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SKYBOX REALTY

2016 Annual Report Paul Hwang | Ranked #1 in South Beach bre 01371169 | 415.216.8746 | paul@skyboxrealty.com

Dear Neighbors, Welcome to 2017.

2016 went by quickly and was interestingly diverse. Condos in South Beach & Yerba Buena averaged more days on the market, yet we here at Skybox Realty had another record setting year, selling $100 million+ of real estate, as well as establishing the new record for South Beach for a resale condominium sale at $3031 / Square Foot! New construction sales slowed down and developers made adjustments as absorption rates returned to normal numbers. The new Salesforce Tower has risen up to dominate the skyline, while at ground level, the new Transbay Terminal has taken a tangible shape. The equities market has unexpectedly reacted favorably as we enter the Presidential Transition. At the beginning of 2017 I see buyers returning with more motivation as interest rates have risen. I anticipate a flat to positive outlook for the San Francisco Condo Market going forward, with high correlation to the domestic equities market. Already weâ€™ve noticed an increase in showing requests and more activity at Open Houses in January. The Warriors look good and itâ€™s snowing like crazy in Tahoe. 2017 has been very surprising to me so far, so I must assume that it will continue. Happy New Year!

Best Regards, Paul Hwang | Principal Broker 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 warising out of this document and excludes all liability for loss and damages arising there from.

All Data From SFARMLS

Table of Contents Skybox Realty 2016 Annual Report

FAST FACTS

6-7

THE INFINITY

8 - 11

THE METROPOLITAN

12 - 15

ONE RINCON HILL

16 - 19

MILLENNIUM

20 - 23

ONE HAWTHORNE

24 - 27

WATERMARK

28 - 29

LUMINA

32 - 33

THE HARRISON

34 - 35

72 TOWNSEND

36 - 37

181 FREMONT

38 - 39 All Data From SFARMLS

South Beach Fast Facts

215

$1,243,140

$1193

99.83

# SOLD

AVG SALE PRICE

AVG $/SF

AVG DOM

AVG % SALE/LIST

20% YOY

1.9% YOY

5.8% YOY

31% YOY

3.3% YOY

SOUTH BEACH

AVERAGE PRICE PER SQUARE FOOT $1300 $1200 $1100 $1000 Q1

Yerba Buena Fast Facts

$1,358,879

$1212

97.36

# SOLD

AVG SALE PRICE

AVG $/SF

AVG DOM

AVG % SALE/LIST

22% YOY

4.6% YOY

8.8% YOY

55% YOY

3.5% YOY

YERBA BUENA

AVERAGE PRICE PER SQUARE FOOT $1600 $1400 $1200 $1000 Q1

The Infinity 301 / 333 Main | 318 / 338 Spear

$1,784,260

$1461

97.67

# SOLD

AVG SALE PRICE

AVG $/SF

AVG DOM

AVG % SALE/LIST

22% YOY

3.2% YOY

1.6% YOY

9.5% YOY

1.5% YOY

THE INFINITY

MARKET SEASONALITY $2.2M

10 Sold 9 Sold

$2M

8 Sold

$1.8M

7 Sold 6 Sold 5 Sold

$1.7M

4 Sold 3 Sold

$1.4M

$1.6M

$1.2M

2 Sold

$1M

1 Sold

AVERAGE SALES PRICE

11 Sold

SOLD ACTIVE ACTIVE CONTINGENT PENDING

D37E | $2,700,000 (2BR) $2015/sf D37F | $2,120,000 (2BR) $1313/sf D36C | $5,250,000 (3BR) $3031/sf

B37B | $12,000,000 (3BR) $3548/sf

B32E | $2,875,000 (3BR) $1712/sf

D31B | $3,275,000 (3BR) $2032/sf D30H | $1,799,000 (2BR) $1360/sf D28F | $1,770,000 (2BR) $1343/sf

B27E | $1,700,000 (2BR) $1441/sf B26E | $1,680,000 (2BR) $1424/sf

D21C | $1,525,000 (1BR) $1887/sf

B23B | $1,900,000 (2BR) $1443/sf B22H | $1,775,000 (2BR) $1348/sf B21F | $1,800,000 (2BR) $1377/sf

D17B | $2,600,000 (2BR) $1965/sf

B17B | $2,050,000 (2BR) $1557/sf

B11A | $1,415,000 (2BR) $1217/sf D9C | $925,000 (1BR) $1158/sf D8B | $1,400,000 (2BR) $1057/sf

