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  • The Mark Company Monthly Reports Downtown San Diego

    July 2016

  • Contents

    New Construction Sold Out Pipeline Summary Disclaimer

    Notes 1) New Construction developments are either actively selling for the first time or a rental development that has been converted to for sale and is now actively selling. Most recent closings include the last 10 reported closings that have price and square footage included.

    2) Sold Out developments have completed their original sales process and are now being tracked for resales. Most recent closings include the last 10 reported closings that have price and square footage included. The list may include both new and resale closings as noted.

    3) This report covers new construction developments with 20+ market rate units and selected sold out developments with 50+ market rate units located in downtown San Diego.

    4) Assume that developments in the New Construction section are actively selling units unless noted otherwise. In addition, list prices and number of units available are based on the month of the report and closings are based on what has been recorded to date. Please note that closings can take 30-60 days to be recorded.

    5) Date On Market refers to the date the Sales Center opened. 6) Average Absorption is calculated from Date On Market through the date of the report. It accounts for units both in contract and closed.

    7) Average Price/SF is calculated using only units where both square footage and price are known. Average Price/SF is defined as the average price divided by the average square footage. Averages are weighted averages.

    8) Developments are considered Sold Out once the last Market Rate unit has closed OR there have been three months without a closing, all units are in contract and the Sales Center is closed (e.g. there is no active marketing).

    9) Below Market Rate units are omitted from new construction and resale closings whenever possible.

    Monthly Reports - Downtown San Diego - July 2016

  • New Construction The following section contains sales information and updates for currently selling developments located in downtown San Diego.

    Project List Pacific Gate

    Monthly Reports - Downtown San Diego - July 2016

  • Pacific Gate Located in downtown San Diego’s Marina district, Pacific Gate is destined to be a landmark in San Diego’s evolution. The 41-story building will redefine the skyline and feature iconic waterfront and city views. The residences will feature custom cabinetry, Sub-Zero refrigerators and wine refrigerators, Wolf gas stoves and ovens, Miele dishwashers, Caesarstone countertops and Victoria + Albert freestanding tubs. Finishes are available in three color schemes. Designed in two-bedroom, two-bedroom plus, three-bedroom and three-bedroom plus configurations, the residences are generously-sized between 1,240 square feet and 2,608 square feet.

    Amenities and services include an outdoor pool terrace with poolside cabanas, porter, private boat share, chef concierge, 24-hour attended lobby, private luxury car fleet, controlled access, resident lounge and valet.

    Available homes are priced from $1,052,000 to over $4,000,000.

    Monthly Reports - Downtown San Diego - July 2016

    New Construction

    Addresses 899 West Broadway

    Total Units 216

    Date on Market February 2016

    Closings Commenced TBD

    Developer Bosa Development Corporation

    Average HOA Fees $1,489 - $1,765/month

    Average Absorption 14 units/month

    Projected Price/SF $1,000

    Sales Status

    0 closed 81 in contract 135 available

  • Sold Out The following section contains selected sold out developments located in downtown San Diego.

    Project List* Aria Bayside at the Embarcadero Electra Sapphire Tower Smart Corner The Legend The Mark

    * Sorted in alphabetical order

    Monthly Reports - Downtown San Diego - July 2016

  • Aria Offering panoramic views of Balboa Island and city lights, Aria sits high atop Cortez Hill in downtown San Diego. The one-, two- and three-bedroom homes offer floor-to- ceiling windows, expansive balconies and high-end finishes.

    Community amenities include secured access, a generous fitness center with rooftop pool and spa, screening room, clubroom with catering kitchen and ample parking.

    Monthly Reports - Downtown San Diego - July 2016

    Sold Out

    Address 1441 9th Avenue

    Total Units 137

    Date on Market May 2005

    Closings Commenced February 2008

    Developer Anka Property Group

    Average HOA Fees $500+/month

    Sold Out 2011

    Last Six Months Price/SF $484 (9 units)

    Most Recent Closed Sales

    Unit Type SF Closing

    Price $/SF

    Closed Date

    Sale Type

    304 3/2 1,261 $580,000 $460 6/27/2016 Resale

    203 3/2 1,206 $535,000 $444 6/21/2016 Resale

    803 2/2 1,451 $749,900 $517 6/9/2016 Resale

    805 2/2 1,253 $625,000 $499 6/7/2016 Resale

    305 3/2 1,391 $615,000 $442 5/24/2016 Resale

    502 2/2 1,004 $505,000 $503 5/13/2016 Resale

    1001 2/2 1,235 $640,000 $518 4/19/2016 Resale

    211 2/2 1,253 $605,000 $483 4/1/2016 Resale

    902 2/2 1,251 $619,000 $495 2/8/2016 Resale

    2003 2/2 1,355 $740,000 $546 12/28/2015 Resale

    Averages: 1,266 $621,390 $491

  • Bayside at the Embarcadero Offering luxurious one- and two-bedroom homes along San Diego’s waterfront, Bayside is comprised of 232 spacious condominiums. Bayside combines the mystique and privacy of the City’s waterfront with the convenience and culture of its exciting downtown.

