2018 Condo Report | South Beach | Presented by Pablo Cela

2018 Condo Report South Beach Pablo Cela | Ranked #1 at The Harrison

© Skybox Realty Inc, 2019

Pablo Cela is Ranked #1 at The Harrison

Hello 2019, As we thawed out of January 2018, South Beach condo pricing and the pace of sales accelerated into the summer in congruence with equity markets. Year-over-year condo data (2017 vs 2018) was universally up. Emerging markets began to crumble over the summer. The domestic stock market followed by being unkind to investors in Q4, as all of the years gains were erased. Indeed, 2018 was the worst for stocks in 10 years! Despite stock market volatility, winter seasonality, rising interest rates, and negative sentiment, South Beach condo activity remained constant in Q4 (Q2 76 Sold at $1,205/ sf, Q3 76 Sold at $1,236/sf, Q4 76 Sold at $1,227/sf). Facebook, Salesforce, etc. leased millions of square feet of office space in the Transbay Transit neighborhood abutting South Beach.

Upon Closer inspection of the positive aggregate data, a clear divergence can be seen between the higher and lower ends of the property spectrum. Properties priced $2M+ remained on the market for far longer than their lower priced counterparts.

The Avery and Mira started selling and The Harrison continues to sell with roughly 70% units sold. Most of the developerowned inventory at The Harrison is on the top 1/3 of the building with remaining 1 bedrooms priced from $1.1M - $1.5M & 2 bedrooms priced from $1.8M - $3.7M and 3 bedrooms from $4M - $8M. There is significant buyer demand for 1 bedroom resale units on the lower 1/3 of the building.

Most of my friends in finance view all asset classes as fully valued and are predicting some unpleasantries for 2019.

Some have even moved to Texas for the favorable tax climate. I would disagree with them, as I still see a super heated hyper local economy with South Beach being the epicenter. Unemployment in the Bay Area is at record lows, income is at record highs and people need a place to live. Of course, the data is constantly changing, but I believe the population will continue to grow and income will continue to rise in The Bay Area, specifically in San Francisco. Looking forward to being at your service in 2019!

Best Regards, Pablo Cela | Ranked #1 at The Harrison 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.

3

Skybox Realty 2018 Annual Report

South Beach 2018 Snapshot

# of Transactions

Average Sales Price

282

$1,366,970

25% YOY Avg $/SF

11% YOY

$1,220 6.6% YOY

Average Days on the Market

39

19% YOY

Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com

All Data From SFARMLS

Pablo Cela is Ranked #1 at The Harrison

Table of Contents

The Harrison Resales

6-9

One Rincon Hill

10 - 13

Portside

14 - 17

Baycrest

18 - 21

Bridgeview

22 - 25

Q4 Sales

26 - 27

The Harrison Developer Sales

28 - 29

New Construction

30 - 33

Who You Work With Matters

34 - 35 5

Skybox Realty 2018 Annual Report

The Harrison Resales

# Sold

401 Harrison

7

Average $/SF

Average Sales Price

Average DOM

$1,252 $1,334,143 76

First Resales

First Resales

First Resales

First Resales

Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com

All Data From SFARMLS

Pablo Cela is Ranked #1 at The Harrison

* Only showing resales. For developer sales go to page 29.

38E | $2,550,000 (2BR) $----/sf

28E | $2,558,000 (2BR) $2085/sf

24F | $1,379,000 (1BR) $1661/sf

24B | $1,725,000 (2BR) $1316/sf

19F | $1,230,000 (1BR) $1482/sf

12A | $1,030,000 (1BR) $1226/sf 9B | $1,595,000 (2BR) $1216/sf 8F | $1,549,000 (2BR) $1249/sf 6G | $979,000 (1BR) $1222/sf 4A | $1,005,000 (1BR) $914/sf

SOLD

4D | $820,000 (1BR) $1353/sf

ACTIVE

I N C O NT R A C T

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Skybox Realty 2018 Annual Report

