2019 Q2 / South Beach & Yerba Buena Condo Report | presented by Pablo Cela, Skybox Realty

2019 Q2 Condo Report South Beach & Yerba Buena Pablo Cela | Ranked #1 at The Harrison

Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com

Dear Neighbors, At the end of Q2 2019, year over year sales statistics for South Beach were positive; # of transactions +9% (83), average $/sf +5% ($1,266/sf), & days on the market reduced 6% (42 days). Yerba Buena sales increased +32% (25) year over year as Millennium Tower has begun to sell again with a solution to the foundation problem in place, albeit at value pricing. The Infinity’s gravitational influence on South Beach real estate has been shifted towards newer construction such as Lumina and Mira. One Rincon Hill sales are consistent, although experiencing high variance in pricing. Rents remain strong.

Interest rates are significantly lower than they were a year ago, and are anticipated to continue to be historically low through the remainder of the year. The foreign national all cash buyer (ie China money) has dropped to normal levels. The majority of the standard 6 month employee lock up periods for the successfull 2019 Bay Area IPOs should end by Q1 2020. Their effect on the market will be positive.

A new Starbucks opened in South Beach, the Transbay Terminal Park has re-opened, and open house traffic has increased. We anticipate resale pricing to be flat for the remainder of the year as new construction inventory is absorbed.

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.

Š Skybox Realty Inc, 2019

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Skybox Realty 2019 Q2 Report

All Data From SFARMLS

Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com

Table of Contents South Beach & Yerba Buena Market Snapshot The Infinity

6-7 8 - 11

Lumina Resales

12 - 15

The Harrison Resales

16 - 19

One Rincon Hill

20 - 23

The Metropolitan

24 - 27

Watermark

28 - 31

Millennium

32 - 35

One Hawthorne

36 - 39

2019 Q2 Sales

40 - 43

New Construction

44 - 45

Who You Work With Matters

46 - 47

Š Skybox Realty Inc, 2019

5

Skybox Realty 2019 Q2 Report

South Beach 2019 Q2 # of Transactions

83

9.2% YOY /

54% QOQ

Average Sales Price

$1,393,590 .45% YOY /

5.6% QOQ

Average Price per Square Foot

$1,266 5.1% YOY /

9.6% QOQ

Average Days on the Market

42

---- YOY /

5.5% QOQ All Data From SFARMLS

Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com

Yerba Buena 2019 Q2 # of Transactions

25

32% YOY /

47% QOQ

Average Sales Price

$1,193,339 11% YOY /

4.2% QOQ

Average Price per Square Foot

$1,192 .5% YOY /

6.5% QOQ

Average Days on the Market

51

8.5% YOY /

16% QOQ

© Skybox Realty Inc, 2019

7

The Infinity

# of Transactions

4

60% YOY /

33% QOQ

Average Sales Price

$1,727,000 30% YOY /

30% QOQ

Average $/SF

THE I N F I N I TY

AVG $1,479/SF

Q2 Q1 Q4 Q3

AVG $1,306/SF AVG $1,354/SF AVG $1,376/SF All Data From SFARMLS

301 / 333 Main, 318 / 338 Spear

Average $/SF

$1,479 18% YOY /

13% QOQ

Average Days on Market

34

45% YOY /

Buyer Demographic

2.9% QOQ

THE I N F I N I TY

CA S H B UYER LO A N B UYER UN K N O WN

2 0 1 9 Q1 © Skybox Realty Inc, 2019

2019 Q 2

9

The Infinity D42A | $4,200,000 (2BR) $3312/sf

D33F | $2,395,000 (2BR) $1514/sf

D21G | $1,179,000 (1BR) $1461/sf

A7A | $2,695,000 (3BR) $1685/sf A6G | $729,000 (1BR) $1355/sf

All Data From SFARMLS

SO L D

ACTI V E

IN CONTRACT

B33B | $5,500,000 (3BR) $3374/sf B31A | $1,150,000 (2BR) $1538/sf B29A | $2,099,000 (2BR) $1655/sf B28A | $1,999,000 (2BR) $1577/sf B26G | $1,115,000 (1BR) $1382/sf

