The Mark Company Monthly Reports San Francisco

Transcription

1 The Mark Company Monthly Reports San Francisco June 2014

2 Contents New Construction Pipeline Summary Disclaimer Notes 1) New Construction developments are either actively selling for the first time or a rental development that has been converted to for sale and is now actively selling. Most recent closings include the last 10 reported closings that have price and square footage included. 2) developments have completed their original sales process and are now being tracked for resales. Most recent closings include the last 10 reported closings that have price and square footage included. The list may include both new and resale closings as noted. 3) This report covers new construction developments with 20+ market rate units and selected sold out developments with 50+ market rate units located in Districts 7, 8 and 9. 4) Assume that developments in the New Construction section are actively selling units unless noted otherwise. In addition, list prices and number of units available are based on the month of the report and closings are based on what has been recorded to date. Please note that closings can take days to be recorded. 5) On Market refers to the date the Sales Center opened. 6) Average Absorption is calculated from On Market through the date of the report. It accounts for units both in contract and closed. 7) Average Price/SF is calculated using only units where both square footage and price are known. Average Price/SF is defined as the average price divided by the average square footage. Averages are weighted averages. 8) Developments are considered once the last Market Rate unit has closed OR there have been three months without a closing, all units are in contract and the Sales Center is closed (e.g. there is no active marketing). 9) Below Market Rate units are omitted from new construction and resale closings whenever possible.

3 New Construction The following section contains sales information and updates for actively selling developments with 20+ Market Rate units. Project List* 1645 Pacific 8 Octavia Amero Arden Blanc Fifteen Fifteen Linea Marlow Millwheel North Mint Collection Onyx Park Lane The Century The San Francisco Shipyard Vida * Sorted in alphabetical order

4 New Construction 1645 Pacific Avenue 39 June 2014 TBD s Nick Podell Company; Grosvenor Americas $475 - $625/month Average Absorption TBD Projected Price/SF TBD 1645 Pacific 1645 Pacific offers 39 boutique residences at the convergence of Nob Hill, Russian Hill and Pacific Heights. The homes average approximately 1,250 square feet in size and feature City and Bay views from select residences. There are three ground-floor retail spaces. The building is expected to be completed in summer Sales Status 0 closed 0 in contract 39 available Available list prices dated June 2014: One Bedroom Starting List Price: $735,000 Average Size: 642 SF Starting List Price/SF: $1,145 Two Bedroom Starting List Price: $1,395,000 Average Size: 1,257 SF Starting List Price/SF: $1,110

5 New Construction 8 Octavia Boulevard 47 (40 Market Rate) June 2014 TBD s DM Development: DDG $580 - $840/month Average Absorption TBD Projected Price/SF TBD 8 Octavia Designed by award-winning architect, Stanley Saitowitz, 8 Octavia will offer 47 modern residences over retail space in Hayes Valley. The one-, two- and three-bedroom homes feature flexible living spaces and designer finishes. The penthouse homes include private outdoor terraces, twolevel townhome plans and technology-enabled concierge services and access systems. There are 24 parking spaces available. Sales Status 0 closed 0 in contract 40 available

6 New Construction 1501 Filbert Street 27 June 2014 TBD Trumark Urban TBD Average Absorption TBD Projected Price/SF TBD Amero Amero will offer modern new homes in San Francisco s highly-desirable Cow Hollow neighborhood. Situated near fine restaurants, high-end shopping and public transportation, these efficiently-designed flats and townhomes will deliver the perfect blend of sleek and function. Residents will enjoy access to breathtaking ocean and City views from the rooftop terrace. Sales Status 0 closed 0 in contract 27 available

7 New Construction 718 Long Bridge Street 267 June 2014 TBD Bosa Development Corporation $780 -$965/month Average Absorption 100 units/month Projected Price/SF TBD Arden Arden will offer 267 sophisticated residences ideally situated along Mission Creek. The modern homes will feature walkable access to the highly-liveable urban neighborhood of Mission Bay. Sales Status 0 closed 100+ in contract <167 available Interior finishes include hardwood and carpet flooring, CaesarStone countertops, Thermador appliances, full-size Whirlpool washer and dryers and walk in closets in most residences. Residents will enjoy attended lobbies in both buildings, a fireside lounge, fitness center, outdoor wood deck with City views, social lounge, pet wash, resident workshop and more. One bedrooms are priced from the mid $700,000s. Two bedrooms are priced from the high $900,000s. Three bedrooms are priced from the mid $1,000,000s.

8 New Construction 1080 Sutter Street 35 June 2013 January 2014 JS Sullivan Development $500 - $750/month Average Absorption 6 units/month $815 (28 units) Blanc (All Units In Contract) Blanc offers 35 luxury condominium homes in Nob Hill. The two- and three-bedroom residences feature hardwood floors, Silestone quartz countertops, Bosch stainless steel appliances, Sozo custom cabinetry and walk-in closets. Residents will enjoy a rooftop terrace with grilling and entertainment spaces, as well as gated parking and bicycle storage. All units are in contract at Blanc. The project will be moved to the section once all units have closed or three months have passed without a closing reported. Sales Status 28 closed 7 in contract 0 available Unit Type SF Closing Price $/SF /3 2,065 $1,800,000 $872 3/14/ /2 1,255 $1,075,000 $857 2/27/ /2 1,280 $910,000 $711 2/14/ /2 1,275 $1,275,000 $1,000 2/7/ /1 753 $689,000 $915 1/31/ /2 1,220 $975,000 $799 1/31/ /1 753 $659,000 $875 1/31/ /2 1,275 $1,476,000 $1,158 1/31/ /1 753 $669,000 $888 1/24/ /1 753 $649,000 $862 1/22/2014 Averages: 1,185 $1,053,400 $889

9 New Construction th Street 45 June 2014 TBD JS Sullivan Development $380 -$500/month Average Absorption TBD Projected Price/SF TBD Fifteen Fifteen Fifteen Fifteen offers clean lines and modern design in the heart of the walkable Mission District. Designed by Stanley Saitowitz, the five-story building includes a rooftop terrace and optional parking and storage for residents. The homes are available in studio, one- and two-bedroom floor plans. Sales Status 0 closed 0 in contract 45 available Interiors feature natural hardwood flooring, generous 9 ceilings, Bertazzoni and Bosch appliances and central air conditioning. Available list prices dated June 2014: One Bedroom Starting List Price: $399,000 Average Size: 383 SF Starting List Price/SF: $1,042 Two Bedroom Starting List Price: $899,000 Average Size: 968 SF Starting List Price/SF: $929

