CFAH

Radiance at Mission Bay Reductions
Plugged-in people knew the Radiance at Mission Bay price cuts were coming, and now they’re here. Official reductions of up to $365,000 (26.5%) off of original prices plus two years of pre-paid HOAs. And now priced from $576 per square foot.
That being said, do keep in mind that according to a reader 330 Mission Bay Boulevard (Radiance) #116 has already closed escrow with a reported contract price of $960,000 ($557 per square foot) while originally priced at $1,390,000 (a reduction of 31%).
The SocketSite Scoop: Radiance To Announce Price Cuts Next Week [SocketSite]
Radiance At Mission Bay Phase I Update: 55% “Sold” And Closing [SocketSite]
Radiance At Mission Bay Phase II Update: Officially “Suspended” [SocketSite]

Comments from Plugged-In Readers

  1. Posted by Bernie Lomax

    And then you realize that you live at Radiance.

  2. Posted by tipster

    So if someone got a 31% discount to list on unit 116, that means people should be able to get a discount to list on these new list prices as well.
    When you factor in another 31% discount, you are looking at around $400 psf, which would start to look pretty good if rents weren’t dropping.

  3. Posted by cooper

    The problem with those units is they are practically in the Pacific Ocean. the neighborhood just hasn’t caught up yet. 3-5 years I bet they have a nice hoppin hood tho.

  4. Posted by jessep

    Time to go take another look =)

  5. Posted by jessep

    Does anyone know which units have the water views?
    I want to make sure i know what to look at =)
    thanks!

  6. Posted by luvinmissionbay

    Bernie Lomax…I realize many people on this board share your opinions and don’t like that hood whatsoever or Radiance and I totally understand the reasoning. There are plenty of us who like that location and Radiance (specifically) for many reasons including weather, access to peninsula, access to bay views, one of the nicer condo complexes in the city, and some of us even like living in a changing neighborhood where you get to see the area build up around you.
    The somewhat ironic thing about the whole debate about that area is that I can’t count the number of people who didn’t understand any of the positives about South Beach/MissionBay/Potrero not too long ago who’ve since moved there and now sing a different tune. Anyway, if I didn’t already love where I currently live in Mission Bay, Radiance would be my second choice.

  7. Posted by spencer

    let’s see.
    $1M for a 2bdr condo in an undeveloped construction heavy neighborhood, 10++ yrs away from being a “real” neighborhood.
    Granted the weather and commutes are nice. but if you want nice weather and easy commutes, why not just live on the peninsula? i don’t see much difference.
    this is the emeryville of san francisco.
    I cant foresee any of these units selling above $999,000.
    Honestly, i think you would have to own these for 15+ yrs to see any real appreciation for this current level.

  8. Posted by anon

    “Honestly, i think you would have to own these for 15+ yrs to see any real appreciation for this current level.”
    No worries, by then the Big One will have taken care of these landfill dwellings.

  9. Posted by location

    I agree with Spencer to some extent. I would not go so far as to call this area the Emeryville of San Francisco, but these prices seem to already have baked in at least the development of Seawall Lot 337. When do they break ground on that?

  10. Posted by Question

    Have they said when there will be a grocery store and other life amenities down there?

  11. Posted by flaneur

    The Central subway will eventually make Mission Bay a short hop to Union Square and FiDi, so it is a good long term investent.

  12. Posted by tipster

    Flaneur, I went to the DMV today to try to ask them how soon the central subway would be built, but it was closed because the state doesn’t have even enough money to keep the existing services running.
    I’m sure they’ll just fly right through that central subway in a matter of months — NOT!
    Anyone who expects that Central subway to do anything need only wait for prices to keep declining for a few years, and THEN buy. They’ll still have plenty of time to wait!

  13. Posted by flaneur

    Tipster – Like it or not, government is not shutting down. Instead it is getting bigger. There’s not a chance that approved projects (good and bad) will be cancelled.

  14. Posted by two beers

    flaneur, I’m glad to hear you’re willing to take on a massively increased tax burden to fund this project as we enter a time of plummeting tax revenues. Like it or not, all city programs will face severe cuts in this crisis. including hospitals, police, and fire. Your civic duty is inspiring — you’re my hero!

  15. Posted by sharpie2828

    Does these units only come w/ 1 parking space as well no matter which unit you get?

  16. Posted by EBGuy

    Meanwhile, less than 15 minutes from downtown SF is the Cathedral Building, coming in at less than $500 per sq.ft. Not saying this is a direct comparison, but alternatives are important as the market tries to find an equilibrium.

  17. Posted by StillWaitingForTheRightPrice

    Even with the reductions, these units still do not sound like a bargain to me. I’ll wait yet another year. With all these layoffs snowballing, it’s nearly impossible for anyone to qualify for a conforming loan to be able to snap up one of these places, and conforming loans are about the only loans banks are willing to do nowadays.

  18. Posted by condoshopper

    how many percent sold is it? while it still looks too expensive, i can’t imagine how the original prices could be remotely justified.

  19. Posted by hhatmm

    I love the location and the potential. The weather, access to freeway and the peace and quiet; a respite from hectic days. I can’t be happier to get out of the stress of the congestion of my old neighborhood or deal with parking.
    Although San Francisco is surrounded by water, the fact of the matter there isn’t that many waterfront homes built up along shoreline for purchase. Waterfront = right on the waterfront. Not 2 blocks away.
    On the west side homes are blocked of the pacific ocean view by tall sand dunes and is cold.
    The Northside is taken up by the Presdio, Fort Mason and Fisherman’s wharf. The privilege few are those who live on Marina Blvd.
    The northwest side is taken up by downtown. Currently the highest concentration of waterfront homes rest in the area of South Beach and Hunters Point area.
    Radiance and seawall 337 is just one of the rare and few opportunities to capture a REAL waterfront address. Other option is to wait for Hunters Point of Pier 70 to develop. Best of luck to all.

  20. Posted by lolcat_94123

    Props to EBGuy for mentioning Cathedral Building – I love that development. SS – any news on it?

  21. Posted by anon

    hhatmm-or you can move to Foster City today if waterfront is so important for you. It has freeway access, weather and peace of quiet.

  22. Posted by feskone

    U know Im not a seller, not a buyer, not an owner, but this is what it looks to me as for somebody who is from another country. (Spain, Barcelona, Stockholm Sweden). Loong time ago I was a regular shopgirl and I remember those times when we stayed up late at night “drawing” “new higher prices” and percentage of discount with “new lowered price” on the tag for people next day shopping for “low priced things”. Maybe Im totally wrong, but this is what it looks to me personally 🙂

  23. Posted by flaneur

    two beers – You don’t need to thank me for increased government spending. Thank your Congress.

  24. Posted by hhatmm

    To Anon,
    Why move to Foster City when the land is sinking and Commute to SF is 40 mins to 1 hr? My commute is 5 mins. by car and 10 mins. by bicycle. I’ve saved 6-8 hours a week on commute and don’t have to fill up gas every 4 days.
    No doubt about it Foster City is a great place. Maybe when I have a couple of kids who need a backyard to run, then the burbs make sense.

  25. Posted by sfrob

    from utterly ridiculous to just plain over priced… are there 1BR’s anywhere in the city selling for $795k? OK Russian Hill GG Bridge view maybe… but views of the east bay? is the Infinity even asking that?
    an 18 minute walk to AT&T Park and the Safeway? i give the hood at least 10 years before i’d even care. they’ve got another 25% more to go before these are at today’s prices… let alone what the bears on this site think

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