While the Business Times has just broken the “exclusive” news that a 3,326-square-foot condo atop the new tower at 181 Fremont Street has sold for “$15 million or about $4,509 per square foot, setting a record as the highest price-per-square-foot condo sale in San Francisco,” it’s time for a gentle reminder that the effective penthouse unit atop the überexclusive Pacific Heights building at 2006 Washington Street fetched $32 million, or roughly $5,926 per square foot, back in 2015 (and after which it was gutted and remodeled).
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SocketSite, are you trying to let the facts get in the way of a good story again?
Breathless hyperbole is the Business Times’ forté : that Massive ® isn’t theirs wasn’t for lack of trying.
(Of course as far as scoring “exclusives” – some of them even accurate – I think I’d give them the edge over…well…others)
I heard that the buyers of the 181 Fremont unit are also entirely gutting and remodeling their place completely.
What would that suggest Daniel Steels mansion next door Is worth?
condo vs. co-op?
2006 Washington is most likely a co-op. 181 Fremont is condo.
Such a waste of resources, especially in this era of environmental meltdown, for all of these newly minted San Francisco oligarchs to gut these homes and toss everything in the landfill every bloody time the property changes hands. Not to mention the historic features that these nouveau riche vandals destroy. Decadent.
In my remodel projects, I’ve donate all materials to Habitat for Humanity, and the organization has relished everything – every last plank, appliance, and door knob. Much of the goods have gone into helping victims of recent CA wildfire devastation. Zero waste actually, supported a great cause, and helped to employ more people along the way.
Did you donate the cake for them to eat as well?
That’s not really entirely fair. Miraloma Man was commenting on the waste. Nicholas was responding that waste doesn’t have to be an issue.
I am sure you yourself live in a 300 square foot hut in the wilderness you built yourself out of gleanings from the local landfill.
Your use of the phrase “newly minted” and “nouveau riche” is interesting. If the old money crowd wastes resources, is that different to you?
I assume 2006 Washington is a coop and not a condo? If so, Business Times is technically correct.
That’s correct, with fewer amenities than the tower at 181 Fremont and an effective distinction without a difference in the context of price per square foot records for apartment-type units in San Francisco.
They did call it out in the article: “The building is among a wave of new ultra-luxury condo projects hitting San Francisco. Previously, Trumark Urban’s The Pacific in Pacific Heights set records for high prices in a 76-unit condo project that recently sold out. In 2015, a buyer paid about $30 million or about $5,556 per square foot for a penthouse in 2006 Washington St. in San Francisco, but that was a co-op or shared ownership sale, which is different from a condo purchase. The highest purchase price for a condo in San Francisco involved a 20,000-square-foot penthouse in the St. Regis that sold for $28 million in 2011.”
What did unit 2 sell for? Anyone know?
The duplex? Close to 25M.
Unit 70A is ‘atop’ 181 Fremont and will definitely sell for more than $15M. The BT article doesn’t even mention what floor this unit is on, but it’s clearly a half floor. Expect the actual penthouse to sell for much more than the one on Washington street.
Yes, 70A is asking 42.5, and the developer apparently has gotten offers within range. Rumor is that they are considering raising the price. I know that the 15M sale is a unit very close to the very top.
Speaking of which: Record-Setting Pac Height Penthouse Back on the Market for $45M