B20D | $1,788,000 (2BR) $1499/sf

C6H | $775,000 (0BR) $1364/sf

© Skybox Realty Inc, 2019

11

Lumina

# of Transactions

9

125% YOY /

125% QOQ

Average Sales Price

$1,760,333 6.1% YOY /

24% QOQ

Average $/SF

LUMI N A

AVG $1,504/SF

Q2 Q1

AVG $1,314/SF AVG $1,543/SF

Q4

AVG $1,256/SF

Q3

AVG $1,473/SF AVG $1,256/SF All Data From SFARMLS

318 / 338 Main, 333 Beale, 201 Folsom

Average $/SF

$1,504 7.6% YOY /

14% QOQ

Average Days on Market

60

56% YOY /

Buyer Demographic

20% QOQ

LUMI N A

CA S H B UYER LO A N B UYER UN K N O WN

2 0 1 9 Q1 © Skybox Realty Inc, 2019

2019 Q 2

13

Lumina

D35C | $3,100,000 (2BR) $2079/sf D33D | $1,450,000 (1BR) $1506/sf

D29A | $2,999,000 (2BR) $1908/sf D26D | $1,338,000 (1BR) $1372/sf D26E | $3,795,000 (3BR) $2017/sf

D22E | $2,488,000 (2BR) $1800/sf

D17E | $2,400,000 (2BR) $1713/sf

D14B | $1,850,000 (2BR) $1570/sf

D9H | $1,175,000 (1BR) $1376/sf

D9A | $1,925,000 (2BR) $1396/sf C8H | $1,525,000 (1BR) $1548/sf

D6H | $1,068,000 (1BR) $1251/sf C4C | $1,225,000 (1BR) $1337/sf C3F | $1,069,000 (1BR) $1162/sf

All Data From SFARMLS

SO L D

ACTI V E

IN CONTRACT

B41A | $11,495,000 (3BR) $2016/sf

B31C | $2,360,000 (2BR) $1579/sf

B27B | $1,999,000 (2BR) $1180/sf B25A | $2,488,000 (2BR) $1819/sf

B10G | $2,090,000 (2BR) $1492/sf B10C | $2,150,000 (2BR) $1532/sf A8I | $1,479,900 (1BR) $1578/sf

A5J | $1,225,000 (1BR) $1389/sf B3A | $1,780,000 (2BR) $1301/sf

© Skybox Realty Inc, 2019

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The Harrison Resales

# of Transactions

Average Sales Price

---- YOY /

---- YOY /

3

25% QOQ

Average $/SF

15% QOQ

THE HA RRI S O N

AVG $1,302/SF

Q2

AVG $1,439/SF

Q1 Q4

$1,643,333

AVG $1,119/SF

Q3

All Data From SFARMLS

401 Harrison

Average $/SF

Average Days on Market

---- YOY /

---- YOY /

$1,302 9.6% QOQ

57

Buyer Demographic

119% QOQ

THE HA RRI S O N

CA S H B UYER LO A N B UYER UN K N O WN

2 0 1 9 Q1 © Skybox Realty Inc, 2019

2019 Q 2

17

The Harrison Resales

9E | $988,000 (1BR) $1397/sf

All Data From SFARMLS

SO L D

ACTI V E

IN CONTRACT

21B | $1,875,000 (2BR) $1430/sf

14F | $1,850,000 (2BR) $1492/sf 11D | $998,000 (1BR) $1644/sf 9B | $1,585,000 (2BR) $1208/sf 8F | $1,495,000 (2BR) $1206/sf

