SAN FRANCISCO, Jan. 25, 2017 /PRNewswire/ -- The Mark Company, the leader in game-changing sales and marketing services for high-end urban residential developments, has recently been selected to drive sales for nine new developments, totaling over 700 units with sales volume of $1.3 billion in San Francisco and Los Angeles.
Some of the innovative West Coast developments joining The Mark Company's portfolio include: 815 Tennessee in San Francisco's Dogpatch neighborhood, a sophisticated new community with 69 units in a historic brick former factory building; The Austin, with 100 units in the Lower Polk neighborhood; 288 Pacific in desirable Jackson Square; Laguna Hayes in popular Hayes Valley; and 33 Tehama, with more than 400 luxury rental units in the new Transbay Terminal area.
"These new developments are the direct result of savvy developers recognizing the need for a company proven for both innovation and deep experience enabling a quick response to market conditions," Alan Mark, president of The Mark Company says. "In order to maximize sales and revenue, developers need our strategic vision and agility. Our team, distribution channels and analytics are the best in the business."
Founded in 1997, The Mark Company merged in 2015 with Pacific Union International, Inc. In December 2016, Pacific Union's merger with Los Angeles brokerage John Aaroe Group combined these three real estate powerhouses into one, with 2016 sales volume of $10.1 billion and an elite sales team of 1,161 professionals. Additionally, the brokerage's award-winning Chinese Concierge in Beijing gives The Mark Company's clients extensive outreach to China.
The Mark Company clients receive key economic insights from Pacific Union's Chief Economist, Selma Hepp. Additionally, Pacific Union and The Mark Company share a vision for the future, including an Innovation Lab, which accelerates technology development unsurpassed in the industry. The technology stack created through this initiative includes a vast array of proprietary tools that connect the cloud to the street, putting business analytics into the hands of sales teams and giving clients the fastest intelligence to make the right decisions.
The Mark Company is bullish on the spring market. Inventory is still historically low on the West Coast, and both San Francisco and Downtown Seattle reported less than one month of resale inventory for December. The firm's December Trend Sheets also showed month-over-month increases to the Condominium Pricing Indices for Downtown Seattle and Downtown Los Angeles. Though the Index for San Francisco dropped slightly during December after a November increase, buyer demand remained strong, and new construction absorption rose significantly by 72 percent since last month and 129 percent since December of last year. Despite being a typically slower time of the year, The Mark Company successfully sold out three developments during November and December. Projects included 450 Hayes, which achieved a record price per square foot of over $1,900 for Hayes Valley, 388 Fulton, and Turnberry Towers in Las Vegas.
According to Hepp, "The 50 basis points jump in the interest rates following the election with anticipation of further increases over the next few years has created a sense of urgency among some homebuyers. Buyer demand in the Bay Area is bolstered by a strong job market. Plus potential buyers who are invested in the financial markets have benefited from the incredible U.S. stock rally."
While The Mark Company is concluding its sales services with San Francisco development The Harrison, its efforts on the project outperformed market sales trends, with double-digit sales in the summer months. The Mark Company was instrumental in distinguishing The Harrison from its competitors and its sister tower, One Rincon Hill.
The Mark Company's actively-selling portfolio of outstanding developments is led by the West Coast's ultra-luxurious new high-rise homes at 181 Fremont Residences. When complete, 181 Fremont will be the tallest residential building west of Chicago, with unparalleled amenities and interior designs by celebrated designer Orlando Diaz Azcuy. The firm also represents Cavalleri, 68 residences in the celebrated Point Dume neighborhood of Malibu.
About The Mark Company
The Mark Company is one of the nation's premier urban residential marketing and sales firms. Founded by Alan Mark in 1997, 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 global leaders in residential development and finance, providing buyer-driven sales and marketing strategies that produce industry-leading results. 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 The Infinity in San Francisco, Evo in Los Angeles and The Martin in Las Vegas. Current projects include 181 Fremont Residences in San Francisco and Cavalleri in Malibu. The Mark Company is a subsidiary of San Francisco-based Pacific Union International, the ninth largest residential real estate brokerage in the U.S. based on 2015 sales volume of $8.22 billion. Pacific Union merged with Los Angeles-based brokerage John Aaroe Group in December 2016. This strategic business collaboration links three of the strongest residential real estate firms on the West Coast, supporting combined 2016 production of $10.1 billion by 1,161 real estate professionals in 38 offices throughout California. The Mark Company benefits from an enriched leadership team, innovative technology and added global reach through its affiliation with Christie's International. For more information, please visit www.themarkcompany.com.
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SOURCE Pacific Union
