Purchased for roughly $30,000,000 as a raw shell in 2005 by local real estate developer Victor MacFarlane, listed for $70,000,000 in 2008, and last asking $49,000,000 having finished an uberexpensive five year renovation, the 20,000 square foot penthouse atop San Francisco’s St. Regis at 188 Minna has been deeded back to Bank of America in lieu of foreclosure and is returning to the market priced at $35,000,000.
As a prescient plugged-in reader wrote in 2009: “I wonder if this place will win the prize for, “Most expensive foreclosure in the city.” That would be a bingo!
Full Disclosure: The co-listing agent for the penthouse atop the San Francisco St. Regis advertises on SocketSite but provided no compensation for this post.
∙ St. Regis Penthouse Asking $70M: Is San Francisco All Growns Up? [SocketSite]
∙ First Peek Inside The Finished St. Regis Penthouse Atop 188 Minna [SocketSite]
∙ Going Up: St. Regis Penthouse Construction Nearly Complete [SocketSite]
∙ Inside The St. Regis Penthouse: The Rendering Scoop And Details [SocketSite]
∙ St. Regis Penthouse Now $21,000,000 Off (And No, That’s Not A Typo) [SocketSite]