Nearly $6,000 per Square Foot in Pac Heights (Two Years Ago)June 6, 2017
As we first reported back in early 2015:
The 10th floor of the überexclusive Pacific Heights building at 2006 Washington Street [had] traded hands in a hush-hush deal and at a price point never before seen in San Francisco.
While the seller had been privately seeking as much as $35 million for the 5,400-square-foot, full-floor unit #10, according to a plugged-in source, the sale price was closer to $30 million.
A sale at $30 million would not only make it the most expensive apartment (condo/co-op) in San Francisco, surpassing the $28 million paid for the nearly 17,000-square-foot penthouse atop the San Francisco St. Regis, but it would shatter the price per square foot record for all residences in the city, both current and anticipated, at over $5,500 per square foot.
And we’re told the buyers, who are not in tech nor from overseas, are working on plans to gut and remodel the unit.
With the sale of the 5,700-square-foot unit two floors below (2006 Washington #8) having just closed escrow for $22 million, or roughly $3,860 per square foot, we realized we never circled back with the exact sale price for 2006 Washington #10 (which has, in fact, since been remodeled).
And while never officially listed nor captured on any industry-based reports, the record-setting contract price for 2006 Washington Street #10 was $32 million or roughly $5,926 per square foot in March of 2015.
Comments from Plugged-In Readers
So are we to infer that prices have dropped a lot, or realize we’re comparing a penthouse to something two floors down (sort of a beefsteak to cherry tomatoes comparison, I guess, in SS’ produce-centered comparison chart) ??
2006 Washington #8 sold for $16 million in August 2014 and just sold for $22 million in June 2017. 37 1/2% higher in less than three years. It would take a lot of logical gymnastics to infer any recent market decline from that.
thanks, anon. talk about burying the lede
The first part of this statement is not accurate. Unit 8, prior to the 2017 sale, had been in the same family since the 80s, and before that, belonged to the first owner.
Neither. We thought people might like to know the actual record-setting price for an apartment in the city. But of course, others will see it as an opportunity to whinge and whine.
On a side note I remain aghast at what our Wreck the Park department did to “Danielle Steele Park.” It used to have this perfect balance of empty space, big trees and a certain kind of windswept beauty, but with some amenities like a play area, bathrooms and a water fountain. Now its subdivided like a Texas congressional redistricting into all these weird little parts and feels very over-fussy IMHO. They are turning our parks into 24-hour fitness recreation sports centers even as the great cities globally are restoring parks to their original (often 19th century) selves.
Let me guess: they added a children’s playground?
There was always (well, for decades) a playground.
Awww…it is really sad that Lafayette Park isn’t a homeless and drug addict encampment. Now it is used by local families every day, who love it. The horror of it all.
Is the 10th floor the top floor in the photo with the railing around it and taller arched windows/doors?
It seems so.
Yes. From our 2015-era report (as linked above): “Designed by Conrad Alfred Meussdorffer, overlooking the Spreckels Mansion with unobstructed views of the San Francisco Bay, there is a much smaller unit on the “11th” floor of the building, but the 10th floor of 2006 Washington was the original penthouse unit and many still refer to it as such.”
Although the charming narrative that accompanied my link – “acquired by a young Silicon Valley entrepreneur to be a Pied-a-Terre for weekends with family and friends in the (sic) city…suited for a quiet evening with the children” … how precious !! – might seem to contradict the assertion that the buyers “are not in tech.”
Uh, huh. But those were the sellers, not the buyers. And that’s the former interior which was subsequently remodeled as reported above.
Props for the correction (that’s why I like weasel words like “might seem” !!)
There’s another smaller unit on the 11th floor.
Jesus that pad is PIMP, no fuss over the price of this one, I ponder what the Spreckles mansion would command nowadays, any ideas SocketSite?
I walk by that building all the time. For that price, I’d prefer a home where people like me couldn’t walk by it all the time.
In your periodic walks, are you floating by on the EIGHTH FLOOR?
Heck, if that is the case, you can form a new religion and quickly afford to buy such a property!
UPDATE: Record-Setting Pac Height Penthouse Back on the Market for $45M
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