Purchased for $4.95 million in August of 2016 and listed for $5.498 million this past January, the south-facing, 2,172-square-foot Penthouse Two, which isn’t to be confused with the Grand Penthouse Two, atop The Pacific at 2121 Webster Street, has just resold for $5.395 million, up 8.9 percent on an apples-to-apples basis from the third quarter of 2016.

At the same time, the 1,360-square-foot, two-bedroom unit #603 at The Pacific, a south-facing view unit one floor below, “on the highest floor below the penthouses,” which was purchased for $2.995 million in August of 2017, has just resold for $2.975 million, down 0.7 percent on an apples-to-apples basis from the third quarter of 2017.

And the index for Bay Area condo values, which is down around 4 percent from peak, over the same periods of time? It’s up 13.4 percent and 5.7 percent, respectively.

10 thoughts on “A Pair of High-End Resales (Almost) Atop The Pacific”
  1. This would have been better as a two bedroom with a large living area . . .

    That living room is claustrophobic.

      1. No it isn’t. The master bed runs the full depth of the unit and includes a full bath and walk-in closet. The other two rooms are bisected by the hallway.

        The building prior to renovation was a dental school and set on a rigid (10′-0″?) grid. Theses units are fairly massive, but only appear small in plan without a furniture layout for scale

        1. 2,172 square feet for a 3BR is not “massive.” And I agree that living room looks claustrophobic *in the picture of the living room, staged with furniture.*

          I’m sure what civ-e meant was that the main “room” part of the master suite — before it turns into an internal suite hallway, bathroom, and closet — is smaller than the other two bedrooms. All-around weird and cramped design. Not what I’d spend $5.3M on in SF.

  2. This “penthouse” branding has gotten out of control. What I see here is a unit with a single aspect and a generic floor plan. You walk right into the kitchen from the entry, no foyer, just like any random new-build high rise unit. And do people ever actually use those fancy bathtubs?

    1. The worst is when they market a “penthouse” in a two or three-unit building. WTF?!? Or use “master suite” in a one-bedroom!

  3. I must agree about “penthouse” misuse. Penthouses originally were the topmost contained space on top of/above the roof, i.e. mechanical/elevator equipment, stairwell tops, and any other incidental enclosure for habitation. Now realtors proclaim the top floor(s) unit(s) as penthouses. Snob appeal anyone?

      1. it is an 11 story building, which is considered a high rise by definition. It is on the top floor. Doesn’t meet your bar for a penthouse?

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