Monday, March 27, 2006
For proof that sky-high prices have not robbed the San Francisco accommodation market of momentum, look no further than the St. Regis Residences.
The 102 condos were thoroughly crafted from African wood and limestone over the course of five years. Sitting on top of 277 hotel rooms, they stood higher above the ground than any other homes in the city - and had prices to match.
Starting at more than $1.5 million, the units came on the market in early November 2005. Six weeks later, 85 percent were sold. That includes all three penthouse units, which developer Victor MacFarlane bought for a probable $30 million.
In contrast, it took more than two years to sell the same percentage of luxury condominiums in the Four Seasons San Francisco after they came on the market in September 2001.
The 102 condos were thoroughly crafted from African wood and limestone over the course of five years. Sitting on top of 277 hotel rooms, they stood higher above the ground than any other homes in the city - and had prices to match.
Starting at more than $1.5 million, the units came on the market in early November 2005. Six weeks later, 85 percent were sold. That includes all three penthouse units, which developer Victor MacFarlane bought for a probable $30 million.
In contrast, it took more than two years to sell the same percentage of luxury condominiums in the Four Seasons San Francisco after they came on the market in September 2001.
posted by wilson @ 9:54 PM
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