A Condo "Steal" In S.F.; Will Prices Rise?
What's the cheapest condo of them all? Well it ain't the St. Regis residences, which just came in as the most expensive condo complex across S.F. The "most affordable" is The Beacon at Mission Bay, according to the newly released luxury modern condo building pricing guide for 2014. Here's a pic of a two-bedroom listed for $1.1M. The 595 condos, built in 2004, sit in two 16-story buildings next to AT&T Park. The report tracks almost 30 newer condo buildings and breaks down sales price by number of beds and also location in the building. The priciest, St. Regis, is followed closely by The Four Seasons residences and The Millennium Tower.
What does the future hold? We asked a top condo sales broker, who doesn't have his crystal ball working past 2016 yet (that's around when Jay Paul's mixed-use condo project at 181 Fremont could deliver, above). The broker offers a glimpse into 2018 conditions, when other projects like Tishman's newly proposed project could land in SoMa (we hear it's currently working out entitlements for the two high-rises). If the national and Bay Area economy stays strong, S.F. is so short on supply expect prices to keep moving up and product to be rapidly absorbed, he says.