10 New Construction 1998 Market Street 115 August 2013 January 2014 s Brian Spiers & Chris Foley $450 - $650/month Average Absorption 12 units/month $1,063 (37 units) Linea Designed by world-renowned Bernardo Fort-Brescia of Arquitectonica, Linea offers 115 stylish residences at Market and Buchanan Streets. The homes feature professional-grade kitchens with high-end appliances, polished quartz countertops and stone backsplashes. Amenities include an attended lobby, interior courtyard and outdoor terrace. Available list prices dated June 2014: One Bedroom Starting List Price: $735,000 Average Size: 616 SF Starting List Price/SF: $1,193 Two Bedroom Starting List Price: $823,000 Average Size: 789 SF Starting List Price/SF: $1,043 Sales Status 37 closed 69 in contract 9 available Unit Type SF Closing Price $/SF 414 2/1 1,102 $1,200,000 $1,089 5/24/ /2 1,104 $1,399,861 $1,268 5/2/ /2 971 $1,208,355 $1,244 4/25/ /2 1,225 $1,200,000 $980 4/18/ /2 1,150 $1,316,000 $1,144 4/18/ /2 1,098 $1,099,000 $1,001 4/16/ /1 633 $617,939 $976 4/9/ /2 920 $999,000 $1,086 3/31/ /1 643 $644,000 $1,002 3/20/ /2 963 $1,016,000 $1,055 3/17/2014 Averages: 973 $1,055,628 $1,085

11 New Construction 1800 Van Ness Avenue, 1754 Clay Street 98 March 2013 March 2014 Oyster Development $552 - $656/month Average Absorption 8 units/month $1,072 (43 units) Marlow (All Units In Contract) Marlow is situated where the Pacific Heights, Nob Hill and Russian Hill neighborhoods come together. The one-, twoand three-bedroom homes are available in flat and townhome configurations. Homes features natural walnut finished cabinetry, quartz countertops, porcelain backsplashes and tiling, air conditioning and balconies. Residents will have access to secured parking, an attended lobby and landscaped courtyard. All units are in contract at Marlow. The project will be moved to the section once all units have closed or three months have passed without a closing reported. Sales Status 43 closed 61 in contract 0 available Unit Type SF Closing Price $/SF 504 2/2 975 $1,127,000 $1,156 5/22/ /2 995 $1,072,000 $1,077 5/20/ /2 916 $1,0400,00 $1,135 5/15/ /2 1,295 $1,510,000 $1,166 5/5/ /2 990 $1,046,000 $1,057 4/25/ /2 954 $1,004,000 $1,052 4/22/ /2 1,120 $1,226,000 $1,095 4/7/ /2 1,041 $1,182,000 $1,135 3/25/ /2 1,003 $1,130,000 $1,127 3/21/ /1 814 $799,000 $1,119 3/18/ /2 990 $1,072,000 $1,083 2/11/ /2 975 $975,000 $1,000 2/11/2014 Averages: 1,000 $1,113,600 $1,113

12 New Construction 1800 Van Ness Avenue, 1754 Clay Street 21 April 2014 April 2014 Martin Building Company $355+/month Average Absorption 3 units/month $1,028 (5 units) Mint Collection The Mint Collection originally began selling in early 2007 before leasing units due to market conditions. Select units in the Hales Warehouse and Sliver Building are now being released for sale. The available homes range between 433 and 3,300 square feet in size. The residences feature 11 6 and ceilings, expansive windows, granite and concrete countertops and acid-stained concrete floors. Community amenities include an enclosed parking garage with secure access, 24-hour security and a rooftop deck with fitness center, custom spa, Viking grilling area and sun deck. Available list prices dated June 2014: Studio Starting List Price: $535,000 Average Size: 494 SF Starting List Price/SF: $1,083 Sales Status 5 closed 3 in contract 13 available Unit Type SF Closing Price $/SF 904 1/1 1,092 $1,200,000 $1,099 5/22/ /2 2,018 $2,150,000 $1,065 5/8/ /1 1,092 $1,050,000 $962 5/6/ /1 996 $1,072,000 $1,076 5/2/ /1 1,242 $1,150,000 $926 4/30/2014 Averages: 1,288 $1,324,400 $1,028 One Bedroom Starting List Price: $975,000 Average Size: 996 SF Starting List Price/SF: $979

13 New Construction th Street 20 March 2014 May 2014 s LNF Partners; Peter & Elizabeth Meier $350 - $445/month Average Absorption 5 units/month $1,145 (10 units) Onyx Phase I Onyx is located in San Francisco s eclectic and sunny Potrero Hill neighborhood. The stylish homes are available in one-, two- and two-bedroom plus den floor plans and include modern finishes. Residents enjoy a full array of exciting dining, retail and cultural options. The Potrero Hill location also affords easy access to other exciting neighborhoods like South of Market, the Mission and the Dogpatch. Sales Status 10 closed 9 in contract 1 available Unit Type SF Closing Price $/SF 207 2/2 1,273 $1,350,000 $1,060 5/28/ /2.5 1,319 $1,600,000 $1,213 5/23/ /2.5 1,240 $1,350,000 $1,089 5/20/ /1 730 $789,000 $1,081 5/15/ /1 912 $1,010,000 $1,107 5/15/ /2.5 1,274 $1,635,000 $1,283 5/15/ /1 912 $930,000 $1,020 5/14/ /2.5 1,273 $1,425,000 $1,119 5/13/ /1 889 $ $1,063 5/13/ /2 1,317 $1,725,000 $1,310 5/13/2014 Averages: 1,114 $1,275,900 $1,145