The Harrison Resales AVG $1,288/SF

Q4

AVG $1,207/SF

Q3

AVG $1,316/SF

Q2 Q1

No Sales in Q1

2018 Buyer Demographic

Listings Days on Market

2018 Sale Price

C A S H B U YE R

D I D N ’T S ELL

UNDE R L IST PRICE

L O A N B U YE R

S O LD UN D ER 45

AT L IST

U N KN O W N

S O LD O V ER 45 D A YS

OVE R L IST PRICE

Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com

All Data From SFARMLS

Pablo Cela is Ranked #1 at The Harrison

2018 $/SF Distribution

$ 6 7 8 / SF

$869/SF

S TA N D A RD D EV I A TI O N = $191.42

$1061/SF

$1252/S F

2018 Average Days on the Market

$1443/S F

$1635/S F

THE HA RRI S O N

$1826/S F

S O UTH B EA CH

150 125 100 75 50 25

Q1

© Skybox Realty Inc, 2019

Q2

Q3

Q4

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Skybox Realty 2018 Annual Report

One Rincon Hill

# Sold

19 27% YOY

Average $/SF

425 1st, 489 Harrison

Average Sales Price

Average DOM

$1,416 $1,547,842 66 .28% YOY

6.7% YOY

Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com

13% YOY

All Data From SFARMLS

Pablo Cela is Ranked #1 at The Harrison

6001 | $3,800,000 (2BR) $2318/sf

5204 | $3,700,000 (3BR) $1900/sf 4908 | $1,280,000 (1BR) $1695/sf

4905 | $995,000 (1BR) $1401/sf

4504 | $865,000 (1BR) $1430/sf

4603 | $1,850,000 (2BR) $1448/sf 4506 | $1,700,000 (2BR) $1373/sf 4404 | $830,000 (1BR) $1372/sf 4206 | $1,899,000 (2BR) $1534/sf 4101 | $1,245,000 (1BR) $1487/sf

3905 | $890,000 (1BR) $1254/sf

3802 | $2,005,000 (2BR) $1532/sf

3102 | $2,300,000 (2BR) $1587/sf 2902 | $2,645,000 (3BR) $1342/sf 2705 | $865,000 (1BR) $1218/sf 2504 | $860,000 (1BR) $1421/sf 2302 | $1,760,000 (2BR) $1345/sf

1305 | $840,000 (1BR) $1183/sf 1106 | $1,499,000 (2BR) $1211/sf

805 | $860,000 (1BR) $1211/sf 306 | $2,030,000 (2BR) $1177/sf

SOLD

ACTIVE

I N C O NT R A C T

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Skybox Realty 2018 Annual Report

One Rincon Hill AVG $1,496/SF

Q4

AVG $1,263/SF

Q3

AVG $1,449/SF

Q2

AVG $1,412/SF

Q1

2018 Buyer Demographic

Listings Days on Market

2018 Sale Price

C A S H B U YE R

D I D N ’T S ELL

UNDE R L IST PRICE

L O A N B U YE R

S O LD UN D ER 45

AT L IST

U N KN O W N

S O LD O V ER 45 D A YS

OVE R L IST PRICE

Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com

All Data From SFARMLS

Pablo Cela is Ranked #1 at The Harrison

2018 $/SF Distribution

8 6 4 / SF

$1048/SF

S TA N D A RD D EV I A TI O N = $183.91

$1232/SF

$1416/S F

2018 Average Days on the Market

$1600/S F

$1784/S F

O N E RI N CO N HI LL

$1968/S F

S O UTH B EA CH

80 70 60 50 40 30

Q1

© Skybox Realty Inc, 2019

Q2

Q3

Q4

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Skybox Realty 2018 Annual Report