D5B | $1,470,000 (2BR) $1110/sf A4C | $998,000 (1BR) $1205/sf D3F | $1,095,000 (1BR) $1203/sf

A8G | $934,000 (1BR) $1170/sf

C8E | $749,000 (0BR) $1319/sf C7G | $893,000 (1BR) $1067/sf

B9C | $895,000 (1BR) $1119/sf C7K | $950,000 (1BR) $1146/sf

C5L | $892,500 (1BR) $1059/sf A4K | $949,000 (1BR) $1141/sf C2B | $1,149,000 (1BR) $954/sf

All Data From SFARMLS

THE INFINITY

2016 BUYER DEMOGRAPHIC

THE INFINITY

LISTINGS DAYS ON MARKET

2016 SALE PRICE

CASH BUYER

DIDNâ€™T SELL

UNDER LIST PRICE

LOAN BUYER

SOLD UNDER 45 DAYS

AT LIST PRICE

UNKNOWN

SOLD OVER 45 DAYS

OVER LIST PRICE

THE INFINITY

THE INFINITY SOLDS

3.5

ABSORPTION

DAYS ON THE MARKET 50

2.5

40 30

1.5

20 10

.5 Q1

ABSORPTION = NUMBER OF UNITS SOLD / TIME

Q2 THE INFINITY

SOUTH BEACH

THE INFINITY VS SOUTH BEACH

2016 CONDO PRICE RANGE

1BR

2BR

3BR

$1.5M

$3.5M

$4.5M

$5.5M

Highest Sale Price

75th Percentile

Median Sale Price

SOUTH BEACH 25th Percentile

INFINITY

$2.5M

Lowest Sale Price

$500K

All Data From SFARMLS

The Metropolitan 333 / 355 1st Street

$1,047,214

$1227

99.13

# SOLD

AVG SALE PRICE

AVG $/SF

AVG DOM

AVG % SALE/LIST

4.5% YOY

3.8% YOY

9.9% YOY

27% YOY

2.8% YOY

THE METROPOLITAN

MARKET SEASONALITY $2.2M

10 Sold 9 Sold

$2M

8 Sold

$1.8M

7 Sold 6 Sold 5 Sold

$1.6M

4 Sold 3 Sold

$1.2M

$1.4M

$1M

2 Sold

$800K

1 Sold

AVERAGE SALES PRICE

11 Sold

SOLD ACTIVE ACTIVE CONTINGENT PENDING

S2002 | $1,550,000 (2BR) $1153/sf N1701 | $1,209,000 (2BR) $1262/sf N1602 | $839,000 (1BR) $1177/sf

S1104 | $402,980 (2BR) BMR

N1001 | $1,114,000 (2BR) $1163/sf

S905 | $799,000 (1BR) $1156/sf

N807 | $375,798 (2BR) BMR N706 | $599,000 (0BR) $1184/sf N605 | $825,000 (1BR) $1164/sf

N102 | $748,000 (1BR) $----/sf

S1807 | $1,511,000 (2BR) $1296/sf S1703 | $990,000 (1BR) $1245/sf S1702 | $1,570,000 (2BR) $1346/sf S1503 | $1,124,500 (1BR) $1414/sf

