2023 Q3 / South Beach & Yerba Buena Condo Report

Dear Neighbors,

Q3 sales slowed by 19% for the South Beach condominium market after a promising Q2. The past 12 months overall have been excruciating slow with the average sales price in South Beach declining by 13% quarter over quarter.

Prime properties sold at discounted prices and the low end of the market secured buyers. The middle segment only moved at extremely discounted valuations. The continued bad press regarding crime and the layoffs in technology dampered demand. Commercial vacancy rates are at a startling 34% with mortgage rates at 20+ year highs. Perhaps the Fed’s extreme increase of interest rates in a short period of time is so that they can lower them prior to next year’s elections to stimulate the equities markets?

A new Ikea with a Michelin star chef opened on Market Street. Artificial Intelligence companies seem to be taking roots in San Francisco. If San Francisco is anything, it is dynamic and resilient. Rents continue to hold up well and we are still the most beautiful city in the US. I have no doubts that better days are ahead for the City. I look forward to being of service to you.

Best Regards, Paul Hwang, Ranked #1 in South Beach | 415.216.8746

This document has been prepared by Skybox Realty for advertising and general information only. Skybox Realty makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Skybox Realty excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from.

South Beach & Yerba Buena Q3 Snapshot

South Beach 2023 Q3

* Does not include new construction.

# of Transactions

8.7% YOY / 19% QOQ

42 Average Price per Square Foot

15% YOY / 13% QOQ

* Median Price $1,172,000

$1,104

9.3% YOY / .5% QOQ

Average Sales Price $1,277,893 Average Days on the Market

66

20% YOY / 4.5% QOQ

Transactions

# of * Median Price $850,000

13 Average Price per Square Foot $986

Historical Data

* Includes new construction marketed on MLS.

The Infinity

D26E | $1,645,000 (2BR) $1418/sf

D22A | $1,330,000 (2BR) $1140/sf

D3C | $820,000 (1BR) $1026/sf

A8E | $860,000 (1BR) $1067/sf

A6K | $900,000 (1BR) $1082/sf

B31F | $1,510,000 (2BR) $1141/sf

B29B | $2,850,000 (3BR) $1748/sf

B28E | $2,495,000 (3BR) $1414/sf

B21F | $1,399,000 (2BR) $1070/sf

B17E | $1,250,000 (2BR) $1059/sf

C6F | $830,000 (1BR) $1004/sf

C6E | $1,698,888 (2BR) $1244/sf

B3B | $1,500,000 (2BR) $823/sf

The Infinity

Lumina

D34C | $2,600,000 (2BR) $1744/sf

D34A | $2,527,000 (2BR) $1608/sf

D30A | $2,850,000 (2BR) $1813/sf

D22F | $1,575,000 (1BR) $1334/sf

D22G | $1,880,000 (2BR) $1342/sf

D10D | $989,000 (1BR) $1133/sf

C8F | $875,850 (1BR) $1076/sf

D5F | $1,369,000 (2BR) $1159/sf

D4G | $1,700,000 (2BR) $1213/sf

The Harrison

* Indicates Remaining Developer Inventory

35C | $2,298,000 (2BR) $1723/sf

31A | $1,075,000 (1BR) $1280/sf

28A | $998,000 (1BR) $1188/sf

23E | $1,899,000 (2BR) $1530/sf

19C | $1,699,000 (2BR) $1274/sf

18F | $1,245,000 (1BR) $1500/sf

15B | $1,569,000 (2BR) $1196/sf

11E | $860,000 (1BR) $1216/sf

10D | $849,000 (1BR) $1399/sf

The Harrison Resales

One Rincon Hill

5802 | $2,998,000 (2BR) $1965/sf

5303 | $2,399,000 (2BR) $1244/sf

4706 | $1,998,000 (2BR) $1614/sf

4306 | $1,795,000 (2BR) $1450/sf

3408 | $1,178,000 (1BR) $1560/sf

3304 | $735,000 (1BR) $1215/sf

2708 | $1,198,000 (1BR) $1587/sf

2607 | $1,195,000 (1BR) $1459/sf

906 | $1,395,000 (2BR) $1127/sf

802 | $1,150,000 (2BR) $879sf

407 | $905,500 (1BR) $1006/sf

One Rincon Hill

The Metropolitan

N1401 | $1,100,000 (2BR) $1148/sf

The Metropolitan

PH2B | $1,588,000 (2BR) $1558/sf 11A | $1,695,000 (2BR) $1461/sf

9A | $1,415,000 (2BR) $1106/sf

One Hawthorne

One Hawthorne

The Brannan

18D | $2,875,000 (3BR) $1434/sf

8B | $699,000 (1BR) $951/sf

3E | $575,000 (3BR) $1208/sf

12J | $1,545,000 (2BR) $1094/sf

9G | $1,645,000 (2BR) $1084/sf

16C | $1,698,000 (2BR) $1285/sf

15G | $1,825,000 (2BR) $1178/sf

10G | $1,795,000 (2BR) $1184/sf

The Brannan

GPA | $14,000,000 (2BR) $2795/sf

| $3,850,000 (2BR) $1423/sf

| $2,249,000 (2BR) $1404/sf

40E | $1,995,000 (2BR) $1164/sf 54C | $4,000,000 (2BR) $1419/sf

37C

30E

27B

22C

20H

18E

9C

55A | $4,995,000 (2BR) $1846/sf 8J | $1,080,000 (2BR) $895/sf

620 | $1,100,000 (2BR) $1016/sf

905 | $615,000 (1BR) $1131/sf

219 | $475,000 (1BR) $958/sf

The Towers

124 | $1,169,000 (2BR) $858/sf

604 | $1,195,000 (2BR) $1044/sf

318 | $1,188,000 (2BR) $1065/sf

The Towers

200 Brannan

245 | $1,375,000 (1BR) $903/sf

2023 Q3 Sales

* Only showing sold homes in buildings featured in this book. Does not include new construction or bmrs.

2023 Q3 Sales cont...

201 Harrison 310 400 Beale 2205 301 Mission 5G 72 Townsend 408 400 Beale 1303 403 Main 620N 88 King 124 88 King 125 88 King 112 200 Brannan 245 72 Townsend 606 301 Mission 37C 301 Mission 54C

* Only showing sold homes in buildings featured in this book. Does not include new construction or bmrs.

Architect Heller Manus

# of Units 67 Monthly Absorption .8 Unit

# in Contract / Sold 50+

68B | $15,500,000 (2BR) $4760sf

64D | $3,474,000 (2BR) $2202/sf

62B | $6,730,000 (3BR) $2974/sf

57C | $3,200,000 (2BR) $1994/sf

54H | $950,000 (1BR) $1525/sf

The Avery

in Contract / Sold 66+

of Units 118 Monthly Absorption 1.1 Units

One Steuart Lane Architect SOM

# of Units 120

# of Stories 20

# Sold 41+