November 3, 2008
The One Rincon Hill Design(s) For The 60th Floor Of Tower One
It was a month ago readers were plugged in to the scoop that all four One Rincon Hill 60th floor penthouses were back on the market. And while individually they might have priced out at just under a collective $13,000,000, according to plugged-in tipster the full 5,900 square foot floor is now being offered by the sales office for $14,000,000 with one potential floor plan above (click to enlarge).
Shaking your head at the back to back second and third bedrooms? Think you could do better? Feel free to send your designs our way. Credit (or anonymity) guaranteed.
∙ The SocketSite Scoop: Four ORH Penthouses Back On The Market [SocketSite]
First Published: November 3, 2008 7:50 AM
Comments from "Plugged In" Readers
I'll take it, I always wanted a nice view for my grand piano.
Posted by: High Rise Harry at November 3, 2008 8:21 AM
$2373 per sq foot for those lazy enough to pull out their calculators. I thought you are getting a discount when buying in bulk!
Posted by: Ngrk at November 3, 2008 9:03 AM
Um, you must be kidding. No deeded parking for $14,000,000?
Posted by: um at November 3, 2008 9:08 AM
Huge views of the freeway and gas-station. No thanks, give me 14 M and I can get you better,and with a parking spot.
[Removed by Editor: valet is not the same as “no” parking. And in fact, this configuration would likely come with 4+ spots. And something (or someone) tells us there’s probably room for negotiation.]
Posted by: jessep at November 3, 2008 9:14 AM
The 360 degree views from the 60th floor on top of a hill are amazing, not sure what freeway and gas station you are referring to. Several landmarks are visible such as Alcatraz, Transamerica Pyramid, Golden Gate Bridge, Bay Bridge, 4 other Bridges, Ferry building as well as a couple of larger ones named, the Pacific Ocean, Mount Diablo, Mount Tam, and beautiful Fremont.
Posted by: Paul Hwang at November 3, 2008 9:34 AM
Sales pitch: "it's four-of-a-kind!" :)
As our armchair astronomers know, when the star's hydrogen is gone, its helium burns much hotter.
Posted by: dub dub at November 3, 2008 9:34 AM
who puts their club room right next to their wine cellar? for $14 million, i'd expect it to be adjacent to the salon.
Posted by: lefty at November 3, 2008 9:59 AM
Has anyone confirmed whether the sales office will be delivering as a shell or actually be delivering completed?
I am assuming their suggest floor plan above is just that... suggested. Someone correct me if I am wrong.
On a side note, not a bad floor plan with the exception of bedroom 2 and 3.
And the editor is correct 4 valet spots at least. Room for negotiation, of course.
Posted by: Ryan at November 3, 2008 10:04 AM
Not the way I'd do it. The media room facing west? So if you're watching a game in the summertime, you're dealing with all that glare?
Plus neither of the two guest bedrooms are in-suite and are right next to each other? Why do people hate their friends and relations so much? (I am assuming no one is going to make this a family home.)
If I had 14M to spend, there's a lot nicer and more practical if you're willing to trade off having only one nice view instead of a 360 degree one. This is the kind of property that would make a great corporate entertaining space, but again, each bedroom needs an bathroom!
Posted by: kthnxybe at November 3, 2008 10:09 AM
Valet parking is not "no parking", but it is also not "deeded parking". How does that sound?
When you say 4 spots, do you mean 4 deeded spots? If that's true, then nevermind.
Posted by: jessep at November 3, 2008 10:20 AM
Bitter, bittter bitter.
Posted by: sf at November 3, 2008 10:30 AM
well, if you have 14 million, do you think you even care if the parking is deeded or not? come on.
people like to talk, like to hate but can't afford to participate. make sure you wave HI when you are stuck on the freeway back to the eastbay.
Posted by: fng at November 3, 2008 10:34 AM
Interesting point about the media room. But the light will be coming from the side.
Also, the media room will be used mostly in the mid-afternoons all the way to the night. You gotta love those sunsets on Mt Davidson/Twin Peaks/GG bridge/Pacific Ocean depending on the season.
Apart from that, the floor plan is whatever you can do with a new building "Donut" shape. A bit too much like an office building for me. The Gallery is great idea. How high are the ceilings?
Posted by: San FronziScheme at November 3, 2008 10:45 AM
Having very recently been in 6001 [the unit facing the bay bridge] I can say that this is still very much a suggested floorplan, as all four units on the 60th floor are still currently 'separate' and [I'm assuming] each one still have their own kitchens in place. If and when someone does opt to buy this space, I believe they will be able to design it any way they please. Accordingly, the above plan is probably just a suggested layout.
By the way, the views, while amazing, are dizzying ... not for people with even mild vertigo.
[Editor's Note: A Few Picture Postcard Views From The 59th Floor Of One Rincon Hill.]
