301 Mission Street Grand Penthouse A

Purchased as a shell for $9.35 million in 2009, the late venture capitalist Tom Perkins spent another $9 million building out the Grand Penthouse A atop the sinking Millennium Tower. And the 5,000-square-foot lair, which is configured as a two-bedroom, with a 3,000-square-foot great room and rooftop terrace, has traded hands for $13 million or roughly $2,600 per square foot.

The buyer, a former Oracle executive, owns another unit in the tower and is betting that the building’s tilt will soon be repaired and remain habitable, noting: “I’m willing to take whatever risk there is to benefit from a depressed environment.”

Recent Articles

Comments from “Plugged-In” Readers

  1. Posted by Paul Hwang

    I checked this unit out a couple of months ago, unbelievable finishes. The interior is an EXACT replica of the insane $130 Million Super Yacht Maltese Falcon Tom Perkins built. The clock on the wall in the pic: a technician from Switzerland flies in once a year to maintain it!

    • Posted by jlasf

      Considering there may be some swaying back and forth, perhaps replicating the yacht was a good idea.

    • Posted by condoshopper

      “a technician from Switzerland flies in once a year to maintain it!”
      due to the pendulum being out of plumb?

    • Posted by The Milkshake of Despair

      A clock requiring thousands of dollars in annual maintenance is hilarious. Especially when it an be outperformed by a 79 cent digital timepiece that requires no maintenance.

      Maybe that is an indication of the skewed values at this level of the stratosphere.

      • Posted by Brian M

        One can ask: Why do we need a digital timepiece when we simply watch the sun?

        One can argue that ALL of our values are skewed. Or, if not skewed, simply unconscious. Especially if one thinks about the environmental destruction and the labor exploitation needed to create an economy that can give us a cheap 79 cent digital watch?

        • Posted by The Milkshake of Despair

          Maybe you have sun reading superpowers but I can’t read the time via the sun with enough precision to know whether or not I’ll make an appointment. As for a 79 cent timepiece, that low cost is mostly due to Moore’s Law and advances in integrated manufacturing, not labor exploitation. You could build the same with USA union labor for maybe $5.

          • Posted by Orland

            And that’s not a measure of exploitation?

          • Posted by The Milkshake of Despair

            Maybe exploitation can explain some of the difference. Other factors include local cost of living, taxes, and perhaps overhead introduced by labor unions.

            But that’s not the point I was making. Just reread my original comment and substitute $5 for 79 cents to remove the orthogonal issue of globalization.

        • Posted by Tom

          Great point, Brian.

  2. Posted by asiagoSF

    that 3,000 sq ft grand room looks perfect for marble runs! no wait…

  3. Posted by Snowbored

    I’d like to applaud the editor for not subtly tilting the photo. I’m not sure I could have resisted.

    • Posted by Torger Cobus

      The photo is tilted. That’s why it looks level.

  4. Posted by Nate

    Is he betting that the tilt will be repaired? Or that the tilt won’t get much worse and won’t matter? The latter is how I understood the situation. I was under the impression that it was only a problem if it got a lot worse.

  5. Posted by Amewsed

    I would think the repairs (if they could be done at all) would not be sufficient. Building is prematurely settling and tilting. That in itself calls for a tear down. With SF in an earthquake zone, how much more to make the building safe?

    So this is a gamble for the buyer involved. I would rather be the owner selling at a discount, than a buyer at a discount. That’s just me since I don’t have $13M to completely lose or tie up in multi-year litigation.

    • Posted by Mark F.

      How would you tear down a building of that size? The mind reels. You can’t possibly do a controlled demolition due to the location.

      • Posted by Amewsed

        Battle of the experts @ trial. Each side will have their experts testify as to the structural integrity of the building, proposed repairs, etc. One side will argue it is a tear down at X cost, the other will say it can be repaired at Y cost. Meanwhile, the building continues to settle and tilt. You already got hints of the possible expert testimony outlined in the L.A. Times article.

  6. Posted by Wahrheit macht frei

    I wouldn’t buy anything from an Oracle exec. In two years his goons are gonna show up and demand another $5M based on “usage”.

  7. Posted by pablito

    “repaired”? Maybe. But it seems a lot more likely this is going to end up like the 47 story Harmon Hotel in Vegas last year. Demolished. I have not read one credible idea on something like this could be “repaired”.

    Hopefully there is not an earthquake anytime soon or it will be the taxpayer’s picking up the tab to clean-up this millionaire’s folly.

  8. Posted by Tom

    It’s amazing how uninformed SocketSite readers appear to be on the Millennium tower issue. Misinformation and bad jokes is all I see here.

    [Editor’s Note: Please feel free to lead by example or simply follow the link above to the more serious discussion with respect to the tower’s stability and situation.]

    • Posted by Tom

      As published here on SS and else where, the tower is structurally safe, but it seems a few of the above readers struggle to grasp this. They are suggesting “it’s a tear down”.

      • Posted by pablito

        “structurally safe” for now maybe. But what about tomorrow or next year? My understanding is the engineers report says that the bottom of the building will be stressed by a seismic event.

  9. Posted by Eddy

    Smart buy. Kinda like buying a used VW desiel. Whatever problem exists will certainly be resolved at the taxpayers expense. Also, this sale undermines anyone claiming zero value for tax purpose.

    • Posted by curmudgeon

      this i like, from the perspective of a citizen of San Francisco who wants city services funded through tax receipts.

  10. Posted by Conifer

    We visited Perkins in this apartment, and it was striking, especially the views, but also some of the “art” he had collected. It is hardly a place to call home, however, or even one home among many. It feels like a large lounge or lobby of a contemporary hotel. For $13m, one could buy a very nice house or a large apartment in an older building. This really felt like a place for an aging bachelor to seduce much younger bimbos. Trump might like it, although it is not gaudy and had no gold faucets.

  11. Posted by Conifer

    According to the Chronicle, quoting WSJ, the buyer is Craig D. Ramsey.

Add a Comment

Your email address will not be published. Required fields are marked *