Portside

# Sold

12 ----% YOY

Average $/SF

403 Main, 38 Bryant

Average Sales Price

Average DOM

$1,203 $1,046,315 47 9.1% YOY

4% YOY

Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com

4.4% YOY

All Data From SFARMLS

Pablo Cela is Ranked #1 at The Harrison

803 | $1,650,000 (3BR) $1213/sf 720 | $1,440,000 (2BR) $1330/sf 605 | $580,000 (1BR) $1176/sf

703 | $1,699,900 (3BR) $1250/sf

410 | $981,950 (1BR) $1044/sf 316 | $950,000 (1BR) $1102/sf

501 | $1,318,888 (2BR) $1243/sf 411 | $1,385,000 (2BR) $1157/sf 308 | $710,000 (1BR) $1317/sf

112 | $1,150,000 (2BR) $1051/sf

114 | $675,000 (1BR) $1427/sf

806 | $750,000 (0BR) $1289/sf 709 | $988,888 (1BR) $1111/sf

SOLD

ACTIVE

I N C O NT R A C T

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Skybox Realty 2018 Annual Report

Portside AVG $1,154/SF

Q4

AVG $1,270/SF

Q3

AVG $1,128/SF

Q2

AVG $1,266/SF

Q1

2018 Buyer Demographic

Listings Days on Market

2018 Sale Price

C A S H B U YE R

D I D N ’T S ELL

UNDE R L IST PRICE

L O A N B U YE R

S O LD UN D ER 45

AT L IST

U N KN O W N

S O LD O V ER 45 D A YS

OVE R L IST PRICE

Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com

All Data From SFARMLS

Pablo Cela is Ranked #1 at The Harrison

2018 $/SF Distribution

$ 8 4 3 / SF

$963/SF

S TA N D A RD D EV I A TI O N = $119.92

$1083/SF

$1203/S F

2018 Average Days on the Market

$1323/S F

$1443/S F

P O RTS I D E

$1563/S F

S O UTH B EA CH

70 60 50 40 30 20

Q1

© Skybox Realty Inc, 2019

Q2

Q3

Q4

17

Skybox Realty 2018 Annual Report

Baycrest

# Sold

16 14% YOY

Average $/SF

201 Harrison

Average Sales Price

$1,242 $729,688 8.5% YOY

5.2% YOY

Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com

Average DOM

27

56% YOY

All Data From SFARMLS

Pablo Cela is Ranked #1 at The Harrison

1129 | $661,000 (0BR) $1530/sf

801 | $560,000 (0BR) $1296/sf 731 | $840,000 (2BR) $1141/sf 613 | $915,000 (2BR) $1243/sf 502 | $565,000 (0BR) $1308/sf 412 | $549,000 (0BR) $1286/sf

720 | $885,000 (2BR) $1110/sf

910 | $900,000 (1BR) $1362/sf 803 | $1,001,000 (2BR) $972/sf 705 | $765,000 (1BR) $1406/sf 608 | $625,000 (1BR) $1263/sf 504 | $819,000 (1BR) $1030/sf 510 | $875,000 (2BR) $1098/sf 318 | $565,000 (0BR) $1345/sf 108| $465,000 (0BR) $1340/sf

113 | $685,000 (1BR) $1041/sf

SOLD

ACTIVE

I N C O NT R A C T

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Skybox Realty 2018 Annual Report

