237-unit Tower I now 100 percent closed out; 285-unit Tower II is nearly 70 percent closed after only nine months on the market
The Infinity San Francisco, a 650-unit luxury condominium development by Tishman Speyer, announced this week that its 237-unit Tower I is 100 percent closed out. The Tower I close out caps off an extraordinarily successful year in which The Infinity recorded 292 net sales – nearly 45 percent of its total 650 units of inventory. The development’s 285-unit Tower II is nearly 70 percent closed just nine months after opening in February 2009. The entire development is now more than 85 percent closed.
The Infinity’s sales velocity in 2009 has far outpaced other large-scale condominium developments in major markets across the United States, including New York, Los Angeles, San Francisco, Chicago, Washington, D.C. and Seattle. No comparable development in these markets has more than 200 net sales in 2009, with the majority recording less than 100 new sales this year.
“In a challenging real estate climate, Tishman Speyer has taken proactive steps to meet market demand,” said Carl Shannon, managing director of Tishman Speyer in the Bay Area. “Homebuyers are telling us they are choosing The Infinity because its combination of premier waterfront location, views, quality design, amenities and fair pricing is not available elsewhere.”
“We are now focused on selling our remaining inventory, which includes some of our best high-end units,” said Shannon.
Tishman Speyer President & Co-CEO Rob Speyer added, “These extremely strong sales results confirm our original judgment that San Francisco homebuyers would embrace this unique project with so many compelling features. Tishman Speyer’s long list of successful development projects around the world now has a new addition.”
Designed by renowned architect Bernardo Fort-Brescia of Arquitectonica and San Francisco-based Heller Manus Architects, The Infinity is comprised of two towers rising 37 and 42 stories and two mid-rise buildings of eight and nine stories arranged around a central landscaped courtyard by Hargreaves Associates. With a 400-foot rise one block from San Francisco’s Embarcadero waterfront, The Infinity’s Tower II offers unmatched views of San Francisco and the Bay. Tower II offers one, two and three-bedroom homes, including four penthouses and six two-story residences.
“The Infinity is a real coup for Tishman Speyer,” said Steven Rockmore, president of Residential Realty Advisors, a New York-based residential sales and marketing consulting firm. “The Infinity’s ability to sell nearly 300 units in the first 10 months of this year is an unprecedented achievement given the national climate of cautious real estate investment.”
Residences at The Infinity feature floor-to-ceiling curved glass windows, and modern floor plans with living, dining and kitchen areas conceived as a single, open space. Most homes feature nine-foot ceilings, Bosch, Thermador and Viking appliances, automated climate control systems and walk-in closets. Tower II offers two additional floors of larger homes, including four penthouses and six two-story homes. The top 12 floors (31-42) offer upgraded features such as sky terraces, Viking cooktops, Poggenpohl cabinets and quartzite countertops.
Residents have access to luxurious amenities, including:
•An on-site concierge available seven days a week
•A 5,000 square foot state-of-the-art fitness center which includes 75-foot lap pool with natural light from skylights and spa-like facilities with private treatment rooms and saunas
•A theatre-style private screening room
•A spacious club lounge featuring a catering bar and kitchen for private parties and everyday enjoyment
•A 24-hour business center and conference facilities
•An outdoor courtyard featuring a soothing water wall, seating terraces, Japanese maple and honey locust trees
•Gated parking with a deeded space for every residence
The Infinity is situated within easy walking distance to downtown San Francisco, SOMA, South Beach and the Embarcadero’s dining, shopping and cultural destinations. The Infinity also offers convenient access to transportation, including I-80, I-101 and I-280 highways, BART and MUNI.
About Tishman Speyer
Tishman Speyer is one of the leading owners, developers, operators and investment managers of first-class real estate in the world. Since 1978, Tishman Speyer has acquired, developed and operated over 325 projects totaling over 116 million square feet and more than 92,000 residential units, and a property portfolio of over US $50.7 billion in total value across the United States, Europe, Latin America and Asia. We operate in 22 cities, 8 countries and 5 continents. The portfolio includes signature properties such as New York’s Rockefeller Center and Chrysler Center, Berlin’s Sony Center and Torre Norte in Sao Paulo, Brazil. www.tishmanspeyer.com.
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