14 New Construction 1100 Sacramento Street 33 October 2013 December 2013 Russell Flynn $860 - $4,400/month Average Absorption 2 units/month $1,415 (11 units) Park Lane (On Hold) Located in Nob Hill, Park Lane offers 33 ultra-luxury residences in two-, three and four-bedroom floor plan configurations. Finishes include rich 6 plank wood flooring, stainless steel Thermador appliances, marble backsplashes and quartz countertops. Park Lane is a converted TIC building. Park Lane was put on hold in May 2014 due to waiting for leased units to become available. Sales Status 11 closed 1 in contract 21 available Unit Type SF Closing Price $/SF 208 3/3.5 2,537 $3,200,000 $1,261 4/25/ /3 2,265 $2,225,000 $982 4/18/ /3.5 2,825 $3,700,000 $1,310 3/27/ /3 2,148 $2,500,000 $1,164 2/28/ /3.5 2,389 $2,565,000 $1,074 1/28/ /1 907 $1,595,000 $1,759 1/10/ /3 3,398 $6,995,000 $2,059 1/8/ /2.5 2,055 $1,995,000 $971 1/8/ /5 4,449 $7,000,000 $1,573 12/20/ /3 2,721 $3,800,000 $1,397 12/20/2013 Averages: 2,569 $3,557,500 $1,385

15 New Construction 2200 Market Street 22 January 2014 February 2014 Leticia Luna $430 - $490/month Average Absorption 7 units/month $1,134 (16 units) The Century (All Units In Contract) The Century offers a mix of one- and two-bedroom condominium homes in the Duboce Triangle neighborhood. The location affords easy commute access via Muni, BART and freeways. Most homes features glass walls, private outdoor space and views. Finishes include custom cabinetry, quartz countertops, Bertazzoni gas ranges and Bosch dishwashers and microwave ovens. All units are in contract at The Century. The project will be moved to the section once all units have closed or three months have passed without a closing reported. Sales Status 16 closed 6 in contract 0 available Unit Type SF Closing Price $/SF 202 1/ $829,000 $979 4/9/ /2 1,059 $1,150,000 $1086 4/7/ /2 1,120 $1,200,000 $1071 4/7/ / $949,000 $1207 3/31/ / $895,000 $1087 3/26/ /2 1,120 $1,240,000 $1,107 3/21/ /2 1,181 $1,355,000 $1,147 3/18/ / $870,000 $1,027 3/18/ /2 1,059 $1,249,000 $1,179 3/13/ /2 854 $959,000 $1,123 3/6/2014 Averages: 970 $1,069,600 $1,150

16 New Construction Sales Center es 645 Howard Street 11 Innes Court 88 (Phase 1) June 2014 TBD Lennar Urban $250 -$505/month Average Absorption TBD Projected Price/SF TBD The San Francisco Shipyard Located near the water with panoramic views of the Bay and downtown skyline, The San Francisco Shipyard recently launched its first phase of 88 homes in the Olympia and Merchant buildings. Sales Status 0 closed 0 in contract 88 available Comprised of contemporary townhomes and condominiums, this extraordinary development will feature top of the line interior finishes, private outdoor space and one-to-one parking. Residents will have access to more than 300 acres of manicured parks and open space as well as easy access to downtown via new public transportation options. Available homes are priced from the low $400,000s to mid $800,000s.

17 New Construction 2558 Mission Street 114 March 2014 TBD Oyster Development $430 - $620/month Average Absorption 9 units/month Projected Price/SF $1,100 Vida Located in the energetic Mission District, Vida offers 114 condominium homes inspired by modern Latin culture. The homes are available in one- and two-bedroom configurations. Finishes include exposed concrete ceilings, expansive views, Bosch and Bertazzoni appliances and high-end cabinetry and countertops. Sales Status 0 closed 35 in contract 79 available Residents will have access to a landscaped rooftop deck on the seventh floor and various lounge areas. As the tallest building on the block, Vida will offer spectacular views of Bernal Heights, Downtown and Twin Peaks. Available list prices dated June 2014: Junior One Bedroom Starting List Price: $594,000 Average Size: 507 SF Starting List Price/SF: $1,172 One Bedroom Starting List Price: $733,000 Average Size: 680 SF Starting List Price/SF: $1,079 Two Bedroom Starting List Price: $1,111,000 Average Size: 1,024 SF Starting List Price/SF: $1,085

18 The following section contains selected sold out developments located in Districts 7, 8 and 9. South of Market Blu Millennium Tower One Hawthorne One Rincon Hill Soma Grand The Brannan The Infinity The Metropolitan The Palms Watermark Mission Bay 170 Off Third 235 Berry 255 Berry Arterra Madrone Park Terrace Radiance at Mission Bay Potrero Hill & Dogpatch Homes on Esprit Park The Potrero Hayes Valley 300 Ivy The Hayes

19 631 Folsom Street 114 May 2008 May 2009 Malcolm Properties; Lennar Urban $ /month 2013 $1,008 (2 units) Blu Blu is a 21-story condominium tower located in the South of Market neighborhood. Designed by Handel Architects, the development features 114 residences and is approximately 214 feet high. The condominium homes range in size from 950 square feet for a two-bedroom to 2,700 square feet for a penthouse. Penthouses boast private roof decks and glass-walled solariums. Interior finishes feature European cabinetry, hardwood and carpet flooring, Bosch and Viking kitchen appliances and granite countertops. Amenities include a full-time doorman, concierge services, lobby and carousel parking for all residents. Unit Type SF Closing Price $/SF Type 18E 2/2 906 $990,000 $1,093 1/23/2014 Resale 7B 2/2 1,054 $985,000 $935 1/10/2014 Resale 20B 2/2 1,054 $1,150,000 $1,091 10/18/2013 Resale 2F 2/2 1,200 $1,200,000 $1,000 7/16/2013 Resale 6B 2/2 1,054 $889,000 $843 6/28/2013 Resale 16E 2/2 906 $940,000 $1,038 6/14/2013 Resale 16B 2/2 1,054 $1,076,314 $1,021 5/31/2013 Resale 4A 2/2 1,136 $1,035,000 $911 4/15/2013 Resale 4D 2/2 1,230 $999,000 $812 3/20/2013 Resale 8C 2/2 1,054 $849,000 $806 2/21/2013 Resale Averages: 1,065 $1,011,331 $950

