235 Berry: Floor Plan A
There might only be six (6) condos at 235 Berry listed on the MLS (and counted by most as “official” San Francisco inventory), but as of yesterday there were twenty-four (24) units still available for purchase (ranging from $845,900 to $1,038,900). That’s 75% sold for 235 Berry and, as best we can tell, roughly four new sales over the past two months (versus roughly 30 over the previous four).
And once again, it’s a great example of the difference between industry reported inventory statistics (the basis for the oft mentioned months of supply) and the SocketSite Complete Inventory Index (Cii).
235 Berry Street: 72% Sold (And A Few List Price Increases) [SocketSite]
SocketSite’s Complete Inventory Index (CII): Q3 2007 (SF) [SocketSite]

35 thoughts on “A Sales Slow Down At 235 Berry? (Now 75% Sold)”
  1. no comments except that I seriously like the floor plan. It provides a “second bedroom” which works equally well as a office, den or media room. And, sensibly, provides only one tub, in the bathroom most likely to be used by children (if there are any). Sensible.

  2. I noticed that a lot of 2 bedroom floor plans in new developments tend to have a shower only in the master bedroom and a shower over tub in the 2nd bath. What about buyers who want a tub in the master?

  3. What about buyers who want a tub in the master?
    Buy in one of the new developments that has a tub in the master. Or buy a resell somewhere that has a tub in the master. Or buy one of the units, and remodel to put in a tub.

  4. Sales are slowing because the pricing is still so high. Have they adjusted prices downward or started offering incentives?

  5. I am not surprised that sales are slowing. Have you smelled that aroma coming off the “canal” during the summertime?? It is beyond me why anyone would want to face this swamp. In addition, the noise off the 280/King overpass echos down Berry St as if you are living in a tunnel. It is apparent buyers are waking up and becoming more selective.

  6. I toured the above floor plan in December (6th floor, facing canal). My biggest turnoff was that it feels even smaller than the square footage indicates, especially in the bedrooms. I also didn’t like the boxy feel. Given the price they were asking I never went back. I didn’t notice any smell from the creek on that particular day.

  7. I have lived in Mission Bay for a few months now and have never noticed a bad odor from the creek, mosquitos or noise from the 280 on/off ramp. I don’t think “nonsexy” is talking from experience. I think he is an SF renter that can’t afford to own and is praying prices will drop.

  8. Having looked in this building but bought elsewhere the gotcha for me was not the layout which I actually like, you can’t beat an entrance that is seperate from the kitchen but location… it is amazing how large the blocks in mission bay are, 4/5 extra blocks add a half a mile to a downtown commute.

  9. I actually live and own in the REAL south beach. No need to get defensive. What happens in mission bay is a precursor for us in south beach.

  10. South Beach. There’s only a handful of condos in the real south beach.
    As for Mission Bay, I would advise not to live on Berry Street. With all those condos and rental units on the same block, it will get miserable plus its always windy on that street. In a couple of months, the low income units at the end of the block will open and it’ll get even worst. If I was to buy in Mission Bay, i’d but something south of the canal. Wait till they develop the units near UCSF.
    As for South Beach, this is the ideal location. For all the talk of SOMA, South Park, Mission Bay or Rincon (even though I love the Infinity), South Beach can’t be beat. With the tree lined streets of Delancey to the ballpark, this is where people should want to buy. There quilty of the buildings is alot better than a bunch of new developments.
    Your thoughts?

  11. “What happens in mission bay is a precursor for us in south beach.”
    I think this is untrue. When we talk about Mission Bay to South Beach it is not apples to apples. South Beach has a different kind of buyers than Mission Bay.
    Thus I cant remember any condo in South Beach that was offering incentives when they were new. From what I see, all the buildings in MB is offering something (Arterra, 170 Off 3rd, Beacon and Park Terrace.).
    My bet is that if any of these buildings were in South Beach, the building would have sold out or almost sold already.
    The real South Beach is HOT right now! Units that are priced right are getting bought up. Look at the MLS w/ Clocktower, 88 Townsend, The Brannan and 200 Brannan. Some of the units went in less than 2 weeks!
    I’ll put my chips in South Beach!

  12. “Thus I cant remember any condo in South Beach that was offering incentives when they were new. From what I see, all the buildings in MB is offering something (Arterra, 170 Off 3rd, Beacon and Park Terrace.).”
    That’s not because of the location, that’s because of the MARKET and it’s coming soon to a block near you. Try taking a look on Zip. Brannan, 88 King, Portside and Watermark all have stale and reduced listings just to name a few.

