Right when we’re about to fill you all in as to some records the Millennium might be setting (we’re talking price per square foot of an empty shell sold), the Chronicle goes and scoops us (at least we know they’re working). Not to fear, if you’ve been reading theFrontSteps for a while you would have known about this penthouse sale way back in November when we said,
one of those sales is a 60th floor penthouse unit that happens to be 645 feet above ground, with ~4700 square feet of empty shell (meaning the owner can do with the interior as they please), a 580 square foot terrace, views to die for (more on that later), and a $10-12M price tag, or more than $2,000 per square foot. Whether it is true, and whether it is $10M or $12M… we leave to your imagination
Regarding that record, if memory serves our sources correctly, the developer of the Four Seasons sold a unit in shell condition (5700 square feet) for $10M about 6 years ago. That is $1,754 per square foot. Perhaps a more current comparable, but not as high was the 3 units together at the St. Regis, penthouse, with terraces surrounding that sold for $27M and contained 17,000 square feet, or a price per square foot of $1,588.
So if the Millennium penthouse sold for $2,288 per square foot, is that not a record?
–Millennium rising and selling rather quickly [theFrontSteps]
$2,200+/sqft is definitely a record. Just 2-3 years ago, remember how we were amazed that The Infinity and ORH were getting $1,000-$1,200/sqft? I also remember in 2002, it was amazing to get $600-700/sqft. The high-to-higher end market, and the unbuildable areas in northern parts of SF have really done very well.
I just got back from Tahoe. Packed as hell! Relatively warm, so the snow coming this week is going to be quit welcome.
RSC
not to me it isn’t. de shaw bought 5/6 units for his parents in one of our towers over here at 88 king street years ago for more that that.
this is old hat!
;)
It’s not a record.. Remember Billy Getty’s apt in Royal Towers sold for 15 million in 1999, or 2727 per foot.
However, the buyer will need to spend an additional 5 – 10 million just to create this space at the Millennium. Should be interesting.
Sleepiguy,
Was that a finished apt or shell space? The record we’re looking for an apt that is sold without walls, no kitchen, no nothing. Just the shell.
The roof of a penthouse at the millenium is actually 635 ft. — from Mission St. According to their information, the last 10 ft. — to reach 645 ft. — will be an antenna.
alex,
i think de shaw still wins. he paid about 9 mil for those 5 finished units and then demolished them to join them together. someone did this to several units at the brannan as well. i bet they could be close to this record too.
i heard about what happen nice try tom i know kgo 7 and bars and restrunt i know your son not not very nice what u did ..zax how do u like your knew place milluiuim ha ..zax..or your new resrtunt 1000 years peace uh more like a big fat wedding for u and i have something in mind