Baycrest AVG $1,280/SF

Q4

AVG $1,212/SF

Q3

AVG $1,255/SF

Q2

AVG $1,183/SF

Q1

2018 Buyer Demographic

Listings Days on Market

2018 Sale Price

C A S H B U YE R

D I D N ’T S ELL

UNDE R L IST PRICE

L O A N B U YE R

S O LD UN D ER 45

AT L IST

U N KN O W N

S O LD O V ER 45 D A YS

OVE R L IST PRICE

Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com

All Data From SFARMLS

Pablo Cela is Ranked #1 at The Harrison

2018 $/SF Distribution

$ 7 6 7 / SF

$926/SF

S TA N D A RD D EV I A TI O N = $158.23

$1084/SF

$1242/S F

2018 Average Days on the Market

$1400/S F

$1558/S F

B A YCRES T

$1717/S F

S O UTH B EA CH

70 60 50 40 30 20

Q1

© Skybox Realty Inc, 2019

Q2

Q3

Q4

21

Skybox Realty 2018 Annual Report

Bridgeview

# Sold

10 67% YOY

Average $/SF

400 Beale

Average Sales Price

Average DOM

$1,173 $1,022,222 15 12% YOY

16% YOY

Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com

29% YOY

All Data From SFARMLS

Pablo Cela is Ranked #1 at The Harrison

2403 | $1,650,000 (2BR) $1536/sf

1412 | $1,155,000 (2BR) $1074/sf 1301 | $1,250,000 (2BR) $1022/sf 1102 | $870,000 (1BR) $1289/sf 1013 | $985,000 (1BR) $1153/sf

1210 | $780,000 (1BR) $1166/sf 1109 | $855,000 (1BR) $1179/sf 1008 | $740,000 (1BR) $1066/sf

701 | $401,510 (2BR) bmr

711 | $1,075,000 (2BR) $1086/sf 509 | $825,000 (1BR) $1138/sf 305 | $383,339 (1BR) bmr

SOLD

ACTIVE

I N C O NT R A C T

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Skybox Realty 2018 Annual Report

Bridgeview AVG $1,102/SF

Q4

AVG $1,273/SF

Q3

AVG $1,087/SF

Q2 Q1

No Sales in Q1

2018 Buyer Demographic

Listings Days on Market

2018 Sale Price

C A S H B U YE R

D I D N ’T S ELL

UNDE R L IST PRICE

L O A N B U YE R

S O LD UN D ER 45

AT L IST

U N KN O W N

S O LD O V ER 45 D A YS

OVE R L IST PRICE

Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com

All Data From SFARMLS

Pablo Cela is Ranked #1 at The Harrison

2018 $/SF Distribution

$ 7 0 1 / SF

$858/SF

S TA N D A RD D EV I A TI O N = $157.41

$1016/SF

$1173/S F

2018 Average Days on the Market

$1300/S F

$1488/S F

B RI D GEV I EW

$1645/S F

S O UTH B EA CH

70 60 50 40 30 20

Q1

© Skybox Realty Inc, 2019

Q2

Q3

Q4

25

Skybox Realty 2018 Annual Report

2018 Q4 Sales * Only showing sold homes in buildings featured in this book. Does not include new construction.

Address

BR / BA

SQFT

Sale Price

$/SF

% Sale/List

400 Beale 305

1/1

827

$383,339

bmr

100.00

201 Harrison 801

0/1

432

$560,000

$1,296.30

106.67

201 Harrison 318

0/1

420

$565,000

$1,345.24

107.62

403 Main 308N

1/1

539

$710,000

$1,317.25

97.93

400 Beale 1008

1/1

694

$740,000

$1,066.28

98.80

201 Harrison 705

1/1

544

$765,000

$1,406.25

110.07

201 Harrison 504

1 /1

795

$819,000

$1,030.19

100.00

401 Harrison 4D

1/1

606

$820,000

$1,353.14

98.91

400 Beale 509

1/1

725

$825,000

$1,137.93

103.25

201 Harrison 731

2/2

----

$840,000

----

107.01

425 1st 4504

1/1

605

$865,000

$1,429.75

98.86

201 Harrison 910

1/1

661

$900,000

$1,361.57

112.64

201 Harrison 613

2/2

736

$915,000

$1,243.21

114.52

Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com

All Data From SFARMLS

Pablo Cela is Ranked #1 at The Harrison

Address

BR / BA

SQFT

Sale Price

$/SF

% Sale/List

403 Main 316N

1/1

862

$950,000

$1,102.09

105.79

403 Main 410N

1/1

941

$958,000

$1,018.07

96.28

401 Harrison 6G

1/1

801

$979,000

$1,222.22

100.00

425 1st 4101

1/1

837

$1,245,000

$1,487.46

100.00

425 1st 4908

1/1

755

$1,280,000

$1,695.36

97.34

425 1st 4506

2/2

1,238

$1,700,000

$1,373.18

97.14

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Skybox Realty 2018 Annual Report