© Skybox Realty Inc, 2019

19

One Rincon Hill

# of Transactions

7

40% YOY /

250% QOQ

Average Sales Price

$1,779,429 13% YOY /

67% QOQ

Average $/SF

O N E RI N CO N HI LL

AVG $1,507/SF

Q2 Q1

AVG $1,354/SF AVG $1,496/SF

Q4 Q3

AVG $1,263/SF AVG $1,256/SF All Data From SFARMLS

425 1st, 489 Harrison

Average $/SF

$1,507 4.1% YOY /

11% QOQ

Average Days on Market

73

66% YOY /

Buyer Demographic

128% QOQ

O N E RI N CO N HI LL

CA S H B UYER LO A N B UYER UN K N O WN

2 0 1 9 Q1 © Skybox Realty Inc, 2019

2019 Q 2

21

One Rincon Hill

4407 | $1,308,000 (1BR) $1597/sf

507 | $1,975,000 (2BR) $1310/sf 305 | $1,750,000 (2BR) $1129/sf

All Data From SFARMLS

SO L D

ACTI V E

IN CONTRACT

6001 | $3,600,000 (2BR) $2196/sf 5903 | $3,285,000 (3BR) $1959/sf 5802 | $3,395,000 (3BR) $2245/sf 5704 | $3,899,000 (2BR) $2487/sf 5406 | $2,888,000 (2BR) $2278/sf 5101 | $2,350,000 (2BR) $2255/sf 4803 | $2,195,000 (2BR) $1718/sf 4706 | $2,198,000 (2BR) $1775/sf 4403 | $1,998,000 (2BR) $1516/sf

