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Pacific building marks first sale: $8.9 million

SF Market Scoop

September 8, 2016

Pacific building marks first sale: $8.9 million

Meanwhile, in the land of very, very high-end real estate deals, the new Pacific building in Pac Heights marked its first public sale to the tune of $3,750/square foot, for a total of more than $8.9 million in all.

The brand new, ultra showy, hyper-luxe building built in the shell of a dentist’s school overlooking Alta Plaza Park started offering homes in July, and has its official grand opening in September.

The three-bed, three-bath, 2,300-plus-square-foot, sixth-floor unit that just wrapped up a sale after 41 days is the exact same one we toured back in July, complete with hand milled wood work, marble slab counters, burnished bronze mirrors in the entryway, and those custom designed windows whose singular shape made them so difficult to ship cross-country.

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And $8.96 million was precisely the asking price when the unit listed in July, so maybe the new buyer interpreted that as a take it or leave it figure. On top of the fancy-pants detail work in the condo itself, #606 also features interiors designed by Jay Jeffers, who refers to the corner unit as his “Killer Corner” project that included gold mirrors, deco chandeliers, and “blackened ash finish” on the tables.

In short, as with everything related to the building, the air of wealth and designer taste around this sale pours on as thickly as possible.

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Though the marketing pushes the Pacific as a super luxury “jewel box” building, developer Trumark Urban notes that some of the Pacific condos in the $2 million range are technically cheaper and more accessible than the Gold Rush-era mansions that dot Pac Heights…although this is clearly not the best example of that principle in action.

Number 606 was the only MLS listed unit in the building, but in a press release late Monday Trumark announced at the rest of the place is selling like hotcakes, racking up $120 million in sales from the first 15 offerings and fast tracking their plans to put the next batch of 15 condos up for sale. The building holds a grand opening in September, with move-ins at the end of that month.

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Source: CurbedSF