2 1,286 $1,117 1 $1,825,000 $1,419 8/17/2015 318 Main 8K 2/2 1,520 $1,123 1 $1,730,000 $1,138 8/17/2015 63 Closings Averages: 1,212 $1,446,614 $1,194

*HOA dues are approximate. LUMINA CLOSINGS CONTINUED ON FOLLOWING PAGE...

PG.14 SAN FRANCISCO RESIDENTIAL DEVELOPMENT APRIL 2016 CLICK TO RETURN TO THE NAVIGATION PAGE DEVELOPMENT SNAPSHOT Currently Selling CLOSING DETAILS - LUMINA PLAZA C

Unit Type SqFt HOA $* Parking Closing Price $/SqFt Sale Date 333 Beale 2C 1/1 + Den 927 $1,000 1 $1,095,000 $1,181 1/4/2016 333 Beale 2G 1/2 + Den 1,013 $1,020 1 $1,295,000 $1,278 12/29/2015 333 Beale 2D 0/1 972 $998 1 $985,000 $1,013 10/23/2015 333 Beale 2E 2/2 + Den 1,553 $1,218 1 $1,595,000 $1,027 10/23/2015 333 Beale 2F 1/2 + Den 1,138 $1,045 1 $1,197,500 $1,052 10/23/2015 333 Beale 3B 2/2 1,198 $1,083 1 $1,656,500 $1,383 10/23/2015 333 Beale 3C 1/1.5 + Den 916 $977 1 $1,297,000 $1,416 10/23/2015 333 Beale 3D 1/2 1,033 $1,021 1 $1,350,000 $1,307 10/23/2015 333 Beale 3E 2/2 1,630 $1,247 1 $1,850,000 $1,135 10/23/2015 333 Beale 3F 0/1 920 $978 1 $900,000 $978 10/23/2015 333 Beale 3G 2/2 1,553 $1,218 1 $1,775,000 $1,143 10/23/2015 333 Beale 3H 1/2 + Den 1,110 $1,050 1 $1,295,500 $1,167 10/23/2015 333 Beale 3I 1/2 1,114 $1,052 1 $1,275,000 $1,145 10/23/2015 333 Beale 3J 1/2 1,119 $1,054 1 $1,295,000 $1,157 10/23/2015 333 Beale 3K 2/2 + Den 1,487 $1,193 1 $1,895,000 $1,274 10/23/2015 333 Beale 4B 2/2 1,198 $1,083 1 $1,450,000 $1,210 10/23/2015 333 Beale 4C 1/1.5 916 $977 1 $1,140,000 $1,245 10/23/2015 333 Beale 4D 1/2 1,033 $1,021 1 $1,195,000 $1,157 10/23/2015 333 Beale 4E 2/2 1,630 $1,247 1 $1,644,500 $1,009 10/23/2015 333 Beale 4F 0/1 920 $978 1 $920,500 $1,001 10/23/2015 333 Beale 4G 2/2 1,553 $1,218 1 $1,745,000 $1,124 10/23/2015 333 Beale 4H 1/2 1,110 $1,050 1 $1,395,000 $1,257 10/23/2015 333 Beale 4I 1/2 + Den 1,114 $1,052 1 $1,314,000 $1,180 10/23/2015 333 Beale 4J 1/2 + Den 1,119 $1,054 1 $1,295,000 $1,157 10/23/2015 333 Beale 4K 2/2 + Den 1,487 $1,193 1 $1,677,000 $1,128 10/23/2015 333 Beale 5A 1/1 873 $961 1 $1,049,000 $1,202 10/23/2015 333 Beale 5B 2/2 1,198 $1,083 1 $1,543,500 $1,288 10/23/2015 333 Beale 5C 1/1.5 + Den 916 $977 1 $1,252,000 $1,367 10/23/2015 333 Beale 5D 1/2 + Den 1,033 $1,021 1 $1,269,000 $1,228 10/23/2015 333 Beale 5E 2/2 + Den 1,630 $1,247 1 $1,617,500 $992 10/23/2015 333 Beale 5F 0/1 920 $978 1 $976,000 $1,061 10/23/2015 333 Beale 5G 2/2 + Den 1,553 $1,218 1 $1,770,000 $1,140 10/23/2015 333 Beale 5H 1/2 + Den 1,110 $1,050 1 $1,395,000 $1,257 10/23/2015 333 Beale 5I 1/2 + Den 1,131 $1,044 1 $1,354,500 $1,198 10/23/2015 333 Beale 5J 1/2 + Den 1,119 $1,054 1 $1,325,000 $1,184 10/23/2015 333 Beale 5K 2/2 + Den 1,487 $1,193 1 $1,595,000 $1,073 10/23/2015 333 Beale 6A 1/1 873 $992 1 $1,088,000 $1,246 10/23/2015 333 Beale 6B 2/2 1,210 $1,060 1 $1,550,000 $1,281 10/23/2015 333 Beale 6C 1/1.5 + Den 916 $977 1 $1,195,000 $1,305 10/23/2015 333 Beale 6D 1/2 + Den 1,033 $1,021 1 $1,285,000 $1,244 10/23/2015 333 Beale 6E 2/2 + Den 1,630 $1,247 1 $1,750,000 $1,074 10/23/2015 333 Beale 6F 0/1 920 $978 1 $960,000 $1,043 10/23/2015 333 Beale 6G 2/2 + Den 1,553 $1,218 1 $1,795,000 $1,156 10/23/2015 333 Beale 6J 1/2 + Den 1,119 $1,054 1 $1,495,000 $1,336 10/23/2015 333 Beale 6K 2/2 + Den 1,487 $1,193 1 $1,595,000 $1,073 10/23/2015 333 Beale 7B 2/2 1,198 $1,083 1 $1,595,000 $1,331 10/23/2015 333 Beale 7C 1/1.5 + Den 916 $977 1 $1,325,100 $1,447 10/23/2015 333 Beale 7D 1/2 + Den 1,033 $1,021 1 $1,275,000 $1,234 10/23/2015 333 Beale 7E 2/2 + Den 1,630 $1,247 1 $1,795,000 $1,101 10/23/2015 333 Beale 7F 0/1 920 $978 1 $997,000 $1,084 10/23/2015 333 Beale 7I 1/2 + Den 988 $1,004 1 $1,395,000 $1,412 10/23/2015 333 Beale 7J 1/2 + Den 993 $1,006 1 $1,395,000 $1,405 10/23/2015 333 Beale 7K 2/2 + Den 1,334 $1,135 1 $2,150,000 $1,612 10/23/2015 333 Beale 8B 2/2 1,198 $1,083 1 $1,795,000 $1,498 10/23/2015 333 Beale 8E 2/2 + Den 1,630 $1,247 1 $2,331,000 $1,430 10/23/2015 333 Beale 8F 0/1 920 $978 1 $1,195,000 $1,299 10/23/2015 333 Beale 8K 2/2 + Den 1,404 $1,100 1 $2,250,000 $1,603 10/23/2015 57 Closings Averages: 1,187 $1,436,668 $1,211

*HOA dues are approximate. LUMINA CLOSINGS CONTINUED ON FOLLOWING PAGE...

PG.15 SAN FRANCISCO RESIDENTIAL DEVELOPMENT APRIL 2016 CLICK TO RETURN TO THE NAVIGATION PAGE DEVELOPMENT SNAPSHOT Currently Selling CLOSING DETAILS - LUMINA TOWER B

Unit Type SqFt HOA $* Parking Closing Price $/SqFt Sale Date 338 Main 6B 2/2 1,178 $1,051 1 $1,395,000 $1,184 12/21/15 338 Main 3B 2/2 1,178 $1,051 1 $1,475,000 $1,252 12/21/15 338 Main 4B 2/2 1,178 $1,051 1 $1,345,000 $1,142 12/21/15 338 Main 3A 2/2 1,379 $1,102 1 $1,675,000 $1,215 12/21/15 338 Main 5G 2/2 1,401 $1,107 1 $1,495,000 $1,067 12/21/15 338 Main 4G 2/2 1,401 $1,107 1 $1,525,000 $1,089 12/21/15 338 Main 10G 2/2 1,398 $1,109 1 $1,780,100 $1,273 12/21/15 338 Main 11D 1/1 880 $979 1 $956,000 $1,086 12/21/15 338 Main 11G 2/2 1,398 $1,109 1 $1,725,000 $1,234 12/21/15 338 Main 11H 1/1 854 $972 1 $1,195,000 $1,399 12/21/15 338 Main 3G 2/2 1,398 $1,109 1 $1,750,000 $1,252 12/21/15 338 Main 4A 2/2 1,367 $1,101 1 $1,560,500 $1,142 12/21/15 338 Main 4C 2/2 1,400 $1,109 1 $1,575,000 $1,125 12/21/15 338 Main 4D 1/1 880 $979 1 $952,000 $1,082 12/21/15 338 Main 4H 1/1 854 $972 1 $975,000 $1,142 12/21/15 338 Main 5A 2/2 1,367 $1,101 1 $1,535,500 $1,123 12/21/15 338 Main 5B 2/2 1,187 $1,056 1 $1,325,000 $1,116 12/21/15 338 Main 5H 1/1 854 $972 1 $1,014,000 $1,187 12/21/15 338 Main 6D 1/1 880 $979 1 $995,000 $1,131 12/21/15 338 Main 6G 2/2 1,398 $1,109 1 $1,657,500 $1,186 12/21/15 338 Main 7B 2/2 1,187 $1,056 1 $1,295,000 $1,091 12/21/15 338 Main 7D 1/1 880 $979 1 $880,000 $1,000 12/21/15 338 Main 7G 2/2 1,398 $1,109 1 $1,530,000 $1,094 12/21/15 338 Main 8A 2/2 1,367 $1,101 1 $1,625,000 $1,189 12/21/15 338 Main 8B 2/2 1,187 $1,056 1 $1,575,000 $1,327 12/21/15 338 Main 8D 1/1 880 $979 1 $995,100 $1,131 12/21/15 338 Main 8G 2/2 1,398 $1,109 1 $1,585,000 $1,134 12/21/15 338 Main 8H 1/1 854 $972 1 $1,049,000 $1,228 12/21/15 338 Main 9A 2/2 1,367 $1,101 1 $1,695,000 $1,240 12/21/15 338 Main 9D 1/1 880 $979 1 $1,095,000 $1,244 12/21/15 338 Main 10B 2/2 1,187 $1,056 1 $1,414,500 $1,192 12/21/15 338 Main 10D 1/1 880 $979 1 $911,500 $1,036 12/21/15 338 Main 10E 2/2 1,368 $1,101 1 $1,595,000 $1,166 12/21/15 338 Main 10F 2/2 1,187 $1,056 1 $1,329,000 $1,120 12/21/15 338 Main 10H 1/1 854 $972 1 $970,000 $1,136 12/21/15 338 Main 11A 2/2 1,367 $1,101 1 $1,770,000 $1,295 12/21/15 338 Main 11B 2/2 1,187 $1,056 1 $1,431,000 $1,206 12/21/15 338 Main 11F 2/2 1,187 $1,056 1 $1,545,000 $1,302 12/21/15 338 Main 12A 2/2 1,367 $1,101 1 $1,807,500 $1,322 12/21/15 338 Main 12B 2/2 1,187 $1,056 1 $1,487,000 $1,253 12/21/15 338 Main 12D 1/1 880 $979 1 $989,000 $1,124 12/21/15 338 Main 12F 2/2 1,187 $1,056 1 $1,625,000 $1,369 12/21/15 338 Main 12H 1/1 854 $972 1 $1,069,000 $1,252 12/21/15 338 Main 14A 2/2 1,367 $1,101 1 $1,900,000 $1,390 12/21/15 338 Main 14B 2/2 1,187 $1,056 1 $1,850,100 $1,559 12/21/15 338 Main 14G 2/2 1,398 $1,109 1 $1,725,000 $1,234 12/21/15 338 Main 14H 1/1 854 $972 1 $1,150,000 $1,347 12/21/15 338 Main 15A 2/2 1,367 $1,101 1 $2,015,000 $1,474 12/21/15 338 Main 15C 2/2 1,400 $1,109 1 $2,795,000 $1,996 12/21/15 338 Main 15D 1/1 880 $979 1 $1,014,000 $1,152 12/21/15 338 Main 16A 2/2 1,367 $1,101 1 $2,025,000 $1,481 12/21/15 338 Main 16B 2/2 1,187 $1,056 1 $1,540,000 $1,297 12/21/15 338 Main 16C 2/2 1,400 $1,109 1 $2,335,000 $1,668 12/21/15 338 Main 16D 1/1 880 $979 1 $1,075,000 $1,222 12/21/15 338 Main 16G 2/2 1,398 $1,109 1 $1,925,000 $1,377 12/21/15 338 Main 16H 1/1 854 $972 1 $1,085,000 $1,270 12/21/15 338 Main 17D 1/1 880 $979 1 $1,112,000 $1,264 12/21/15 338 Main 17G 2/2 1,398 $1,109 1 $1,825,000 $1,305 12/21/15 338 Main 18A 2/2 1,367 $1,101 1 $1,945,000 $1,423 12/21/15 338 Main 18D 1/1 880 $979 1 $1,155,500 $1,313 12/21/15 338 Main 18G 2/2 1,398 $1,109 1 $1,966,000 $1,406 12/21/15 338 Main 18H 1/1 854 $972 1 $1,102,500 $1,291 12/21/15 338 Main 19A 2/2 1,367 $1,101 1 $2,273,500 $1,663 12/21/15

