For those of you that read this San Francisco real estate blog on a regular basis, you’ll know I’ve been watching the progress of many of the new developments around town. One of my favorites happens to be Millennium Tower (301 Mission). Not because I’ve sold many units there, but because it truly stands out (and above) from the others.
(Yes, that is the Infinity you see way down there, and this shot is only from the 26th floor.)
Don’t get me wrong, I love the other new developments (towers) as well, and I’d love to show any of you around all of the buildings, because they all have their attractions, but Millennium Tower just seems to have that vibe. That…je ne sais quoi…It seems like it will have the same high end/high net worth residents (at least one penthouse in contract at +$10 million and….damn I want to tell you more, but promised not to) as those in the St. Regis, but twice as many amenities at half the dues…not to mention a Michael Minna restaurant. The Infinity feels much more Hard Rock Hotel meets San Francisco (not a bad thing at all), and One Rincon Hill with the dazzling views, just doesn’t have the location (trust me, I’ve had several clients turn away from the location) to put it in the same class as St. Regis and Millennium Tower, not to mention the uncertainty of Tower Two.
I must say I am a bit disappointed with the ranges, and islands in the kitchens at the Millennium, and that some units don’t have deeded parking, but those are easy enough to remedy. The building is solid, and the finishes are very high end. The views are extraordinary, the location is getting better, and the amenities are through the roof. The units are still selling very quickly and many owners losing their money in the stock market have bought multiple units here, so all signs still point to a successful development by Millennium Partners, and I can’t wait until they start moving people in.
(Penthouse terrace views.)
There are still some very choice units available at the Millennium and several at many other developments around town. I haven’t heard of any negotiations or price incentives at Millennium Tower, but I know some of the other developments around town have been offering them up, and the “off market” trading that is going on at many of them is nothing short of extraordinary.
I have more photos, and a lot more details, but you’ll have to contact me if you’d like to learn more.
How do people define “views?”
When i think of “views” in real estate terms, I think of un-obstructed views of natural sceneries like waters, trees, mountains. I never thought a view that combines air-conditioning units on rooftops in a concrete jungle mixed up with a bridge and a body of water as “views”. The combination is too jarring for me, and only serves to remind me how much I wish the concrete jungle in front of me would just go away and disappear.
“Losing money in the stock market” is an UNDERSTATEMENT. People are getting SLAUGHTERED, and I know many people who are saving and investing the difference down 20-40%, myself included. It is absolutely ugly.
Give me shelter over stocks!
How is it possible to be looking down at the top of the 42 story Infinity building from the 26th floor of the Millennium ? Do all of the floors in the Millennium have 20 foot ceilings or something ?
Point taken about the Millenium Tower having a certain “je ne sais quoi”. However, the crucial point, IMO, is that it should. While listed costs per sq. ft. ranging from $1200 to $1800 per sq. ft. it should bring a lot more to the table than One Rincon, where the costs are $800-$1300 per sq. ft. and those at the Infinity around $850 to $1500 per sq. ft. Great view from the 26th floor, but what about those units below the 24th floor? One better like the interior finishes as you will be looking into the side of another concrete structure … much like most buildings in Manhattan. So, no argument about the building being awesome, but it depends what one values most [views or marbled countertops, etc.] as to whether it’s worth the lofty costs. Plus, while Infinity has the edge over the other two on location, I say it’s a toss up between the bus station next to the Millenium versus the on-ramps at One Rincon.