3905 | $950,000 (1BR) $1338/sf

3303 | $1,850,000 (2BR) $1445/sf

2508 | $1,000,000 (1BR) $1325/sf 1907 | $1,108,000 (1BR) $1353/sf

1506 | $1,695,000 (2BR) $1369/sf

804 | $819,000 (1BR) $1354/sf

© Skybox Realty Inc, 2019

23

The Metropolitan

# of Transactions

3

---- YOY / ---- QOQ

Average $/SF Q2 Q1 Q4 Q3

Average Sales Price

$1,456,000 37% YOY /

.79% QOQ

THE METRO P O LI TA N

AVG $1,290/SF AVG $1,321/SF AVG $1,374/SF AVG $1,285/SF All Data From SFARMLS

333 / 355 1st

Average $/SF

$1,290 5.4% YOY /

2.4% QOQ

Average Days on Market

28

115% YOY /

Buyer Demographic

154% QOQ

THE METRO P O LI TA N

CA S H B UYER LO A N B UYER UN K N O WN

2 0 1 9 Q1 © Skybox Realty Inc, 2019

2019 Q 2

25

The Metropolitan

N402 | $868,000 (1BR) $1,217/sf N203 | $850,000 (1BR) $1,235/sf

All Data From SFARMLS

SO L D

ACTI V E

IN CONTRACT

S2603 | $2,195,000 (2BR) $1483/sf S2302 | $2,093,000 (2BR) $1413/sf

S1607 | $1,425,000 (2BR) $1222/sf S1502 | $1,799,000 (2BR) $1543/sf

S904 | $402,047 (2BR) bmr

© Skybox Realty Inc, 2019

27

Watermark

# of Transactions

3

200% YOY /

100% QOQ

Average Sales Price

$1,113,333 55% YOY /

100% QOQ

Average $/SF Q2

WA TERMA RK

AVG $1,137/SF

Q1 Q4 Q3

AVG $1,166/SF AVG $1,256/SF

AVG $1,439/SF All Data From SFARMLS

501 Beale

Average $/SF

$1,137 38% YOY /

100% QOQ

Average Days on Market

35

25% YOY /

Buyer Demographic

WA TERMA RK

CA S H B UYER

No Sa les in 2 0 1 9 Q1

2 0 1 9 Q1 © Skybox Realty Inc, 2019

100% QOQ

LO A N B UYER UN K N O WN

2019 Q 2

29

Watermark

6B | $1,410,000 (2BR) $1384sf

All Data From SFARMLS

SO L D

ACTI V E

IN CONTRACT

21F | $1,849,000 (2BR) $1639/sf

18F | $1,749,000 (2BR) $1551/sf

11A | $1,695,000 (2BR) $1461/sf 10B | $1,595,000 (2BR) $1565/sf

6G | $1,250,000 (2BR) $1205/sf

1D | $680,000 (1BR) $821/sf

© Skybox Realty Inc, 2019

31

Millennium Tower

# of Transactions

2

100% YOY / ---- QOQ

Average Sales Price

$1,615,000 7.7% YOY /

58% QOQ

Average $/SF

MI LLEN N I UM TO WER

Q2

AVG $1,108/SF

Q1 Q4

AVG $831/SF AVG $969/SF

Q3

All Data From SFARMLS

301 Mission

Average $/SF

$1,108 21% YOY /

33% QOQ

Average Days on Market

99

35% YOY /

Buyer Demographic

45% QOQ

MI LLEN N I UM TO WER

CA S H B UYER LO A N B UYER UN K N O WN

2 0 1 9 Q1 © Skybox Realty Inc, 2019

2019 Q 2

33

Millennium Tower

28A | $2,000,000 (2BR) $1318/sf

803 | $1,780,000 (1BR) $1166/sf

All Data From SFARMLS

SO L D

ACTI V E

IN CONTRACT

34E | $1,880,000 (2BR) $1097/sf

28F | $1,675,000 (2BR) $1046/sf

12J | $1,350,000 (2BR) $1118/sf

© Skybox Realty Inc, 2019

35

One Hawthorne

# of Transactions

4

300% YOY /

33% QOQ

Average $/SF

29% YOY /

20% QOQ

O N E HA WTHO RN E

AVG $1,345/SF

Q1

Q3

$1,264,750 AVG $1,330/SF

Q2

Q4

Average Sales Price

$1,093/SF AVG $1,364/SF All Data From SFARMLS

1 Hawthorne

Average $/SF

$1,330 17% YOY /

1.2% QOQ

Average Days on Market

40

26% YOY /

Buyer Demographic

263% QOQ

MI LLEN N I UM TO WER

CA S H B UYER LO A N B UYER UN K N O WN

2 0 1 9 Q1 © Skybox Realty Inc, 2019

2019 Q 2

37

One Hawthorne

21D | $1,295,000 (1BR) $1533/sf

5J | $1,500,000 (2BR) $1203/sf

All Data From SFARMLS

SO L D

ACTI V E

IN CONTRACT

21A | $1,200,000 (1BR) $1320/sf 18A | $1,200,000 (1BR) $1320/sf

10E | $1,570,000 (2BR) $1260/sf

5B | $694,000 (1BR) $1324/sf 4G | $998,000 (1BR) $1176/sf

© Skybox Realty Inc, 2019

39

Skybox Realty 2019 Q2 Report

2019 Q2 Sales Address

BR / BA

SQFT

1 Hawthorne 5B

1/1

524

1 Hawthorne 21D

1/1

845

301 Mission 12J

2/2

