Condo prices in Pacific Heights hit a new high!

Condo prices in Pacific Heights hit a new high with the new construction buildings the Luxe and the Pacific. The Luxe is a 34-unit condominium building with one, two, and three bedroom homes. The building has a lobby attendant 5 days a week for 8 hours and owners lounge on the main lobby. The upper units in the back offer sweeping views from the Golden Gate Bridge to downtown and are selling for a premium. Recently 1650 Broadway #401 is in contract for $2,495,000. The unit has three bedrooms, two and a half bathrooms totaling 1487 sq./ft. On a price per square foot that is $1,677 per sq./ft. The penthouse at 1650 Broadway (PH1) is in contract for $5,395,000. It is a top floor unit with three bedrooms, two and a half bathrooms totaling 1930 sq./ft. The penthouse units open up to a 1,500 sq. ft. private terrace with extraordinary panoramic views of the bay. They also come with two car side by side parking spaces.  On a price per square foot they are selling for $2,795.

The Penthouse at the Luxe

The Pacific located at 2121 Webster is a unique product because it is the only new construction full amenity building in Pacific Heights. It is a nine-story building comprised of 76 condominiums with soaring ceilings, generous square footage and floor to ceiling windows. The penthouses at the Pacific are delivered as a shell and the owner has to custom design the interior of the unit. Rumor has it one sold off market earlier this year for $18 million. Currently 2121 Webster #606 is in contract for $8,960,000. The unit has 3 bedrooms, 3 bathrooms and totals 2,389 sq./ft. making it $3,750 sq/.ft. In addition the units don’t come with hardwood floors. So the owners need to purchase floors through the design center where they cost twice as much as you would pay if you installed them yourself. When the townhouses were first released they were priced very reasonably at $1,081 sq./ft. Now that they received offers on the townhomes and released the rest of the units the prices seem insanely inflated. Condo prices in Pacific Heights for a view unit usually sell around $1250 sq./ft. It will be interesting to see how sustainable the prices remain at The Pacific and Luxe.

Observatory Lounge at The Pacific

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