While early buyers have already taken occupancy, Park Terrace (325 Berry) held their “Grand Opening” this weekend (roughly eleven months after their first release of condos). From a tipster:
“50% sold according to the agent that gave us a tour but it looked closer to 30% based on his sales sheet. My request for a full list of available units and prices was met with a car salesman’s “they won’t let us give them out because they keep raising prices every two weeks” reponse. Decent finishes and we liked a few of the terrace units that faced the water. Surprisingly difficult to find street parking. Do you know if they’re planning to build any public parking garages in the area?”
We can’t confirm any price increases to date (nor the sales figures), but we have previously noted some (minor) evidence of the opposite. And in terms of any planned public parking garages, we don’t (know).
∙ The Park Terrace (325 Berry): Now Selling [SocketSite]
∙ Park Terrace (325 Berry): A Few Prices (And A Terrace) [SocketSite]
∙ Park Terrace (325 Berry): A Few More Prices (And A Townhouse) [SocketSite]
On the parking garage question – there are already some garages open to the public down King closer to the ballpark and to the south around UCSF. The only other parking garages that will be built or allowed in the Mission Bay plan will be around UCSF. Giants Lot A (owned by the Port) will likely have a parking element to it when the port redevelops it, but who knows?
If you want a garage on Berry Street – it ain’t gonna happen – there is no way in hell that the city will build a garage within spitting distance of two Muni light rail lines and the Caltrain terminus.
On CL this weekend, Park Terrace advertised a special Grand Opening financing special. Did they provide any details on this?
I saw these this weekend and had a great appreciation for the layout of their townhome floorplans. While not for everyone (ground floor with windows facing the public outdoor walkways), they felt like they were more of a SFR rather than a condo. Negative: looking out onto the freeway and some of the developers’ choice in window placement is questionable.
I stopped by yesterday (Sunday) afternoon, and they were very busy. The units are nice, the townhomes on the ground floor especially. Fitness center and outdoor courtyard overlooking the water very nice as well.
Great closets and finishes were ok but personally didn’t like the townhomes – main entrance through the garage was weird and I have no desire to live in a fishbowl. I did like the south facing units with big windows and lots of light but found it strange that only two of the most expensive units have A/C. If it’s not necessary, why offer it at all?
Anyone know what the HOA ranges from for this complex?
[Editor’s Note: From the mid $400’s to mid $500’s per month.]
Based on all the weekend traffic how do folks think Park Terrace stacks up against 235 Berry (also new units) and/or 255 Berry. Also would be interesting to see the buy versus rent numbers on Park Terrace v Edgewater?
I’m a resident of 255 Berry and have seen 235 and Park Terrace as well. Honestly, they are all quite similar in feel and construction (although I did hear that a floor collapsed during construction of Park Terrace, which doesn’t quite inspire confidence – perhaps somebody else can clarify or elaborate). One advantage 255 (and I believe 235 as well) has over Park Terrace is the bathroom finishes. 255 has full limestone baths (other than the tub, toilet and sink, obviously), while I recall Park Terrace having some stone and some simple white ceramic type tile in the bathrooms. Park Terrace has one advantage over 235 and 255, and that is a fitness center (consisting of a handful of treadmills). 235 and Park Terrace have one advantage over 255 – they have gas ranges, while 255 has electric.
I like the look of that whole street, so unusual to see everything so new and clean. I keep hearing the creek smells, and can confirm it does. Imagine when Arterra is done and they build out that other empty lot and everyone moves into the other buildings, parking for guests is going to be the worst in the whole city!! Wow, you’d probably be able to rent out your parking spot for $350plus though if you sold you car, you’d still have a tough time for friends to stop by and visit, you are up this little ally and no parking for many blocks… that is going to be crazy.
Can anyone provide details on the special financing that should have been offering during the weekend?
That neighborhood is really coming together nicely. There is a lot of street parking on the other (south) side of the creek, at least when there isn’t a game. But certainly the parking situation will get worse as more mission bay developments get completed.
And yes, the creek really does stink on occasion (maybe low tide?). There is a reason why longtime houseboat residents call it s**t creek. That is one of the main downsides in my mind. It would be a bummer to not be able to open the windows on a beautiful summer day.
For the buyers of the berry st. condos, im curious as to what the marketing agents say when you inquire about the awful smell coming from the creek at times. Just wondering how much they disclose about the [sewage pump station] at the end of the block
What IS that smell? Is it really sewage? I have gone to visit friends there, and, it was disgusting about a week ago! When we got out of the car, we thought a stink bomb had gone off. You would think the city would do something about this, but I guess we all know better than to expect anything by now.
It is an awful bad smell and truly takes away from any “high end” aura that may be associated with those buildings. They should think about ways they can clean up that creek before they bring on even more units in that area.
I walk up and down creek’s walkway a couple times a week and during warm days or low tide the whole area smells like rotten eggs. I guess it’s the pollution combined with the exposed algae baking in the sun.
One would think the residents or developers would demand the city do something especially with million dollar condos sitting right on the creek. I rent at Avalon and wouldn’t consider buying there (except maybe a high floor at [Arterra]) unless they find a solution to the smell…
I hope it is algae baking in the sun, but the Pump Station next to 7th street seems to smell bad. Does anyone know what that pump station is pumping? It sure smells like sewage, though I guess it could be water from street drainage?
You can smell the stench all the way down to 3rd street so whatever the station is pumping is either spilling into the creek or the creek itself has some foul smelling pollutants in it (along with baking algae).
And regarding Park Terrace, they are not selling well. The number sold IS 30% and not the 50% they like to throw around…
And why not show their whole inventory? Seems if sales are that weak they would be more accommodating to interested buyers instead of claiming to raise prices to give the appearance of strong sales.