20 301 Mission Street 419 November 2007 April 2009 Millennium Partners $774 - $1,750/month 2013 $1,492 (11 units) Millennium Tower Millennium Tower is located in the heart of San Francisco s South of Market District. Residents are steps away from The Embarcadero, Ferry Building, Chinatown, SFMoMA, Yerba Buena Gardens and Union Square. The project consists of three collections of residences: The City Residences, The Residences and The Grand Residences. Each collection has its own elevator, lobby, homeowners association and selection of finishes. Amenities include an outdoor garden, pool and spa, fitness center run by Sports Club/LA, private lounge with dining area and ground-level retail space. Interior finishes feature hardwood or Berber carpet flooring, Studio Becker cabinetry, marble or brown quartzite countertops and kitchen appliances by Sub-Zero, Wolfe, Miele, GE, Bosch and U-Line. Unit Type SF Closing Price $/SF Type 401 4/4 3,814 $5,300,000 $1,390 5/30/2014 Resale 10C 2/2.5 1,583 $1,950,000 $1,232 4/30/2014 Resale 6J 2/2 1,245 $1,575,000 $1,265 4/21/2014 Resale 45F 2/2 1,509 $2,395,000 $1,587 4/15/2014 Resale 49C 3/3.5 2,819 $5,250,000 $1,862 4/2/2014 Resale 55D 2/3 2,230 $4,650,000 $2,085 3/12/2014 Resale /2 1,424 $1,650,000 $1,159 1/7/2014 Resale 14J 2/2 1,245 $1,550,000 $1,245 1/3/2014 Resale 34F 2/2 1,601 $2,075,000 $1,296 1/3/2014 Resale 302 1/2 1,816 $2,385,000 $1,313 12/24/2013 Resale Averages: 1,929 $2,878,000 $1,492

21 One Hawthorne Street 165 January 2010 July 2010 Jackson Pacific Ventures, LLC ~$500 - $720/month 2013 $1,192 (4 units) One Hawthorne A beautiful addition to the vibrant South of Market neighborhood, One Hawthorne is a boutique collection of luxury condominium residences. The central location provides homeowners with easy access to a range of cultural activities, restaurants, shopping, parks and transportation options. The 25-story building represents smart sophisticated living at its best and is a rare residential opportunity in a dynamic and desirable neighborhood. The generous array of amenities includes an attended lobby, fitness center and furnished rooftop deck with barbeque, dining and lounge facilities. Unit Type SF Closing Price $/SF Type 23G 1/1 951 $1,125,000 $1,183 4/11/2014 Resale 19G 1/1 950 $1,087,000 $1,144 2/5/2014 Resale 5F 1/1 504 $600,000 $1,190 12/20/2013 Resale 23A 2/2 1,558 $1,910,000 $1,226 12/16/2013 Resale 14C 2/2 1,313 $1,350,000 $1,028 10/11/2013 Resale 11G 1/1 915 $990,000 $1,082 8/13/2013 Resale 8D 1/1 849 $840,000 $989 7/31/2013 Resale 20F 2/2 1,381 $1,530,000 $1,108 1/18/2013 Resale 10G 1/1 915 $760,000 $831 12/28/2013 Resale 4B 0/1 524 $475,000 $906 12/28/2012 Resale Averages: 986 $1,066,700 $1,082

22 425 First Street 390 June 2006 February 2008 Urban West Associates $675 - $1,000/month 2013 $1,176 (17 units) One Rincon Hill At over 50-stories tall, One Rincon Hill is one of the tallest residential developments west of the Mississippi River. The project includes one-, two- and three-bedroom homes. Many of the homes have expansive views of downtown and the water. The homes feature hardwood flooring, Italian cabinetry from Del Tongo, Sub-Zero refrigerators, Bosch stainless steel appliances and in-home laundry facilities. Amenities include a 24-hour doorman, concierge, high-speed Internet access, fitness center, hospitality room with catering kitchen, valet parking, full-size swimming pool and outdoor barbeque area with a fireplace. The Phase II tower consists of 299 rental units and began construction in July Construction is expected to be completed in summer Unit Type SF Closing Price $/SF Type /2 1,278 $1,245,000 $974 5/23/2014 Resale /2 1,526 $2,170,000 $1,422 5/20/2014 Resale /2 1,238 $1,450,000 $1,171 4/6/2014 Resale /1 755 $920,000 $1,219 4/3/2014 Resale /1 710 $815,000 $1,148 4/1/2014 Resale /1 819 $1,098,000 $1,341 3/11/2014 Resale /2 1,238 $1,288,000 $1,040 3/7/2014 Resale /1 819 $1,050,000 $1,282 3/6/2014 Resale /1 837 $970,000 $1,159 3/4/2014 Resale /2 1,238 $1,380,000 $1,115 2/20/2014 Resale Averages: 1,046 $1,238,600 $1,184

23 1160 Mission Street 246 March 2007 November 2008 s AGI Capital Partners; TMG Partners $550 - $650/month 2010 $897 (9 units) SOMA Grand Located in San Francisco s vibrant South of Market neighborhood, SOMA Grand is near numerous dining and retail options, as well as Union Square, the SF MoMA, San Francisco Symphony, City Hall and the San Francisco Opera. Homes are available in junior one-, one-, one-plus, two- and three-bedroom floor plans and range in size from 618 to 1,523 square feet. The building features a landscaped Park Level, state-of-the-art fitness center, onsite carshare, full concierge service and valet parking. Unit Type SF Closing Price $/SF Type 510 1/1 755 $880,000 $1,166 4/17/2014 Resale /2 1,043 $920,000 $882 3/7/2014 Resale /2 1,146 $1,175,000 $1,025 1/27/2014 Resale /1 765 $612,500 $801 1/23/2014 Resale /2 1,131 $905,000 $800 1/7/2014 Resale /1 764 $608,000 $796 12/24/2013 Resale /2 1,043 $900,000 $863 12/17/2013 Resale 706 2/2 1,146 $1,060,000 $926 12/4/2013 Resale /1 818 $660,000 $807 12/3/2013 Resale /2 1,031 $895,000 $868 10/30/2013 Resale Averages: 964 $861,550 $894

24 219, 229, 239 Brannan Street July 2000 Reliance Development Group $850 - $1,050/month 2003 $1,217 (8 units) The Brannan Consisting of three towers, The Brannan offers one-, twoand three-bedroom floorplans and an array of amenities that include an attended lobby in each building, concierge services, an outdoor pool with cabanas and grilling facilities and fitness center. Its inspiring design, carefully chosen amenities, spacious homes and incredible views have established the building as one of the premier residences in the entire Bay Area. The style of internationally acclaimed interior designer Christian Liaigre creates a superb combination of luxury and sophistication. Unit Type SF Closing Price $/SF Type 18A 3/2 1,611 $2,500,000 $1,552 4/22/2014 Resale 3K 3/2 1,615 $1,560,000 $966 4/21/2014 Resale 2B 1/ $820,000 $981 4/9/2014 Resale 6C 1/ $929,000 $1,033 3/6/2014 Resale 12A 1/ $995,000 $1,231 2/28/2014 Resale 16D 2/ $2,100,000 $1,559 2/3/2014 Resale 11K 2/2 1,227 $1,450,000 $1,182 12/6/2013 Resale 11C 2/2 1,321 $1,410,000 $1,067 12/4/2013 Resale 8G 2/2 1,516 $1,555,000 $1,026 11/27/2013 Resale 2J 1/ $645,000 $771 11/26/2013 Resale Averages: 1,202 $1,396,400 $1,162

