St. Regis Penthouse Was $70,000,000, Now $35,000,000. Yes, That’s Correct – $35,000,000 Less.

The original “asking” price for the 20,000 square foot St. Regis Penthouse (188 Minna), was $70,000,000, and at that price it was only slightly ambitious. Now at 50% less or $35,000,000 and still not officially “listed” on MLS, I expect all but one of the buyers in San Francisco to be able to qualify for this property.
According to the Wall Street Journal, this penthouse is “likely the most expensive bank-owned, single-family residential real estate listing in the country.” If that doesn’t get all of you first time buyers looking for a deal and to purchase foreclosed property to jump at this opportunity, perhaps the description will: Six bedrooms, 12 bathrooms, four fireplaces, a library and a home theater. The living room has 22-foot-high ceilings and an entrance foyer with a two-story waterfall feature. There’s also a 2,500-square-foot master suite with a gym, sauna and steam room and 3,000 square feet of terraces with views of the city and the bay.
Because you always ask…and I’m always happy to share, “The apartment was built by real-estate investment manager and developer Victor MacFarlane, who purchased three apartment shells then combined them into one large finished unit. He sold it back to the bank in a deed in lieu of foreclosure after it failed to sell after several price cuts. The unit is now owned by Second Step Asset Management, a subsidiary of Bank of America.”

And it could be yours for $35,000,000…chump change.

-Schedule a Private Showing
-Deluxe San Francisco Penthouse to Relist for 50% off [Wall Street Journal]
-On Top Of The World At The St. Regis San Francisco [theFrontSteps]
-St. Regis Penthouse Marketing Details [Sotheby's]
-Both Millennium Tower’s Grand Penthomes Are Sold, Thanks To A Yacht [theFrontSteps.com]

39 thoughts on “St. Regis Penthouse Was $70,000,000, Now $35,000,000. Yes, That’s Correct – $35,000,000 Less.

  1. THIS SEEMS A WEE BIT OVERPRICED. I JUST WATCHED, “SELLING NEW YORK,” LAST NIGHT AND EVEN THEIR UBER EXPENSIVE SPACES ARE MUCH MORE REASONABLE. IT’S VERY NICE, BUT PERHAPS IT WOULD BEST BE A BUSINESS OF SOME KIND. A GALLERY? WINE TASTING ROOM(S)? A RENTED SPOT FOR COMPANY PARTIES? IT WOULD MAKE A FANTASTIC HOLIDAY PARTY SPOT!

  2. Wow, this is a beautiful house, then what? The Lords house is made of many mansions, No one can know the “Good Life” with out God!

  3. They always clean the windows right before they show these. In 2 weeks you are living behind dirty windows and don’t even want to look out until the cleaners come again in 6 months!

  4. I was never allowed to go in that section of town when I was growing up…south of Market st. was not the type of area you would walk alone down the street. I know it has cleaned up a bit but the “bad image” is still ingrained in my head.

  5. property tax alone is already close to 400k a year, + HOA probably 50k, security guards, 300k, close to 1M to maintain it yearly.

  6. Look closely, you can see the 4 djembe’s on the shelf. Now how the heck are ya gonna reach those when you get the urge to have a drum circle with your Billionaire-Boys-Club friends? Dang!I fold.

  7. Isn’t this a low income area of San Francisco? Amazing there would be a pent house at that price available there.

  8. Very Classy, but not worth 35mill, It will continue to sit there until the price it made more reasonable, hello? yes the economy still isnt where it should be..Ernesto, SF isnt dirty, its dirty in a sense that it has dirty areas in it but every city does, now do me a favor and have one of you friend staple your fingers together to ensure that you dont make anymore stupid comments. Thanks dear

  9. What a steal!!!!! Just think..the nation totters on the edge of a financial catastrophe, self imposed by the idiot right, trillions of unfunded pension liabilities and commerical real estate ventures will soon go a glimmering into the gathering darkness, and we have a $35,000,000 penthouse to think about….

  10. Too much open space, very commercial looking which does not give the warmth feeling of a home. For 35m , I rather buy 10 different homes around the country which makes more investment sense.

  11. “…I let you live in my penthouse: You called it a shack…
    I gave you seven children and now you wanna give ‘em back! Our love’s been nothing but the blues. How blue can you get?” – B.B. King
    A house still needs to become a home

  12. Oh boy another modern style office building masquerading as a home. If I had thirty five mill I dont think I would spend it on that place. It looks like about a thousand other places ive seen in NYC and on all of those cheesy home decorating shows. Modern is so overrated, its been done to death. I think colonial, victorian, and renaissance style is much more interesting.

  13. Awesome home. Yes, I would really love to be live up in the sky. I pass by the building almost everyday. Yes, It’s beautiful! I live around the area and I do believe this is a beautiful place, indeed. If I have this home, I would definitely have parties every weekend!

  14. SF is dirty, anyone who visited other “countries” than California can say that! Not to mention SOMA … full of weirdos, homeless, drug addicts and dealers.

    Plus, what a mindless idiot would pay $35 mil. to come out of their superluxurious penthouse into the filth of SOMA and the fog and wind and cold of SF?.. With $35 mil. you can buy a real house in Paris. for example …

  15. Gee the problem is the city it is in , Highest taxes in the country , Strung out addicts , smelly unkept streets , The homeless are everywhere , and no they don’t pay taxes The city has let herself go. $5,000,000 should be the price

  16. Stephen is on to something! It would be great to have a few houses in other parts of our great nation (West, Mid-West, East, North & South) for what you would pay for “one” house in SF! The property Tax & Maintenace could also be covered with a $35 Million Dollar EXPENSE ACCOUNT on homes that aren’t SKY SCRAPERS “or” PENTHOUSES! When I think of a PROPERTY that cost $35-70 Million Dollars…I think MANSION, ACRES OF LAND & A STAFF THAT COMES ALONG WITH THE LAVISH MANSION! What ever happened to what $35-70 Million Dollars COULD GET YOU? Is this just in Cities…states like SF, NY, CT…where the houses are “OVERLY PRICED”????
    In NC,GA,TN several parts of TX you would get a lavish ESTATE HOME in the ritzy part of town or private grounds (your choice), (Staff)Home,a guest house, Two Cabanas,a few servants AND acres of land for $35-70 Milllion Dollars.
    ENOUGH SAID!

  17. I was able to tour this property during construction. What is described in the article does not do this place justice. Even the super rich lost so very much in the crash of economy.

  18. I cannot get this place off my mind since seeing it a year ago. It would be my fondest dream to own it Come on, 20,000 sq feet of penthouse is almost unattainable ANYWHERE in the world!

    And with six limos in your underground parking space, you are NOT going to have to worry about walikng around a ‘dirty’ neighborhood.

    (Has anyone got a clue anyway, at how upscale SOMA has become)

  19. Well this usually happens with the wealth from across the globe always buying property in the top urban areas. Carlos Slim wealthiest man fin world from MExico has been buying property throughout city. Google Brats have been overpaying for condominiums. Wealth wants diversity, safety, and to live with their own.

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