Two Unit Commercial Building: Ground floor of approx. 3000 sq ft includes basement and mezzanine which will be vacant first quarter 2009 (also available for lease@ $7500/mo, currently gift store). Upper floor is owner occupied dental practice. Owner would like to lease-back upper level but will consider all offers. High foot and vehicle traffic commercial building along Geary corridor.
Call Oron Maher 415-378-5464 for more information.
Friday, February 13, 2009
January 2009 Meetup Group Featured Attorney Dee Ware of Cooper White and Cooper
For those have you who have not yet made it to our Real Estate Investment Meetup Group, please consider attending one of our 2009 meetings. Our January speaker was attorney Dee Ware.
Dee A. Ware is a partner at Cooper, White and Cooper, LLP, specializing in complex construction, real estate and commercial litigation. She is a founding member and co-chairperson of the firm's Green Practice Group. Ms. Ware was one of the first attorneys in the country to be certified as a Leadership in Energy and Environmental Design Accredited Professional (LEED AP) by the U.S. Green Building Council. She assists clients in all phases of the green building process, including rating system selection, navigation of the certification process and rapidly emerging government regulations, implementation of risk management strategies, and advocacy of client interests in the event that a dispute arises concerning design, construction, certification, operation or purchase and sale of a green project. Since 1991, Ms. Ware has represented some of California’s largest lenders, developers, design professionals and general contractors in all facets of residential and commercial construction litigation, including claims of defective construction, mechanic’s liens and contract disputes. In addition, she has counseled numerous property owners, real estate professionals and investment companies in connection with real estate disputes concerning development, zoning, financing, sale and acquisition and commercial leasing.
Ms. Ware graduated cum laude from Syracuse University in 1988, earning bachelor’s degrees in political science and public relations, and holds a juris doctor degree from the University of California, Hastings College of the Law. She is a member of the State Bar of California and has previously been appointed to its Committee on the Administration of Justice. She has also served on the California Association of Realtors’ Tort Advisory Committee, as a Judge Pro Tem for the Alameda County Superior Courts, and on steering committees and advisory boards for green building and sustainable business conferences and events.
Ms. Ware has received an AV® Peer Review Rating from LexisNexis Martindale-Hubbell, which is the highest rating awarded for legal ability and ethical standards.
For more information about our monthly meetings in San Francisco, please contact Oron Maher (415) 378-5464
Dee A. Ware is a partner at Cooper, White and Cooper, LLP, specializing in complex construction, real estate and commercial litigation. She is a founding member and co-chairperson of the firm's Green Practice Group. Ms. Ware was one of the first attorneys in the country to be certified as a Leadership in Energy and Environmental Design Accredited Professional (LEED AP) by the U.S. Green Building Council. She assists clients in all phases of the green building process, including rating system selection, navigation of the certification process and rapidly emerging government regulations, implementation of risk management strategies, and advocacy of client interests in the event that a dispute arises concerning design, construction, certification, operation or purchase and sale of a green project. Since 1991, Ms. Ware has represented some of California’s largest lenders, developers, design professionals and general contractors in all facets of residential and commercial construction litigation, including claims of defective construction, mechanic’s liens and contract disputes. In addition, she has counseled numerous property owners, real estate professionals and investment companies in connection with real estate disputes concerning development, zoning, financing, sale and acquisition and commercial leasing.
Ms. Ware graduated cum laude from Syracuse University in 1988, earning bachelor’s degrees in political science and public relations, and holds a juris doctor degree from the University of California, Hastings College of the Law. She is a member of the State Bar of California and has previously been appointed to its Committee on the Administration of Justice. She has also served on the California Association of Realtors’ Tort Advisory Committee, as a Judge Pro Tem for the Alameda County Superior Courts, and on steering committees and advisory boards for green building and sustainable business conferences and events.
Ms. Ware has received an AV® Peer Review Rating from LexisNexis Martindale-Hubbell, which is the highest rating awarded for legal ability and ethical standards.