The Harrison Developer Sales

Interior Design

# of Condos

Ken Fulk 298

# in Contract

205+

Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com

401 Harrison

Monthly Absorption

6.3

All Data From SFARMLS

Pablo Cela is Ranked #1 at The Harrison

* Only showing sold homes in 2018 Q3 & Q4. Contact us for the full list of sales in 2018.

49A | $3,700,000 (2BR) $2245/sf 48B | $8,800,000 (3BR) $2738/sf 45A | $3,150,000 (2BR) $1911/sf

45B | $7,300,000 (3BR) $2271/sf 42B | $7,300,000 (3BR) $2271/sf 41C | $4,550,000 (3BR) $2345/sf 38B | $2,100,000 (2BR) $1602/sf

36C | $2,375,000 (2BR) $1780/sf

36D | $2,550,000 (2BR) $1966/sf

31A | $1,157,000 (1BR) $1377/sf

31E | $2,591,000 (2BR) $2088/sf 30C | $2,235,000 (2BR) $1675/sf

28B | $1,885,000 (2BR) $1438/sf

28A | $1,127,000 (1BR) $1342/sf 26B | $1,833,000 (2BR) $1398/sf

24G | $1,081,000 (1BR) $1424/sf

24A | $1,101,000 (1BR) $1311/sf 22B | $1,761,000 (2BR) $1343/sf 21C | $1,850,000 (2BR) $1387/sf 20D | $1,875,000 (2BR) $1446/sf

19C | $1,815,000 (2BR) $1361/sf 16C | $1,690,000 (2BR) $1314/sf

SOLD

16A | $1,075,000 (1BR) $1280/sf

ACTIVE

I N C O NT R A C T

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Skybox Realty 2018 Annual Report

181 Fremont

Developer

181 Fremont

# of Condos

Jay Paul 67

# in Contract

34+

Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com

Monthly Absorption

1.1

All Data From SFARMLS

Pablo Cela is Ranked #1 at The Harrison

69B | $15,000,000 (2BR) $4,689/sf

64C | $3,405,000 (2BR) $2702/sf

59A | $5,235,000 (2BR) $2764/sf

SOLD

ACTIVE

I N C O NT R A C T

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Skybox Realty 2018 Annual Report

Mira

Architect

280 Spear

# of Condos

Studio 392 Gang

# in Contract

30+

Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com

Monthly Absorption

10

All Data From SFARMLS

Pablo Cela is Ranked #1 at The Harrison

The Avery

Architect

OMA

488 Folsom

# of Condos

118

# in Contract

10+

Monthly Absorption

1.4

33

Skybox Realty 2018 Annual Report

Who You Work With Matters Pablo is #1 at The Harrison # of Harrison Developer Sales

27+

Average Sales Price

$1,419,108

Total Sales Volume

$150,000,000+ Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com

All Data From SFARMLS

Pablo Cela is Ranked #1 at The Harrison

“

Pablo consistently exceeded expectations and deserves more stars than we can give. - Chris M

South Beach Average Sales Price Skybox Realty

2018

“

Other Brokers

Paul Hwang

2017

Other Brokers $700K

$800K

$900K

$1M

$1.1M

$1.2M

$1.3M

$1.4M

$1.5M

$1.6M

$1.7M

South Beach Average Price per Square Foot Skybox Realty

2018

Other Brokers

Paul Hwang 2017

Other Brokers $500

$600

$700

© Skybox Realty Inc, 2019

$800

$900

$1000

$1100

$1200

$1300

$1400

$1500

35

© Skybox Realty Inc, 2019

Pablo Cela Ranked #1 at The Harrison

415.216.8746 | dre 01805459 pablo@skyboxrealty.com