S301 | $745,000 (1BR) $1131/sf S208 | $555,000 (0BR) $1285/sf

S303 | $720,000 (1BR) $1268/sf S204 | $950,000 (2BR) $987/sf

All Data From SFARMLS

THE METROPOLITAN

2016 BUYER DEMOGRAPHIC

THE METROPOLITAN

LISTINGS DAYS ON MARKET

2016 SALE PRICE

CASH BUYER

SOLD UNDER 45 DAYS

UNDER LIST PRICE

LOAN BUYER

SOLD OVER 45 DAYS

AT LIST PRICE

UNKNOWN

DIDNâ€™T SELL

OVER LIST PRICE

THE METROPOLITAN

THE METROPOLITAN SOLDS

3.5

ABSORPTION

DAYS ON THE MARKET 55

2.5

50 45

1.5

40 35

.5 Q1

ABSORPTION = NUMBER OF UNITS SOLD / TIME

Q2 THE INFINITY

SOUTH BEACH

THE METROPOLITAN VS SOUTH BEACH

2016 CONDO PRICE RANGE

1BR

2BR

$1.5M

$3.5M

$4.5M

$5.5M

Highest Sale Price

75th Percentile

Median Sale Price

SOUTH BEACH 25th Percentile

THE METROPOLITAN

$2.5M

Lowest Sale Price

$500K

All Data From SFARMLS

One Rincon Hill 425 1st Street | 489 Harrison

$1,733,888

$1536

97.48

# SOLD

AVG SALE PRICE

AVG $/SF

AVG DOM

AVG % SALE/LIST

28% YOY

9.2% YOY

11% YOY

95% YOY

3% YOY

ONE RINCON HILL

MARKET SEASONALITY $2.2M

10 Sold 9 Sold

$2M

8 Sold

$1.8M

7 Sold 6 Sold 5 Sold

$1.7M

4 Sold 3 Sold

$1.4M

$1.6M

$1.2M

2 Sold

$1M

1 Sold

AVERAGE SALES PRICE

11 Sold

SOLD ACTIVE ACTIVE CONTINGENT

6003 | $3,700,000 (3BR) $2206/sf

PENDING

4504 | $800,000 (1BR) $1322/sf 4402 | $2,200,000 (2BR) $1681/sf 4202 | $2,399,999 (2BR) $1833/sf

3408 | $1,204,000 (1BR) $1595/sf 3206 | $1,800,000 (2BR) $1454/sf

2708 | $1,135,000 (1BR) $1503/sf 2507 | $1,190,000 (1BR) $1453/sf

1902 | $2,190,000 (2BR) $1673/sf

1903 | $1,585,000 (2BR) $1240/sf

1607 | $1,098,000 (1BR) $1341/sf

All Data From SFARMLS

ONE RINCON HILL

2016 BUYER DEMOGRAPHIC

ONE RINCON HILL

LISTINGS DAYS ON MARKET

2016 SALE PRICE

LOAN BUYER

SOLD OVER 45 DAYS

UNDER LIST PRICE

CASH BUYER

SOLD UNDER 45 DAYS

AT LIST PRICE

UNKNOWN

DIDNâ€™T SELL

OVER LIST PRICE

ONE RINCON HILL

3.5

120

ABSORPTION

DAYS ON THE MARKET 100

2.5

80 60

1.5

40 20

.5 Q1

ABSORPTION = NUMBER OF UNITS SOLD / TIME

Q2 THE INFINITY

SOUTH BEACH

ONE RINCON HILL VS SOUTH BEACH

2016 CONDO PRICE RANGE

1BR

2BR

$1.5M

$3.5M

$4.5M

$5.5M

Highest Sale Price

75th Percentile

Median Sale Price

SOUTH BEACH 25th Percentile

ONE RINCON HILL

$2.5M

Lowest Sale Price

$500K

All Data From SFARMLS

Millennium 301 Mission

$2,785,833

$1543

108

92.81

# SOLD

AVG SALE PRICE

AVG $/SF

AVG DOM

AVG % SALE/LIST

11% YOY

86% YOY

20% YOY

5.9% YOY

4.1% YOY

* Does Not Include Data for the Grand Penthouse Sale *

MILLENNIUM

MARKET SEASONALITY $3.1M

10 Sold 9 Sold

$2.8M

8 Sold

$2.5M

7 Sold 6 Sold 5 Sold

$2.2M

4 Sold 3 Sold

$1.6M

$1.9M

$1.3M

2 Sold

$1M

1 Sold

AVERAGE SALES PRICE

11 Sold

SOLD ACTIVE ACTIVE CONTINGENT PENDING

GPHA | $13,000,000 (2BR) PHA | $8,995,000 (2BR) $3324/sf

49B | $8,000,000 (3BR) $2413/sf

45D | $3,900,000 (2BR) $1900/sf

41E | $2,710,000 (2BR) $1581/sf 38B | $2,700,000 (2BR) $1634/sf

33C | $3,500,000 (3BR) $1613/sf 31E | $2,300,000 (2BR) $1865/sf

24H | $1,125,000 (2BR) $1455/sf

18E | $1,545,000 (2BR) $1407/sf

14C | $1,080,000 (1BR) $1297/sf

704 | $2,100,000 (2BR) $1414/sf 606 | $1,900,000 (1BR) $1164/sf 601 | $2,600,000 (2BR) $1330/sf