For more information about our monthly meetings in San Francisco, please contact Oron Maher (415) 378-5464
Tuesday, November 11, 2008
Goldman Report
These are truly historic times. Last week, Barack Obama was elected as America’s first African-American president. I don’t envy his new job. He faces as great a challenge as FDR did in the 30’s. All of America, no matter whether you voted for him or not, is now dependent on what he does as he assumes the presidency on January 20th. I know all of us wish him well as he leads us out of our current economic crisis.
It is too early to tell what it will mean for the housing market. However, the declines on Wall Street and the focus on the election have slowed most segments of the local housing market over the last couple of weeks. Financial uncertainty, the fear created by a protracted recession and declining home values, has made buyers reluctant to move forward.
Believe it or not, there are bright spots. Although housing prices have declined, so too have inventories. In addition, the number of units closed over the last several months has increased over last year during the same period. These gains, however, have been in the lower price ranges. With the decline in median price first hitting in these same ranges beginning at the end of 2006, we are now seeing declines in areas that have been immune previously i.e. San Francisco.
The numbers from the month of October clearly demonstrate these trends. Where we have seen the most significant price declines year over year (the lower price ranges), we have also seen both the largest reduction in inventories and the greatest gains in homes sold year over year. Where there were few, if any, multiple offers in the lower price ranges last year, they currently represent the majority of multiple offers.
Both Contra Costa (-44%) and Solano (-37%) counties, which have some of lowest median prices, saw the greatest declines in price. They also had the largest increase in unit sales over last October---Solano (+242%) and Contra Costa (+185%). On the other end, the counties with the highest median sales prices have had the smallest declines in price---San Francisco (-10%), Marin (-25%) and San Mateo (-25%), but also had either a decline in units sold or much smaller increases in units sold over last October---San Francisco (-20%), Marin (+12%) and San Mateo (+17%). The rest of the counties were as follows (the first number is decline in price and the second is increase in units sold): Alameda (-35/+75%), Santa Clara (-33%/+35%), Napa (-32%/+58%) and Sonoma (-32%/+122%).
All but one county (San Francisco) declined in months supply of inventory over last year. The greatest percentage declines in supply occurred in those counties with the biggest declines in median price. The most dramatic decline was in Solano County, which has the lowest median price in the Bay Area. It went from a 22.4 months supply last year to a 5.4 months supply this year. The rest of the counties are as follows (the first number is October 2008 months supply of inventory and the second is October 2007): Sonoma (4.4/12.7), Contra Costa (4.7/15.1), Alameda (4.9/10.1), San Francisco (5.2/3.5), San Mateo (5.3/6.0), Solano (5.4/22.4), Marin (6.0/6.7), Santa Clara (6.4/9.0) and Napa (8.5/15.7).
The number of days on market has declined in counties with the lowest median prices, while they increased in the counties with the higher priced homes. The changes in percent in the number of days on the market are as follows: Napa (-27%), Solano (-20%), Sonoma (-20%), Contra Costa (-16%), Alameda (+15%), Marin (+17%), Santa Clara (+29%), San Mateo (+32%) and San Francisco (+44%).
The higher price counties remained healthy through most of last year while the lower priced counties took the brunt of the sub-prime fiasco. This year the higher price counties have not been immune. The worsening economy has now affected all income levels. What the lower end market experienced in the end of 2006 and all of 2007, the higher priced markets are experiencing now. We are beginning to see prices stabilize in some of our lower end markets. The recovery always starts at the bottom. The pace of the recovery will depend on many factors---most notably is how protracted a recession we will face. To be sure, the man who we elected President last Tuesday will have a profound effect on the housing market.
It is too early to tell what it will mean for the housing market. However, the declines on Wall Street and the focus on the election have slowed most segments of the local housing market over the last couple of weeks. Financial uncertainty, the fear created by a protracted recession and declining home values, has made buyers reluctant to move forward.
Believe it or not, there are bright spots. Although housing prices have declined, so too have inventories. In addition, the number of units closed over the last several months has increased over last year during the same period. These gains, however, have been in the lower price ranges. With the decline in median price first hitting in these same ranges beginning at the end of 2006, we are now seeing declines in areas that have been immune previously i.e. San Francisco.