*HOA dues are approximate. LUMINA TOWER B CLOSINGS CONTINUED ON FOLLOWING PAGE...

PG.16 SAN FRANCISCO RESIDENTIAL DEVELOPMENT APRIL 2016 CLICK TO RETURN TO THE NAVIGATION PAGE DEVELOPMENT SNAPSHOT Currently Selling CLOSING DETAILS - LUMINA TOWER B (CONTINUED)

Unit Type SqFt HOA $* Parking Closing Price $/SqFt Sale Date 338 Main 19B 2/2 1,187 $1,056 1 $2,075,000 $1,748 12/21/15 338 Main 19G 2/2 1,398 $1,109 1 $1,895,000 $1,356 12/21/15 338 Main 3H 1/1 854 $972 1 $1,195,000 $1,399 12/21/15 338 Main 4E 2/2 1,368 $1,101 1 $1,425,000 $1,042 12/21/15 338 Main 4F 2/2 1,187 $1,056 1 $1,315,000 $1,108 12/21/15 338 Main 5D 1/1 880 $979 1 $925,000 $1,051 12/21/15 338 Main 5E 2/2 1,368 $1,101 1 $1,459,000 $1,067 12/21/15 338 Main 5F 2/2 1,187 $1,056 1 $1,295,000 $1,091 12/21/15 338 Main 6C 2/2 1,400 $1,109 1 $1,495,000 $1,068 12/21/15 338 Main 6E 2/2 1,368 $1,101 1 $1,595,000 $1,166 12/21/15 338 Main 6F 2/2 1,187 $1,056 1 $1,245,000 $1,049 12/21/15 338 Main 7C 2/2 1,400 $1,109 1 $1,495,000 $1,068 12/21/15 338 Main 7E 2/2 1,368 $1,101 1 $1,395,000 $1,020 12/21/15 338 Main 7F 2/2 1,187 $1,056 1 $1,245,000 $1,049 12/21/15 338 Main 7H 1/1 854 $972 1 $895,000 $1,048 12/21/15 338 Main 8E 2/2 1,368 $1,101 1 $1,495,000 $1,093 12/21/15 338 Main 9B 2/2 1,187 $1,056 1 $1,595,100 $1,344 12/21/15 338 Main 9F 2/2 1,187 $1,056 1 $1,495,000 $1,259 12/21/15 338 Main 9G 2/2 1,398 $1,109 1 $1,595,000 $1,141 12/21/15 338 Main 9H 1/1 854 $972 1 $1,175,000 $1,376 12/21/15 338 Main 19E 2/2 1,368 $1,101 1 $2,295,000 $1,678 12/21/15 84 Closings Averages: 1,180 $1,471,261 $1,247

*HOA dues are approximate.

PG.17 SAN FRANCISCO RESIDENTIAL DEVELOPMENT APRIL 2016 CLICK TO RETURN TO THE NAVIGATION PAGE DEVELOPMENT SNAPSHOT Currently Selling

THE ROCKWELL 1688 Pine Street at Franklin | Pacific Heights Status: 23 market-rate units available, 206 market-rate units in-contract, Approximate absorption: 19 units/month, Average $/SqFt (sample listings): $1,313 Project info: Two 13-story towers, 260 units (115-unit East Tower + 145-unit West Tower), 31 BMRs, 201 parking spaces, 5,500 SqFt retail, Monthly HOA fee: $600 - $1,000 Ground broken: Q4 2014 Pre-sale: May 2015 First Closings anticipated: August 2016 - West Tower, Novem- ber 2016 - East Tower Developer: Oyster Development (Tricon Capital – equity) Architect: Kwan Henmi Interiors: II by IV Design Amenities: Resident’s lounge with kitchen/dining/screening room, Roof terrace with seating/fireplace, Fitness center, Courtyard garden with fireplace/BBQ, 24-hour lobby atten- dant, Lobby solarium with walnut paneling, Lounge with bar Features & Finishes: Private balconies, Air conditioning, Caesarstone counter tops, Porcelain tile in bathrooms, Stu- dio Becker cabinetry, Bosch/Bertazzoni appliances (exterior exhaust venting), Walk-in shower and dual sinks in master bathrooms, Approx. 9’ +/- ceilings Sales gallery: 1651 Polk Street Website: TheRockwellSF.com

SAMPLE LISTINGS

Unit Number Type SqFt HOA $ Parking List Price $/SqFt W611 2/2 927 $722 1 $1,153,000 $1,244 E404 1/1 500 $564 0 $626,000 $1,252 E211 1/1 678 $662 1 $801,000 $1,181 W1202 2/2 955 $735 1 $1,447,000 $1,515 W902 2/2 955 $735 1 $1,295,000 $1,356 E1207 1/1 548 $633 1 $787,000 $1,436 W1108 2/2 1,068 $764 1 $1,479,000 $1,385 W808 2/2 1,076 $766 1 $1,395,000 $1,296 E801 2/2 890 $719 1 $1,128,000 $1,267 W408 1/1 + Den 729 $632 0 $834,000 $1,144 W903 1/1 673 $618 0 $803,000 $1,193 E704 1/1 500 $575 0 $670,000 $1,340 E709 1/1 639 $610 0 $776,000 $1,214 E804 1/1 500 $575 0 $689,000 $1,378 W502 2/2 1,040 $757 1 $1,239,000 $1,191 E1101 2/2 874 $715 1 $1,284,000 $1,469 E807 1/1 548 $587 0 $726,000 $1,325 E1105 1/1 690 $669 1 $986,000 $1,429 E707 1/1 557 $589 0 $732,000 $1,314 W205 2/2 1,193 $795 1 $1,394,000 $1,168 E803 1/1 743 $682 1 $960,000 $1,292 E1004 1/1 500 $575 0 $733,000 $1,466 EPH02 2/2 1,239 $808 1 $1,965,000 $1,586 E302 2/2 989 $744 1 $1,164,000 $1,177 E305 1/1 693 $623 0 $811,000 $1,170

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DEVELOPMENT SNAPSHOT Currently Selling

LUXE 1650 Broadway at Van Ness | Pacific Heights Status: 18 units available/13 in-contract/0 closed, Average $/SqFt (sample listings): $1,767, Approximate absorption: 3 units/month Pre-sale: October 2015 Closings anticipated: May 2016 Project info: 34 units, 7-stories, 47 parking spaces (valued at $100K/space), HOA: $815 - $1,085 Developer: Belrich Partners Architect: Forum Design Interior Design: Edmonds + Lee Features & Finishes: Marble tile and zinc facade, Floor- to-ceiling windows, Bay & Golden Gate views, Studio Becker Cabinetry, Mobile kitchen islands, Caesarstone counter tops, Subzero refrigerators, Thermador ap- pliances, U-Line wine coolers, Duravit and Hansgrohe fixtures, Victoria + Albert limestone soaking tubs, Frame-less glass showers, 9-foot ceilings, Hardwood floors (carpet in bedrooms);Penthouses only: Gas fire- places, Walk-in pantries and closets, Calacatta marble, Custom mill work, 10-foot ceilings, 1,500 SqFt terraces Amenities: Lounge, 2-story lobby, Part-time attendant Website: Luxe-SF.com

SAMPLE LISTINGS

Unit Type SqFt Parking List Price $/SqFt 205 1/1.5 816 1 $1,150,000 $1,409 306 1/2 + Den 899 1 $1,175,000 $1,307 105 1/1.5 + Den 1,103 1 $1,195,000 $1,083 406 1/2 + Den 899 1 $1,225,000 $1,363 104 2/2 1,103 1 $1,250,000 $1,133 506 1/2 + Den 899 1 $1,275,000 $1,418 606 1/2 + Den 893 1 $1,325,000 $1,484 204 2/2 1,096 1 $1,410,000 $1,286 203 2/2 1,129 1 $1,450,000 $1,284 304 2/2 1,090 1 $1,460,000 $1,339 404 2/2 1,091 1 $1,510,000 $1,384 403 2/2 1,121 1 $1,550,000 $1,383 504 2/2 1,052 1 $1,560,000 $1,483 604 2/2 1,040 1 $1,610,000 $1,548 603 2/2 1,083 1 $1,675,000 $1,547 201 3/2.5 1,484 1 $2,095,000 $1,412 202 3/2.5 1,584 1 $2,125,000 $1,342 101 3/2.5 1,555 1 $2,350,000 $1,511 102 3/2.5 1,562 1 $2,350,000 $1,504 401 3/2.5 1,487 1 $2,575,000 $1,732 501 3/2.5 1,394 1 $2,995,000 $2,148 502 3/2.5 1,496 1 $3,280,000 $2,193 602 3/3 1,943 2 $4,550,000 $2,342 601 3/2.5 1,841 2 $4,690,000 $2,548 702 3/2.5 1,965 2 $5,565,000 $2,832 701 3/2.5 1,930 2 $5,880,000 $3,047

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DEVELOPMENT SNAPSHOT Currently Selling

FULTON 555 555 Fulton Street at Octavia | Hayes Valley Status: 74 market-rate units available/48 market-rate units in-contract, Approximate absorption: 5 units/ month, Average $/SqFt (sample listings): $1,281 Ground Broken: May 2014 Pre-sale: July 2015 First Closings Anticipated: December 2016 Project info: 139 units, 5-stories, 148 parking spaces (77 retail/68 residential), 17 BMRs, Monthly HOA fee: $450 - $750 Developer: Fulton Street Ventures Architect: Ian Birchall & Associates Features & Finishes: Bosch appliances, Hardwood floors, Concrete construction Amenities: Lounge, Roof terrace, Dog park, Bicycle re- pair station, Conference room, Part-time lobby atten- dant, Zirx valet, 30,000 SqFt grocery store Website: Fulton555.com

