SAN DIEGO—Achieving the best price per square foot starts with location, design and execution and moves on from there, Zephyr's Brad Termini tells GlobeSt.com. Over the last six years, the company—co-founded by Termini and Dane Chapin—has completed and sold more than $750 million worth of residential developments throughout San Diego County, achieving some of the highest prices for properties throughout the region. Specifically, the company has raked in $1,468 per square foot for a custom-spec home in Del Mar, part of its "Signature" series of luxury single-family homes; $1,230 per square foot for another "Signature" home on Coronado; $1,215 per square foot for the Park luxury condos and townhomes in Bankers Hill; and $899 per square foot for its "SummerHouse" ocean-view condos in Carlsbad. We spoke exclusively with Termini about the firm's success and what other developers should know achieving higher price points.
GlobeSt.com: What are some of the strategies Zephyr uses to achieve its success in price per square foot?
Termini: One-of-a-kind locations, timeless architecture, impeccable design and world-class execution. We also listen intently to what our buyers are asking for and build homes that exceed those expectations and meet their demands.
GlobeSt.com: What are the pitfalls that developers should avoid in order to reach this success?
Termini: It all starts with location, location, location. It's easy for developers to convince themselves that a particular location is truly special or that a particular view is superior to others, but you can't fool the consumer.
GlobeSt.com: How would you suggest developers try to reach goals in their development projects?
Termini: Surround yourself with the best team of professionals in the industry, who have a track record of creating extraordinary results. This means your internal team and partners, too. We work with the best architects, interior designers, landscape architects and so on. The key is to form a team that complements and challenges each other, while sharing the same vision for excellence.
GlobeSt.com: What else should our readers know about this topic?
Termini: We get these kinds of results by offering a diversity of product types. Our projects range from luxury high-rise condos and townhomes to multi-million-dollar custom-spec homes and ocean-view beach condos—all of which have different buyers. We've been successful because we've built homes that have one-of-a-kind offerings and have met a specific demand that we knew existed.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