The numbers from the month of October clearly demonstrate these trends. Where we have seen the most significant price declines year over year (the lower price ranges), we have also seen both the largest reduction in inventories and the greatest gains in homes sold year over year. Where there were few, if any, multiple offers in the lower price ranges last year, they currently represent the majority of multiple offers.
Both Contra Costa (-44%) and Solano (-37%) counties, which have some of lowest median prices, saw the greatest declines in price. They also had the largest increase in unit sales over last October---Solano (+242%) and Contra Costa (+185%). On the other end, the counties with the highest median sales prices have had the smallest declines in price---San Francisco (-10%), Marin (-25%) and San Mateo (-25%), but also had either a decline in units sold or much smaller increases in units sold over last October---San Francisco (-20%), Marin (+12%) and San Mateo (+17%). The rest of the counties were as follows (the first number is decline in price and the second is increase in units sold): Alameda (-35/+75%), Santa Clara (-33%/+35%), Napa (-32%/+58%) and Sonoma (-32%/+122%).
All but one county (San Francisco) declined in months supply of inventory over last year. The greatest percentage declines in supply occurred in those counties with the biggest declines in median price. The most dramatic decline was in Solano County, which has the lowest median price in the Bay Area. It went from a 22.4 months supply last year to a 5.4 months supply this year. The rest of the counties are as follows (the first number is October 2008 months supply of inventory and the second is October 2007): Sonoma (4.4/12.7), Contra Costa (4.7/15.1), Alameda (4.9/10.1), San Francisco (5.2/3.5), San Mateo (5.3/6.0), Solano (5.4/22.4), Marin (6.0/6.7), Santa Clara (6.4/9.0) and Napa (8.5/15.7).
The number of days on market has declined in counties with the lowest median prices, while they increased in the counties with the higher priced homes. The changes in percent in the number of days on the market are as follows: Napa (-27%), Solano (-20%), Sonoma (-20%), Contra Costa (-16%), Alameda (+15%), Marin (+17%), Santa Clara (+29%), San Mateo (+32%) and San Francisco (+44%).
The higher price counties remained healthy through most of last year while the lower priced counties took the brunt of the sub-prime fiasco. This year the higher price counties have not been immune. The worsening economy has now affected all income levels. What the lower end market experienced in the end of 2006 and all of 2007, the higher priced markets are experiencing now. We are beginning to see prices stabilize in some of our lower end markets. The recovery always starts at the bottom. The pace of the recovery will depend on many factors---most notably is how protracted a recession we will face. To be sure, the man who we elected President last Tuesday will have a profound effect on the housing market.
Saturday, October 11, 2008
Just Listed- Edward II Inn and Suites-Hotel for Sale
Property Description:Own a historic corner of San Francisco, in the tourist heavy Marina District. The 3 story boutique hotel was originally constructed in 1914 to accommodate visitors to the Panama Pacific International Exposition of 1915. Licenced for 32 tourist units, the inn currently operates 29 rooms in the main building (fee simple), all with beautiful Edwardian detail; and 2 large suites on the northeast corner of Lombard (leasehold interest), which allows for prime signage on both northwest and southeast sides of the street. Ground floor has a charming corner lobby with high ceilings, licenced Bloomers Pub with bath , guest breakfast area, kitchen, 2 offices, 3 suites with jacuzzi baths. Second and third floor have 26 additional rooms, double glazed windows, stained glass. Five off-sight leased parking spaces may be delivered.This hotel has been operated as a bed and breakfast. It enjoys a prime corner location and 50' frontage on Lombard Street and a depth (on Scott Street) of 68.75 feet. Walk to restaurants and shops on Lombard and Chestnut streets. One of the closest hotels to the Golden Gate Bridge. Property history shows strong occupancy and great future room revenue potential.
