One Hawthorne: 6/22/09 (
An inquiry from a reader:

Has One Hawthorne topped off, and if not, how many more floors are left to build? I am trying to figure out how much it will change my view…

Our answer: As far as we know it goes no higher as the final floor should have been poured on Friday and the 24 stories topped off.
Once again, 165 units with pricing expected to range from $500,000 for a 550 square foot junior one-bedroom to $3 million for a 2,200 square foot penthouse. Or at least that was the plan in early 2008. And the rendering:
One Hawthorne: Rendering
One Hawthorne: An Early Rendering To Reality Check(s) [SocketSite]
One Hawthorne: The Design (And Some Details) Of What’s On The Way [SocketSite]

12 thoughts on “One Hawthorne: It Goes No Higher”
  1. I wonder what the projections are for that 550 sf studio (AKA “jr. one bedroom). Any guesses as to the final price/rent for this unit?
    Any sense of what this will do to the units about to come on the market at 199 in foreclosure/short sale? Blü?
    This much inventory seems like the straw that will break the camel’s back of SOMA condos.

  2. Embarcadero-
    I have to wonder the same thing. I have been paying pretty close attention to the market there, as I have been looking to buy. Do we know when these new units will be hitting the market? (Sorry I know nothing about the timeframe of development.) If they have just topped the puppy off, when should one expect the sales office to open?

  3. Top out to TCO (Temporary Certificate of Occupancy) generally takes 11-12 months for this size/type of structure. Who is the developer? I would imagine they drag their feet as much as possible in hopes of some price stabilization in SOMA condo market.

  4. Thanx jd
    This, of course leads me to more questions:
    How did Jackson Pacific make out on it’s other 2 entitled lots (45 Lansing & 340 Freemont) which were bailed on by Fifield and Turnberry?
    Are these the real costs for this building? If my calculator is functioning correctly $150M / 165 Units = $909,000 per. That’s a big nut to crack.
    Does anyone else think it’s of interest that the only tower crane in town is on a project funded by Union pension funds?

  5. It’s so much easier on SS to get answers to your questions by making mis-statements rather than by actually asking questions. If I had asked what other tower cranes were still up in town no one would have responded.

  6. Does anyone else think it’s of interest that the only tower crane in town is on a project funded by Union pension funds?
    It is certainly of interest in light of the fact that this building started construction well after the condo real estate bubble had burst.

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