SAMPLE LISTINGS

Unit Number Type SqFt HOA $ Parking List Price $/SqFt 206 1/1 512 $487 0 $699,000 $1,365 223 1/1 710 $521 0 $819,000 $1,154 334 2/2 851 $549 1 $1,109,000 $1,303 232 2/2 1,195 $611 1 $1,499,000 $1,254 305 1/1 512 $487 0 $691,380 $1,350 409 1/1 512 $487 0 $699,000 $1,365 410 1/1 512 $487 0 $699,000 $1,365 306 1/1 512 $593 0 $704,003 $1,375 225 1/1 710 $521 0 $760,000 $1,070 223 1/1 710 $521 0 $778,775 $1,097 226 1/1 710 $521 0 $786,000 $1,107 229 1/1 710 $521 0 $794,321 $1,119 407 2/2 719 $521 0 $923,025 $1,284 307 2/2 719 $521 1 $997,672 $1,388 507 2/2 719 $521 1 $1,076,899 $1,498 324 2/2 1,005 $593 1 $1,290,662 $1,284

UNIT MIX

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

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DEVELOPMENT SNAPSHOT Currently Selling

72 TOWNSEND 72 Townsend Street at 2nd | SOMA - South Beach Status: 27 market-rate units available/11 market-rate units in-contract/29 closed, Average $/SqFt (closings): $1,336, Approximate absorption: 3 units/month Project info: 74 units, 9-stories, 74 parking spaces, 7 BMRs, Ground broken: Q1 2014 Date on market: April 2015 Developer: KB Home Architect: SB Architects Amenities: Lobby attendant, Roof terrace with BBQ, Lounge Features & Finishes: Steel-frame construction, Bay views, Soaking tubs, Studio Becker cabinetry, Cae- sarstone quartz counter tops, Moen faucets, Bosch appliances, Kohler sinks, Provenza hardwood flooring, Emser porcelain tile flooring, Low VOC paints, Floor- to-ceiling windows, Approx. 9’ ceiling heights Website: 72Townsend.com

CLOSING DETAILS

Unit Type SqFt HOA $ Parking Closing Price $/SqFt Closing Date 605 1/1 631 $718 1 $970,000 $1,537 3/4/2016 507 1/1.5 851 $771 1 $1,091,660 $1,283 3/3/2016 606 2/2 1,090 $834 1 $1,770,000 $1,624 3/3/2016 306 2/1 935 $787 1 $1,350,000 $1,444 2/26/2016 301 1/1 773 $718 1 $999,000 $1,292 2/13/2016 511 2/2 1,143 $719 1 $1,549,000 $1,355 2/13/2016 412 1/1.5 900 $785 1 $1,146,515 $1,274 1/7/2016 407 1/1.5 851 $773 1 $1,009,000 $1,186 12/31/2015 501 1/1 788 $757 1 $1,071,944 $1,360 12/19/2015 304 2/2 1,186 $853 1 $1,630,000 $1,374 12/11/2015 309 2/2 1,136 $834 1 $1,595,000 $1,404 12/11/2015 310 2/2 1,219 $834 1 $1,745,472 $1,432 11/30/2015 311 2/2 1,106 $834 1 $1,735,125 $1,569 11/30/2015 305 1/1 619 $719 0 $934,500 $1,510 11/6/2015 307 1/1 709 $718 1 $900,000 $1,269 11/6/2015 401 1/1 788 $757 1 $985,000 $1,250 11/6/2015 402 2/2 1,289 $871 1 $1,555,000 $1,206 11/6/2015 403 1/1.5 785 $700 1 $952,000 $1,213 11/6/2015 404 2/2 1,260 $834 1 $1,420,000 $1,127 11/6/2015 405 1/1 632 $719 1 $833,100 $1,318 11/6/2015 406 2/2 1,176 $853 1 $1,476,500 $1,256 11/6/2015 408 1/1.5 1,005 $805 1 $1,241,000 $1,235 11/6/2015 409 2/2 1,146 $834 1 $1,360,000 $1,187 11/6/2015 411 2/2 1,106 $836 1 $1,411,600 $1,276 11/6/2015 502 2/2 1,289 $871 1 $1,675,000 $1,299 11/6/2015 503 1/1.5 785 $653 1 $1,048,000 $1,335 11/6/2015 505 1/1 632 $719 1 $856,000 $1,354 11/6/2015 506 2/2 1,176 $855 1 $1,720,500 $1,463 11/6/2015 512 1/1.5 900 $785 1 $1,240,000 $1,378 11/6/2015

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DEVELOPMENT SNAPSHOT Currently Selling

SAN FRANCISCO SHIPYARD (2nd Release)

Innes Avenue and Donahue Street - Hunters Point Status: 63 market-rate units available/82 in-contract/14 closed, Approximate absorption: 8 units/month, Average $/ SqFt (closings): $820 Project info: 159 units, Two-car parking for townhomes, One-car parking for condominiums, Monthly HOA fees: $210 - $227 (townhomes), $356 - $476 (condos), 16 BMRs Pre-sale: April 2015 Closings: February - July 2016 Developer: Lennar Urban Architect: Kava Massih Features & Finishes: Nest thermostats and smoke/car- bon dioxide detectors, Bosch appliances, Caesarstone and quartz counter tops, Barbosa high-gloss cabinetry, Por- celanosa bathroom floors, Plyboo wire-brushed hardwood floors, Private outdoor spaces, Secured parking, Dropcam Amenities: Downtown shuttle, Terraces, Bicycle parking Website: TheSFShipyard.com

CLOSINGS

Closing Unit Number Type SqFt HOA $* Parking Closing Price $/SqFt Date 501 Hudson 202 1/1 + Den 811 $390 1 $649,000 $800 1/12/16 501 Hudson 203 2/2 956 $420 1 $776,000 $812 1/12/16 501 Hudson 204 1/1 + Den 760 $390 1 $649,000 $854 1/21/16 501 Hudson 302 1/1 + Den 811 $390 1 $667,500 $823 1/12/16 501 Hudson 303 2/2 956 $420 1 $796,000 $833 1/13/16 501 Hudson 304 1/1 + Den 804 $390 1 $668,500 $831 1/13/16 551 Hudson 101 1/1 558 $356 1 $516,000 $925 1/21/16 551 Hudson 202 1/1 + Den 764 $390 1 $655,500 $858 1/14/16 551 Hudson 203 1/1 + Den 811 $390 1 $633,000 $781 1/14/16 551 Hudson 204 2/2 970 $420 1 $751,000 $774 1/14/16 551 Hudson 301 2/2 957 $420 1 $758,500 $793 1/14/16 551 Hudson 302 1/1 + Den 806 $390 1 $646,000 $801 1/21/16

UNIT MIX *HOA dues are approximate. Number of Unit Type Units Size Range 2 - Bedroom Townhome 20 1,070 - 1,180 SqFt 3 - Bedroom Townhome 34 1,200 - 1,620 SqFt 1 - Bedroom Condo 46 550 - 811 SqFt 2 - Bedroom Condo 54 960 - 1,380 SqFt 3 - Bedroom Condo 5 1,235 - 1,285 SqFt

PG.22 SAN FRANCISCO RESIDENTIAL DEVELOPMENT APRIL 2016 CLICK TO RETURN TO THE NAVIGATION PAGE DEVELOPMENT SNAPSHOT Currently Selling

SUMMIT 800 800 Brotherhood Way at Junipero Serra | Park Merced Status: 39 units available/55 in-contract/88 closed, Approx- imate absorption: 7 units/month, Average $/SqFt (closings): $672 Developer: Comstock Homes & Maracor Development Project info: 182 units, Townhomes and single family homes, 2-3 car parking, Date on market: July 2014 Amenities: HOA maintained front yard landscaping, adjacent to two-acre park with tot lot/dog area Features and Finishes: Decks, walk-in closets, Copper Creek polished chrome door hardware, Emser ceramic tile floors, Crema Marfil master bath floors, Superior Shaw stain-resistant carpet, Andersen windows and sliding doors, granite kitchen counter tops and backsplash, Viking appliances, Kohler sinks and tubs, Delta faucets, powder rooms in each floor plan, Piedrafina bathroom counter tops and surrounds, 1.5 KW solar system, tank-less water heaters Website: Summit800.com

CLOSING DETAILS

Unit Type SqFt HOA $ Parking Closing Price $/SqFt Closing Date 186 3/2 1,547 $215 2 $998,700 $646 3/31/16 188 3/2.5 1,839 $227 2 $1,125,000 $612 3/31/16 165 3/2.5 2,133 $274 2 $1,311,650 $615 3/11/16 281 3/2.5 2,001 $185 3 $1,512,381 $725 2/26/16 162 3/2.5 1,839 $230 2 $1,150,505 $626 1/22/16 157 3/2.5 2,133 $276 2 $1,417,530 $665 1/7/16 159 3/2.5 2,133 $275 2 $1,319,499 $619 12/31/15 155 3/2.5 2,024 $275 2 $1,361,764 $673 12/30/15 126 3/2 1,547 $223 2 $990,675 $640 12/2/15 166 3/2 1,547 $230 2 $1,011,782 $654 11/30/15 160 3/2 1,547 $230 2 $1,048,012 $677 11/24/15 111 3/2.5 2,133 $278 2 $1,349,846 $633 11/20/15 109 3/2.5 2,133 $278 2 $1,381,500 $648 11/3/15 136 3/2 1,547 $224 2 $1,030,298 $666 10/28/15 138 3/2.5 1,839 $235 2 $1,169,177 $636 10/28/15 132 3/2.5 1,839 $235 2 $1,140,289 $620 10/23/15 107 3/2.5 2,024 $277 2 $1,331,500 $658 10/15/15 295 3/2.5 2,001 $189 3 $1,478,486 $739 10/5/15 120 3/2 1,547 $654 2 $1,012,234 $654 9/30/15 291 3/2.5 2,001 $189 3 $1,519,538 $759 9/30/15 101 3/2.5 2,133 $276 2 $1,299,077 $609 8/26/15 103 3/2.5 2,133 $276 2 $1,399,015 $656 8/26/15 105 3/2.5 2,024 $274 2 $1,360,000 $672 8/21/15 297 3/2.5 2,001 $187 3 $1,603,000 $801 7/28/15 301 3/2.5 2,001 $206 3 $1,623,000 $811 7/17/15 102 3/2.5 1,839 $248 2 $1,143,594 $622 6/11/15 299 3/2.5 2,001 $206 3 $1,450,000 $725 6/9/15 96 3/2 1,547 $249 2 $1,021,207 $660 6/5/15 85 3/2.5 2,133 $294 2 $1,356,536 $636 5/28/15 89 3/2.5 2,024 $293 2 $1,400,000 $692 5/22/15 83 3/2.5 2,024 $293 2 $1,516,329 $749 5/7/15 106 3/2 1,547 $248 2 $1,016,000 $657 5/1/15 73 3/2.5 2,024 $325 2 $1,470,000 $726 4/20/15 309 3/2.5 2,001 $238 3 $1,450,000 $725 4/20/15 69 3/2.5 2,133 $566 2 $1,430,000 $670 3/30/15 71 3/2.5 2,133 $566 2 $1,188,000 $557 3/9/15

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DEVELOPMENT SNAPSHOT Currently Selling

6 MINT PLAZA

418 Jessie Street (5th & Mission) | South of Market Status: 2 units available/1 in-contract/19 closed, Average $/SqFt (closings): $1,358 Project info: 22 units, 8-stories, Historic rehab/condo con- version Date on Market: June 2015 Owner: The Carlyle Group/Veritas Features & Finishes: Historic rehab of early twentieth-cen- tury building, Acid-stained concrete floors, Exposed con- crete and plaster walls, Industrial-era windows, Birch wood doors, Viking refrigerators, Thermador cook tops, Bosch washer/dryers, Concrete and stone counter tops, Monarch hardwood floors, Stainless steel soaking tubs, Walk-in clos- ets, Private balconies, Central heat and air conditioning Amenities: Roof terrace with spa and BBQ, Gym, Fob-se- cured entry, 24-hour guard service, Mint Plaza Merchants: Blue Bottle Coffee, Mint 54 Italian Kitchen, flower stand Website: 6MintPlaza.com

