Foreign Investor Completes San Francisco Condo Projects

The move establishes a global presence for the Pune-based developer.

living room chair sofa couch home  by ErikaWittlieb via

Image by ErikaWittlieb via

Pune-based Gera Developments has established an international footprint with the completion of two mixed-use condominium projects in San Francisco’s South of Market area. Through its wholly owned subsidiary, Outdo Inc., the developer owns a 50 percent ownership stake in 1288 Howard encompassing 129 units as well as the 24-unit Le Centre.

The owner has launched sales at both properties. Nikhil Gera, president of Outdo Inc., said in prepared remarks that the company anticipates attaining an average sales price of $1,350 per square foot. In the coming months, Outdo Inc. plans to continue expanding its presence in the Golden State, considered a “key growth market.” Two other projects in the Bay Area are already in the planning stages, Gera added.

Amenities at 1288 Howard, Le Centre

The 1288 Howard property encompasses studios, one- and two-bedroom units, lofts as well as townhouses. The property also contains a 13,000-square-foot ground-floor commercial and retail space and is topped with a deck outfitted with two barbecue areas and two fire pits.

Common-area amenities also include an indoor-outdoor business center, bike storage and secured storage. The property’s two buildings are divided by a landscaped green space dubbed The Lane, inspired by a European cobblestone alley and is outfitted with seating areas.

READ ALSO: The Shift Toward Family-Centric Condos

Le Centre, located at 42 Otis St., offers studios with large floor-to-ceiling windows along with a commercial space totaling 3,500 square feet. Amenities include bike and package storage along with a landscaped rooftop deck with seating areas.

Both properties are less than a mile away from the San Francisco Conservatory of Music, California Institute of Integral Studies. Le Centre and 1288 Howard are within half a mile of several corporate headquarters such as Twitter and Uber.

You May Also Like