Three months ago, two listings for condos in The Infinity were added to the San Francisco MLS (301 Main Street #6G and 318 Spear Street #4A). This evening, the prices were reduced: #6G was lowered $90,000 (7.4%) and #4A was lowered $70,000 (9.3%). We’re trying not to read too much into the reductions, at least until we’ve had a chance to chat with a number of insiders and tipsters. “Plug in” tomorrow for an update and the inside scoop.
In related news, new content has been added to The Infinity’s website since our last visit. The addition of live-action/rendered video clips once again raises the bar for other new developments about town. And yes, we’re biting our tongues with respect to the all too obvious real estate “porn” remarks (see “Residences: Bathrooms”).
UPDATE (11/07): According to a tipster, as of last month the sales office had contracts in hand for ~30% of the development. That’s in contrast to the ~90% figure for One Rincon, but in and of itself, isn’t necessarily a sign of weakness. With well over a year until occupancy of either new development, it’s possible that The Infinity is simply taking a long position that demand (and prices) will increase as the condos become more tangible.
UPDATE (11/07): An HTML glitch truncated a great comment from a recent buyer at The Infinity, “Appliances are now included (washer/dryer/frig) and the prices are a little soft. I got a 1 bdrm [for under] $800 sq/ft. 1 Rincon has a 1 bdrm on the 17th floor (700 sq/ft) for 625K, which is pretty cheap.”
UPDATE (11/07): And now we’re trying not to read too much into the fact that the list prices were returned to their pre-reduction levels the very next day…
∙ The Infinity: A Study In Contrast [SocketSite]
∙ The Infinity Hits The MLS [SocketSite]
∙ The Infinity Website [the-infinity.com]