CLOSING DETAILS

Unit Number Type SqFt HOA $ Parking Closing Price $/SqFt Closing Date 801 1/1 661 $486 0 $875,000 $1,324 2/24/16 601 1/1 606 $485 0 $840,000 $1,386 12/2/15 301 1/1 601 $481 0 $770,000 $1,281 11/23/15 504 2/2 973 $666 0 $1,220,000 $1,254 10/13/15 502 2/1 767 $598 0 $995,000 $1,297 9/24/15 603 1/1 728 $571 0 $970,000 $1,332 9/16/15 304 2/2 863 $665 1 $1,150,000 $1,333 9/9/15 701 1/1 606 $485 0 $850,000 $1,403 9/4/15 401 1/1 605 $484 0 $799,000 $1,321 9/2/15 303 2/1 712 $559 0 $899,000 $1,263 9/1/15 402 2/1 766 $597 0 $945,000 $1,234 9/1/15 703 2/1 729 $571 0 $990,000 $1,358 9/1/15 802 3/3 1,679 $1,238 0 $2,745,000 $1,635 8/27/15 306 2/1 817 $633 0 $995,000 $1,218 7/31/15 201 1/1 589 $473 0 $712,000 $1,209 7/24/15 501 1/1 607 $485 0 $771,500 $1,271 7/1/15 702 3/3 1,670 $1,231 0 $2,550,000 $1,527 6/29/15 503 2/1 729 $571 0 $896,500 $1,230 6/24/15

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400 GROVE 400 Grove Street at Gough | Hayes Valley Status: 1 unit available, Average $/SqFt: $1,285 Project info: 34 units, 4 BMRs, 5-stories, 17 parking spaces (valued at $125K a space), 34 bicycle spaces Date on market: May 2015 Developer: DM & DDG Architect: Fougeron Landscape Architect: Marta Fry Features & Finishes: Redwood rain screen, FSC certified 7.5”-wide oak plank flooring, LED accent lighting, SieMatic kitchen cabinetry, Corian counter tops, Blanco/Hansgrohe faucets, Duravit bathroom cabinets/fixtures, Bosch appli- ances, Liebherr refrigerators, Approx. 9’+/- ceilings, Gladia- tor storage rails at garage Amenities: Virtual Doorman, Courtyard bamboo garden, Roof terrace with BBQ, On-site restaurant (“Little Gem”) Website: 400Grove.com

CLOSING DETAILS

Unit Number Type SqFt HOA $ Parking Closing Price $/SqFt Closing Date 105 2/2 1,009 $844 1 $1,350,000 $1,338 11/6/2015 207 2/2 1,154 $905 1 $1,385,000 $1,200 10/16/2015 309 2/2 1,012 $844 1 $1,298,000 $1,283 10/16/2015 407 2/2 1,012 $844 1 $1,258,000 $1,243 10/15/2015 201 1/1 603 $702 0 $728,000 $1,207 10/13/2015 308 0/1 578 $693 0 $639,000 $1,106 10/13/2015 401 2/2 1,060 $864 1 $1,395,000 $1,316 10/13/2015 406 0/1 578 $693 0 $664,000 $1,149 10/13/2015 209 2/2 1,012 $844 1 $990,000 $978 10/9/2015 402 2/2 1,098 $886 1 $1,528,000 $1,392 10/8/2015 403 2/2 905 $817 1 $1,275,000 $1,409 10/8/2015 102 1/1 678 $732 0 $767,000 $1,131 9/1/2015 103 2/2 1,110 $888 1 $1,414,500 $1,274 9/1/2015 104 0/1 577 $693 0 $694,000 $1,203 9/1/2015 202 1/1 677 $732 0 $771,000 $1,139 9/1/2015 203 2/2 1,028 $856 1 $1,426,000 $1,387 9/1/2015 204 0/1 485 $665 0 $549,000 $1,132 9/1/2015 205 0/1 477 $663 0 $557,000 $1,168 9/1/2015 208 0/1 578 $693 0 $649,000 $1,123 9/1/2015 301 1/1 570 $693 0 $709,000 $1,244 9/1/2015 303 2/2 930 $822 1 $1,375,000 $1,478 9/1/2015 304 0/1 428 $647 0 $544,000 $1,271 9/1/2015 307 2/2 1,154 $905 1 $1,432,000 $1,241 9/1/2015 404 1/1 815 $783 0 $850,000 $1,043 9/1/2015 405 2/2 1,194 $919 1 $1,498,000 $1,255 9/1/2015 502 2/2 1,052 $864 1 $1,628,000 $1,548 9/1/2015 503 2/2 1,080 $885 1 $1,687,000 $1,562 9/1/2015 504 2/2 950 $835 1 $1,522,000 $1,602 9/1/2015 504 2/2 950 $835 1 $1,522,000 $1,602 9/1/2015

UNIT MIX & PRICING SUMMARY

Unit Type Number of Units Size Range Price Range Junior 1 - Bedroom 8 428 - 578 SqFt $550K - $700K 1 - Bedroom 7 570 - 815 SqFt $700K - $850K 2 - Bedroom 19 905 - 1,369 SqFt $1MM - $2.1MM

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DEVELOPMENT SNAPSHOT Recently Sold-Out

SAPPHIRE

252 9th Street at Howard | South of Market Average $/SqFt (closings): $1,051 Approximate absorption: 3 units/month Project info: 15 units, 4-stories, 0 parking spaces Date on Market: October 2015 Developer: Stan Chia Architect: Sia Consulting Features & Finishes: Wide-plank oak floors, Bertazzoni ranges/microwaves, Frigidaire refrigerators, Silostone counter tops, Ceramic-tiled bathrooms, Toto toilets Amenities: Bicycle storage, Storage lockers, Roof ter- race, Dog run Website: SapphireSF.com

CLOSING DETAILS

Unit Number Type SqFt HOA $ Parking Closing Price $/SqFt Closing Date 202 1/1 741 $439 0 $1,035 $767,000 3/22/16 304 2/1 833 $443 0 $1,020 $850,000 2/26/16 204 2/1 810 $442 0 $1,049 $850,000 2/25/16 302 1/1 764 $437 0 $1,025 $782,999 2/12/16 403 2/1 715 $436 0 $1,098 $785,000 2/2/16 201 1/1 634 $430 0 $1,039 $659,000 1/29/16 301 1/1 630 $430 0 $1,062 $669,000 1/29/16 303 2/1 715 $436 0 $1,049 $750,000 1/29/16 401 1/1 634 $430 0 $1,103 $699,000 1/28/16 404 2/1 833 $718 1 $1,050 $875,000 1/22/16

UNIT MIX

Number of Unit Type Units Size Range 1 - Bedroom 8 634 - 764 SqFt 2 - Bedroom 7 715 - 833 SqFt

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DEVELOPMENT SNAPSHOT Recently Sold-Out

ONYX ON THE PARK

310 Carolina Street at 17th | Potrero Hill Average $/SqFt (closings): $1,279 Project info: 21 units, 4-stories, 21 parking spaces Date on market: October 2015 Developer: SJK Development Architect: Gary Gee Features & Finishes: Deeded storage units, Wide- plank rustic-oak floors, PentalQuartz counter tops, Glass tile backsplash, High-gloss Barbosa cabinetry, LED lighting accents, Hans Grohe fixtures, Porcelain tile, Nest thermostats, Vent-out clothes dryer, Cat6 wiring, Security systems, Webpass Internet, Intercom/ video system, Individual water meters Amenities: Common area solar panels, Two-story lob- by, Roof terrace with BBQ/WIFI Website: OnyxSF.com

CLOSING DETAILS

Unit Type SqFt HOA $ Parking Closing Price $/SqFt Closing Date 406 2/2.5 1,272 $537 1 $1,735,000 $1,364 2/17/2016 402 1/1 897 $476 1 $1,099,000 $1,225 1/14/2016 405 1/1 722 $397 0 $889,000 $1,231 1/12/2016 202 1/1 844 $467 1 $1,149,000 $1,361 12/21/2015 305 1/1 724 $447 1 $890,000 $1,229 12/21/2015 303 2/2 877 $422 1 $1,135,000 $1,294 12/16/2015 201 1/1 881 $473 1 $1,100,000 $1,249 12/11/2015 205 1/1 706 $444 1 $949,000 $1,344 12/11/2015 203 2/2 916 $479 1 $1,149,000 $1,254 11/25/2015 204 2/2.5 1,209 $477 1 $1,525,000 $1,261 11/17/2015 207 2/2 1,271 $487 1 $1,365,000 $1,074 11/17/2015 301 1/1 903 $427 1 $1,129,000 $1,250 11/17/2015 302 1/1 898 $426 1 $1,029,000 $1,146 11/17/2015 401 1/1 903 $427 1 $1,350,000 $1,495 11/17/2015 404 2/2.5 1,242 $483 1 $1,750,000 $1,409 11/17/2015

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DEVELOPMENT SNAPSHOT Recently Sold-Out

ARDEN

718 & 738 Long Bridge Street at 4th | Mission Bay Approximate absorption: 65 units/month Average $/ SqFt (closings): $1,008 Developer: Bosa Development Architect: Chris Dikeakos Project info: 267 units, 0 BMRs, 16-stories Date on market: June 2014 All units in contract: Septem- ber 2014 Amenities: Attended lobbies, 75’ lap pool, spa, fitness center with changing rooms, resident’s lounge with kitch- en/billiards, numerous terraces, BBQ, library, electric car share, workshop, pet grooming facility, common area WIFI and USB ports, storage Features and Finishes: Hardwood floors, Whirlpool wash- er/dryers, walk-in closets, solid core interior doors, USB and fiber optic wiring, Caesarstone counter tops, Therma- dor appliances, Grohe plumbing fixtures

UNIT MIX

Number of Unit Type Units Size Range 1 - Bedroom 17 732 - 1,168 SqFt 2 - Bedroom 205 995 - 1,436 SqFt 3 - Bedroom 45 1,611 - 2,044 SqFt

ARDEN CLOSINGS ON FOLLOWING PAGES...

