Also known as “Nob Hill Penthouse Coming Soon” for quite some time, the northern penthouse atop 1170 Sacramento (#19C) has officially hit the market with a “minimum bid” of $5,900,000.
The half-floor condo has been completely gutted (“providing a blank canvas for the new owner’s design team”) and comes with two car parking and a deeded staff room with bath.
And yes, it’s got views.
∙ Listing: 1170 Sacramento #19C – $5,900,000 [sfproperties.com] [MLS]
$6,500/month in HOA fees! Even in this price range that is nuts!
Just a little hurdle to keep the riff-raff out.
Beer money.
By beer money, do you mean tips from bartending?
and only $ 2253 per sq ft.
(they shouldn’t include a scaled floor plan if they are going to omit listing the square footage.)
Way too much money. Should be more like 4.5M. And while the building has a big staff and great security, the HOAs are disproportionately high for the square footage.
What are people envisioning as the price for a fully decked out place in this shell? I’m trying to figure out if this price is reasonable or not for a shell, compared to other properties like this we’ve seen.
I went into contract on a gutted house about 2 years ago. 2 weeks later, BofA stopped offering construction loans and all of the others followed suit. Nine months, three banks, and one construction loan broker later, still no financing.
This is my way of saying the buyer of this place better have enough cash to both buy and renovate. In this case, that is a lot of cash.
It also totally sucks that out of 14 photos they don’t include a single pic of the gutted interior.
I have only been in this building once for an appointment. I think I love it!, check that set of views. It’s like the who’s who of views. I’m going to go with, amazing! That would be a spectacular renovation project to work on!
Dear Consumer,
Anyone that pays over 2m+ for a property pays cash! I really doubt these buyers will need a construction loan….get a clue!
Thank you and have a great day!
“Anyone that pays over 2m+ for a property pays cash!”
False. Thank you and have a great day.
The “Nob Hill” was built with 4 units per floor, so this is double the square footage of anything else in the building. With 12C and 14B listed at 2.1 (without the wrap around decks) I think this is priced pretty well. I’ve had the pleasure of working in many units in this building over the years and it truly is one of the Cities best addresses… and that 180 North facing view is a stunner. Granted – the HOA’s are not for the faint of heart (or wallet).
@Jeff: completely agree that this would be a dream project to design!
In the end you are still on Nob Hill.
This is the building that i believe my Grandma looked into buying in the 60’s. It was on one of the top two floors and was 1/2 of the floor. Because it was southern facing and “without views” she chose not to buy it. I believe it was going for under $200,000. She did have a friend who did live in the building and she told me that there was a button underneath her diningroom table to call for servants. Now that is some OLD money! I can hardly imagine that today although it does exist. If only my grandma could see what that investment would have been worth today!! Instead, she rented around the corner on Jones St. for 26 years…. oops!