424-unit Residential Condominium Complex near San Francisco Achieves Strong Sales Absorption and Price per Square Foot
San Francisco – February 26, 2015 – The Mark Company, a leading urban residential marketing and sales firm, has announced the completion of sales at Bridgewater, a 424-unit residential condominium complex in Emeryville, California.
The Mark Company achieved an average of nine units sold per month, and increased prices by 40 percent over the life of the project, making it one of Emeryville’s fastest selling and most successful condominium developments. Closing prices ranged from the mid $200,000s to the low $400,000s for one-bedroom residences, and the mid $300,000s to mid $500,000s for two bedrooms.
“Bridgewater’s strong sales volume and price per square foot can be attributed in part to our rebranding of the property, strategic upgrades to the residences and common areas to appeal to younger buyers, as well as its convenient location just 10 minutes from San Francisco,” stated Alan Mark, founder and president of The Mark Company. “The project also benefitted from low down payment programs, which were extremely attractive to first-time Millennial buyers priced out of San Francisco.”
Over half of the buyers at Bridgewater were Millennials between 26 and 33 years old, and approximately 25 percent were between 34 and 45 years old. Many worked in the high tech/software, finance and healthcare industries, with nearly half employed in San Francisco. Approximately 70 percent were first time buyers.
The Mark Company targeted Millennial buyers with a customized sales and marketing program that emphasized digital marketing, events, social media, and a mobile phone app.
Bridgewater features over an acre of landscaped grounds, a pool and spa, fitness center, outdoor grilling area, landscaped outdoor courtyard and dog run. There is also a yoga studio, dry sauna, club room and lounge, and onsite parking.
Interior amenities include granite kitchen countertops, LG stainless steel appliances, marble bathroom countertops, walk-in closets, extra storage, private balconies or patios, washer and dryer, and homes with views.
Bridgewater has a Walk Score of 91 out of 100 and is adjacent to the waterfront and close to Public Market Emeryville, a retail center with shops, restaurants and a movie theater.
About The Mark Company
The Mark Company is one of the nation’s premier urban residential marketing and sales firms. Founded by Alan Mark, The Mark Company provides a full range of core consulting services including analytics, design, marketing and sales for urban high-rises and suburban attached properties throughout the Western United States. The firm is a trusted partner to leading residential developers and financial institutions such as Tishman Speyer, iStar Financial and Bosa Development. Since 1997, The Mark Company has represented more than 10,000 residences and generated over $5 billion in sales for some of the nation’s most notable and successful developments including 300 Ivy in San Francisco, Spire in Denver, Evo in Los Angeles, and The Martin in Las Vegas. Current projects include The San Francisco Shipyard, 181 Fremont Residences in San Francisco, and SL70 in Los Angeles. For more information, visit www.TheMarkCompany.com.