    Finishes include Snaidero cabinetry, Viking and Miele stainless steel appliances, Caesarstone countertops and premium Kohler fixtures. The resort-style community features a beautiful third floor pool, lushly landscaped grounds, a fitness center, game room and private wine storage.

    Monthly Reports - Downtown San Diego - July 2016

    Sold Out

    Address 1325 Pacific Highway

    Total Units 232

    Date on Market February 2007

    Closings Commenced June 2009

    Developer Bosa Development Corporation

    Average HOA Fees $710 - $930/month

    Sold Out 2013

    Last Six Months Price/SF $721 (3 units)

    Most Recent Closed Sales

    Unit Type SF Closing

    Price $/SF

    Closed Date

    Sale Type

    705 2/2 1,196 $746,000 $624 4/15/2016 Resale

    1504 2/2 1,462 $975,000 $667 3/25/2016 Resale

    2001 2/2 1,811 $1,500,000 $828 2/23/2016 Resale

    2302 2/2 1,404 $1,335,000 $951 12/15/2015 Resale

    1004 2/2 1,462 $905,000 $619 10/16/2015 Resale

    402 2/2 1,460 $800,000 $548 8/11/2015 Resale

    2104 2/2 1,462 $1,090,000 $746 7/8/2016 Resale

    2203 2/2 1,460 $1,050,000 $719 6/12/2015 Resale

    311 3/3 2,042 $1,050,000 $514 5/22/2015 Resale

    3501 2/3 1,860 $1,860,000 $1,000 5/12/2015 Resale

    Averages: 1,562 $1,131,100 $724

  • Electra At 43-stories, Electra is downtown San Diego’s tallest residential tower and offers luxury condominiums in a luxury bayside setting. Ranging from 1,000 to 8,370 square feet in size, the spacious two- and three-bedroom floor plans feature stylish and sophisticated finishes to complement their awe-inspiring views.

    Homes feature hardwood and carpet flooring, European- style cabinetry, Kohler fixtures and stainless steel appliances. Residents enjoy a host of generous amenities including gated parking, concierge services, a rooftop pool area with spa and fireplace lounge, outdoor grilling area, fitness center and social lounge.

    Monthly Reports - Downtown San Diego - July 2016

    Sold Out

    Address 700 West E Street

    Total Units 248

    Date on Market March 2005

    Closings Commenced February 2008

    Developer Bosa Development Corporation

    Average HOA Fees $500+/month

    Sold Out 2010

    Last Six Months Price/SF $581 (9 units)

    Most Recent Closed Sales

    Unit Type SF Closing

    Price $/SF

    Closed Date

    Sale Type

    405 2/2 978 $545,000 $557 6/30/2016 Resale

    516 2/1.5 1,505 $630,000 $419 6/15/2016 Resale

    1205 2/2 1,161 $664,900 $573 6/2/2016 Resale

    302 1/1 963 $479,000 $497 5/25/2016 Resale

    806 2/2 1,548 $930,000 $601 4/28/2016 Resale

    1605 2/2 1,161 $667,500 $575 4/25/2016 Resale

    903 2/2 1,370 $710,000 $518 4/13/2016 Resale

    2304 2/2 1,488 $890,000 $598 4/7/2016 Resale

    3302 2/2 1,456 $1,240,000 $852 1/20/2016 Resale

    2503 2/2 1,370 $925,000 $675 11/12/2015 Resale

    Averages: 1,300 $768,140 $591

  • Sapphire Tower At 32 stories tall, Sapphire Tower offers luxury high-rise living by the San Diego Bay waterfront. Featuring one-, two- and three-bedroom homes, along with exclusive penthouses, Sapphire Tower is an elegant retreat in downtown San Diego.

    Homes feature private balconies, European cabinetry, granite countertops and Dacor appliances. The 19 penthouses feature private elevators, Wolf and Sub-Zero appliances and wine storage. Community amenities include a sundeck with pool and spa, fitness center with steam rooms, a clubroom, underground parking and attended lobby.

    Monthly Reports - Downtown San Diego - July 2016

    Sold Out

    Address 1262 Kettner Boulevard

    Total Units 97

    Date on Market August 2005

    Closings Commenced November 2008

    Developers Centurion Real Estate Partners; Avion Development