25 318 & 338 Spear Street; 301 & 333 Main Street 650 June 2006 February 2008 Tishman Speyer Properties ~$700/month 2011 $1,191 (17 units) The Infinity Located on Folsom Street between Spear and Main, The Infinity is a landmark of contemporary design in San Francisco. The Infinity was designed by renowned architect Bernardo Fort-Brescia of Arquitectonica in collaboration with Heller Manus Architects of San Francisco. The ultimate modern urban community features two towers rising 37 and 42 stories and two podium buildings of eight and nine stories. The Infinity is distinguished by a sleek exterior design with expansive, undulating curved glass walls that rise into the sky, affording each homeowner with their very own panoramic San Francisco bay window. Amenities include a swimming pool, fitness center, club lounge with a catering kitchen, landscaped courtyard, 24-hour attended lobby, private theatre, concierge and business center. Most of the homes feature expansive City and Bay views. Unit Type SF Closing Price $/SF Type 7G 1/1 827 $879,000 $1,063 5/30/2014 Resale 4G 1/1 645 $725,000 $1,124 5/23/2014 Resale 4H 1/1 846 $921,000 $1,089 5/23/2014 Resale 32C 3/ $2,925,000 $1,673 5/16/2014 Resale 5M 2/1 833 $956,000 $1,148 5/2/2014 Resale 4G 1/1 833 $895,000 $1,074 4/30/2014 Resale 12C 1/1 806 $940,000 $1,166 4/17/2014 Resale 20B 2/2 1,317 $1,975,000 $1,500 4/4/2014 Resale 8C 2/2.5 1,752 $1,750,000 $999 3/25/2014 Resale 7J 1/1 1,025 $1,130,000 $1,102 3/17/2014 Resale Averages: 1,063 $1,309,600 $1,232

26 333 & 355 First Street 342 October 2003 May 2004 Crescent Heights $550 - $650/month 2005 $1,159 (16 units) The Metropolitan Located in Rincon Hill, The Metropolitan consists of two towers of luxury condominiums. Amenities include a concierge, indoor pool and spa, fitness center, library, recreation room and business center. Unit Type SF Closing Price $/SF Type /2 958 $1,175,000 $1,227 5/30/2014 Resale /1 713 $780,000 $1,094 5/28/2014 Resale / $1,450,000 $1,165 5/7/2014 Resale /2 983 $1,200,000 $1,221 4/18/2014 Resale /1 713 $807,000 $1,132 4/17/2014 Resale /1 691 $820,000 $1,187 4/16/2014 Resale / $1,405,000 $1,205 4/8/2014 Resale 603 1/1 566 $648,000 $1,145 4/8/2014 Resale /2 1,166 $1,370,000 $1,175 3/28/2014 Resale /1 795 $850,000 $1,069 3/19/2014 Resale Averages: 900 $1,050,500 $1,168

27 555 Fourth Street 300 November 2005 August 2006 Cassidy Construction ~$500/month 2008 $921 (13 units) The Palms Located on the corner of Brannan & Fourth Streets, The Palms offers easy access to some of San Francisco s finest restaurants, shopping, art galleries, entertainment options and public transportation. Amenities include a concierge, doorman, business center, fitness center, 20-seat theatre, garage parking and private Palms Park. The homes features dramatic City, downtown and Bay Bridge views, balconies, stainless steel Bosch appliances and walnut hardwood flooring. Floor plans are available in junior one-, one-, two- and three-bedroom configurations. Unit Type SF Closing Price $/SF Type 714 1/1 682 $650,000 $960 5/23/2014 Resale 626 2/ $970,000 $820 5/16/2014 Resale 708 0/1 576 $565,000 $981 5/1/2014 Resale 911 1/1 563 $750,000 $1,332 5/1/2014 Resale 845 2/2 1,100 $945,000 $859 3/12/2014 Resale 422 1/1 756 $710,000 $939 3/7/2014 Resale 825 1/1 600 $650,000 $1,083 2/4/2014 Resale 927 1/1 699 $627,500 $898 1/29/2014 Resale 906 1/1 681 $625,000 $918 1/16/2014 Resale 312 1/1 694 $569,000 $820 1/10/2014 Resale Averages: 753 $706,650 $938

28 501 Beale Street 136 (120 Market Rate) September 2005 April 2006 Lend Lease $729/month 2006 $1,085 (6 units) Watermark Watermark is comprised of 136 well-appointed one-, twoand three-bedroom residences. Homes feature floor-toceiling views of the City and Bay. Premium finishes include fixtures by Cifial, Hansgrohe, Duravit and Kohler, as well as Bosch and Sub-Zero appliances. All homes include honed black granite kitchen countertops, operable windows, 9-foot ceilings and central air. Amenities include an attended lobby, secure parking, stateof-the-art fitness center featuring Pilates equipment and weight machines, a heated outdoor pool and spa and lushly landscaped common deck with a Thermador gas barbeque grill and dramatic water and Bay Bridge views. Unit Type SF Closing Price $/SF Type 15G 2/2 1,037 $1,185,000 $1,143 4/3/2014 Resale 14E 1/1 759 $730,000 $962 2/24/2014 Resale 15A 2/2.5 1,469 $1,850,000 $1,259 2/4/2014 Resale 6B 2/2 1,019 $1,060,000 $1,040 1/9/2014 Resale 1D 1/1 831 $690,000 $830 12/12/2013 Resale 8A 2/2 1,160 $1,296,000 $1,117 12/4/2013 Resale 20D 2/2 1,259 $1,570,000 $1,247 11/27/2013 Resale 5B 2/2 1,073 $1,010,000 $941 5/24/2013 Resale PH1C 3/2.5 2,055 $2,850,000 $1,387 5/2/2013 Resale 11D 2/2 1,259 $1,250,000 $993 5/1/2013 Resale Averages: 1,192 $1,349,100 $1,132

