The Biggest Real Estate Bidding War Ever? SF’s Newest Starchitect Hi-Rises, Spring Events!


The Joel Goodrich International Luxury Newsletter
View in your browser

San Francisco’s Newest Starchitect High-Rises
Legendary Artist Michelangelo’s Tuscan Villa
Who Bought A $100,000,000 Penthouse?
Real Estate’s New Cryptocurrency
Tech's Real Estate Bidding War
A $180,000,000 Pied-a-Terre
Is SF In A Housing Bubble?
Spring Social Calendar
Issue 57 - April 2018
by JOEL GOODRICH

At Dolce & Gabbana's Alta Moda Fashion Show Last Weekend
NY Metropolitan Opera House

Greetings from San Francisco!

     With Spring already here, and the San Francisco market in full swing (prices are at an all-time high), I'm delighted to begin the season by representing some of the Bay Area’s most fascinating properties -- all of which reflect the extraordinary diversity of our architectural heritage, as well as our new design sensibilities for the 21st century.

This month, let's start with a quick tour of these magnificent homes, from an iconic 10,000 square foot Albert Farr-designed Piedmont mansion...
 


Piedmont Mansion by Albert Farr
www.MagnificentPiedmontEstate.com -

     To an incredible Starchitect-designed 20-acre estate in the Sonoma Wine Country...
 


Ultra-Modern 20-Acre Sonoma Estate
- www.5340GroveStreet.com -

     And an enchanting William Wurster-designed residence perched on the Northeast tip of the City's world-renowned Telegraph Hill, with Golden Gate to Bay Bridge views...
 


The View From My Telegraph Hill Listing
www.175ChestnutStreet.com -

     To a glamorous Mid-Century Nob Hill co-op in a premiere 24-hour doorman building, with walls of windows framing dazzling views of iconic San Francisco landmarks spanning two centuries -- from Grace Cathedral to Salesforce Tower, Coit Tower and the Bay...
 

Glamorous Nob Hill Residence with Dazzling Views
- Please Contact Me For More Information -

     A modernist residence in a park-like setting along the beautiful Presidio Parkway...
 


Sleek and Modern Along the Presidio Parkway
www.540FunstonAvenue.com -

     As well as a glamorous, beautifully remodeled, 4-bedroom, 3-bath Pre-War co-op on historic Russian Hill...
 


Glamorous Pre-War co-op on Russian Hill
www.2164HydeStreet510.com -

     A fabulous duplex penthouse at V20, the new development in the trendy Mission District...
 


Skyline Views from the Penthouse at V20
www.3590-20thstreet-502.com -

     And a charming pied-à-terre with world-famous views at Gramercy Tower on Nob Hill...
 


World-Famous Views from Gramercy Tower
www.1177CaliforniaStreet1530.com -

     Finally, stay tuned for an upcoming segment in a one hour prime-time special on French national television featuring a celebrity mansion I have listed in Pacific Heights -- details coming soon!
 

New Developments for SOMA
 

     One of the most frequently asked questions I get: is San Francisco at risk of being in a housing bubble?

Even with our current, very high prices, the answer appears to be no (as examined in a recent report), with the City not even ranking in the top tier of global cities most at risk -- although, interestingly enough, one of our Northern neighbors tops the list.
 

Bjarke Ingels Group's proposal for Fourth and Townsend

With projections for the market still strong, an influx of starchitect-designed high-rises continues in San Francisco's SoMa district.

The latest, and most interesting proposal, is for two abstract, tapering towers, designed by Danish Bjarke Ingels Group, at 655 4th St. The $540 million project envisions two 400-foot-tall towers along with about 26,600 square feet of commercial and retail space.
 

A Rendering of 75 Howard

     I'm excited to see that San Francisco's newest super-luxury waterfront development is breaking ground at 75 Howard (designed by Skidmore Owings Merrill.)
 

A Rendering of 75 Howard

     Condo sales there could reach $2,800 to $2,900 per square foot on average, with penthouses reaching $4,000 per square foot -- comparable to the record-high prices at The Pacific.

If interested in the project, please contact me for early access.
 

New York's Record Breaking Penthouse Sales
 

     With Manhattan condos now being purchased with Bitcoin for the first time, the use of cryptocurrency in the real estate industry is growing. In fact, a new cryptocurrency coin designed specifically for real estate just made its debut -- PropertyCoin, built on Ethereum (the 2nd largest crypto after Bitcoin.) 

It will be fascinating to see if this takes off over the next few years. 
 