I can say for certain that the pump house at the end of the street pumps both rain water and the dry sewage from business and residential units. It is pumped to the sewage treatment plant on the south east side of the city. But yes, during very very heavy rainfalls, the station overflows and releases raw sewage into that creek. Im just curious as to how much of this is disclosed to the buyers since they advertise the creek as a backyard water view.
“I stopped by yesterday (Sunday) afternoon, and they were very busy”
Hmmm, definitely not what I expected in these times of uncertainty. Were those just curious people or is the market more stable than the socket site naysayers let on?
The odor you smell is a result of low tide at certain times. The tide rises and falls in the creek twice a day flooding in ocean water from the Pacific, therefore the actual water in the creek is direct from the Pacific especially at high tide. The tidal ecosystem of the greater SF Bay is truly awesome but sometimes does smell awful. What’s really cool is that the pungent smell allows us to recognize the low tide with a sense other than sight. While you do have to learn to live with the occasional stench for me it is far outweighed by living within a tidal ecosystem.
I worked as a consultant on the construction of this building; the collapse was due to shoring failure, not structural failure of the building itself. The developer was pretty good, not any corner cutting anywhere – if something didn’t fit it got reordered… I never sensed the smell when I was there, but I did not pay that much attention either. My only problem was that the square footages were kind of short for what we needed. Oh and that they didn’t provide any discounts to those who worked on the project 😉
When I was a kid in the 70s I had a friend who lived on a boat tied up at the China Basin Building. During and after winter storms occasionally the pump station would send sewage into Mission Creek and leave him and his family gasping for oxygen. The standard stink you smell 360 days of the year is largely ecological, however (shout out to “mean low”). Take a walk along any fecund tidal area and, as “mean low” says, recognize the tide. It’s a reality that transcends limestone bathroom finishes.
Park Terrace was my last stop on Sunday afternoon — just out of curiosity, as we have friends who recently purchased and will be moving in soon. I had not seen any of the new developments along Berry, and wanted to look around. They were out of brochures and pricing sheets, the sales rep that met me had just finished a tour with someone else — all of the other reps were in various parts of the building, showing units. We ran across them from time to time. I arrived at 5:20PM. I stood outside in the courtyard overlooking the creek for several minutes, there was no smell from the creek. Nice breeze blowing.Knowing the ecosystem in the area, however, I am sure the smell is pretty bad during low tide. It was interesting to see the people who lived in the houseboats as well.
Prior to arriving at Park Terrace, I also looked at some places in Bernal Heights, Noe Valley, and Miraloma Park. Every single ‘Open House’ I stopped by was busy. Every agent was tied up talking with someone, several of who sounded very serious about the properties.
Just moved into Park Terrace, and I’m not sure what people are saying about the smell. Occasionally the creek smells a bit, but if you’ve lived by the ocean (or work on the Embarcadero) at all you know… the ocean smells.
But maybe that’s just me.
“movingback” – I’m beginning to doubt your credibility. We stopped by on Sunday around 5:15 as they were starting to shut down the open house and catering. There was a stack of market brochures in the lobby when we arrived as well as when we were leaving. They never had price sheets (we asked as well).
Anon, just my observations of what I saw on Sunday. I noticed the catering items were all put away as well, and the trash cans were full. During my tour of the building, I noticed several sales reps with other people looking around. No brochures or price sheets for me — maybe they had just put them away?
At any rate, I think it’s a nice development and the area seemed nice as well. Perhaps I am not as pessimistic as others.
The open house anecdotes are indeed insightful. I go into any and every open house I see for fun, regardless of price or neighborhood. Increasingly I’m seeing price reductions, sometimes even scrawled by hand on flyers. Looked at a $1.65 million place this weekend which had been reduced to $1.5 million THAT DAY.
Maybe I’m just not seeing the same open houses the rest of you are….
Why would someone buy a pricey new development & pay transfer tax, while they can buy a resale at 235 or 255 Berry?
Make sure you check out the many sewer overflow pipes all along waterfront + the big sewer pump station on the east end. Just follow your nose.
“Take a walk along any fecund tidal area and, as “mean low” says, recognize the tide. It’s a reality that transcends limestone bathroom finishes.”
Gotta hand it to you Pritchard, that’s the quote of the week! Running across wit like that reminds me why I read this blog. Congrats and thanks . . . .
I’m wondering how many of prospective buyers who put down a deposit will now have/decide to walk away because of the lending crunch. I guess Park Terrace will be a case study since they just started closing. ORH and Infinity are next.
Anon, – how do you know for sure that none have bailed out yet? This is not something a sales agent would tell you…
has anyone seen the black top basketball courts that is a stone throw from Park Terrace? I’m guessing they are not private, possibly part of the “restricted income” housing project next to Park Terrace? It doesn’t make Park Terrace or Arterra seem so exclusive anymore? I was in the area looking at some units in PT and already saw a mercedes that had been broken into with glass all over, right off Berry St.
regarding price increases, i doubt that is true. the developer was playing hard ball a couple months ago, not even willing to throw in the fridge at the unit’s full price. now it sounds like they are offering fridge, w/d as a standard. he must be getting nervous now that PT has closed on the sold units and he now has to start paying HOAs for the vacant condos/townhomes…..especially when they are only 30-50% sold.
that creek has a nick name, sh*t creek. i often wonder if any of those houseboats tied up across the way treat their plumbing or just pump it into the creek. it would certainly explain the smell.
the area has so much potential, don’t get me wrong. i love the walkway along the waterfront when the creek stench doesn’t drive you away from using it.
Does anyone have information on the BMR units in the area around Park Terrace and on the plans for the area across the creek? The SF development plans show much affordable and very low income housing going up and already available. Will this affect property value and resale at the Park Terrace?