Maximum Luxury is a weekly column about the most expensive properties for sale in San Francisco, motivated entirely by idle (but irrepressible) curiosity.
The flashy condos at 2121 Webster Street broke ground back in 2014, and the 76-unit, Handle Architects-designed hub sold its first home in 2016, to the tune of $8.9 million.
However, the newly advertised penthouse is only just now finishing construction and coming in hot, listed for $24.5 million for the five bed, 5.5 bath setup.
Once upon a time, this building was a dentist school of all places; when it closed down it presented a rare full-block property development opportunity in swanky Pac Heights, which developer Trumark Urban leapt on, emptying out the shell of the original building and creating this hyper-luxe suite of suites overlooking Alta Plaza Park.
At opening, home ranges from $2 million to $20 million, and the developer was persistently bullish on their prospects despite chatter about the softening condo market. (There’s always chatter about a softening condo market.)
Since then, out of 45 public listings, 35 have ended in sales; the median list price in the building is more than $3.97 million, with the median closing price sliding in a little under that at $3.89 million.
But none of those $20 million top-dollar units sold–the biggest sale in the building thus far was $11.75 million.
Off-market sales have risen as high as $15 million for one home, but still nothing quite as ambitious as this new penthouse offering, which, being right out in public, we can all keep an eye on in the meantime.
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