A View from a Penthouse at 432 Park Avenue

     Meanwhile, plenty of record-breaking sales, paid for the old-fashioned way, are taking place in the ultra-luxury market, with the recent sale of two 91st floor units at 432 Park Avenue selling for $60 million (reportedly to billionaire hedge fund trader Israel Englander -- who also bought the most expensive co-op in New York history at 740 Park Avenue.)
 

A View from One57

     The identity of the most expensive penthouse sale in New York history (purchased in 2014 for $100.47 million at One57 ) has just been disclosed as tech titan Michael Dell, who is had it renovated by Miró Rivera Architects. Dell, whose net worth is over $23 billion, also owns a $40 million penthouse at the Four Seasons Private Residences in Boston, a $10.9 million condo in Boston’s Millennium Tower, and a large property on Hawaii's Kona Coast.
 

The Penthouse at The Crown, Reportedly Sold for $180 Million

But that record won't last much longer, with two mega-sales currently in process.

First, a five story penthouse at 730 5th Avenue (across the street from Trump Tower), is in contract for $180 million.  Bought by a European investor who owns multiple homes around the world, the 12,536-square-foot residence atop the Crown Building (which I first told you about in my May 2015 issue), includes a dedicated elevator from the lobby and its own private pool.

It is one of 26 condos Russian real estate developer Vladislav Doronin (Naomi Campbell’s former boyfriend -- more about him later), is creating at the historic building, which will also feature a swanky, 83-room Aman hotel.
 

220 Central Park South is Nearing Completion

     And of course, as the iconic 220 Central Park South nears completion this year, hedge funder Ken Griffin will reportedly take possession of the building's $250 quadruplex penthouse -- a real estate record to beat them all.

With prices so high, it's not too surprising that for a home to be on Curbed.com's list of Manhattan’s 25 most expensive listings, the minimum entry price is $45,000,000.

What a change from 2002, when The Wall Street Journal called my listing of the Tobin Clark estate at $45 million “the most expensive listing in the country”!
 

Three Revolutionary Architects
 

A Video of Vladislav Doronin and his Zaha Hadid home

     Three legendary architects are making news this month. 

First is the great Zaha Hadid, who died in 2016. Two of her final projects just completed -- an 11-story condo development at 520 West 28th Street in New York's West Chelsea, and secondly, the personal home of real estate developer Vladislav Doronin (whom I mentioned earlier.)
 

The $140 Million Capital Hill Residence near Moscow

     Called The Capital Hill Residence, the astonishing $140 million, 36,000 square foot property in a forest near Moscow, which even artist Julian Schnabel has marveled at, is the only private Zaha Hadid home that has ever been built.
 

Frank Gehry's upcoming project on LA's famous Sunset Strip

     At 89, legendary architect Frank Gehry is still hard at work, with a recent announcement that he'll design the expansion of LA's Colburn School.

Work is also underway for his major mixed-use project on the Sunset Strip, and he's starting a second project for Facebook -- a $303 addition to its Menlo Park current camps. (Here is a great look at Frank Gehry’s most iconic works showing an incredible variety of abstract forms never before seen.)
 

Jeddah Tower, designed by Adrian Smith + Gordon Gill Architecture

     Finally, 73 year old Adrian Smith is set to break records not just in real estate history but in the history of mankind, with news that his plans for the Kingdom Jeddah Tower in Saudi Arabia -- at 3,281 feet high, the world's tallest building -- can now move forward.

With an estimated completion in 2021, the $1.5 billion skyscraper will feature a perch on the 157th story (site of a proposed helipad), and showcase an entirely new type of double-decker elevator.

(Here is a fascinating list of the world’s supertalls -- surprisingly, the only US building to make the list is actually a luxury residential highrise!)
 

India's Statue of Unity

     While on the topic of record-breaking building heights, here's one of a whole other kind -- the world's tallest statue!

In the Indian state of Gujarat, Michael Graves Architecture & Design is creating a 597 foot steel-and-bronze monument called the Statue of Unity, in honor of freedom fighter Sardar Vallabhbai Patel -- described as the "Iron Man of India."
 

India's Statue of Unity

     The incredible structure, twice the height of New York's Statue of Liberty, will be finished this fall.
 

A Bold and Fearless Future

Cartier Took Over Pier 48 Last Week

     With construction of the $1 billion Golden State Warriors Chase Center underway on the San Francisco waterfront, the San Francisco Giants have just been given the go-ahead for a massive new waterfront development of their own.

Located on a 28-acre stretch of land just south of AT&T Park, it will link South Beach to Mission Bay with up to 1,600 housing units and over 1.6 million square feet of commercial space. 
 

