San Francisco Luxury Tower Sold Out

Private equity firm Tishman Speyer Properties has sold out a luxury condominium tower in San Francisco, a sign of very high-demand in SF’s high-end housing market, especially among first-time buyers.

The Infinity San Francisco development fully closed out its 237-unit Tower I, while its 285-unit Tower II is 70% closed-the sales have been finalized.

Tishman said the Infinity is the only large-scale condominium development in the United States to sell more than 200 apartments in 2009.

The development is located close to the Embarcadero, the waterfront shopping and restaurant area, and includes mostly two-bedroom apartments with prices ranging from about $600,000 to $6 million, with an average price of about $1 million.

Via: Reuters, The Infinity