Completely overhauled in the late 90’s by Andrew Skurman and Suzanne Tucker, which landed the full-floor unit #3 in the Beaux Arts building at 1001 California Street a spread in Architectural Digest back in 1999, the 3,500-square-foot, two-bedroom condo quietly sold for $4.5 million in October of 2011 having been listed for $5.995 million that May.

Returned to the market priced at $12.8 million in late 2018, the asking price for 1001 California #3 was reduced to $10.9 million in early 2019, to $9.9 million in early 2021, to $8.9 million in January of this year and then to $7.9 million this past April.  And having just sold for $7.3 million or roughly $2,100 per square foot, the re-sale of 1001 California #3 was officially “within 8 percent of asking” according to all industry stats and aggregate reports.

On an apples-to-apples basis, that’s total appreciation of 62.2 percent since the fourth quarter of 2011 for the truly luxury condo, or roughly 4.5 percent per year, while the widely misreported Case-Shiller Index for “San Francisco” condo values was up 132 percent over the same period of time.

Comments from Plugged-In Readers

  1. Posted by Big D

    I wish I could learn about the residents of these (and other similar) buildings in the city. I feel like it’s gotta be mostly people in their late 60s+ who earned their money from their parents or own a stake in manufacturing and sit on a board of some big overseas conglomerate.

    • Posted by Haighter

      Me too, I’m so curious who the buyers of these types of places are. Someone with $7.3M can live anywhere, and he/she chose Nob Hill.

    • Posted by jlasf

      The owners are probably empty-nesters in their 50’s – 60’s. This might be their third or fourth home – one in Napa, one in Hawaii, and maybe a place in Europe somewhere. They don’t want the hassle of a home to maintain. This is merely their pied-a-terre that’s convenient to the PU Club, just across the street.

    • Posted by The Narrator

      2A: 94 year old venture capitalist
      2B: mystery
      3A + 3B: pied-à-terre for a former software company CFO, now a philanthropist
      4A + 4B: venture capitalist
      5A + 5B: 81 year old partner / co-founder of an investment management firm
      6: real estate investor and Trump-Pence fundraiser host
      7: 64 year old VC guy / son of the 2nd floor guy
      8: lawyer + possibly a developer?
      9: corporate VP for a software company
      10: same folks that own #6
      TH1: mystery
      TH2: CEO of a medical company.

      Pretty boring crowd if you ask me…

      • Posted by haighter

        Thanks for the intel!

      • Posted by Never In Doubt

        We live in a 9 unit PacHeights coop and have a *very* similar resident profile.

      • Posted by Nick

        There’s only floors 2-7 plus the tiny penthouse that used to be attached to 7. All units are full-floor apartments except the two on the 2nd floor. TH1-2 are both two-story units on the first floor duplexed down. Where are you getting 9 and 10 from? There’s no 9th or 10th floor.

        • Posted by The Narrator

          Slight misunderstanding of the SF PIM on my part I guess. What I assumed to be #9, 0254/091, became /111 and /112 which correlate with TH1 and TH2. Not sure about #10 though, which is still listed as a separate lot, 0254/096. Close and accurate enough I guess.

  2. Posted by Greg on 26

    On the one hand, it’s not my taste at all, but on the other hand, it’s impressive to see a renovation that was done ~25 years ago that doesn’t look dated. Those hardwood floors look amazing

    • Posted by BobN

      There’s something to be said for going with classic style (and doing it right).

    • Posted by Paulish

      Not as amazing as that hardwood range hood!

  3. Posted by MarinaBoy

    Always loved that building and the floorplans…wish I could have purchased this beauty!

  4. Posted by EBGuy

    Thought it was Thanksgiving already…

  5. Posted by Foggyandcold

    Gorgeous. Just gorgeous. Tbh I think 7.3 is a great deal for that. Of course I suppose you’ll need another 1.5 or 2 to furnish it 🙂

    I’ve never lived in nob hill, probably not in my top five neighborhood picks but to each their own. If you’re old money this is probably your jam.

  6. Posted by SanFranSeeYa

    Used to be a great restaurant downstairs, then they made it into another unit…it’s street level and subterranean. I also seem to remember that a family member of the Marcos crime family used to own a unit.

    • Posted by Jeffrey W. Baker

      I’m curious to know which restaurant you thought was great by SF standards. It can’t have been Beaucoup, so how far back are you going? It must have been something that’s been gone for decades.

      • Posted by Notcom

        Alexis’ Tangier was “one of a number of eateries that occupied space at 1001 California Street (another being Trader Vic’s). Alexis’ Tangier was in operation from the 1950s through the 1970s.”

      • Posted by SanFranSeeYa

        Beaucoup was not great but it was acceptable, especially for Nob Hill

Comments are closed.

Recent Articles