Cartier's International Party in San Francisco

     The currently barren land is directly across from Pier 48, which Cartier took over last week to host its splashy "International Party," attended by international socialites, influencers, media -- and celebrities Jake Gyllenhaal, Liev Schreiber, Sofia Coppola, Sienna Miller, Freida Pinto, Chloe Sevigny, Lisa Bonet, among others.

The theme of the evening, "Bold and Fearless," is a great way to describe our city as it takes some big new steps into the future.
 


Aurora Station, a Luxury Hotel Orbiting Earth, to Open in 2022

     Speaking of "bold and fearless" steps for mankind -- did you hear the news about Aurora Station? A developer called Orion Span wants to create the first-ever space hotel, to orbit 200 miles above the planet, by 2022. A 12-day trip will cost $9.5 million per person.
 

A Rendering of Virgin Hotels San Francisco

     Back on planet Earth, Richard Branson was recently spotted in San Francisco, checking the progress of his second hotel -- the 12-story Virgin Hotels San Francisco -- at 250 4th Street. 
 

Rooftop, Virgin's rooftop bar and lounge

     With a ground floor restaurant, suave rooftop lounge, and space for special events, I'm sure I'll see some of you there after it opens this Summer!

Meanwhile, speculation continues on the purchase of The Armory by a developer connected to SoHo House -- will there or won’t there be a new SoHo House in the City? Stay tuned…
 

I. Magnin Union Square's Millinery Salon in the 1940s

     While hotel investments are hot, hot, hot in SF, retail space in an A+ location is an asset so valuable it's a great time to sell -- which is what Macy's is doing with its decision to sell the iconic I. Magnin building at Union Square (valued at approximately $300 million), which it purchased in 1994.
 

Christian Dior (right), and friend Andre Janney
(Photo at Fairmont Hotel, September 15, 1947)

     Architect Timothy Pflueger died of a heart attack a year before he could see the completion of his white marble masterpiece in 1948 (finished by his brother, Milton, with interior design by Neel D. Parker), but I. Magnin would become one of the most elegant buildings the City has ever known. 
 

The Sixth Floor Ladies Room at I. Magnin

     Christian Dior declared it "magnifique" when he personally visited the store three months before it opened, and even today, fans of the original design make pilgrimages to its 6th floor ladies room, which still maintains the original 1947 decor of black and green marble walls, gold-leaf ceiling, glass chandelier and floor length antique mirror doors.
 

Lana Turner flounces through I. Magnin in a fur coat
From "Portrait in Black" (1960)

     Part of our cultural legacy, I. Magnin played a part in Alfred Hitchcock's "Vertigo" (1958), and in "Portrait in Black" (1960), where Lana Turner flounces through its bronze-trimmed ground floor (with walls of Rose De Brignoles, a pink Tennessee marble floor, and silver-leaf ceiling) wearing a fur coat and turban. Before becoming an international '60s rock star, Grace Slick was even a model at the store.
 

I. Magnin's Cosmetics Floor in the 1980s
(Now the site of Louis Vuitton)

     It will be interesting to see what its next re-incarnation will be in our bold and fearless City -- but whatever happens, its sixth floor ladies room should be kept as a historical treasure!
 

Legends of Art, Music and Fashion
 

Michelangelo's Villa is Available for $7.5 Million

     This month, the glamorous world of celebrity real estate takes us back nearly 500 years, to a Tuscan Villa now on the market that has an extraordinary provenance -- master artist Michelangelo’s former Chianti estate, which is listed for $7.5 million.
 

Michelangelo's Villa is Available for $7.5 Million

     Michelangelo bought it in 1549, shortly after finishing the Sistine Chapel, and it stayed in his family until 1867. This is an opportunity like no other!
 

Billie Holiday Performed at this residence in 1956

     Jumping from the Italian Renaissance of the 16th century to the Harlem Renaissance of the 20th, the great jazz legend Billie Holiday performed at a Riverside Drive co-op in Manhattan that's just gone on the market for $3.5 million.
 

Judy Garland once lived at this Dakota residence

     At the world-renowned Dakota on Central Park West, Alice + Olivia executive Stacey Eisner and her media mogul husband Eric Eisner just bought two adjoining co-ops -- one belonging to screen legend Judy Garland and the other to pop superstar Roberta Flack
 

Judy Garland once lived at this Dakota residence

     Here is a fabulous tour of the jewel-toned home once occupied by Judy Garland, as it was later decorated by pianist, ballerina (and Studio 54 regular!) Jacqueline Bikoff -- quite a contrast to the ultra-modern minimalist décor currently in vogue
 

Villa Maria

     In the Hampton’s, the historic Villa Maria in Water Mill -- which belonged to designers Vince and Louise Camuto -- has gone into contract under its most recent asking price of $72 million.
 

