2500 Steiner 2015

While not as exclusive as 2006 Washington, the penthouse of which is now on the market with a $45 million price tag, the twelve-story “Alta Plaza Apartments” building at 2500 Steiner Street is equally iconic and its twelve full-floor cooperative units infrequently trade hands.

Purchased for $1.465 million in June of 1994, the third floor of the Alta Plaza Apartments building, a typical 3,500-square-foot unit which has been remodeled but not “modernized,” returned to the market priced at $8.8 million in March of 2018.

Dropped to $7.8 million after a few weeks on the market, relisted for $7.4 million in 2019, reduced to $7.15 million last year, and then further reduced to $6.995 million this past March, the sale of 2500 Steiner Street #3 has now quietly closed escrow with a contract price of $6.5 million or roughly $1,857 per square foot.

The unit above (2500 Steiner #4) last traded for $5.25 million, or exactly $1,500 per foot, in 2004 while the building’s penthouse (2500 Steiner #11) last traded hands for $7.8 million ($2,229 per square foot) in 2007.

And while the Pac Heights building has long been known as a bastion of San Francisco’s power Democrats, based on a review of the sale documents, it would appear as though the buyer of the third floor recently co-founded a PAC “to find and support center-right Republican women to run for federal elected office,” which might make for some (equally) interesting rides in the elevator.

4 thoughts on “A Pac Heights Bastion Appears to Have Been Breached”
  1. I wouldn’t be surprised if today’s center-right used to be center-left 20 years ago without changing a single stance.

    1. The opposite is far more likely (i.e., these people were simply “right” 20 years ago, and not “center” at all). The party of Trump/McConnell is far more right than the party of W. Bush, so views previously seen as standard for the party are now denigrated as moderate.

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