PG.28 SAN FRANCISCO RESIDENTIAL DEVELOPMENT APRIL 2016 CLICK TO RETURN TO THE NAVIGATION PAGE

DEVELOPMENT SNAPSHOT Currently Selling

CLOSING DETAILS - ARDEN

Unit Type SqFt HOA $* Parking Closing Price $/SqFt Sale Date 718 Long Bridge 504 2/1 + Den 1,007 $897 1 $1,345,000 $1,336 1/29/2016 718 Long Bridge 1401 2/2 1,234 $938 1 $1,382,100 $1,120 1/4/2016 718 Long Bridge 1302 2/2 + Den 1,407 $969 1 $1,551,400 $1,103 12/30/2015 718 Long Bridge 300 2/2 1,218 $938 1 $1,074,000 $882 12/23/2015 718 Long Bridge 1400 2/2 1,329 $953 1 $1,495,000 $1,125 12/18/2015 738 Long Bridge 616 1/1 723 $846 1 $882,800 $1,221 12/18/2015 718 Long Bridge 1501 2/2 1,234 $938 1 $1,419,500 $1,150 12/3/2015 718 Long Bridge 1502 2/2 + Den 1,407 $969 1 $1,614,500 $1,147 12/3/2015 718 Long Bridge 1503 3/3 1,958 $1,057 1 $2,463,500 $1,258 12/3/2015 718 Long Bridge 1505 2/2 1,563 $989 1 $1,891,500 $1,210 12/3/2015 718 Long Bridge 1600 2/2 1,327 $953 1 $1,591,000 $1,199 12/3/2015 718 Long Bridge 1601 2/2 1,234 $938 1 $1,477,500 $1,197 12/3/2015 718 Long Bridge 1602 2/2 + Den 1,407 $969 1 $1,660,500 $1,180 12/3/2015 718 Long Bridge 1603 3/3 1,958 $1,057 1 $2,366,500 $1,209 12/3/2015 718 Long Bridge 1605 2/2 1,563 $989 1 $1,967,500 $1,259 12/3/2015 738 Long Bridge 1506 3/2 1,618 $1,003 1 $1,896,500 $1,172 12/3/2015 738 Long Bridge 1507 3/2 1,668 $1,003 1 $1,965,000 $1,178 12/3/2015 738 Long Bridge 1508 2/2 1,285 $938 1 $1,558,000 $1,212 12/3/2015 738 Long Bridge 1509 3/3 1,950 $1,057 1 $2,395,500 $1,228 12/3/2015 738 Long Bridge 1510 2/2 1,459 $969 1 $1,809,000 $1,240 12/3/2015 738 Long Bridge 1606 3/2 1,618 $1,003 1 $1,938,000 $1,198 12/3/2015 738 Long Bridge 1608 2/2 1,285 $938 1 $1,556,000 $1,211 12/3/2015 738 Long Bridge 1609 3/3 1,950 $1,057 1 $2,700,000 $1,385 12/3/2015 738 Long Bridge 1610 2/2 1,459 $969 1 $1,791,500 $1,228 12/3/2015 738 Long Bridge 1611 2/2 1,018 $897 1 $1,230,000 $1,208 12/3/2015 718 Long Bridge 1300 2/2 1,327 $953 1 $1,470,000 $1,108 11/23/2015 718 Long Bridge 1301 2/2 1,234 $938 1 $1,361,000 $1,103 11/23/2015 718 Long Bridge 1303 3/3 1,958 $1,057 1 $2,341,000 $1,196 11/23/2015 718 Long Bridge 1305 2/2 1,563 $989 1 $1,831,500 $1,172 11/23/2015 738 Long Bridge 1306 3/2 1,618 $1,003 1 $1,815,100 $1,122 11/23/2015 738 Long Bridge 1307 3/2 1,668 $1,003 1 $1,881,000 $1,128 11/23/2015 738 Long Bridge 1308 2/2 1,285 $938 1 $1,497,000 $1,165 11/23/2015 738 Long Bridge 1309 3/3 1,950 $1,057 1 $2,234,500 $1,146 11/23/2015 738 Long Bridge 1310 2/2 1,459 $969 1 $1,716,000 $1,176 11/23/2015 738 Long Bridge 1311 2/2 1,018 $897 1 $1,163,500 $1,143 11/23/2015 738 Long Bridge 1406 3/2 1,618 $1,003 1 $1,842,500 $1,139 11/23/2015 738 Long Bridge 1407 3/2 1,668 $1,003 1 $1,854,000 $1,112 11/23/2015 738 Long Bridge 1408 2/2 1,285 $938 1 $1,504,500 $1,171 11/23/2015 738 Long Bridge 1409 3/3 1,950 $1,057 1 $2,334,500 $1,197 11/23/2015 738 Long Bridge 1410 2/2 1,459 $969 1 $1,740,500 $1,193 11/23/2015 738 Long Bridge 1411 2/2 1,018 $897 1 $1,181,500 $1,161 11/23/2015 718 Long Bridge 1100 2/2 1,327 $953 1 $1,411,000 $1,063 11/20/2015 718 Long Bridge 1101 2/2 1,234 $938 1 $1,305,500 $1,058 11/20/2015 718 Long Bridge 1102 2/2 + Den 1,407 $969 1 $1,504,500 $1,069 11/20/2015 718 Long Bridge 1103 3/3 1,958 $1,057 1 $2,298,000 $1,174 11/20/2015 718 Long Bridge 1104 2/2 + Den 1,463 $969 1 $1,602,000 $1,095 11/20/2015 718 Long Bridge 1105 2/2 1,563 $989 1 $1,779,500 $1,139 11/20/2015 718 Long Bridge 1201 2/2 1,234 $938 1 $1,339,500 $1,085 11/20/2015 718 Long Bridge 1202 2/2 + Den 1,407 $969 1 $1,498,000 $1,065 11/20/2015 718 Long Bridge 1203 3/3 1,958 $1,057 1 $2,331,500 $1,191 11/20/2015 718 Long Bridge 1204 2/2 + Den 1,463 $969 1 $1,578,500 $1,079 11/20/2015 738 Long Bridge 1106 3/2 1,618 $1,003 1 $1,759,500 $1,087 11/20/2015 738 Long Bridge 1107 3/2 1,668 $1,003 1 $1,842,100 $1,104 11/20/2015 738 Long Bridge 1109 3/3 1,950 $1,057 1 $2,241,600 $1,150 11/20/2015 738 Long Bridge 1110 2/2 1,459 $969 1 $1,684,000 $1,154 11/20/2015 738 Long Bridge 1111 2/2 1,018 $897 1 $1,127,000 $1,107 11/20/2015 738 Long Bridge 1206 3/2 1,618 $1,003 1 $1,787,000 $1,104 11/20/2015 738 Long Bridge 1207 3/2 1,668 $1,003 1 $1,871,000 $1,122 11/20/2015 738 Long Bridge 1209 3/3 1,950 $1,057 1 $2,272,500 $1,165 11/20/2015 738 Long Bridge 1211 2/2 1,018 $897 1 $1,112,000 $1,092 11/20/2015 718 Long Bridge 1000 2/2 1,325 $953 1 $1,401,000 $1,057 11/19/2015 718 Long Bridge 1001 2/2 1,222 $938 1 $1,288,000 $1,054 11/19/2015 718 Long Bridge 1003 3/3 1,952 $1,057 1 $2,013,000 $1,031 11/19/2015 718 Long Bridge 1004 2/2 + Den 1,462 $969 1 $1,624,500 $1,111 11/19/2015 718 Long Bridge 1005 2/2 1,563 $989 1 $1,754,000 $1,122 11/19/2015 738 Long Bridge 1006 3/2 1,611 $1,003 1 $1,704,000 $1,058 11/19/2015

*HOA dues are approximate. ARDEN CLOSINGS CONTINUED ON FOLLOWING PAGE...

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DEVELOPMENT SNAPSHOT Currently Selling

CLOSING DETAILS - ARDEN

Unit Type SqFt HOA $* Parking Closing Price $/SqFt Sale Date 738 Long Bridge 1007 3/2 1,666 $1,003 1 $1,793,000 $1,076 11/19/2015 738 Long Bridge 1008 2/2 1,290 $938 1 $1,434,000 $1,112 11/19/2015 738 Long Bridge 1009 3/3 1,945 $1,057 1 $2,205,500 $1,134 11/19/2015 738 Long Bridge 1011 1/1 + Den 835 $884 1 $911,000 $1,091 11/19/2015 718 Long Bridge 900 2/2 1,337 $953 1 $1,342,500 $1,004 11/16/2015 718 Long Bridge 901 2/2 1,227 $938 1 $1,228,000 $1,001 11/16/2015 718 Long Bridge 902 2/2 + Den 1,413 $969 1 $1,401,500 $992 11/16/2015 718 Long Bridge 903 3/3 1,804 $1,035 1 $1,877,500 $1,041 11/16/2015 718 Long Bridge 904 2/2 + Den 1,462 $969 1 $1,416,500 $969 11/16/2015 718 Long Bridge 905 2/2 1,565 $989 1 $1,609,500 $1,028 11/16/2015 738 Long Bridge 909 2/2 1,231 $938 1 $1,199,000 $974 11/16/2015 738 Long Bridge 910 2/2 1,422 $969 1 $1,420,000 $999 11/16/2015 738 Long Bridge 911 2/2 1,290 $938 1 $1,286,500 $997 11/16/2015 738 Long Bridge 912 3/2 1,951 $1,057 1 $1,993,500 $1,022 11/16/2015 738 Long Bridge 913 2/2 1,456 $969 1 $1,431,500 $983 11/16/2015 738 Long Bridge 914 2/2 1,177 $920 1 $1,134,000 $963 11/16/2015 718 Long Bridge 700 2/2 1,325 $953 1 $1,288,500 $972 11/9/2015 718 Long Bridge 701 2/2 1,231 $938 1 $1,188,500 $965 11/9/2015 718 Long Bridge 702 2/2 + Den 1,414 $969 1 $1,342,000 $949 11/9/2015 718 Long Bridge 703 3/3 1,804 $1,035 1 $1,817,500 $1,007 11/9/2015 718 Long Bridge 704 2/2 + Den 1,465 $969 1 $1,431,500 $977 11/9/2015 718 Long Bridge 801 2/2 1,238 $938 1 $1,191,000 $962 11/9/2015 718 Long Bridge 802 2/2 + Den 1,418 $969 1 $1,368,000 $965 11/9/2015 718 Long Bridge 803 3/3 1,804 $1,035 1 $1,794,000 $994 11/9/2015 718 Long Bridge 804 2/2 + Den 1,463 $969 1 $1,435,000 $981 11/9/2015 718 Long Bridge 805 2/2 1,561 $989 1 $1,565,500 $1,003 11/9/2015 738 Long Bridge 706 2/2 + Den 1,328 $953 1 $1,306,500 $984 11/9/2015 738 Long Bridge 707 2/2 + Den 1,315 $953 1 $1,263,500 $961 11/9/2015 738 Long Bridge 708 2/2 1,309 $953 1 $1,243,500 $950 11/9/2015 738 Long Bridge 709 2/2 1,230 $938 1 $1,156,500 $940 11/9/2015 738 Long Bridge 710 2/2 1,413 $969 1 $1,379,000 $976 11/9/2015 738 Long Bridge 711 2/2 1,285 $938 1 $1,167,500 $909 11/9/2015 738 Long Bridge 712 3/2 1,945 $1,057 1 $1,872,000 $962 11/9/2015 738 Long Bridge 713 2/2 1,455 $969 1 $1,484,100 $1,020 11/9/2015 738 Long Bridge 715 2/2 + Den 1,244 $938 1 $1,290,000 $1,037 11/9/2015 738 Long Bridge 717 2/2 + Den 1,411 $969 1 $1,368,000 $970 11/9/2015 738 Long Bridge 807 2/2 + Den 1,315 $953 1 $1,286,000 $978 11/9/2015 738 Long Bridge 808 2/2 1,309 $953 1 $1,241,000 $948 11/9/2015 738 Long Bridge 809 2/2 1,230 $938 1 $1,177,000 $957 11/9/2015 738 Long Bridge 810 2/2 1,417 $969 1 $1,392,000 $982 11/9/2015 738 Long Bridge 811 2/2 1,292 $938 1 $1,266,000 $980 11/9/2015 738 Long Bridge 812 3/2 1,946 $1,057 1 $2,036,000 $1,046 11/9/2015 738 Long Bridge 813 2/2 1,456 $969 1 $1,408,500 $967 11/9/2015 738 Long Bridge 814 2/2 1,175 $920 1 $1,192,500 $1,015 11/9/2015 738 Long Bridge 815 2/2 + Den 1,248 $938 1 $1,315,000 $1,054 11/9/2015 738 Long Bridge 816 2/2 + Den 1,431 $969 1 $1,371,000 $958 11/9/2015 738 Long Bridge 817 2/2 + Den 1,435 $969 1 $1,408,000 $981 11/9/2015 718 Long Bridge 600 2/2 1,345 $953 1 $1,280,500 $952 11/4/2015 718 Long Bridge 602 2/2 1,118 $920 1 $1,118,500 $1,000 11/4/2015 718 Long Bridge 603 3/3 1,786 $1,027 1 $1,772,500 $992 11/4/2015 718 Long Bridge 604 2/2 1,385 $953 1 $1,279,000 $923 11/4/2015 718 Long Bridge 605 3/3 + Den 2,038 $1,072 1 $2,064,000 $1,013 11/4/2015 718 Long Bridge 607 2/2 + Den 1,340 $953 1 $1,263,000 $943 11/4/2015 738 Long Bridge 608 2/2 + Den 1,308 $953 1 $1,269,500 $971 11/4/2015 738 Long Bridge 609 2/2 + Den 1,314 $953 1 $1,240,500 $944 11/4/2015 738 Long Bridge 610 2/2 1,309 $953 1 $1,197,500 $915 11/4/2015 738 Long Bridge 611 2/2 1,251 $938 1 $1,181,000 $944 11/4/2015 738 Long Bridge 612 2/2 1,433 $969 1 $1,369,500 $956 11/4/2015 738 Long Bridge 614 3/2 1,943 $1,057 1 $1,891,000 $973 11/4/2015 738 Long Bridge 615 2/2 1,436 $969 1 $1,348,500 $939 11/4/2015 738 Long Bridge 617 1/1 + Den 889 $884 1 $885,500 $996 11/4/2015 738 Long Bridge 618 2/2 + Den 1,430 $969 1 $1,325,000 $927 11/4/2015 738 Long Bridge 619 2/2 + Den 1,415 $969 1 $1,348,000 $953 11/4/2015 718 Long Bridge 500 2/2 1,317 $953 1 $1,195,500 $908 10/27/2015 718 Long Bridge 501 2/2 1,218 $938 1 $1,137,000 $933 10/27/2015 718 Long Bridge 502 2/2 1,131 $920 1 $1,125,500 $995 10/27/2015

*HOA dues are approximate. ARDEN CLOSINGS CONTINUED ON FOLLOWING PAGE...