Villa Maria

     Meanwhile, another fashion designer, Tommy Hilfiger, has reduced the price of his super-colorful, psychedelic Miami mansion.
 

Tommy Hilfiger's Miami home

     With a  living room that looks straight out of an Austin Powers movie with a fun swirling carpet and retro white couches and A mirror on the ceiling reflecting the entire space, it definitely has a groovy 1960’s vibe!
 

Tech's Bidding War for SF Real Estate
 

     After several years of strong leasing and job growth, our office market still managed to explode in 2017, setting a record for the most leases over 100,000 square feet (with an astounding 20 new leases of that size, mostly in the tech sector.)
 

Video Tour of Jackson Square Office Building, $11,495,000
www.325Broadway.com -

     In partnership with top commercial agent, Rich Lewetzow, I've just put a Jackson Square office building on the market. 

Constructed of reinforced concrete, the three-story property is an excellent investment opportunity in the center of a neighborhood increasingly known as “Sand Hill Road North” due its popularity with tech and VC firms.
 

Park Tower (pictured above, in the center)

     In what could be the biggest real estate bidding war of all time, Google, Amazon and Facebook are reportedly circling SF's new Park Tower -- one of the City's last empty office towers. It will be exciting to see how this plays out…

Interestingly, it's projected the strongest performing sector of the Bay Area real estate market this year will not be in office space or housing -- but industrial!

With so much going on, it's important that we remember to support our cultural and charitable organizations. I was pleased to recently support this year’s Chinese New Year Symphony -- and in this month's Social Calendar, I hope you can find a cause that interests you as well!

Among upcoming events are appearances by Joan Jett, Kim Novak, John Waters, Julian Schnabel, Jay Leno, and Randi Zuckerberg, and fashion previews by Zac Posen and Mary Katrantzou.

I look forward to seeing you soon on the social-go-round!
 

 

Joel Goodrich | Global Luxury Real Estate Advisor
Coldwell Banker Previews International
415.308.8184 | JoelGoodrich.com | BRE# 01028702

APRIL EVENTS

12 - Thursday

Zac Posen Preview

Preview the latest Zac Posen collection. Neiman Marcus, Union Square, SF, 10:00 AM to 5:00 PM, through April 13th.
 

14 - Saturday

"Bad Reputation" Screening

A screening of "Bad Reputation," abou punk legend Joan Jett. Miss Jett will be in attendance. Castro Theatre, SF, 8:00 PM.

sffilm.org
 

18 - Wednesday

SPCA Gala

Celebrate the SF SPCA's 150th anniversary. Chaired by Susan Atherton and designed by Stanlee Gatti. Honoring Governor Jerry Brown and former State Senator Mark Leno.  San Francisco City Hall, 6:30 PM to 9:30 PM.

Admission: $1,000 and up

150.sfspca.org/gala
 

18 - Wednesday

John Waters in Conversation

Noah Cowan interviews director John Waters. Bing Concert Hall, Stanford, 7:30 PM.

Admission: $5 to $40

stanford.edu
 

19 - Thursday

Carolina Herrera Preview

Preview the Pre-Fall Carolina Herrera collection. Saks Fifth Avenue, Union Square, SF, 10:00 AM to 8:00 PM, through April 20.
 

19 - Thursday

Julian Schnabel Exhibit

Julian Schnabel: Symbols of Actual Life, at Legion of Honor, through August 5, 2018.

legionofhonor.famsf.org
 

19 - Thursday

David Mamet

A conversation with Pulitzer Prize-winning playwright David Mamet, JCCSF, 3200 California Street, SF, 7:00 PM.

Admission: $28 and up

jccsf.org

 

23 - Monday

Judy Chicago Lecture

Marci Kwon speaks to artist Judy Chicago. Bing Concert Hall, Stanford, 6:30 PM.

stanford.edu
 

25 - Wednesday

The Modern Ball 2018

Celebrate SFMOMA's biggest night of the year. SFMOMA, 5:30 PM to 1:30 AM.

Admission: $6,000 and up

sfmoma.org

28 - Saturday

Easterseals Gala

The 20th annual Spring Gala in support of Easterseals Bay Area. The Palace, 2 New Montgomery, SF, 6:00 PM.

Admission: $750 and up

esba.org
 

MAY EVENTS

April 28 to May 28

SF Decorator Showcase

See how San Francisco's best interior designers transform a home in the Marina. 465 Marina Boulevard, through May 28, 2018.

