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.