29 177 King Street 198 (174 Market Rate) February 2007 June 2007 Security Properties $580/month 2009 $1,034 (5 units) 170 Off Third Located in South Beach, 170 Off Third is close to shopping, dining and an ever-expanding list of entertainment options, including AT&T Park, The Embarcadero and Ferry Building. Homes feature panoramic city and bay views, built-in computer workstations, granite countertops, stainless steel KitchenAid appliances and secure parking. Building amenities include a two-story Club Room, fitness center and landscaped courtyard with pool, sun deck and outdoor barbeque grills. Unit Type SF Closing Price $/SF Type 831 1/1 484 $660,000 $1,364 5/21/2014 Resale 629 0/1 475 $560,000 $1,179 5/14/2014 Resale 836 1/1 755 $838,700 $1,111 4/30/2014 Resale 438 2/2 1,094 $870,000 $795 1/3/2014 Resale 235 1/1 566 $560,000 $989 12/3/2013 Resale 211 2/2 900 $852,000 $947 11/27/2013 Resale 428 2/2 1,092 $1,020,000 $934 11/27/2013 Resale /1 718 $750,000 $1,045 11/22/2013 Resale 504 1/1 852 $770,000 $904 7/2/2013 Resale 404 1/1 852 $755,000 $886 6/7/2013 Resale Averages: 779 $763,570 $980

30 235 Berry Street 99 February 2006 November 2006 Signature Properties ~$500/month 2008 $997 (7 units) 235 Berry 235 Berry features a central courtyard and concierge services. The homes include stainless steel Bosch appliances, ceramic tile and carpet flooring and granite slab countertops. There is one deeded parking space per home and all feature outdoor space. Unit Type SF Closing Price $/SF Type 312 2/2 955 $1,160,000 $1,215 3/21/2014 Resale 706 2/2.5 1,590 $1,695,000 $1,066 3/14/2014 Resale 401 2/2 1,070 $1,100,000 $1,028 3/10/2014 Resale ,610 $1,445,000 $898 3/10/2014 Resale 408 2/2 1,420 $ $968 3/10/2014 Resale 102 2/2.5 1,255 $1,125,000 $896 2/19/2014 Resale 109 3/3 1,500 $1,468,000 $979 12/24/2013 Resale 101 2/3 1,700 $1,462,000 $860 9/20/2013 Resale 113 2/2.5 1,255 $979,200 $780 5/25/2013 Resale 606 2/2.5 1,590 $1,360,000 $855 5/7/2013 Resale Averages: 1,395 $1,315,920 $944

31 255 Berry Street 100 October 2003 May 2004 Signature Properties ~$550 - $600/month 2005 $850 (3 units) 255 Berry Developed by Signature Properties, 255 Berry is located along Mission Creek in Mission Bay. Residences offer views of the City and bay and feature a landscaped courtyard. Amenities include a 24-hour concierge service, in-home security systems and granite countertops. Unit Type SF Closing Price $/SF Type 114 3/2.5 1,950 $1,750,000 $897 5/6/2014 Resale 106 2/3 1,723 $1,325,000 $769 2/20/2014 Resale 102 2/2.5 1,170 $1,040,000 $889 12/13/2013 Resale 412 2/2 1,464 $1,235,000 $844 11/22/2013 Resale 111 2/3 1,345 $1,325,000 $985 9/5/2013 Resale 516 2/2 1,223 $1,300,000 $1,063 7/17/2013 Resale 406 2/2 1,293 $1,100,000 $851 6/25/2013 Resale 116 2/3 1,723 $1,470,000 $853 6/21/2013 Resale 710 3/2.5 2,293 $1,050,000 $894 5/15/2013 Resale 404 1/1 873 $710,000 $813 3/1/2013 Resale 608 3/3 2,293 $2,000,000 $872 2/20/2013 Resale Averages: 1,506 $1,330,500 $884

32 300 Berry Street 269 June 2006 November 2008 Intracorp San Francisco ~$300 - $500/month 2010 $1,033 (11 units) Arterra Arterra was designed as San Francisco s first LEEDcertified residential high-rise building, featuring recycled and sustainable construction materials and finishes and two grass rooftops. The development consists of three buildings: a 16-story tower and nine- and six-story mid-rise structures. Amenities include a 24-hour attended front desk, wellness center with fitness equipment, and a community lounge with an indoor/outdoor fireplace, entertainment system and kitchen. The homes include Energy Star-rated stainless steel Whirlpool appliances, Bosch dishwashers, bamboo flooring, Studio Becker cabinetry and granite slab countertops. Unit Type SF Closing Price $/SF Type 704 1/1 856 $795,000 $929 5/8/2014 Resale 804 1/1 856 $850,000 $993 5/5/2014 Resale 417 1/1 660 $655,000 $992 4/28/2014 Resale 423 1/1 660 $700,000 $1,061 4/11/2014 Resale /1 694 $780,000 $1,124 3/24/2014 Resale 710 2/1 970 $950,000 $979 2/27/2014 Resale 921 1/1 730 $769,000 $1,053 1/17/2014 Resale 602 1/1 728 $720,000 $989 12/27/2013 Resale 306 2/2 1,024 $1,105,000 $1,079 12/19/2013 Resale Averages: 791 $813,900 $1,029

33 345 China Basin Way 329 September 2011 August 2012 Bosa Development Corporation $678 - $899/month 2013 $923 (5 units) Madrone Madrone delivers beautifully executed homes on San Francisco s south waterfront. Located in the heart of Mission Bay, Madrone offers easy access to some of the city s finest restaurants and attractions, as well as public transportation and freeways. The one-, two- and two-bedroom plus floor plans are designed to be spacious, comfortable and modern. Amenities include an outdoor pool and spa, sundeck, entertaining kitchen, fitness center, screening room and attended lobby. Interior finishes include CaesarStone slab countertops, Bosch dishwashers, European-inspired cabinetry, oak or maple hardwood flooring and Whirlpool washer and dryers. Unit Type SF Closing Price $/SF Type 117 2/ $1,010,000 $738 5/6/2014 Resale 214 1/1 835 $850,000 $1,018 4/24/2014 Resale 634 2/2 1,131 $1,200,000 $1061 1/31/2014 Resale 446 2/2 1,219 $1,188,800 $975 1/23/2014 Resale 538 1/1 878 $765,000 $871 12/27/2013 Resale /2 1,921 $2,050,000 $1,067 11/7/2013 Resale / $ $ /28/2014 Resale 603 1/ $ $870 10/22/2014 Resale 517 1/ $ $826 9/25/2014 Resale 207 2/2 1,315 $947,690 $721 3/15/2013 New Averages: 1,256 $1,178,149 $938

