In January we plugged you in to the 21 condos at The Bay (329 Bay). In February we gave you the scoop on pricing and (rough) timing. And this weekend, they opened the doors.
And if you were interested, hopefully you made the trip. For according to Damion Matthews, only two (2) of the 19 market rate condos remain available (the three-bedroom on the first/second floor and a two-bedroom on the 3rd floor). Damion’s thoughts on the development’s success:
Location: Everything that Rincon/South Beach promises to be in a few years. Two grocery stores a block away. Restaurants and shopping everywhere. Just a two-minute walk to the cable car and Muni. Bay Street is busy, but the building also faces quiet, tree-lined Vandewater, which is charming.
Price: At approximately $850 per square foot, the pricing is right in the middle for new developments and resales in the SF condo market; but with one-bedrooms priced under $600k, and two-bedrooms under $900k, it’s at a lower price point so it’s affordable for a wider group of people.
Product: Attractive, high-end finishes. German Beech hardwood floors. Spacious bathrooms. Walk-in closets. I’d say the floor plans are typical for condos of this small size. Some have patios. Underground parking. But the best thing about the product – it’s new! There’s no need to knock down walls and rebuild the bathroom or the kitchen, which buyers in older neighborhoods like this often resort to.
And as always, if any “plugged-in” people happen to be buyers, let’s not forget those invitations to the housewarming(s).
∙ The Bay Condominiums (329 Bay) [SocketSite]
∙ The Bay (329 Bay Street): Complete Pricing [SocketSite]
Speaking of location, I’ve noticed that Broderick Place seems to have sold out, or at the very least is no longer advertising. It would seem that developments in established, sought-after neighborhoods would have a definite advantage compared with the still under-developed and under-amenitized areas where so many new units are coming on line.