In the November 2-8 edition of the SF Business Times, J.K. Dineen wrote about the Millennium Towers condominium project. In the article, Dineen said, "Millennium Partners is not satisfied building the tallest residential tower on the West Coast. The developer wants the priciest one as well."
The price per square foot for the units will be the highest in San Francisco and will approach prices in New York City. Dineen reported that there will be four penthouses on the 59th and 60th floor whose price per square foot will hover around $2,150. With each penthouse ranging in size from 5.500 to 5,800, the asking price for each penthouse will be approximately $12 million. He further reported that on floors 49 -58, the condos will range from $3.3 million to $6 million, an average of $1,670 a square foot. From 26-48 pricing goes from $2 million to $3.25 million or $1,375 a square foot. The bottom 25 floors at $1,100 a square foot are higher than 1 Rincon Hill which averaged $1,025 he furthered reported.
The Millennium sales people argue that this pricing is justified by recent resales in their other projects, The Four Seasons and the St. Regis.
We will see.
The sales office opened on November 8th.
Check back for more info on this project.
Sam Vitkoski
SoMa Specialist
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