From Luxury to Ultra-Luxury Condos in SF
Luxury has a certain ring to it in the condo world, and sparks up visions of design and amenities that include, …well, everything you can think of. However, luxury is not enough these days in San Francisco, where the trend to bring in the most well heeled buyers in condos is now ultra-luxury.
The newest ultra-luxury development is One Steuart Lane, which just took shovels to ground at 75 Howard Street. The tower will be home to 20 stories of 120 condos, with each needing to bring in at least $2.5 M for the developer to recoup costs. That works out to $2500 a square foot which is twice what a “luxury” condo goes for now in SF. The site has panoramic views of the waterfront, and Ben Kochalski, of the John Buck Co., said in an interview with bizjournal.com, “One Steuart Lane is going to be an elegant addition to the already beautiful skyline of San Francisco that will be the best-in-class residential building in the city.”
One Steuart is viewed as the last major residential development opportunity in the Embarcadero area.