Location Description:The subject site is located on the southwest corner of the intersection of Lombard and Scott Streets in the City of County of San Francisco, California. Its dual civic address is known as 3151-55 Scott Street and 2401-05 Lombard Street. The subject is identified as San Francisco County Assessor' s Parcel Number 937-001.The subject property is located in a neighborhood identified as the Marina District. The neighborhood may be more specifically identified as that area east of the Presidio, bordered to the north by the San Francisco Bay, to the west by Van Ness Avenue, and to the south by Union Street. The neighborhood can be generally characterized as one of the better quality residential areas in the city of San Francisco. Transportation through the neighborhood is considered good. Two main arteries run east/west through the neighborhood including Lombard Street and Marina Boulevard. Both these streets intersect with U.S. Highway 101 to the west, which provides access to the Golden Gate Bridge and north.
Location Description:The subject site is located on the southwest corner of the intersection of Lombard and Scott Streets in the City of County of San Francisco, California. Its dual civic address is known as 3151-55 Scott Street and 2401-05 Lombard Street. The subject is identified as San Francisco County Assessor' s Parcel Number 937-001.The subject property is located in a neighborhood identified as the Marina District. The neighborhood may be more specifically identified as that area east of the Presidio, bordered to the north by the San Francisco Bay, to the west by Van Ness Avenue, and to the south by Union Street. The neighborhood can be generally characterized as one of the better quality residential areas in the city of San Francisco. Transportation through the neighborhood is considered good. Two main arteries run east/west through the neighborhood including Lombard Street and Marina Boulevard. Both these streets intersect with U.S. Highway 101 to the west, which provides access to the Golden Gate Bridge and north.
Asking Price: $6,000,000.
For more information please call: Oron Maher (415) 378-5464
October 22 Meeting will feature Bill Whalen of Wachovia
Meeting Location: Fort Mason, Room C230
Time: 6:30 - 8:30pm
Please join us for our next real estate meetup. While we are still in the process of confirming a second speaker- we are very pleased to have Bill Whalen address our group on October 22nd. Mr. Whalen, who is a Managing Director at Wachovia, will give us an inside analysis on real estate capital markets and an economic forecast for the coming year. Come learn from the industries best, and network with other like-minded real estate minds.
Mr. Whalen is a Managing Director and Regional Executive in the San Francisco office of Wachovia's Real Estate Division. Mr. Whalen manages Wachovia's real estate platform for the Northwest Region. Mr. Whalen is responsible for managing a team of real estate bankers who provide a full suite of capital solutions to institutional and middle market real estate investors. Mr. Whalen has closed over 6.0 billion in commercial real estate transactions since opening the San Francisco office for Wachovia Securities (First Union) in 1998.
Mr. Whalen has twenty years of corporate banking and commercial real estate finance experience and has worked in Wachovia's Real Estate platform for the past ten years. Prior to joining Wachovia, Mr. Whalen was a Vice President and Senior Underwriter at Wells Fargo Real Estate Capital Markets in San Francisco. At Wells Fargo he was responsible for underwriting and structuring commercial real estate mortgages intended for securitization. Prior to Wells Fargo, Mr. Whalen was Vice President at First Interstate Bank of California where he served in various capacities in its Real Estate Division. Mr. Whalen graduated with a B.A. in Economics and Political Science from the University of New Mexico.
For more information please call: Oron Maher (415) 378-5464.
Time: 6:30 - 8:30pm
Please join us for our next real estate meetup. While we are still in the process of confirming a second speaker- we are very pleased to have Bill Whalen address our group on October 22nd. Mr. Whalen, who is a Managing Director at Wachovia, will give us an inside analysis on real estate capital markets and an economic forecast for the coming year. Come learn from the industries best, and network with other like-minded real estate minds.
Mr. Whalen is a Managing Director and Regional Executive in the San Francisco office of Wachovia's Real Estate Division. Mr. Whalen manages Wachovia's real estate platform for the Northwest Region. Mr. Whalen is responsible for managing a team of real estate bankers who provide a full suite of capital solutions to institutional and middle market real estate investors. Mr. Whalen has closed over 6.0 billion in commercial real estate transactions since opening the San Francisco office for Wachovia Securities (First Union) in 1998.
