Serif: How It Started, How It’s Going

Like so many other new developments in San Francisco that found themselves with dozens — or hundreds in some cases — of condominiums ready to unload during the COVID-19 pandemic, sales at Serif are moving forward at a dismal pace. Little more than one-fifth of the Mid-Market building’s residential inventory has been purchased since its Spring 2021 debut. However, that average absorption rate of less than three units per month certainly isn’t the worst we’ve seen, and there’s reason to believe things may be looking up.

Before visiting any new development, reach out to us to discuss our services for San Francisco home buyers. You’ll be happy you did. Our agents are negotiating significant deals in today’s volatile market.

960 Market Street #320 is a 2-bed/2-bath residence at Serif currently marketed and listed exclusively by cooperating broker Polaris Pacific at $1,165,000. Listing photos above courtesy of SFAR MLS.

Of the six homes at Serif active on the MLS, five of them — a representative sampling of Studio, Junior 1-Bedroom, 1-Bedroom and 2-Bedroom layouts — have made the rounds once before. Today, these listings are marketed at an average $1,150 per square foot — that’s an almost 20 percent discount from 8-14 months ago when they last appeared. While this sampling is small, it is a mighty display of competitive price adjustments. Opportunity knocks to buy the dip!

A growing list of perks is sweetening the deal for buyers as well.

Thanks to Serif Design Center’s partnership with Bumblebee Spaces, owners have an inside track to upgrading their new homes with tech-forward modular furniture. If you’re not familiar with the San Francisco-based company, their products include various bedroom, living, workspace and storage basics that retract into ceiling-mounted units at the push of a button. Small spaces just got a whole lot more functional.

Owners also enjoy 10 percent off purchases and custom design services from sofa-maker 7th Avenue. And they don’t have to go far to scope the goods: there is a showroom located on site.

Speaking of on-site amenities, the LINE SF hotel opened in September. In addition to 15 percent off guest rooms, Serif owners enjoy a limited 20 percent discount on food and beverage orders at any of its four distinct dining establishments: lobby-level Dark Bar, rooftop bar and restaurant Rise Over Run, Alfred Coffee, and Tenderheart which 7×7 calls “SF’s most exciting new restaurant.”

Bumblebee Spaces promo video.

Are we bullish on a Mid-Market comeback? Absolutely.

Earlier this year, more than 300 new apartments and 640,000 square feet of rentable office space alongside the city’s largest ground-level privately owned public open space were unveiled as part of the 5M megaproject at the neighborhood’s eastern flank. At the western end of Mid-Market, four mixed-use highrises planned in The Hub — Hayes Point, One Oak, 98 Franklin and 10 South Van Ness — will add more than 2,000 housing units in the coming years. Meanwhile, directly across from Serif, the 6×6 mall at 945 Market Street is being redesigned to accommodate an IKEA and possibly an adult mini golf pub among other retail tenants.

You can always live chat with us to get real-time data and a qualitative take on the market. We’re actively identifying unique opportunities and making deals happen. We know what’s good!

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