34 325 Berry Street 110 June 2006 August 2007 Opus West; Phoenix Property Company $430 - $500/month 2009 $979 (4 units) Park Terrace Located along Mission Creek in San Francisco s thriving Mission Bay neighborhood, Park Terrace is surrounded by 49 acres of parks and promenades. The development is located conveniently next to public transportation, Safeway and AT&T Park. The development features a cardio fitness center, landscaped courtyard with a fountain and barbeque area, secured lobby and conference room. The homes include stainless steel GE Profile appliances, hardwood flooring in the kitchens, carpeting in the living areas, granite countertops and European frameless cabinets with an amber stain. Unit Type SF Closing Price $/SF Type 618 2/2 1,210 $1,250,000 $1,033 5/16/2014 Resale 417 1/1 741 $720,000 $972 5/13/2014 Resale 718 2/ $1,256,000 $1,038 5/5/2014 Resale 405 2/2 1,303 $1,145,000 $879 2/12/2014 Resale 512 1/1 838 $720,000 $859 11/20/2013 Resale 517 1/1 741 $715,000 $965 11/8/2013 Resale 424 1/1 882 $810,000 $918 9/13/2013 Resale 710 1/1.5 1,112 $919,000 $826 9/10/2013 Resale 103 2/2.5 1,280 $1,025,000 $801 8/16/2013 Resale 425 2/2 1,287 $1,040,000 $808 7/12/2013 Resale Averages: 1,060 $960,000 $905

35 330 Mission Bay Boulevard 99 March 2007 July 2008 Bosa Development Corporation $650 - $750/month 2009 $840 (3 units) Radiance at Mission Bay Radiance at Mission Bay is situated along the waterfront and features homes that range in size from 850 to 2,175 square feet. The residences feature hardwood and carpet flooring, European-style wood veneer cabinetry, KitchenAid stainless steel appliances and CaesarStone countertops. Each home includes a parking space. Community amenities consist of a lobby, concierge, fitness room, community room with kitchen and rooftop deck with an outdoor firepit and barbecue area. Unit Type SF Closing Price $/SF Type 107 3/3 1,848 $1,600,000 $866 5/12/2014 Resale 417 2/2 1,391 $1,250,000 $899 1/31/2014 Resale 116 3/2 1,718 $1,312,500 $764 1/14/2014 Resale 401 2/5 1,149 $1,100,000 $957 11/15/2013 Resale 207 3/2 1,814 $1,550,000 $854 10/9/2013 Resale 905 1/1 961 $795,000 $827 5/24/2013 Resale 202 1/1 918 $715,000 $779 2/22/2013 Resale 509 1/1 1,055 $839,000 $795 1/18/2013 Resale 607 2/2 1,777 $1,148,000 $646 9/25/2012 Resale 705 1/1 961 $739,000 $769 8/28/2012 Resale Averages: 1,359 $1,104,850 $813

36 900 Minnesota Street 142 October 2007 November 2008 BUILD, Inc. $350 - $500/month 2012 $934 (1 unit) Homes on Esprit Park Homes on Esprit Park is located in San Francisco s Central Waterfront area. Interior finishes include waxed concrete, bamboo and Berber carpet flooring, Liebherr stainless steel refrigerators, Bertazzoni stainless steel gas ranges, hand-crafted wood cabinetry and granite countertops. Unit Type SF Closing Price $/SF Type 221 1/ $780,000 $934 4/7/2014 Resale 412 1/ $725,000 $868 10/3/2013 Resale 307 1/2 1,114 $816,000 $732 6/27/2013 Resale 425 1/ $715,000 $856 6/14/2013 Resale 502 2/2.5 1,805 $1,151,000 $638 6/4/2013 Resale 114 1/2 1,244 $775,000 $623 1/3/2013 Resale 455 1/ $599,000 $717 8/31/2012 New 352 1/ $620,000 $743 8/10/2012 New 468 1/ $590,000 $707 8/10/2012 New 562 2/2 1,414 $877,000 $620 8/10/2012 New Averages: 1,059 $764,800 $722

37 451 Kansas Street 165 (145 Market Rate) February 2007 September 2007 Lambert Development $380 - $580/month 2009 $1,030 (8 units) The Potrero Located in one of San Francisco s most historical and eclectic neighborhoods, The Potrero offers easy access to freeways, the excitement of downtown, cultural activities and renowned restaurants. The Potrero also includes an onsite Whole Foods Market. The homes feature Studio Becker cabinetry, GE Profile stainless steel appliances and granite countertops. The development offers a mix of floor plans, from spacious studios to expansive two- and three-bedroom townhomes. Many of the homes include private outdoor space. Community amenities include a dramaticallylandscaped courtyard and state-of-the-art fitness center with a Pilates and Yoga studio. Unit Type SF Closing Price $/SF Type 458 2/2 975 $1,025,000 $1,051 5/12/2014 Resale 387 0/1 453 $546,000 $1,205 5/2/2014 Resale 503 3/2.5 1,443 $1,218,750 $845 4/28/2014 Resale 352 0/1 436 $520,000 $1193 4/16/2014 Resale 528 2/2 929 $1,040,000 $1119 4/8/2014 Resale 326 2/2 972 $1,008,250 $1,037 3/28/2014 Resale 268 2/2 969 $999,999 $1,032 3/18/2014 Resale 561 0/1 450 $469,000 $1,042 2/19/2014 Resale 451 1/1 692 $673,000 $973 11/8/2013 Resale 448 2/2.5 1,030 $925,000 $898 11/1/2013 Resale Averages: 835 $842,500 $1,009

