04/19/18

San Francisco’s The Pacific condo is down to its last penthouse

The Pacific, one of the most lucrative condo buildings in San Francisco history with $300 million in sales, is down to one final unsold penthouse.

The 3,128-square-foot listing for GPH4, priced at $13.85 million, is an unfinished shell with Golden Gate Bridge views. A buyer would design and build out the interiors.

It was one of eight shell units in the 76-unit Pacific Heights project at 2121 Webster St., which opened in 2016. The gut renovation transformed the former 1967 home of the Dugoni School of Dentistry into ultra-luxury condos. Sales have closed between $1,300 to nearly $4,000 per square foot. (The school moved into a building on Second St. in South of Market.)

“We have been surprised for the better and very encouraged at the market support for the Pacific,” said Arden Hearing, managing director of developer Trumark Urban. “We would love to have more inventory, more projects like this. But really it’s the scarcity that makes the Pacific so special.”

Source
San Francisco Business Times
Roland Li

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