PG.30 SAN FRANCISCO RESIDENTIAL DEVELOPMENT APRIL 2016 CLICK TO RETURN TO THE NAVIGATION PAGE DEVELOPMENT SNAPSHOT Currently Selling CLOSING DETAILS - ARDEN

Unit Type SqFt HOA $* Parking Closing Price $/SqFt Sale Date 718 Long Bridge 503 3/3 1,795 $1,027 1 $1,752,500 $976 10/27/2015 718 Long Bridge 505 3/3 + Den 2,044 $1,072 1 $1,950,500 $954 10/27/2015 718 Long Bridge 506 2/2 + Den 1,353 $953 1 $1,244,500 $920 10/27/2015 718 Long Bridge 507 2/2 + Den 1,356 $953 1 $1,251,000 $923 10/27/2015 718 Long Bridge 508 2/2 + Den 1,263 $938 1 $1,234,000 $977 10/27/2015 738 Long Bridge 509 2/2 + Den 1,267 $938 1 $1,180,500 $932 10/27/2015 738 Long Bridge 514 3/3 1,958 $1,057 1 $1,876,000 $958 10/27/2015 738 Long Bridge 515 2/2 1,454 $969 1 $1,448,500 $996 10/27/2015 738 Long Bridge 517 2/2 + Den 1,425 $969 1 $1,316,000 $924 10/27/2015 738 Long Bridge 518 2/2 + Den 1,414 $969 1 $1,342,000 $949 10/27/2015 718 Long Bridge 400 2/2 1,216 $938 1 $1,099,000 $904 10/26/2015 718 Long Bridge 401 1/1 + Den 893 $884 1 $895,500 $1,003 10/26/2015 718 Long Bridge 402 2/2 + Den 1,292 $938 1 $1,165,500 $902 10/26/2015 718 Long Bridge 403 2/2 + Den 1,291 $938 1 $1,165,000 $902 10/26/2015 718 Long Bridge 416 2/2 + Den 1,387 $953 1 $1,288,500 $929 10/26/2015 718 Long Bridge 417 2/2 + Den 1,380 $953 1 $1,246,500 $903 10/26/2015 718 Long Bridge 418 2/2 + Den 1,387 $953 1 $1,301,500 $938 10/26/2015 718 Long Bridge 419 2/2 + Den 1,386 $953 1 $1,301,000 $939 10/26/2015 718 Long Bridge 420 3/3 + Den 1,973 $1,057 1 $1,833,000 $929 10/26/2015 718 Long Bridge 421 2/2 + Den 1,265 $938 1 $1,163,000 $919 10/26/2015 718 Long Bridge 422 2/2 1,111 $920 1 $1,044,500 $940 10/26/2015 718 Long Bridge 423 1/1 + Den 880 $884 1 $855,000 $972 10/26/2015 718 Long Bridge 424 2/2 1,247 $938 1 $1,152,000 $924 10/26/2015 738 Long Bridge 404 2/2 + Den 1,292 $938 1 $1,165,500 $902 10/26/2015 738 Long Bridge 405 2/2 + Den 1,310 $953 1 $1,177,500 $899 10/26/2015 738 Long Bridge 406 2/2 + Den 1,438 $969 1 $1,238,000 $861 10/26/2015 738 Long Bridge 407 2/2 + Den 1,614 $1,003 1 $1,384,000 $857 10/26/2015 738 Long Bridge 408 2/2 1,261 $938 1 $1,189,000 $943 10/26/2015 738 Long Bridge 409 2/2 + Den 1,481 $969 1 $1,244,500 $840 10/26/2015 738 Long Bridge 410 2/2 1,560 $989 1 $1,279,500 $820 10/26/2015 738 Long Bridge 411 2/2 1,544 $989 1 $1,377,500 $892 10/26/2015 738 Long Bridge 412 2/2 + Den 1,379 $953 1 $1,283,000 $930 10/26/2015 738 Long Bridge 413 1/2 + Den 1,168 $920 1 $961,500 $823 10/26/2015 738 Long Bridge 415 2/2 + Den 1,378 $953 1 $1,295,000 $940 10/26/2015 718 Long Bridge 301 1/1 + Den 889 $884 1 $818,000 $920 10/23/2015 718 Long Bridge 302 2/2 + Den 1,291 $938 1 $1,137,500 $881 10/23/2015 718 Long Bridge 303 2/2 + Den 1,290 $938 1 $1,137,000 $881 10/23/2015 718 Long Bridge 317 2/2 + Den 1,378 $953 1 $1,272,500 $923 10/23/2015 718 Long Bridge 318 2/2 + Den 1,378 $953 1 $1,272,500 $923 10/23/2015 718 Long Bridge 319 2/2 + Den 1,378 $953 1 $1,297,500 $942 10/23/2015 718 Long Bridge 320 3/3 + Den 1,970 $1,057 1 $1,909,000 $969 10/23/2015 718 Long Bridge 322 2/2 1,128 $920 1 $986,000 $874 10/23/2015 718 Long Bridge 323 1/1 + Den 885 $884 1 $816,500 $923 10/23/2015 718 Long Bridge 324 2/2 1,247 $938 1 $1,125,000 $902 10/23/2015 738 Long Bridge 305 2/2 + Den 1,310 $953 1 $1,127,500 $861 10/23/2015 738 Long Bridge 306 2/2 + Den 1,438 $969 1 $1,174,500 $817 10/23/2015 738 Long Bridge 308 2/2 1,263 $938 1 $1,145,500 $907 10/23/2015 738 Long Bridge 309 2/2 + Den 1,480 $969 1 $1,295,000 $875 10/23/2015 738 Long Bridge 310 2/2 1,560 $989 1 $1,255,000 $804 10/23/2015 738 Long Bridge 311 2/2 1,572 $989 1 $1,372,500 $873 10/23/2015 738 Long Bridge 312 2/2 + Den 1,407 $969 1 $1,318,000 $937 10/23/2015 738 Long Bridge 315 2/2 + Den 1,372 $953 1 $1,293,500 $943 10/23/2015 718 Long Bridge 200 1/1 + Den 891 $884 1 $803,500 $902 10/21/2015 718 Long Bridge 201 2/2 + Den 1,290 $938 1 $1,088,000 $843 10/21/2015 718 Long Bridge 202 2/2 + Den 1,290 $938 1 $1,109,500 $860 10/21/2015 718 Long Bridge 216 2/2 + Den 1,376 $953 1 $1,273,000 $925 10/21/2015 718 Long Bridge 217 2/2 + Den 1,376 $953 1 $1,273,000 $925 10/21/2015 718 Long Bridge 218 3/3 + Den 1,962 $1,057 1 $1,869,000 $953 10/21/2015 718 Long Bridge 219 1/1 + Den 1,251 $938 1 $891,000 $712 10/21/2015 718 Long Bridge 220 1/1 875 $884 1 $783,500 $895 10/21/2015 738 Long Bridge 203 2/2 + Den 1,290 $938 1 $1,109,500 $860 10/21/2015 738 Long Bridge 206 3/3 1,877 $1,035 1 $1,553,500 $828 10/21/2015 738 Long Bridge 208 2/2 1,559 $989 1 $1,280,500 $821 10/21/2015 718 Long Bridge 100 1/1 + Den 839 $884 1 $781,176 $931 10/16/2015 718 Long Bridge 102 2/2 + Den 1,214 $938 1 $974,500 $803 10/16/2015 718 Long Bridge 113 2/2 + Den 1,291 $938 1 $1,114,000 $863 10/16/2015 738 Long Bridge 110 1/2 + Den 1,119 $920 1 $908,500 $812 10/16/2015 738 Long Bridge 304 2/2 + Den 1,292 $938 1 $1,138,000 $881 10/13/2015 738 Long Bridge 613 2/2 1,281 $938 1 $1,144,000 $893 9/25/2015 718 Long Bridge 1402 2/2 + Den 1,407 $969 1 $1,575,000 $1,119 9/23/2015

*HOA dues are approximate. ARDEN CLOSINGS CONTINUED ON FOLLOWING PAGE...

PG.31 SAN FRANCISCO RESIDENTIAL DEVELOPMENT APRIL 2016 CLICK TO RETURN TO THE NAVIGATION PAGE DEVELOPMENT SNAPSHOT Currently Selling CLOSING DETAILS - ARDEN

