Thursday, July 26, 2007
One Rincon Hill Condos - Prices Rising
All the two bedroom units in the first tower are in escrow. Only units left are junior one bedrooms and a three bedroom unit. There will be some fall out - and there is a waiting list forming - though the project is a financial success. 2 bedroom units - if they come back on the market will be from $1.1M - $1.5M with decent views. This is a few hundred thousand more than when they were released. The second tower will be priced 15% higher due to demand and also higher construction costs. The fear of a glut of condos in San Francisco is unwarranted. Developments like this will spur demand and quality. Waiting list for the 2nd tower in early 2008.