  13. Michael,
    Of course there’s unis sitting on the market for days/months but look at what’s happening over in Mission Bay. The resales at the Beacon are horrible. Second, Santa Fe Partners are offering great units at the Glassworks and one is remaining with all the incentives. Third, look at all the units on Berry! None are sold out. They’ve been trying to sell them for over a year! The Infinity has sold at a faster rate than any of these units! WHY? Becuase of the location. Living on Berry is not ideal. Yes, the market has slowed but priced right properties in great locations will sell. Thus why I said South Beach is where you want to buy now.
    As I stated earlier, If 235 Berry was located at where 200 Brannan is, I’m sure they’ll sell more than 4 unit in a couple of months. Time has come where people buy just to buy. Remember the #1 rule in real estate, Location. For location, South Beach > Mission Bay.
    Yes the market has changed but there’s a reason why those Berry properties haven’t sold yet with over a year on the market….

  14. Mosquitos don’t breed in salt water so I don’t think the canal is going to make any difference on that score.

  15. “Thus I cant remember any condo in South Beach that was offering incentives when they were new.”
    Do you remember the Watermark? Reduced prices a number of times and had to offer two years paid HOA. Those are called incentives.
    255 Berry is sold out and did so faster than the Watermark.
    Infinity is a completely different product that’s not in South Beach and it isn’t even selling faster than 235 Berry.
    Get your facts straight. South Beach is not immune.

  16. “Infinity is a completely different product that’s not in South Beach and it isn’t even selling faster than 235 Berry.
    Get your facts straight. South Beach is not immune.”
    Michael, this is a joke? Infinity has way more units than 235 Berry plus its another year before people move in and they are selling at a better rate than Berry. If you read what this post is about, 235 Berry sold 4 units in the last 2 months. Go ask around and i’m sure the Infinity sold more than 4 this past month alone. Lets not talk about One Rincon also.
    As for the Watermark, thats a different story. The developer’s had to give money back to the port and thus there was a fire sale with the last 10 units only. Look at the Incentives condo’s in Mission Bay/Berry are offering. 3.5% rates, flatscreen tv’s, hardwood floors, HOA’s etc.
    To sum this up, if you want to talk about value in long term, South Beach is the best bet. Location again!
    Go ask the developer’s at 188 King why they decided to rent their units out.

  17. Don’t forget, the units at the Infinity (and One Rincon) haven’t actually “sold” yet. Given what’s happened over the last few days, it will be interesting to see what happens when the buildings are ready for occupancy.
    Sorry, that’s a tangent to this conversation, but just responding to the last few comments.

  18. South Beach is also FULL of low income housing and rental only housing. Delancy Street, and those other hideous rental only units. The Towers did not sell so fast. 170 is still in South Beach. So, yea, a ton wrong.

  19. “170 is still in South Beach. So, yea, a ton wrong.”
    Yep, you are wrong. 170 Off Third is NOT part of South Beach.

  20. According to the map suggested by “170Buyer,” it looks like South Beach extends north, under the Bay Bridge to Market. I don’t think this is close to correct. If this section of the map is wrong, you have to wonder what else on this map is wrong.
    My understanding is that South Beach only extends as far north as the south side of Bryant (not quite sure how far west from the Embarcadero). Moving north beyond Bryant is considered Rincon.

  21. “it looks like 170 Off Third is a part of South Beach.”
    170 Buyer,
    Hope your agent didn’t tell you 170 Off Third was part of South Beach when you bought your condo. As the poster above mentioned, the map you posted is wrong. South Beach starts from 2nd down to the Embarcadero from Bryant to King.

  22. People, look up the MLS districts. The map posted is correct, and subdistrict H of district 9, with the label “South Beach” extend to Third and includes Rincon Hill.

  23. From 170 Off Third’s very own marketing way back when, “The 170 Off Third Sales Team is excited to announce its Sales Center opening Saturday March 10th at 11:00 am.! Stop by the Sales Center early to learn more about South Beach’s most innovative collection of residences.” Further evidence that it is South beach, http://www.reineckandreineck.com/reineck/maps/realestatemaps/sfassociationrealtors/SFARSanFranciscoMap.pdf
    Also, if you go to 170offthird website, click “contact” open the map, you’ll see the sales center at 177 Townsend, which is actually in the belly of the building, is in fact in South Beach. Third Street is actually the border. It’s South Beach.