Admission: $35 and up

decoratorshowcase.org
 

2 - Wednesday

Willie Brown Lecture

Willie Brown delivers the annual Commonwealth Club Lecture. 110 The Embarcadero, SF, 6:30 PM.
 

Admission: $25 and up

commonwealthclub.org
 

4 - Friday

Judgement of Paris

Jeff and Laurie Ubben host the annual Judgement of Paris wine tasting event in support of North Beach. Private Residence, 6:00 PM to 10:00 PM.

Admission: $1,250 and up

northbeachcitizens.org
 

5 - Saturday

One Home, May Hearts

The annual gala in support of Raphael House. The Palace, 2 New Montgomery, 6:00 PM.
 

Admission: $350 and up

bidpal.net

 

9 - Wednesday

John Doerr

John Doerr, the chair of Kleiner Perkins Caufield & Byers, talks about his new book: Measure What Matters. Santa Clara Convention Center Theatre, 5001 Great America Parkway, 6:15 PM.
 

Admission: $25 and up

commonwealthclub.org

12 - Saturday

LymeAid 2018
 

Bay Area Lyme Foundation’s 6th annual benefit dinner and live concert, with Jay Leno as Master of Ceremonies and musical guest Chris Isaak. Private Residence, 5:00 PM.
 

Admission: $1,000 and up

bayarealyme.org
 

16 - Wednesday

Mary Katrantzou Fashion Show

Parca Auxiliary hosts its 30th Annual Luncheon and Fashion Show, with guest appearance and Fall 2018 fashion show by Mary Katrantzou. Private Residence, Hillsborough, 11:00 AM to 2:30 PM.
 

Admission: $200

parca.ejoinme.org

16 - Wednesday

Ehud Barak
 

Former Israeli Prime Minister Ehud Barak speaks about his new memoir, My Country, My Life. JCCSF, 3200 California Street, 7:00 PM.
 

Admission: $28 and up

jccsf.org
 

20 - Sunday

Tribute to Kim Novak

Screen legend Kim Novak to make an extremely rare personal appearance, and speak to TCM's "Czar of Noir" Eddie Muller on the making of the Alfred Hitchcock's "Vertigo." Castro Theatre, 7:00 PM.
 

Admission: $25 and up

ticketfly.com
 

21 - Monday

Simon Winchester
 

Historian Simon Winchester speaks about his new book, The Perfectionists. The Commonwealth Club, 110 The Embarcadero, Noon.
 

Admission: $15 and up

commonwealthclub.org
 

23 - Wednesday

Ink Worlds

The opening of Ink Worlds: Contemporary Chinese Painting from the Collection of Akiko Yamazaki and Jerry Yang. Cantor Arts Center, Stanford, 11:00 AM to 5:00 PM, through September 3, 2018.

stanford.edu
 

24 - Thursday

Randi Zuckerberg
 

Randi Zuckerberg speaks about her new book, Pick Three: You Can Have It All. The Commonwealth Club, 110 The Embarcadero, 5:30 PM.
 

Admission: $20 and up

commonwealthclub.org

 


Chenery House, Available for $10,250,000
www.47CheneryHouse.com -


World Class Piedmont Estate for $7,500,000
www.MagnificentPiedmontEstate.com -


The Bransten House for $7,495,000
- www.1735Franklin.com -


Rare Telegraph Hill Residence for $6,500,000
- www.175ChestnutStreet.com -


Modern Sonoma Estate $6,500,000
- www.5340GroveStreet.com -


Three Mendocino Inns & Residence $5,385,000
www.JoelGoodrich.com -


Modern Home on Presidio Parkway for $4,375,000
www.540FunstonAvenue.com -


Beautiful Pacific Heights Home for $3,895,000
www.2517OctaviaStreet.com -


Financial District High Rise, $3,195,000
www.333BushStreet4103.com -


Eastlake-Style Victorian, Asking $2,495,000
www.2825PineStreet.com -


Luxurious Mission District Penthouse $2,250,000
www.3590-20thStreet-502.com -


Financial District High Rise $1,250,000
www.333BushStreet3702.com -


Chic Nob Hill Condo for $838,000
www.1177CaliforniaStreet1530.com -

Listings Presented by Joel Goodrich | Coldwell Banker Previews International | 415.308.8184

BRE# 0102870 | www.JoelGoodrich.com



Coldwell Banker Previews International
1560 Van Ness Avenue

San Francisco, CA 94109

Add us to your address book



unsubscribe from this list    update subscription preferences