While the Bay Area high-end market is struggling, at least one high-end and rather high-profile sale is not: the Mayor’s $2,995,000 one-bedroom Bellaire Tower penthouse is now “firmly” in escrow (as in any contingencies have been removed).
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While the Bay Area high-end market is struggling, at least one high-end and rather high-profile sale is not: the Mayor’s $2,995,000 one-bedroom Bellaire Tower penthouse is now “firmly” in escrow (as in any contingencies have been removed).
It helps to be connected. I hope it’s not a patronage politics of Willie Brown era.
Anyone want to take a guess at the the buyer’s political affiliation?
Any inside info on the Mayor’s new pad? 765 Sanchez perhaps?
Since republicans live in barns, I’d guess *not* republican?
My bet is Gavin will live at The Millennium.
Getty bought it back – either that or some other politically motivated purchase, there’s no way this would move so quickly at that price otherwise.
there’s no way this would move so quickly at that price otherwise.
Why do you say that?
My prediction is that they will live in Pac Hts, in a house of at least 5000 sq ft, with a north view, near his friends. Security will be a consideration in choosing the house; the price will not be. It will be decorated in much better taste than this condo.
“Why do you say that?”
Are you so innocent to believe political motivations are ABSENT from any financial dealings with any somewhat prominent politician?? I pegged you as masochistic and delusional, but I never though you were naive as well.
I’m not naive at all, stupid name guy. That’s why I don’t take internet postings from people I’ve never met verbatim. You are more than welcome to believe what Jake said at 9:32. I’d like a little more of a backstory, and a context. The flat statement that a luxury condo would otherwise not sell in this market is not particularly believable to me. One or two have been selling weekly since late March.
Obviously this condo was underpriced.
Who is the (real) buyer?
Buyer is a fellow sleaze, no doubt.
Somehow, I expect there will be a quid pro quo here.
Yeah, Hillary’s cattle trades were on the up and up. Dumb beginners luck.
Someone just liked the view.
Anyone care to speculate on the true market value of this unit? No one took a stab at it in the previous thread.
What’s is the real value of an property owned by a politician?
It’s whatever someone, who wants a favor done by that politician, is willing to pay.
A bribe, under the guise of a home purchase, has absolutely no relationship to the itrinsic value of said property.
As I said before, I’m sure the purchaser simply was enthralled with the view. Nothing more.
Mayor Gavin may have come up with a business model. Could he patent it?
it was purchased from a friend and surely sold to a friend- Newsom does not do anything straight up-
there are financial assets, real estate assets, and political assets……
which are the hardest to come by?
Editor:
It will be great if we can bring this thread back after the sale closes and we can see who bought the place. Overpaying for homes, cars and my favorite overpaying relatives has always been an easy way to make a campaign contribution that does not show up as a campaign contribution…
[Editor’s Note: We will but don’t be surprised to see a “confidential” sales price and possibly a trust on the deed.]
Maybe the buyer became a little more interested in the place once he/she realized the former owner. There’s some cachet for some folks in being able to say “This place used to be owned by …”
lookielew, dakota: what % premium would you say that cache holds? just a back of the hand calc is fine to kick things off. 30-40% seems like a good place to start.
Maybe a crash pad for Rippey-Tourke, if he’s still got that on the side?
gh — technically, that’s a shag pad.
Sold for $2,935,000 according to MLS.
http://sfarmls.rapmls.com/scripts/mgrqispi.dll?APPNAME=Sanfrancisco&PRGNAME=MLSPropertyDetail&ARGUMENTS=-N738380438,-N234337,-N,-A,-N18154814
Only 60k under at this price point and in this market? I’m telling you, I bet a “family member” (including the Gettys) bought this. Either that or one of Kim Jong Il’s dopey kids wanted a love-shack in the sky.
remind me, what did Gavin pay the Gettys for this place?