Mr. Whalen has twenty years of corporate banking and commercial real estate finance experience and has worked in Wachovia's Real Estate platform for the past ten years. Prior to joining Wachovia, Mr. Whalen was a Vice President and Senior Underwriter at Wells Fargo Real Estate Capital Markets in San Francisco. At Wells Fargo he was responsible for underwriting and structuring commercial real estate mortgages intended for securitization. Prior to Wells Fargo, Mr. Whalen was Vice President at First Interstate Bank of California where he served in various capacities in its Real Estate Division. Mr. Whalen graduated with a B.A. in Economics and Political Science from the University of New Mexico.
For more information please call: Oron Maher (415) 378-5464.
Sunday, October 5, 2008
Oron Maher Represents Unique Marina District Bed & Breakfast Inn
San Francisco, CA – October 7, 2008 – Romantics, celebrities, historians and San Francisco visitors alike love the European-style Edward II Inn and Suites. For nearly 100 years, this one-of-a-kind Marina District bed and breakfast inn and pub has successfully paired old world charm with 21st century amenities, earning the title as one of the three Best Romantic Hotels in San Francisco by City Search. The ideally located property at 3155 Scott Street (@ Lombard) is now on the market, represented by listing agent Oron Maher of Pacific Union GMAC Real Estate. Price is available upon request.
“This inn is a tremendous and hard to obtain piece of San Francisco history as well as a successful bed and breakfast and English pub which are offered for sale at a time when San Francisco tourism and occupancy rates are at an all time high,” said Maher, who works from Pacific Union’s Presidio headquarters. “It also contains star appeal. The movie Beaches with Bette Midler was partially filmed in the hotel.”
On a historic note, the exquisite three-story inn was originally constructed in 1914 to accommodate visitors of the Panama Pacific International Exposition in 1915 which was held at what is now the Marina Green. With 11,754 square feet, the Edward II Inn and Suites features 31 rooms, four suites, Bloomers Pub and charm galore. Ideally situated at the corner of Scott and Lombard streets, the Edward II is all about location. It is just minutes from many popular Marina District shops and restaurants, the Presidio and Fort Mason, and attractions like Fisherman’s Wharf and Ghirardelli Square.
“This inn is a tremendous and hard to obtain piece of San Francisco history as well as a successful bed and breakfast and English pub which are offered for sale at a time when San Francisco tourism and occupancy rates are at an all time high,” said Maher, who works from Pacific Union’s Presidio headquarters. “It also contains star appeal. The movie Beaches with Bette Midler was partially filmed in the hotel.”
On a historic note, the exquisite three-story inn was originally constructed in 1914 to accommodate visitors of the Panama Pacific International Exposition in 1915 which was held at what is now the Marina Green. With 11,754 square feet, the Edward II Inn and Suites features 31 rooms, four suites, Bloomers Pub and charm galore. Ideally situated at the corner of Scott and Lombard streets, the Edward II is all about location. It is just minutes from many popular Marina District shops and restaurants, the Presidio and Fort Mason, and attractions like Fisherman’s Wharf and Ghirardelli Square.
Edward II Inn and Suites voted among top three Most Romantic Hotels in San Francisco
For more information about the hotel, or to request a showing, contact Oron Maher at 415.378-5464, realtylaw@gmail.com.
For more information about the hotel, or to request a showing, contact Oron Maher at 415.378-5464, realtylaw@gmail.com.
Thursday, September 18, 2008
Pacific Sales Comes to San Francisco
Pacific Sales Comes to San Francisco
Kitchen and Bath Retailer Expands into Northern CA
Southern California-based Pacific Sales Kitchen, Bath & Electronics signed a 10-year lease for the entire building at 955-975 Bryant St. in San Francisco. The tenant will take the former Copenhagen Furniture space in January next year. The 30,000-square foot retail building was built in 1928 in the Showplace Square submarket. It received renovations in 2000. The lease is part of Pacific Sales' expansion into Northern California.
Kitchen and Bath Retailer Expands into Northern CA
Southern California-based Pacific Sales Kitchen, Bath & Electronics signed a 10-year lease for the entire building at 955-975 Bryant St. in San Francisco. The tenant will take the former Copenhagen Furniture space in January next year. The 30,000-square foot retail building was built in 1928 in the Showplace Square submarket. It received renovations in 2000. The lease is part of Pacific Sales' expansion into Northern California.
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