7C | $1,050,000 (1BR) $1261/sf 4E | $1,299,000 (2BR) $1143/sf

All Data From SFARMLS

MILLENNIUM

2016 BUYER DEMOGRAPHIC

MILLENNIUM

LISTINGS DAYS ON MARKET

2016 SALE PRICE

CASH BUYER

DIDNâ€™T SELL

UNDER LIST PRICE

LOAN BUYER

SOLD OVER 45 DAYS

AT LIST PRICE

UNKNOWN

SOLD UNDER 45 DAYS

OVER LIST PRICE

ONE RINCON HILL

3.5

150

ABSORPTION

DAYS ON THE MARKET 125

2.5

100 75

1.5

50 25

.5 Q1

ABSORPTION = NUMBER OF UNITS SOLD / TIME

Q2 THE INFINITY

SOUTH BEACH

MILLENNIUM VS SOUTH BEACH

2016 CONDO PRICE RANGE

1BR

2BR

$1.5M

$3.5M

$4.5M

$5.5M

Highest Sale Price

75th Percentile

Median Sale Price

SOUTH BEACH 25th Percentile

MILLENNIUM

$2.5M

Lowest Sale Price

$500K

All Data From SFARMLS

One Hawthorne 1 Hawthorne

$1,768,571

$1286

108

97.18

# SOLD

AVG SALE PRICE

AVG $/SF

AVG DOM

AVG % SALE/LIST

---- YOY

.63% YOY

18% YOY

163% YOY

3.1% YOY

ONE HAWTHORNE

MARKET SEASONALITY $3.5M

10 Sold 9 Sold

$3M

8 Sold

$2.5M

7 Sold 6 Sold 5 Sold

$2M

4 Sold 3 Sold

$1M

$1.5M

$500K

2 Sold

1 Sold

AVERAGE SALES PRICE

11 Sold

SOLD ACTIVE ACTIVE CONTINGENT PENDING

25D | $3,250,000 (2BR) $1662/sf

25C | $3,000,000 (3BR) $1504/sf

12E | $1,650,000 (2BR) $1327/sf 11C | $1,650,000 (2BR) $1249/sf

14D | $925,000 (1BR) $1095/sf 12A | $1,049,000 (1BR) $1154/sf 11A | $1,025,000 (1BR) $1120/sf

6C | $899,000 (1BR) $1056/sf

2C | $880,000 (1BR) $1048/sf All Data From SFARMLS

ONE HAWTHORNE

2016 BUYER DEMOGRAPHIC

ONE HAWTHORNE

LISTINGS DAYS ON MARKET

2016 SALE PRICE

CASH BUYER

DIDNâ€™T SELL

UNDER LIST PRICE

UNKNOWN

SOLD OVER 45 DAYS

AT LIST PRICE

SOLD UNDER 45 DAYS

OVER LIST PRICE

ONE HAWTHORNE

ONE HAWTHORNE SOLDS

3.5

150

ABSORPTION

DAYS ON THE MARKET 125

2.5

100 75

1.5

50 25

.5 Q1

ABSORPTION = NUMBER OF UNITS SOLD / TIME

Q2 THE INFINITY

SOUTH BEACH

ONE HAWTHORNE VS SOUTH BEACH

2016 CONDO PRICE RANGE

1BR

2BR

$1.5M

$3.5M

$4.5M

$5.5M

Highest Sale Price

75th Percentile

Median Sale Price

SOUTH BEACH 25th Percentile

ONE HAWTHORNE

$2.5M

Lowest Sale Price

$500K

All Data From SFARMLS

Watermark 501 Beale

$1,075,000

$1083

103.83

# SOLD

AVG SALE PRICE

AVG $/SF

AVG DOM

AVG % SALE/LIST

14% YOY

54% YOY

66% YOY

21% YOY

1.5% YOY

* Does Not Include Data for the Grand Penthouse Sale *

WATERMARK

MARKET SEASONALITY $1.6M

10 Sold 9 Sold

$1.5M

8 Sold

$1.4M

7 Sold 6 Sold 5 Sold

$1.3M

4 Sold 3 Sold

$1.1M

$1.2M

$1M

2 Sold

$800K

1 Sold

AVERAGE SALES PRICE

11 Sold

SOLD ACTIVE ACTIVE CONTINGENT PENDING

16E | $875,000 (1BR) $1153/sf

4A | $1,299,000 (2BR) $1120/sf

4C | $1,275,000 (2BR) $1013/sf

All Data From SFARMLS

New Construction SOUTH BEACH & YERBA BUENA

All Data From SFARMLS

Lumina 318 / 338 Main | 333 Beale | 201 Folsom

656

475+

$895K+

$1.35M+

$3.365M+

# UNITS

# SOLD / IN CONTRACT

1BR LIST PRICE

2BR LIST PRICE

3BR LIST PRICE

SOLD ACTIVE ACTIVE CONTINGENT PENDING

D36A | $8,895,000 (3BR)