  24. Wow, i’m confused. Guess I was wrong about where South Beach starts. I thought I remembered looking at another map the City presented and SB started on 2nd??
    Oh well, does anyone know if there’s a sign on 3rd that says “South End District”? It should be in brown. I remember seeing those signs on Delancey and 2nd and maybe that’s why I thought SB was there???

  25. sb,
    Don’t fear. You now have the link to “the map”. You’ll never be confused again, until you find a property that is right on the line. That, of course, is “the map” that SFAR uses. It wouldn’t surprise me if the city had something entirely of its own, and totally different. 😉

  26. “Who cares if 170 off Third is in SB or MB. It’s a cheaply constructed POS regardless.”
    170 off third may suffer from quality, but they were priced accordingly. ($430k for a studio including parking is not bad at all imo.)
    This project made lots of effort trying to market itself as a south beach complex while it’s really right on the boarder line between south beach and mission bay. So in terms of location, it’s not really that much better than the berry st. developments.

  27. You guys are so silly. In the grand scheme of things, it doesn’t matter whether it’s SB or MB. I thought it was a good location nevertheless just because it’s in the heart of a very vibrant and up and coming area…. and even if it’s considered Mission Bay… I still don’t think it’s in the same as the Berry developments. That creek stinks!

  28. Those maps are very interesting, thanks for the link.
    These maps must evolve over time though, because in reference to District 6, “Hayes Valley” recently really didn’t exist as a neighborhood place name until the overhead 101-Fell extension was torn down.
    Except for a couple blocks of Hayes Street itself, Hayes Street Grill to Suppenkuche, and some sweet mews like alley streets, it was a bad news area and even “Lower Haight” was a preferable place name.
    “Hayes Valley” was a real place name way back in the 19th century, when that was more or less the western edge of the city.

  29. Does anyone know if the low income units at the end of Berry street are the same as the types as in the western addition? I was under the impression that these homes were not, hence, would not impact values in the area. The only thing I can see impacting the 235/255 Berry St buildings are the buildings being built right across the stree from—blocking their views.

  30. It was very interesting to see that people compare 170 off to 235 Berry.
    I was shopping for a two bedroom condo earlier this year and see both properties. My hearts bring me to 235 Berry. There are both goods or bads in both building, but at the end I think 235 Berry fits my needs more.
    For the view, I brought an non-view unit, facing the berry street, looking into the courtyard of avalon comparing to a view unit towards the ATT park in 170 off. At the end, I like the floor plan in Berry better, they are around the same size just around 1000 sqft. The room in 170 off is too small for my taste, and the bathroom took out too much space.
    Besides, even though the 170 off is facing south, I still feel very dark in the unit, since I am at the mid level of the buildings.
    For the price, the unit at 170 off is 835 per sqft, where as 855 per sqft at 235 berry, for $20 dollar different, I do believe 235 Berry has a better value, a much high quality in material used and details touch.
    Besides, my units already come with the fridge and hardwood floor for the living room, compare to 170 off not include in the price (so it should add around $10 to 170 off).
    Of course, at the end of the day what make 170 off is costing more is the view and the amenties, such as the pool/ club room and gym, compare to 235 berry (nothing offer except a courtyard).
    Facing the ATT park is amazing, but same as the noise during the game if leave the window open, so it is not very everyone. And facing the skyline on the other side is also nice, however, the price point is also higher and there is only one unit left at the upper level by the time I checked. It still felt dark in the unit. And there are a few in the lower floor, which the view might get blocked if it is below 6 floor (and 7 to 11 sold out, except one).
    Furthermore, the famious “ugly” art work and dark alley is a big turn off for me.
    The number units are something I consider 235 Berry offer 99 units, and I think 170 off offer 199 units, so both considered as mid-rise? But personally preference, I believe less units are better, although usually make the HOA higher.
    HOA is around the same for me, 235 Berry offer 9-5 doorman without anything else, compare to 170 off with all the goodies, but without a doorman. At the end, I think, I don’t really need the gym or pool, since I never execise, and the club room is nice, but I usually host party at my own home. So I brought a unit in 235 Berry.
    This is considered as my home, and not for investment purpose, I believe in the long run, 170 off HOA will raise alot, since there are alot of things to maintain, while 235 berry should keep in slower. This is just my two cents.

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