Unit Type SqFt HOA $* Parking Closing Price $/SqFt Sale Date 738 Long Bridge 106 1/1 888 $884 1 $760,000 $856 10/16/15 738 Long Bridge 1511 2/2 1,018 $897 1 $1,181,500 $1,161 12/3/15 738 Long Bridge 313 1/2 + Den 1,155 $920 1 $940,500 $814 10/23/15 738 Long Bridge 211 1/2 + Den 1,163 $920 1 $998,500 $859 10/21/15 738 Long Bridge 714 2/2 1,170 $920 1 $1,090,000 $932 11/9/15 738 Long Bridge 104 2/2 + Den 1,200 $938 1 $986,000 $822 10/15/15 738 Long Bridge 512 2/2 1,206 $938 1 $1,146,500 $951 10/27/15 718 Long Bridge 101 2/2 + Den 1,221 $938 1 $1,029,000 $843 9/25/15 718 Long Bridge 221 2/2 1,239 $938 1 $1,093,000 $882 10/21/15 738 Long Bridge 915 2/2 1,249 $938 1 $1,487,500 $1,191 11/16/15 738 Long Bridge 510 2/2 1,257 $938 1 $1,498,000 $1,192 1/20/16 718 Long Bridge 321 2/2 + Den 1,263 $938 1 $1,140,000 $903 10/23/15 738 Long Bridge 511 2/2 1,264 $938 1 $1,129,000 $893 10/27/15 738 Long Bridge 109 2/2 + Den 1,270 $938 1 $1,058,000 $833 10/16/15 738 Long Bridge 111 2/2 + Den 1,281 $938 1 $1,096,500 $856 10/16/15 738 Long Bridge 1208 2/2 1,285 $938 1 $1,460,000 $1,136 11/20/15 738 Long Bridge 513 2/2 1,285 $938 1 $1,167,500 $909 10/27/15 718 Long Bridge 114 2/2 + Den 1,288 $938 1 $1,101,000 $855 10/16/15 718 Long Bridge 116 2/2 + Den 1,289 $938 1 $1,135,000 $881 10/16/15 738 Long Bridge 112 2/2 + Den 1,290 $938 1 $1,135,500 $880 10/16/15 718 Long Bridge 115 2/2 + Den 1,291 $938 1 $1,114,000 $863 10/16/15 738 Long Bridge 204 2/2 + Den 1,309 $953 1 $1,100,000 $840 10/21/15 738 Long Bridge 908 2/2 1,310 $953 1 $1,289,000 $984 11/16/15 738 Long Bridge 907 2/2 1,312 $953 1 $1,421,500 $1,083 11/16/15 718 Long Bridge 1500 2/2 1,327 $953 1 $1,530,500 $1,153 12/3/15 738 Long Bridge 806 2/2 + Den 1,328 $953 1 $1,650,000 $1,242 3/3/16 738 Long Bridge 906 2/2 1,328 $953 1 $1,468,500 $1,106 11/16/15 718 Long Bridge 800 2/2 1,331 $953 1 $1,315,500 $988 11/9/15 718 Long Bridge 606 2/2 + Den 1,364 $953 1 $1,275,000 $935 11/4/15 738 Long Bridge 314 2/2 + Den 1,364 $953 1 $1,262,500 $926 10/23/15 738 Long Bridge 212 2/2 + Den 1,366 $953 1 $1,241,500 $909 10/21/15 738 Long Bridge 414 2/2 + Den 1,370 $953 1 $1,239,500 $905 10/26/15 718 Long Bridge 214 2/2 + Den 1,374 $953 1 $1,246,500 $907 10/21/15 738 Long Bridge 213 2/2 + Den 1,374 $953 1 $1,246,000 $907 10/21/15 718 Long Bridge 215 2/2 + Den 1,376 $953 1 $1,273,000 $925 10/21/15 738 Long Bridge 105 2/2 + Den 1,402 $969 1 $1,163,500 $830 10/16/15 738 Long Bridge 107 2/2 + Den 1,415 $969 1 $1,179,500 $834 10/16/15 738 Long Bridge 716 2/2 + Den 1,425 $969 1 $1,440,500 $1,011 11/9/15 738 Long Bridge 917 2/2 1,436 $969 1 $1,575,500 $1,097 11/16/15 738 Long Bridge 205 2/2 + Den 1,437 $969 1 $1,180,500 $822 10/21/15 738 Long Bridge 1010 2/2 1,452 $969 1 $1,790,100 $1,233 3/9/16 738 Long Bridge 1210 2/2 1,459 $969 1 $1,691,500 $1,159 11/20/15 718 Long Bridge 1604 2/2 + Den 1,463 $969 1 $1,828,500 $1,250 12/3/15 718 Long Bridge 1404 2/2 + Den 1,463 $969 1 $1,673,000 $1,144 11/23/15 738 Long Bridge 108 2/2 1,500 $989 1 $1,290,500 $860 10/16/15 738 Long Bridge 1607 3/2 1,668 $1,003 1 $1,969,000 $1,180 2/3/15 718 Long Bridge 117 3/3 1,754 $1,027 1 $1,594,500 $909 10/16/15

*HOA dues are approximate.

PG.32 SAN FRANCISCO RESIDENTIAL DEVELOPMENT APRIL 2016 CLICK TO RETURN TO THE NAVIGATION PAGE

DEVELOPMENT SNAPSHOT Recently Sold-Out

THE SAN FRANCISCO SHIPYARD (1st Release) Donahue & Friedell Street | Hunters Point Average $/SqFt (closings): Merchant: $666; Olympia: $642 Approximate absorption: 10 units/month Developer: Lennar Urban Date on market: June 2014 Project info: 63-unit, 5-story condominium building (Merchant) & 25 townhomes (Olympia), 9 BMRs Amenities: Community park, shuttle service, roof terrace (Merchant) Features & Finishes: Attached garages (Olympia), balconies & patios, Bay & City views, walk-in closets, Barbosa cabinetry, Bosch appliances, quartz and Corian counter tops, porcelain tile, sustainable Plyboo bamboo floors

CLOSING DETAILS - OLYMPIA

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

MERCHANT CLOSINGS ON FOLLOWING PAGE...

PG.33 SAN FRANCISCO RESIDENTIAL DEVELOPMENT APRIL 2016 CLICK TO RETURN TO THE NAVIGATION PAGE

DEVELOPMENT SNAPSHOT Currently Selling

CLOSING DETAILS - SHIPYARD/MERCHANT

Unit Type SqFt HOA $ Parking Closing Price $/SqFt Sale Date 451 Donahue 404 2/2 921 $463 1 $707,000 $768 10/22/2015 451 Donahue 502 2/2 1,013 $477 1 $709,000 $700 10/22/2015 451 Donahue 509 2/2 1,013 $477 1 $680,500 $672 10/22/2015 451 Donahue 510 2/2 1,025 $477 1 $720,500 $703 10/22/2015 451 Donahue 211 1/1 691 $414 1 $468,500 $678 9/29/2015 451 Donahue 303 1/1 738 $426 1 $466,500 $632 9/29/2015 451 Donahue 307 1/1 691 $414 1 $492,500 $713 9/29/2015 451 Donahue 402 2/2 1,013 $477 1 $689,000 $680 9/29/2015 451 Donahue 411 1/1 691 $414 1 $488,500 $707 9/29/2015 451 Donahue 503 1/1 738 $426 1 $496,500 $673 9/29/2015 451 Donahue 507 2/2 935 $463 1 $658,000 $704 9/29/2015 451 Donahue 508 1/1 738 $426 1 $511,000 $692 9/29/2015 451 Donahue 318 2/2 1,021 $477 1 $646,000 $633 9/28/2015 451 Donahue 208 3/2 1,158 $504 1 $739,000 $638 9/14/2015 451 Donahue 216 2/2 922 $462 1 $561,000 $608 9/14/2015 451 Donahue 315 2/2 995 $463 1 $562,500 $565 9/14/2015 451 Donahue 405 1/1 744 $426 1 $486,500 $654 9/14/2015 451 Donahue 412 1/1 691 $414 1 $472,500 $684 9/14/2015 451 Donahue 416 1/1 738 $426 1 $488,500 $662 9/14/2015 451 Donahue 202 2/2 922 $463 1 $628,600 $682 1/23/2015 451 Donahue 215 1/1 738 $425 1 $476,000 $645 1/23/2015 451 Donahue 414 1/1 744 $426 1 $498,500 $670 1/22/2015 451 Donahue 417 2/2 1,013 $476 1 $597,000 $589 1/22/2015 451 Donahue 418 2/2 1,025 $476 1 $619,000 $604 1/22/2015 451 Donahue 504 2/2 921 $463 1 $756,000 $821 1/22/2015 451 Donahue 316 1/1 738 $426 1 $481,000 $652 1/21/2015 451 Donahue 401 2/2 1,025 $477 1 $680,500 $664 1/21/2015 451 Donahue 408 1/1 691 $414 1 $486,500 $704 1/21/2015 451 Donahue 308 1/1 691 $414 1 $476,500 $690 1/16/2015 451 Donahue 309 1/1 595 $391 1 $468,500 $787 1/16/2015 451 Donahue 312 1/1 691 $414 1 $452,500 $655 1/16/2015 451 Donahue 313 2/2 1,015 $477 1 $627,000 $618 1/16/2015 451 Donahue 314 1/1 744 $426 1 $464,000 $624 1/16/2015 451 Donahue 217 2/2 1,027 $476 1 $597,000 $581 1/14/2015 451 Donahue 301 2/2 1,025 $476 1 $621,000 $606 1/14/2015 451 Donahue 302 2/2 922 $463 1 $616,500 $669 1/14/2015 451 Donahue 304 2/2 921 $463 1 $641,000 $696 1/14/2015 451 Donahue 306 2/2 1,015 $476 1 $689,000 $679 1/14/2015 451 Donahue 203 1/1 738 $426 1 $467,000 $633 1/13/2015 451 Donahue 204 2/2 921 $462 1 $641,000 $696 1/13/2015 451 Donahue 205 1/1 744 $426 1 $466,500 $627 1/13/2015 451 Donahue 206 2/2 933 $463 1 $666,000 $714 1/13/2015 451 Donahue 210 1/1 691 $413 1 $456,500 $661 1/13/2015

PG.34 SAN FRANCISCO RESIDENTIAL DEVELOPMENT APRIL 2016 CLICK TO RETURN TO THE NAVIGATION PAGE

DEVELOPMENT SNAPSHOT Resale

MILLENNIUM TOWER

301 Mission Street at Fremont | SOMA Average $/SqFt (last 9 months): $1,587 Developer: Millennium Partners Architect: Handel Architects Project info: 419 units, 58-story high-rise & 11-story mid-rise Date on market: November 2007 Sold-out: April 2013 Amenities: Concierge, resident’s lounge, tasting room and cellar, private dining room, screening room, children’s playroom, outdoor terrace, 5,500 square- foot fitness center with Pilates/yoga studios/massage service/locker rooms/spa room/steam room/75-foot indoor lap pool Finishes: Hardwood floors, Studio Becker cabinetry, marble/quartzite counter tops, Sub-Zero/Wolfe/Miele/ GE/Bosch/U-Line appliances

CLOSING DETAILS

Unit Type SqFt HOA $ Parking Closing Price $/SqFt Closing Date 33C 3/3.5 2,170 $2,114 1 $3,500,000 $1,613 3/31/16 606 1/2 1,633 $2,127 1 $1,900,000 $1,164 3/17/16 601 2/2 1,955 $2,178 1 $2,600,000 $1,330 1/22/16 25B 1/1 674 $1,133 0 $1,050,000 $1,558 12/2/15 49D 2/3 + Den 2,230 $2,315 2 $4,180,000 $1,874 11/6/15 51D 2/3 + Den 2,230 $2,125 1 $4,250,000 $1,906 10/19/15 18C 1/1 833 $1,157 0 $1,218,000 $1,462 9/14/15 38F 3/2 1,601 $1,945 1 $2,450,000 $1,530 7/31/15

PG.35 SAN FRANCISCO RESIDENTIAL DEVELOPMENT APRIL 2016 CLICK TO RETURN TO THE NAVIGATION PAGE

DEVELOPMENT SNAPSHOT Resale

ONE RINCON HILL

425 1st Street | SOMA & 489 Harrison Street Average $/SqFt (last 9 months): $1,453 Developer: Urban West Associates Architect: SCB Project info: 376 units, 60-stories Date on market: January 2006 Sold-out: November 2012 Finishes: Hardwood floors, Del Tongo cabinetry, Sub- Zero refrigerators, Bosch appliances Amenities: 24-hour doorman, concierge, high-speed Internet access, fitness center, resident’s lounge with catering kitchen, valet parking, full-size swimming pool, outdoor kitchen, outdoor fireplace

CLOSING DETAILS

Unit Type SqFt HOA $ Parking Closing Price $/SqFt Closing Date 1902 2/2 1,309 $878 1 $2,190,000 $1,673 3/4/16 6003 3/2 1,677 $921 1 $3,700,000 $2,206 2/29/16 3206 2/2 1,238 $870 1 $1,800,000 $1,454 2/12/16 4905 1/1 710 $808 1 $1,007,000 $1,418 1/4/16 802 2/2 1,309 $875 1 $1,340,000 $1,024 12/22/15 2106 2/2 1,238 $870 1 $1,675,000 $1,353 11/3/15 489 Harrison 405 3/2.5 2,354 $944 1 $2,700,000 $1,147 10/20/15 4105 1/1 710 $808 1 $992,000 $1,397 10/5/15 5008 1/1 755 $813 1 $1,325,000 $1,755 8/31/15 906 2/2 1,238 $910 1 $1,380,000 $1,115 8/25/15 5005 1/1 710 $808 1 $1,050,000 $1,479 8/25/15 2702 2/2 1,309 $878 1 $2,050,000 $1,566 7/23/15 2706 2/2 1,238 $870 1 $1,745,000 $1,410 7/21/15