D25A | $2,460,000 (2BR) D23C | $3,200,000 (2BR)

D19F | $1,777,664 (2BR)

B18D | $1,250,000 (1BR) B16C | $2,125,000 (2BR)

D15B | $1,950,000 (2BR)

B12D | $1,180,000 (1BR)

B8F | $1,395,000 (2BR)

B4C | $1,515,000 (2BR) B4B | $1,415,000 (2BR) C2B | $1,245,000 (1BR) B1A | $1,095,000 (1BR)

C8C | $1,250,000 (1BR) C7A | $1,095,000 (1BR)

B4D | $1,060,000 (1BR) C2C | $1,095,000 (1BR)

A7K | $1,978,000 (2BR)

D7A | $1,650,000 (2BR)

A5K | $1,895,000 (2BR) D3D | $885,000 (1BR)

All Data From SFARMLS

The Harrison 401 Harrison

298

44+

$786K+

$1.25M+

$3.75M+

# UNITS

# SOLD / IN CONTRACT

1BR LIST PRICE

2BR LIST PRICE

3BR LIST PRICE

SOLD ACTIVE ACTIVE CONTINGENT PENDING

18D | $1,840,000 (2BR) $1419/sf 16F | $1,800,000 (2BR) $1452/sf

11H | $1,326,000 (1BR) $1274/sf

7F | $1,326,000 (2BR) $1069/sf 6F | $1,250,000 (2BR) $1008/sf 5B | $767,000 (1BR) $1031/sf

7A | 1,259,000 (2BR) $897/sf 6B | 774,000 (1BR) $1040/sf 5F | $1,176,000 (2BR) $948/sf 4C | $1,273,000 (2BR) $988/sf

All Data From SFARMLS

72 Townsend 72 Townsend

51+

$955K+

$1.4M+

$3.5M+

# UNITS

# SOLD / IN CONTRACT

1BR LIST PRICE

2BR LIST PRICE

3BR LIST PRICE

SOLD ACTIVE ACTIVE CONTINGENT PENDING

PH2 | $4,064,798 (3BR) $2361/sf 807 | $1,975,000 (2BR) $1620/sf

805 | $1,490,000 (1BR) $2317/sf

706 | $1,880,000 (2BR) $1725/sf

701 | $1,050,000 (1BR) $1332/sf

703 | $1,075,000 (1BR) $1369/sf

707 | $1,100,999 (1BR) $1293/sf

609 | $1,420,000 (2BR) $1250/sf

605 | $970,000 (1BR) $----/sf

607 | $1,045,000 (1BR) $1228/sf

606 | $1,770,000 (2BR) $1624/sf

507 | $1,091,660 (1BR) $1283/sf

509 | $1,329,000 (2BR) $1170/sf

501 | $1,071,944 (1BR) $1360/sf

504 | $1,565,000 (2BR) $1242/sf

404 | $1,420,000 (2BR) $1227/sf

402 | $1,554,679 (2BR) $1206/sf

406 | $1,476,433 (2BR) $1255/sf

408 | $1,240,683 (1BR) $1235/sf

302 | $1,449,000 (2BR) $1210/sf

301 | $999,000 (1BR) $----/sf

306 | $1,350,000 (2BR) $1444/sf

312 | $1,240,000 (1BR) $1378/sf

All Data From SFARMLS

181 Fremont 181 Fremont

12+

2.4 Units

$3M+

$6.5M+

# UNITS

# SOLD / IN CONTRACT

AVG ABSORPTION

2BR LIST PRICE

3BR LIST PRICE

SOLD ACTIVE ACTIVE CONTINGENT PENDING

66A | $8,500,000 (3BR) $3536/sf

60C | $3,245,000 (2BR) $2571/sf

55C | $3,580,000 (1BR) $2231/sf

All Data From SFARMLS

PAUL HWANG

RANKED #1 IN SOUTH BEACH

bre 01371169 | 415.216.8746 paul@skyboxrealty.com

流利國語