$49 Million Penthouse Breaking San Francisco Real Estate Records
March 04, 2015 - San Francisco
A roughly 15,000-square-foot penthouse apartment in an under-construction tower in San Francisco is listing for $49 million, a price that may set a residential real-estate record for the city.
Located on the 41st and 42nd floors of one of two new towers collectively called the Lumina, the unit will have 20-foot-tall ceilings in parts of the apartment along a curvilinear wall of glass overlooking the Bay Bridge.
The unit will also include two kitchens, eight terraces that cover 1,200 square feet and private access to a rooftop deck. There will be five bedrooms, five full bathrooms and two half-baths.
The buildings, with a total of 656 units, are in the city’s South of Market district and are expected to be completed in summer 2016. Prices start in the $2 million range for two-bedroom units. The developer is Tishman Speyer.
The listing agent, Gregg Lynn of Sotheby’s International Realty, said the price sets a record for San Francisco.
Sales began in the last quarter of 2014 and roughly 200 of the 656 units are under contract.
About 80% of buyers so far have been local to the area, Mr. Lynn said, noting that the booming tech industry is fueling the sales.
Residents will also have access to building amenities like a fitness center and a mobile-app service that delivers organic groceries, Mr. Lynn said.
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