PG.36 SAN FRANCISCO RESIDENTIAL DEVELOPMENT APRIL 2016 CLICK TO RETURN TO THE NAVIGATION PAGE

DEVELOPMENT SNAPSHOT Resale

THE INFINITY 301 & 333 Main Street, 318 & 338 Spear Street | South Beach Average $/SqFt (last 9 months): $1,477 Developer: Tishman Speyer Architect: Heller Manus/Bernardo Fort-Brescia of Arquitectonica Project info: 650 units, one 37- and one 42-story high rise, one 8- and one 9-story podium Date on market: June 2006 Sold-out: March 2011 Finishes: Granite counter tops, Studio Becker cabin- etry, Watermark and Kohler fixtures, Bosch applianc- es, Bamboo flooring Amenities: Attended lobbies with concierge ser- vices, courtyards, 5,000 square foot fitness center, 75-foot indoor lap pool, sauna, resident’s lounge with catering kitchen, business center, screening room

CLOSING DETAILS

Unit Type SqFt HOA $ Parking Closing Price $/SqFt Closing Date 333 Main 8E 0/1 568 $840 1 $749,000 $1,319 3/31/16 301 Main 17B 2/2 1,317 $929 1 $2,050,000 $1,557 2/24/16 338 Spear 21C 1/1 808 $862 1 $1,525,000 $1,887 2/23/16 338 Spear 39A 2/2 N/A $899 1 $2,750,000 N/A 12/23/15 338 Spear 4C 1/1 799 $837 1 $949,000 $1,188 12/23/15 333 Main 8H 2/1 841 $843 1 $972,000 $1,156 12/8/15 301 Main 5C 2/2.5 + Den 1,752 $954 1 $2,300,000 $1,313 12/4/15 301 Main 28F 2/2 1,323 $905 1 $2,199,000 $1,662 12/1/15 338 Spear 10B 2/2 + Den 1,316 $905 1 $1,480,000 $1,125 11/17/15 301 Main 23C 1/1 809 $838 1 $1,425,000 $1,761 11/16/15 301 Main 27F 2/2 1,307 $901 1 $2,260,000 $1,729 10/9/15 333 Main 5D 1/1 824 $842 1 $925,000 $1,123 10/8/15 338 Spear 31E 2/2 1,340 $907 1 $2,499,000 $1,865 10/2/15 318 Spear IT4H 1/1 836 $843 1 $959,000 $1,147 9/23/15 301 Main 30F 2/2 1,323 $905 1 $2,250,000 $1,701 8/21/15 301 Main 16C 1/1 809 $838 1 $1,300,000 $1,607 8/19/15 318 Spear 4L 1/1 798 $838 1 $933,000 $1,169 8/18/15 338 Spear 42A 2/2 N/A $899 1 $3,550,000 N/A 8/3/15 301 Main T25E 2/2 1,180 $885 1 $1,750,000 $1,483 7/16/15 338 Spear 26G 1/1 807 $838 1 $1,175,000 $1,456 7/16/15

PG.37 SAN FRANCISCO RESIDENTIAL DEVELOPMENT APRIL 2016 CLICK TO RETURN TO THE NAVIGATION PAGE

DEVELOPMENT SNAPSHOT Resale

MADRONE

420 & 480 Mission Bay Boulevard, 435 China Basin Street | Mission Bay Average $/SqFt (last 9 months): $1,251 Developer: Bosa Development Architect: Perkins & Company Project info: 329 units, 14-stories, One-to-one parking Date on market: Q3 2011 Sold-out: Q1 2013 Finishes: Caesarstone counter tops, Bosch dish- washers, Oak and maple flooring, Whirlpool washer/ dryers Amenities: Outdoor pool and spa, Lounge with kitchen, Roof terrace with fireplace, BBQ, Fitness center, Screening room, Attended lobby

CLOSING DETAILS

Unit Type SqFt HOA $ Parking Closing Price $/SqFt Closing Date 435 China Basin 337 2/2 1,372 $789 1 $1,355,000 $988 3/25/16 480 Mission Bay 1607 2/2 1,576 $849 1 $2,150,000 $1,364 3/14/16 420 Mission Bay 303 1/1 + Den 1,074 $751 1 $1,175,000 $1,094 3/8/16 480 Mission Bay 1006 2/2 1,497 $830 1 $1,749,000 $1,168 2/8/16 435 China Basin 619 2/2 1,236 $772 1 $1,490,000 $1,206 12/18/15 480 Mission Bay 809 2/2 1,261 $774 1 $1,425,354 $1,130 12/16/15 480 Mission Bay 614 1/1 928 $764 1 $1,000,000 $1,078 12/15/15 435 China Basin 439 3/2 1,542 $817 1 $1,775,000 $1,151 11/10/15 435 China Basin 427 2/2 1,069 $725 1 $1,310,000 $1,225 10/15/15 480 Mission Bay 818 2/2 1,372 $789 1 $1,583,000 $1,154 10/14/15 420 Mission Bay 406 1/1 945 $731 1 $1,010,000 $1,069 10/1/15 480 Mission Bay 517 1/2 + Den 1,047 $779 1 $1,045,000 $998 8/28/15 480 Mission Bay 713 1/2 1,047 $779 1 $1,189,000 $1,136 7/21/15

PG.38 SAN FRANCISCO RESIDENTIAL DEVELOPMENT APRIL 2016 CLICK TO RETURN TO THE NAVIGATION PAGE UPCOMING CONDOMINIUM DEVELOPMENTS

SALES DEVELOPMENT DEVELOPER AREA UNITS COMMENCE

The Pacific (main building) - 2155 Webster St Trumark Urban Pacific Heights 66 Q2 2016

Rowan - 346 Potrero Avenue at 16th Trumark Urban Potrero Hill 70 Q2 2016

3420 18th Street at San Carlos Deimon LLC Mission 16 Q2 2016

Shipley House - 236 - 238 Shipley Street at 5th V Shipley Street LLC South of Market 15 Q2 2016

580 Hayes Street at Laguna Village Properties Hayes Valley 29 Q2 2016

5800 Third Street - Phase II Holliday Development Bayview 136 Q2 2016

1450 Franklin Street at Bush Village Properties Western Addition 67 Q2 2016

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

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

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

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

1450 15th Street at Shotwell Denis McMahon Mission 23 Q4 2016

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

119 7th Street at Minna Fulton Street Ventures South of Market 39 Q2 2017

1731 Powell Street at Columbus Joel Campos North Beach 18 Q3 2017

ROWANTHETHE PACIFIC PACIFIC

HANDEL ARCHITECTS

ONE FRANKLIN FORUM DESIGN

PG.39 SAN FRANCISCO RESIDENTIAL DEVELOPMENT APRIL 2016 CLICK TO RETURN TO THE NAVIGATION PAGE UPCOMING APARTMENT DEVELOPMENTS

LEASING DEVELOPMENT DEVELOPER AREA UNITS COMMENCES The Civic - 101 Polk Street at Hayes Emerald Fund Mid-Market 162 LEASING

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

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

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

340 Fremont Street at Folsom Equity Residential South of Market 332 LEASING

1415 Mission Street at 10th Behringer Harvard South of Market 117 Q2 2016

1868 Van Ness Avenue at Sacramento N/A Van Ness Corridor 35 Q2 2016

480 Potrero Avenue at Mariposa SST Investments LLC Mission 84 Q2 2016

The Duboce - 2198 Market St at Sanchez Greystar Upper Market 87 Q2 2016

1601 Larkin Street at Clay John McInerney Nob Hill 27 Q2 2016

350 8th Street at Harrison AIG/Associated Estates South of Market 408 Q2 2016

1050 Valencia Street at Hill Valencia Hill LLC Mission 12 Q2 2016

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

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

Vela - 2353 Lombard Street at Scott Realty Equities Marina 21 Q2 2016

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

1 Henry Adams at Division Equity Residential Design District 241 Q3 2016

600 South Van Ness Avenue at 17th Toboni Group Mission 27 Q1 2017

570 Jessie Street at 6th LLC South of Market 47 Q1 2017

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

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

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

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

800 Indiana Street at 20th Avalon Bay/Build Inc. Dogpatch 326 Q3 2018

340 FREMONT

DAVID BAKER ARCHITECTS POTRERO 1010

HANDEL ARCHITECTS SOLOMON CORDWELL BUENZ

PG.40 SAN FRANCISCO RESIDENTIAL DEVELOPMENT APRIL 2016 CLICK TO RETURN TO THE NAVIGATION PAGE RESIDENTIAL PIPELINE SUMMARY

APPROVED, UNDER REVIEW AND CONCEPTUAL Area Approved Under Review Conceptual Bayview/Hunters Point/Candlestick Point 10,975 1,532 2,940 Dogpatch 2,243 496 0 Hayes Valley 0 414 24 Mid-Market 231 2,607 596 Mission 167 2,135 195 Mission Bay 170 1,642 0 Northern Neighborhoods* 123 1,457 138 Potrero Hill 400 1,089 278 South of Market 2,058 5,012 1,880 Southern Neighborhoods* 15 86 231 Tenderloin 574 554 0 Transbay 1,069 842 200 Treasure Island 8,619 0 0 Upper Market 24 236 0 Van Ness Corridor 0 1,706 0 Visitacion Valley 1,679 1,120 0 Western Neighborhoods* 9,007 649 750 Totals 37,354 21,577 7,232 Month-Over-Month Change +0.4% +0.2% -

UNDER CONSTRUCTION (BY PRODUCT TYPE) Pre-selling Area Condominiums Apartments All Types Condominiums Bayview/Hunters Point/Candlestick Point 145 0 0 145 Dogpatch 0 0 696 696 Hayes Valley 249 64 0 313 Mid-Market 0 0 0 0 Mission 0 39 96 135 Mission Bay 350 0 129 479 Northern Neighborhoods* 385 248 55 688 Potrero Hill 0 161 0 161 South of Market 279 15 2,071 2,365 Southern Neighborhoods* 0 0 0 0 Transbay 0 67 472 539 Upper Market 0 0 87 87 Van Ness Corridor 0 0 0 0 Totals 1,408 594 3,606 5,608 Month-Over-Month Change +32.6% -37.1% -23.2% -16.3%

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

PG.41 SAN FRANCISCO RESIDENTIAL DEVELOPMENT APRIL 2016 CLICK TO RETURN TO THE NAVIGATION PAGE PROJECTED AND HISTORICAL SUPPLY

PROJECTED AVAILABLE UNITS

3,000

2,500 2,496 1,971 2,000 2,055 1,397 1,324 1,500 1,294 1,193 1,000 1,342 315 500 918 492 0 125 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017

New Condominiums New Apartments

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

015 was a banner year for housing production, with over 4,400 units completed, 21,949 of which were affordable (44%). In contrast, 2014 saw the production of 3,896 units, of which 1,139 were affordable (29%). This constitutes at 13% year-over-year increase in housing production for the City.

HISTORICAL PRODUCTION

5,000 4,407 4,500 3,896 4,000 3,366 3,500 3,019 3,000 2,730 2,330 2,500 2,260 2,197 1,872 1,859 1,780 2,000 1,619 1,675 1,500 1,225 New Units Produced 1,082 909 906 909 1,000 794 532 500 348

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

* Figures include Below Market Rate units

PG.42 SAN FRANCISCO RESIDENTIAL DEVELOPMENT APRIL 2016 VANGUARD PROPERTIES LEADERS BY DESIGN

SAN FRANCISCO OFFICES 2501 Mission Street (Flagship) San Francisco, CA 94110 415.321.7000

199 New Montgomery Street (SOMA) San Francisco, CA 94105 415.321.5300

555 Castro Street (Castro) San Francisco, CA 94114 415.655.5600

1801 Fillmore Street (Lower Pac Heights) San Francisco, CA 94115 415.563.5900

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