38 300 Ivy Street 63 May 2013 January 2014 Ivy Grove Partners, LLC $412 - $650/month 2014 $1,078 (48 units) 300 Ivy Located in Hayes Valley, 300 Ivy offers 63 residences, including five townhomes. Seeking LEED-Platinum certification, the new development features a landscaped courtyard, rooftop garden with outdoor grill, seating and dining areas and a sundeck. Residents will also have access to bicycle storage and onsite carsharing. The spacious floor plans feature wide-plank, sustainably sourced oak flooring, forced air conditioning, CaesarStone counterops, Studio Becker cabinetry and stainless steel Bosch and Liebherr appliances. Unit Type SF Closing Price $/SF Type 507 2/2 916 $1,210,000 $1,321 3/14/2014 Resale 215 2/2 1,010 $967,000 $957 3/3/2014 New 200 2/2 1,308 $1,270,000 $971 2/21/2014 New 414 2/2 970 $1,120,000 $1,155 2/21/214 New 100 1/1 839 $748,000 $892 2/19/2014 New 201 1/1 658 $687,000 $1,044 2/10/2014 New 104 2/2 1,208 $1,249,000 $1,034 2/5/2014 New 511 1/1 692 $737,000 $1,065 1/31/2014 New 513 1/1 677 $723,000 $1,068 1/31/2014 New 102 2/2 1,210 $1,167,000 $964 1/30/2014 New Averages: 949 $987,800 $1,041 Monthly Reports - San Francisco - May 2014

39 55 Page Street 128 (111 Market Rate) October 2006 March 2008 Intracorp San Francisco $300 - $500/month 2009 $1,113 (1 unit) The Hayes Located in San Francisco s eclectic Hayes Valley neighborhood, The Hayes is an intimate building with an attended lobby, private garaged parking, high-speed elevators and roof deck. The homes feature designer finishes, including Studio Becker cabinetry and Hansgrohe and Durafit fixtures, private balconies and terraces and large bay windows. Unit Type SF Closing Price $/SF Type 514 0/1 476 $530,000 $1,113 2/28/2014 Resale 527 2/ $945,500 $924 11/15/2013 Resale 724 1/1 847 $825,000 $974 11/14/2013 Resale 712 2/2 1,008 $955,000 $947 11/6/2013 Resale 620 1/1 746 $785,000 $1,052 10/9/2013 Resale 523 2/2 947 $920,000 $971 9/26/2013 Resale 711 1/1 646 $735,000 $1,138 9/4/2013 Resale 526 2/2 1,034 $1,025,000 $991 9/3/2013 Resale 822 1/1 847 $835,000 $986 8/28/2013 Resale 312 2/2 1,008 $900,000 $893 8/26/2013 Resale Averages: 858 $845,550 $985

40 Pipeline Summary Under Construction Approved Under Review Conceptual Planning

41 Pipeline Summary Condominium Pipeline Summary Area Under Construction Approved Under Review Conceptual Planning South of Market & South Beach Potrero Hill, Dogpatch & Central Waterfront Mission, Castro & Duboce Triangle Northern Neighborhoods Mission Bay Hayes Valley Mid-Market, Civic Center & Tenderloin Southern Neighborhoods 270 1, Treasure Island Totals: 1,776 2,632 2,197 1,372 Rental Pipeline Summary Area Under Construction Approved Under Review Conceptual Planning South of Market & South Beach 1,856 3, Potrero Hill, Dogpatch & Central Waterfront Mission, Castro & Duboce Triangle Northern Neighborhoods Mission Bay Hayes Valley Mid-Market, Civic Center & Tenderloin ,136 0 Southern Neighborhoods Treasure Island Totals: 3,659 5,372 1, Notes 1) Northern Neighborhoods covers Richmond, Laurel Heights, Cathedral Hill, Western Addition, Pacific Heights, Nob Hill, Lower Nob Hill, Financial District, Russian Hill, Telegraph Hill, North Beach & Marina/Cow Hollow. 2) Southern Neighborhoods covers Parkside, Parkmerced, Glen Park, Hunters Point and Bayview. The Mark Company maintains a detailed list of all upcoming developments in the pipeline. Contact Erin Kennelly at erin@themarkcompany.com for more information.

42 Pipeline Summary TBD Pipeline Summary Area Under Construction Approved Under Review Conceptual Planning South of Market & South Beach - 1, Potrero Hill, Dogpatch & Central Waterfront ,323 Mission, Castro & Duboce Triangle Northern Neighborhoods Mission Bay - 0 1,000 0 Hayes Valley Mid-Market, Civic Center & Tenderloin Southern Neighborhoods - 14, ,361 Treasure Island - 8, Totals: - 25,471 3,164 4,484 Notes 1) Northern Neighborhoods covers Richmond, Laurel Heights, Cathedral Hill, Western Addition, Pacific Heights, Nob Hill, Lower Nob Hill, Financial District, Russian Hill, Telegraph Hill, North Beach & Marina/Cow Hollow. 2) Southern Neighborhoods covers Parkside, Parkmerced, Glen Park, Hunters Point and Bayview. The Mark Company maintains a detailed list of all upcoming developments in the pipeline. Contact Erin Kennelly at erin@themarkcompany.com for more information.

43 The Mark Company (TMC) Disclaimer Professional Opinion. With regard to the consulting services, reports, projections, and recommendations to be provided by TMC under the Agreement, whether delivered orally or in writing, the parties acknowledge that the matters on which TMC is consulted [e.g., assessing potential competition, market trends, demographic trends, financing availability, and the like] are not the subject of a predictive science, and are instead subject to unforeseen market variables and conditions. Client therefore understands and acknowledges that TMC s projections and recommendations as contemplated by the agreement are solely the result of TMC s considered opinion based on TMC s assumptions and judgments predicated on past experience in light of the relevant data studied with respect to the market conditions and the proposed project. Consequently, Client specifically agrees (a) that TMC s projections and recommendations constitute opinions only and do not constitute any representation or assurance of any future market conditions; (b) that any action taken by Client based on any such TMC projections or recommendations is made without any reliance thereon as a representation or assurance as to any future market conditions; and (c) that Client will not hold TMC liable or otherwise responsible for any losses occurring in the event that future market conditions deviate from TMC s projections and/or recommendations. Use of Product. All information, data, projections, and recommendations received by Client from TMC in connection with the Agreement, whether presented orally or in writing, shall be solely for use by Client, and is/are not to be used or relied upon by any third party[ies] without the prior written approval of TMC having been first had and obtained. TMC specifically disclaims any and all liability to any third party[ies] deriving from the use of, or reliance upon, any such material, and Client agrees to hold harmless, indemnify and defend TMC from any claims arising from any such use or reliance.