With sales of the designer condos at 8 Octavia having kicked-off in July, around a third of the development’s 40 market rate units are now in contract, according to our sources.
And according to the developer, record-breaking prices for the neighborhood of over $1,300 per square foot have been achieved for top-end units on the upper floors of the Hayes Valley development, units with outdoor space, views and parking.
At the same time, the list price for a least one of the lower floor units in the building without parking was recently adjusted downward “to target a more value conscious buyer” and better “match the market.”
Originally priced at $995,000, a listing for 8 Octavia #404 was quietly withdrawn from the MLS in July and the 1,001-square-foot two-bedroom was re-listed anew for $939,000, or $938 per square foot, last month.
The first closings and move-ins for 8 Octavia are currently slated to occur in October.