In the heart of San Francisco's Mission Bay, Arden stands tall, not just in its physical stature but also in its real estate prominence. This article delves deeper into how the value of Arden's units has evolved over the years, with a special focus on the price and price per square foot of units on similar floors, revealing the nuanced story of vertical value since 2016.

Arden: A Symbol of Elevated Living

Arden's architectural elegance and its strategic location have made it a coveted address in San Francisco. The building's verticality is not just a physical feature; it's a key factor in its market appeal, with higher floors consistently commanding premium prices.

Year-by-Year Analysis of Floor-based Pricing Trends

2016: Setting the Stage

• Initial Pricing: The year 2016 saw the establishment of pricing benchmarks. For instance, a 3rd-floor unit (#303) sold for $1,250,000.
• Price Per Square Foot: This sale translated to approximately $976 per square foot, setting a baseline for future comparisons.

2017: The Value of Elevation Emerges

• Price Escalation: The same 3rd-floor unit (#303) experienced a price increase to $1,485,000 in 2017, a significant jump within a year.
• Price Per Square Foot: This increase brought the price per square foot to approximately $1,160, highlighting the building's growing market appeal.

2018: Consistent Upward Trajectory

• Higher Floor Premium: A 6th-floor unit (#604) sold for $1,720,000, showcasing the premium attached to higher floors.
• Price Per Square Foot: This sale represented around $1,242 per square foot, continuing the upward trend in value.

2019: Market Maturity and Stability

• Stable High-Value Sales: A 2nd-floor unit (#217) sold for $1,705,000, slightly lower than higher-floor counterparts, but still showing strong value.
• Price Per Square Foot: The price per square foot for this unit was approximately $1,304, indicating a stable yet premium market even for lower floors.

2020: Resilience Amidst Uncertainty

• Pandemic Impact: Despite global uncertainties, a high-floor unit (#1108) on the 11th floor sold for $1,729,000.
• Price Per Square Foot: This translated to about $1,428 per square foot, demonstrating the resilience of high-floor units' value.

2021: Reaching New Market Peaks

• Record-Breaking Sales: The sale of a 16th-floor unit (#1600) for $2,180,000 marked one of the highest in the building.
• Price Per Square Foot: This sale achieved approximately $1,642 per square foot, setting a new benchmark for Arden.

2022-2023: The Current Landscape

• Evolving Market Dynamics: A 6th-floor unit (#614) recently sold for $2,568,000, indicating a significant appreciation in value.
• Price Per Square Foot: This sale represented around $1,322 per square foot, reflecting the building's sustained appeal and the market's recognition of vertical value.

The Vertical Value Proposition

• Floor Level vs. Price: The data clearly shows that higher floors have consistently commanded higher prices, with a noticeable increase in price per square foot as we ascend.
• Market Evolution: The evolution in pricing, especially when analyzed per square foot, offers a clear picture of how Arden's value has grown, not just in absolute terms but also in its stature within the San Francisco real estate market.

Conclusion

Arden's journey since 2016 is a story of growth, resilience, and the undeniable allure of vertical living. The building's ability to command increasing prices, especially on higher floors, speaks volumes about its appeal in the competitive San Francisco market. As Arden continues to rise in both stature and value, it remains a beacon of luxury and a barometer for the health and trends of urban real estate in Mission Bay.

If you are interesting in buying or selling a unit in the building, text me to get started.