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Infinity SF & Blu SF updates

by sfishome on January 21, 2009

Tower one or phase one of the Infinity, 318 Spear St San Francisco, still isn’t sold out. Tower two or phase two of the Infinity, 338 Spear St, which many claim is the superior tower since it’s closer to the water and has more unobstructed view homes… and is rumored to have better finishes… isn’t yet complete, nor is it for sale as of today. Speculation at sites like Socketsite, a San Francisco real estate blog with active commenters, has been that the Infinity’s tower two would begin selling soon after the first of the year.

Well, per the Sales office, you can now see tower two via private appointment, but with scarce appointments available. But in early February they will be ready for drop-in appointments. As always start at the Sales office, and it’s still best to book an appointment. In addition, Sales will commence around the time that drop-in appointments begin. HOWEVER, tower two is still not ready for occupancy and may not be until June or so.

The prices quoted at Tower one are still amazingly high. One of the only (or was it the only???) 1 bedrooms remaining that has water views is asking $895,000 for just over 800 SqFt. At over $1,000 per SqFt it amazes me that anyone would pay that (well, they haven’t since this particular one is still for sale – and they proactively tell you that they will entertain lower offers), but with the credit freeze, stock market drop, and over-supply of homes in and around SOMA/South Beach including their own Tower two… it seems to me a 1 bedroom condo ought to be asking $700,000, not $895,000.

Regarding Blu, or 631 Folsom St San Francisco, they will begin showing finished models next week, and occupancy will begin at the end of March or beginning of April. Thus far only 10% of Blu is in contract whereas Infinity tower one claims to only have about 10% remaining… but of course 0% sold in tower two.

Of the three hottest new buildings in the area… the ultra luxury Millennium SF at 301 Mission is the most expensive (despite an announced 15% drop in prices), Infinity is a pretty luxurious building, at least in terms of amenities, and is cheaper, but is more expensive than Blu. But in addition to amenities, Blu has few private patio/balconies (only 2nd floor and penthouse) whereas Infinity has the most.

It will be a very interesting year in real estate throughout San Francisco, but the SOMA/South Beach/Mission Bay market, and in particular these three developments all opening this Spring, will be very interesting to watch.

If you would like to be updated on all MLS activity at these three buildings you can enter your specific search at Automated-HomeFinder.com, or try out SF-MLS-Search.com or register at CleanOffer.com or email me at info @ SFisHOME.com for direct service.

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