St. Regis Penthouse: Living

It’s a plugged-in reader that catches a slight change to the asking price for the Penthouse atop San Francisco’s St. Regis (188 Minna). Asking $70,000,000 in August of 2008, now listed on the Sotheby’s website for $49,000,000.

St. Regis Penthouse: Living

Once again, 20,000+ square feet (including 2,900 of terraces); six bedrooms (including a 2,500 square foot master suite) and seven full baths (four half); a thirteen-seat Home Cinema design and overseeing of installation by Keith Yates; 22 foot floor-to-ceiling glass walls; and six car parking.

St. Regis Penthouse: Dining and Deck

Purchased for roughly $30,000,000 as a raw shell in 2005, it’s been three years in the making, and as far as we know there’s still 15% to go (i.e., it’s 85% complete).

Full Disclosure: The co-listing agent for the penthouse atop the San Francisco St. Regis advertises on SocketSite but had no knowledge of this post.

Comments from Plugged-In Readers

  1. Posted by diemos

    I wonder if this place will win the prize for, “Most expensive foreclosure in the city”.

  2. Posted by San FronziScheme

    I guess they got all the free advertising they could from the nice round wish price and they are now beginning the actual business of selling the place at a nice round discount (30%).
    The air is pretty thin up there, that’s for sure.

  3. Posted by tipster

    Well, it *is* on a busy street.

  4. Posted by jessep

    I have a question. If it’s 85% done, that means it’s not just a shell?

  5. Posted by Jim

    Two things:
    1. I live across the street at the Paramount. On the rooftop, you have a clear view of this unit. It is no where near 85% complete. It is just an empty shell.
    2. Victor MacFarlane, who owns the place, is a good guy. Wish he didn’t have to dump this place.

  6. Posted by eddy

    SfS, 30% discount? You’re kidding right? This place isn’t even for sale in my mind as no one is in the market for a $49M condo in SF. I feel seriously sorry for the person that paid $30M for this place. Isn’t it best practice to have at least one comp for making this type of purchase. And if you were using Dubai for a comp, better check the news. This is great REporn at its finest, that’s all.

  7. Posted by San FronziScheme

    Yeah eddy,
    I don’t know if it is worth 10, 30, 50 or 70M. Any of these numbers is too surreal to mean anything to this little rational head of mine. Just that the brush strokes are still too broad to be serious.

  8. Posted by alex

    Tough time to be selling these biggies, that’s for sure. But you never know, somebody could come out of the blue and just have to have it, and money may be no object to them. If this thing sells at that price anytime soon though, then we’ll all be scratching out heads, and I’ll kidnap the owner and take him to Vegas as my lucky charm. (Not really, but that’d be some luck.)

  9. Posted by jessep

    You’d probably have to spend 20M to make it look like anything in the renderings.
    Such a shame. 🙁
    poor victor mcfarlane, I predict it’ll sell for a huge loss. Maybe 15M

  10. Posted by Jimmy (No Longer Bitter)

    Gotta thin