Posted by: Recent ORH buyer at November 3, 2008 10:57 AM
Umm, excuse my ignorance but what is a "Club Room"? It seems like they worked really hard to come up with various different types of rooms to fill up this space -- nicer bedrooms would seem to be a better use of space. It all seems a bit unnecessary, but then people who can plop down $14MM for a place to live undoubtedly have a different lifestyle than me.
Posted by: NoeNeighbor at November 3, 2008 11:29 AM
A "club room" appears to be a space big enough to put a pool table but not big enough to actually play...
Posted by: toni at November 3, 2008 11:55 AM
The building may have been very innovative structural engineering, as written up in the Chronicle but all these columns are a pain...
Posted by: flaneur at November 3, 2008 12:08 PM
looks too "busy" with no open spaces, and you have to zig-zag your way through narrow spaces created by the walls and furnitures to get anywhere, and there's no hallway to bypass the master suite so one would have to walk right through the master bed or else walk full circle. not that i could ever afford it though.
Posted by: condoshopper at November 3, 2008 12:19 PM
just coming up with the cash and floorplan is not the only hurdle for combining these units. The new owner would also have to convince the Planning Department and possibly the Planning Commission to get permission to demolish three housing units and merge them into one.
Posted by: realist at November 3, 2008 1:13 PM
The real estate tax on this unit is over $160,000 per year. That's probably more than the average cost of a house in 80% of the U.S.A.
Posted by: Jack M at November 3, 2008 1:21 PM
It would probably be more realistic to go the other way and offer eight small units since price appears to be the biggest factor keeping these from moving in the current market.
Posted by: Mole Man at November 3, 2008 1:57 PM
These layouts are actually surprisingly difficult to do post construction. You have very little flexibility in locating plumbing fixtures. Drains are set in the concrete floor so you are pretty much limited to the ones you already have. Toilets are the worst. Because they have special drains, called waste stacks, they really can't be moved at all. This means that bathrooms and kitchens can't just be put where you want them. You really are at the mercy of the original plan.
Plus there is a lot of stuff, mostly plumbing vents, that has to pass through the 60th floor from the floors below on its way to the roof. I'd venture that much of what appears to be structural in the proposed layout is actually vent stacks and other non structural items that, nevertheless, can't be moved.
I think that the proposed layout is there more as a feasibility study than as a serious proposal. The buyer would no doubt bring in his/her own architect. I'm also assuming that the price is negotiable. Off the top of my head I'd say the developers would be happy to get 10M.
Personally I'd prefer to be a little closer to the ground.
Posted by: Salarywoman at November 3, 2008 2:16 PM
If you are this high up in a tower, will you feel the building sway in high winds? If so, it could make for a very amusing game of pool.
Posted by: jlasf at November 3, 2008 2:48 PM
I am scratching my head...
If there are no buyers for 1/4 of the floor at $2 mill, why would there be a buyer for 4 times that at $14 mill?
And if there were such a buyer...
Would they really want to share the elevator with the hundred or so renters of one bedrooms currently living there? Then stand around waiting for the valet to bring their car(s) around in the morning?
One thinks not. It ain't the St. Regis, honey.
Posted by: MBPioneer at November 3, 2008 3:29 PM
That hedge fund manager on the top floor with his/her 14 mil condo could gain invaluable insight into the joe sixpack one bedroom SF market on the way up and down the elevator each day.
Posted by: anon at November 3, 2008 3:47 PM
Yes because Joe Sixpacks live in One Rincon Hill :-[ Jesus some of you need to leave SF for ONE DAY...
Posted by: sf at November 3, 2008 4:01 PM
It should be easier. They're looking for one rich impulse buyer instead of 4.
Posted by: San FronziScheme at November 3, 2008 4:10 PM
Personally, I like the open kitchen. Makes it so much easier to keep an eye on the staff.
Posted by: BobN at November 3, 2008 5:30 PM
I just dug this up... Hard to read the comments. What were we thinking?!
Posted by: Ryan at November 3, 2008 9:08 PM
Haha. Here's my contribution to the discussion back then:
Probably a nice building, but the location! I can't believe anyone would pay $1000/sq ft to live at the entrance to the busiest bridge in the US.
I'll go out on a limb and say this is the proof the boom is over, the one last blowout before we stagnate.
I've also called it the pets.com of SF real estate.
I guess I was right.
Posted by: Mike at November 4, 2008 8:37 AM
Well, this is my first comment regarding the market and I am compelled to agree with the notion that the people who bailed on the penthouse units are making a huge mistake and I don't think it is because of lending restrictions. I think One Rincon is going to be a big suprise to everyone for future values and I am starting to take clients over there more often. If anyone is interested in investing together on that penthouse, I can raise some money and we can develop an LLC. This will be the hottest property in SOMA one Day.
Posted by: Paul Lobosco at November 4, 2008 11:04 AM
This building is full of transplants. No real San Franciscan would live in ORH. (Of course, real San Franciscans are about 5% of the population now anyways.) It's too bad this building made it through the planning commission - as it is renowned as an eyesore from vistas all around town.
Posted by: Mike at November 4, 2008 1:20 PM