1,207

1 Hawthorne 5J

2/2

1,247

1 Hawthorne 10E

2/2

1,246

301 Mission 34E

2/2

1,714

501 Beale 1D

1/1

828

333 Main 6H

0/1

568

333 1st 203

1/1

688

425 1st 3905

1/1

710

425 1st 2508

1/1

755

338 Main 6H

1/1

854

338 Main 9H

1/1

854

333 Beale 4C

1 / 1.5

916

318 Main 5J

1/1

882

501 Beale 6G

2/2

1,037

425 1st 4407

1/1

819

501 Beale 6B

2/2

1,019

355 1st 1607

2/2

1,166

338 Main 33D

1/1

963

All Data From SFARMLS

Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com

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

Sale Price

$/SF

% Sale/List

$694,000

$1,324.43

100.87

$1,295,000

$1,532.54

100.00

$1,350,000

$1,118.48

100.00

$1,500,000

$1,202.89

105.26

$1,570,000

$1,260.03

98.13

$1,880,000

$1,096.85

85.49

$680,000

$821.26

97.42

$775,000

$1,364.44

99.49

$850,000

$1,235.47

100.00

$950,000

$1,338.03

97.44

$1,080,000

$1,324.50

92.59

$1,068,000

$1,250.59

100.00

$1,198,800

$1,375.88

98.01

$1,299,000

$1,337.34

98.08

$1,225,000

$1,388.89

100.00

$1,250,000

$1,205.40

93.98

$1,308,000

$1,597.07

110.10

$1,410,000

$1,383.71

100.00

$1,425,000

$1,222.13

95.64

$1,450,000

$1,505.71

98.31

© Skybox Realty Inc, 2019

41

Skybox Realty 2019 Q2 Report

2019 Q2 Sales Continued...

Address

BR / BA

SQFT

401 Harrison 8F

2/2

1,240

401 Harrison 9B

2/2

1,312

489 Harrison 305

2 / 2.5

1,550

301 Main 20D

2/2

1,193

425 1st 3303

2/2

1,278

401 Harrison 14F

2/2

1,240

301 Main 31A

2/2

1,268

425 1st 4403

2/2

1,318

201 Folsom 10G

2/2

1,401

355 1st 2302

2/2

1,481

201 Folsom 10C

2/2

1,403

201 Folsom 31C

2/2

1,495

338 Spear 33F

2/2

1,582

338 Main 35C

2/2

1,491

425 1st 6001

2/2

1,639

All Data From SFARMLS

Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com

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

Sale Price

$/SF

% Sale/List

$1,495,000

$1,205.65

99.73

$1,585,000

$1,208.08

99.37

$1,750,000

$1,129,03

97.28

$1,788,000

$1,498.74

96.71

$1,850,000

$1,447.57

98.67

$1,850,000

$1,491.94

98.67

$1,950,000

$1,537.85

97.55

$1,998,000

$1,515.93

100.00

$2,090,000

$1,491.79

97.21

$2,093,000

$1,413.23

99.86

$2,150,000

$1,532.43

100.00

$2,360,000

$1,578.60

96.37

$2,395,000

$1,513.91

100.00

$3,100,000

$2,079.14

95.38

$3,600,000

$2,196.46

98.63

© Skybox Realty Inc, 2019

43

Skybox Realty 2019 Q2 Report

Mira 280 Spear Architect

# of Units

Studio Gang

392

# in Contract / Sold

Monthly Absorption

50+

5.6 Units

181 Fremont 181 Fremont Developer

# of Units

Jay Paul

67

# in Contract / Sold

Monthly Absorption

34+

1 Unit

All Data From SFARMLS

Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com

The Harrison 401 Harrison Interiors

# of Units

Ken Fulk

298

# in Contract / Sold

Monthly Absorption

241+

7.5 Units

The Avery 488 Folsom Architect

# of Units

OMA

118

# in Contract / Sold

Monthly Absorption

20+

1.6 Units

© Skybox Realty Inc, 2019

45

Skybox Realty 2019 Q2 Report

Pablo Cela | Who You Work With Matters

South Beach Average Price per Square Foot 2019

Skybox Realty Other Brokers Skybox Realty

2018

Other Brokers Skybox Realty

2017

$700

Other Brokers

$900

$1100

$1300

$1500

All Data From SFARMLS

Pablo Cela | 415.886.5121 | pablo@skyboxrealty.com

“

Pablo consistently exceeded expectations and deserves more stars than we can give!

- Chris M

© Skybox Realty Inc, 2019

“ 47

Pablo Cela Ranked #1 at The Harrison 415.886.5121 | dre 01805459 pablo@skyboxrealty.com