What a fine day for market watching: San Francisco's high rise condo stock is faring pretty well these days with most of the new construction projects around the city on their way to full occupancy. Our shining beacons of condo living—One Rincon and the Infinity— are the best metrics by which we can measure the state of affairs; both debuted on the market in June of 2006, but the Infinity recently pulled ahead in sales, with an impressive closing rate of 50 units per month. One Rincon is closing at a rate of 40 units per month, while "enthusiastic" buyers at new kid on the block, Millennium Tower, will soon move toward contract. Sales success seems to depend on zip code: The Infinity, One Rincon, and Millennium Towers are all in or near SoMa — a hot spot for both commercial and residential real estate. In Bayview however, things aren't quite so great, with some condos showing very, very (very) slow sales and others making the hard decision to halt construction completely. Of course, the tables will begin to turn once Gave & Lennar do their thing— Exciting times for SF development, def.
· S.F. condominium sales strong in recent months [SF Gate]
Join us for Architecture Watch, wherein Curbed SF steps out into the blue yonder, collecting the best, worst, and wonkiest of projects. Nominate!
Vertical farms are by no means a new idea— enviro-friendly urbanites have been dreaming of high-rise farms for as long as there have been high-rise buildings. But with current interests in both sustainability, urban living, and local farming, the topic of-the-moment once more. The New York Times takes a look at several such concepts, which seem perfectly suited for the foodie urbanites of San Francisco: Instead of buying eggs fresh from Sonoma, why not buy eggs fresh from Sansome Street? Besides the costs of building such a structure—estimates range from $20 Million to hundreds of millions— businesses might prove a challenge, as developers are going to be hard pressed to lease precious city space to poor Farmer Brown over Rich Businessman Brown. As with most things beautiful and idealistic, there are still a few kinks to work out. So for now, it looks like urban farmers are stuck with rooftops, window boxes, and Victory Gardens.
· Country, the City Version: Farms in the Sky Gain New Interest [New York Times]
· Willie Brown Not Down With Slow Food Nation [Curbed SF]
You've come a long way, 555 Mission. It seems like you topped off only yesterday, besting the Millennium in the race to glass. And now this, another monumental event in your young life: you've leased your entire top floor to Sequoia Capital— for a hell load. We couldn't be prouder. [SF Business Times]
PriceSpotter is Curbed's asking price guessing game. We provide you with some details and pictures from an apartment listing, and you take a crack at the price in the comments. Wednesday. And hey, cheaters never win, and winners never cheat!
This week's PriceSpotter is 501 Beale Street #PH1E, a high rise penthouse at the corner of Beale and Bryant.
· 3 bedrooms, 2 bathrooms
· Square footage: unlisted
· 11 foot-high ceilings, Wrap-around windows, panoramic view of the Bay
· Blinged-out kitchen and bathroom fixtures
· Gym, custom lap pool and hot tub on building's roof
As always, guesses, gripes, and gauges should be filed in the comments for review by the tactical experts on the PriceSpotting Strike Force.
Although the race was really over a few weeks ago, today is the day that 555 Mission Street will take home the medal for 30-plus story glass sprint. In the background, The Millennium stands dejectedly on the lower podium while 555's anthem, the Mission Impossible theme, plays throughout the city. When asked what he'll do now, 555 responded, "Now It's time for the race to occupancy!"
Will increasing the density of San Francisco really help the environment? Meh, maybe — but it helps make a nice argument for building higher. Is the Transbay Terminal Towera "blandly derivative dildo"? Sure, that one's hilariously arguable. But the real problem here— the big, serious issue that will effect the quality of life for the entire metropolitan area is ... the shadows cast by these still-hypothetical buildings. Shadows, really? For the most part, downtown San Francisco (Fidi, SoMa, what have you) is still a place where people work, not where people live. So let's be honest, quality of life is never really going to be perfect. It seems like popular opinion is trending towards height, but—gasp!—if SoMa towers climb up to 1000 feet, they may cast shadows over Justin Herman Plaza during part of the day (part of the day!) and possibly (possibly!) Portsmouth Square! "But," you ask, "what about 1984's Proposition K, which states that new buildings cannot cast shadows onto public parks?" Ignore that, we say, because the city can — and will at their own discretion. And hey — does JHP really count as a park anyway? Plus, as the world caves beneath the weight of global warming, we'll all be begging for more shadows, anyway.
· Growing up [SF Bay Guardian]
· Opinion Watch: Transbay Terminal Plan [Curbed SF]
The Millennium Tower is taking shape in SoMa, as glass consumes concrete day by day. Perhaps most notably, the crown of the tower is now framed up, giving a better idea of how this beast will alter the skyline. Not exactly a grand gesture, eh?
· First Glimpse: Millennium Top Off Party [Curbed SF]
· Mystery Money Down on Millennium Penthouse [Curbed SF]
SOMA—"Has SoMa Grand lost its game?" we wondered yesterday, following a reader query that indicated some possible trouble: "Later I looked up the address, and found a number of units already are being sold by their owners. The elevators still have plywood on the inside to protect against the construction crews! What's going on? Buyer's remorse?" Not so! says the SoMa Grand's people. The official word: One of three on-site elevators are paneled with plywood in order to protect them as residents move in gradually. The MLS listings aren't resales, nor are there any units up for re-sale at the moment. In fact, interest in the building is strong, according to the developer. So there, rumormongers. [CurbedWire Inbox]
What's the haps at SoMa Grand? Something? Nothing at all? A suspicious reader dropped the following WTF? in the inbox:
I was in a unit on the 23 floor today on the new highrise there, and the view was a stunner. Later I looked up the address, and found a number of units already are being sold by their owners. The elevators still have plywood on the inside to protect against the construction crews! What's going on? Buyer's remorse? Place is worth a one-night stand but not a relationship? Price bump and folks looking to make a buck? Just curious.
The "race to glass" isn't much of a race anymore now, is it? This game is over. Winner: 555 Mission Street; the SoMa skyscraper has taken commanding lead over nearest competitor the Millennium. (Though we'll hold off anymore celebratory remarks until its official, just in case.) Hey Mills, consolation prize: at least you had the best top-off party.
· Race to Glass: 555 Mission Street vs. The Millennium [Curbed SF]
· First Glimpse: Millennium Top Off Party [Curbed SF]
About Curbed SF
From the Golden Gate to The Mission, in San Francisco, it all comes back to our neighborhoods: where we live, where we work, where we eat, and where we play. Covering real estate sales, rental prices, and news-making deals and much more, it's all on Curbed SF. More about Curbed SF...