San Francisco’s Most Iconic Future Landmarkg, The $1 Billion Listing, Summer Events!


The Joel Goodrich International Luxury Newsletter
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A Sneak Peek at The City’s Most Iconic Future Landmark
See the World’s Most Expensive Neighborhood
Inside Manhattan’s Crown Penthouse
Freds Comes to Barneys in SF
The Billion Dollar Listing


Issue 59 - August 2018
by JOEL GOODRICH

Filming a Segment for NBC to Promote 1945 Franklin Street

     Greetings from our beautiful City-by-the-Bay, San Francisco!

     With the media's never-ending fascination with luxury real estate, I've recently had the privilege of exposing my client's properties to a wide range of outlets -- with a filming for NBC Television, and appearances in SFGate, CURBED, LA Times, Town & Country and the Wall Street Journal’s Mansion Global.  It’s been a busy summer!
 

Speaking at Inman's Agent Connect Conference in Juy

    This month, the newest listing I'm delighted to represent is a stunning four-bedroom, four-bath loft-like residence in one of Nob Hill’s most iconic Park Avenue-style doorman buildings -- The Francesca.
 


SOMA Loft Style Meets Nob Hill Glamour
www.850PowellStreet104.com -

     With a transitional-modern 21st Century remodel that artfully compliments the building's original design details from 1923 (a gorgeous carved-wood front door, coffered and beamed ceilings, and original fireplace), the residence caught the eye of design expert Emily Landes, who wrote about it for a fascinating article at SFGate.com
 


SOMA Loft Style Meets Nob Hill Glamour
www.850PowellStreet104.com -

     The style was inspired by some of the world’s great restaurants, such as Michael Mina’s RN74 in San Francisco, and Buddha Bar in Paris.
 


SOMA Loft Style Meets Nob Hill Glamour
www.850PowellStreet104.com -

     I'm delighted to be representing architecturally significant properties such as these -- many of which provide views of the world-renowned landmarks that make the City so special.

And speaking of landmarks, read on for a glimpse of what's to come...
 

The Golden Gate Flyer
 

The Golden Gate Flyer

     In what is poised to be San Francisco’s more iconic future landmark, plans are in the works for a gigantic, futuristic 700 foot high Ferris Wheel on Treasure Island called the Golden Gate Flyer -- a stunning addition for an island that, at the peak of its glory, was home to the world-famous 1939 Golden Gate Exposition.  

Our version of the famous “London Eye," it will be the world's tallest observation wheel!
 

The Golden Gate Flyer

     Founder Gordon Crespo conceived of the project as a way to raise money to build more affordable housing in The City and the Bay Area (as much as $100 million in additional housing annually).

A flight in one of the 36 luxurious state-of-the-art capsules will provide a glorious, 360-degree panorama of the entire Bay Area -- one of the most beautiful views on the planet.

As described by planners: “Since 1873 visitors to San Francisco have ridden our cable cars halfway to the stars (as made famous in Tony Bennett’s immortal song 'I left My Heart in San Francisco'), and now our guests will fly close enough to those stars to nearly touch them..."

So fasten your seat belts, this will be one of the most spectacular rides in the world!
 

Previews of the New SF
 

     From Treasure Island to Civic Center, the Presidio and others, many of the City’s neighborhoods are on the verge of some dramatic changes! 

Here are some the most recent developments to make headlines.
 

The Presidio

Fort Scott

OpenAI campus -- backed by Sam Altman, Elon Musk and Kilroy Realty -- is one of the three proposals under consideration for rehabilitation of up to 22 historic buildings at Fort Scott, tucked into the northwest corner of the Presidio.

It's the largest redevelopment opportunity left within the national park.

socketsite.com
 

Mid-Market

Asian Art Museum

From the Asian Art Museum’s $90 million expansion (here’s a sneak peek at the latest renditions), the groundbreaking of Shorenstein Properties' 304-apartment development at 1066 Market, Proper Hotel's snazzy new rooftop club, plans for a re-do of Civic Center Plaza, and construction of Trinity Place’s massive new apartment building at Market and 10th, the transformation of the Mid-Market area is gaining momentum.

bizjournals.com
 

Central SoMa

8,320 New Housing Units

In the next few months, the City is poised to approve the long-awaited upzoning of around 230 acres in the Central South of Market district between Second and Sixth streets, from Howard to Townsend.

Projects totaling 8,320 homes and 8 million square feet of office space with towers up to 400 feet tall will make this one of SF's densest neighborhoods, with more people per block than Paris and Barcelona.

bizjournals.com
 

India Basin

1,575 New Housing Units

A whole new neighborhood is springing up on the South Waterfront: India Basin.

The $1 billion development promises up to 1,575 homes and 150,000 square feet of commercial space, with new roads and parks.

bizjournals.com
 

The Embarcadero

One Steuart Lane

What may be the last major ultra-luxury waterfront development in San Francisco has just broken ground at the Embarcadero. 

Called One Steuart Lane, the 20-story tower will cost around $300 million to develop and will be designed by Skidmore, Owings & Merrill.
 

Nob Hill

Grosvenor Nob Hill

At the crossroads of the City at California and Powell, on venerable Nob Hill, ground just broke at the new 44-unit building designed by Robert A.M. Stern (known for some of Manhattan’s most super-luxe developments, such as 15 Central Park West, 30 Park Place, and 220 Central Park South), in collaboration with Champalimaud.
 

     Here is a great overview of the City’s ten most expensive current construction projects (totalling $9 billion), and a map, showing the supertall towers, office projects, hospitals, industrial development and R&D campuses as well as retail, arts and maker spaces that will reshape how the city works, travels and hosts.

Barneys New York in San Francisco

     As a follow-up to my overview of upcoming restaurant openings in Union Square, I can confirm that the 6th floor of Barneys New York will soon become a top new destination in the area!

A Barneys representative responded to an inquiry from my office about their plans. "We are currently in the final stages of construction, and Freds San Francisco is scheduled to open in early September," they said.

Great news for the downtown retail scene!
 

In New York, a Sandcastle and a Crown
 

Sandcastle in Bridgehampton is asking $49,995,000

     with the Hamptons a top destination for the last days of Summer, the area's househunters have a glamorous new listing to consider -- Sandcastle.

The extravagant 17,000 square foot home which was once rented by Beyoncé and Jay-Z is now on the market for nearly $50 million.
 

Beyoncé and Jay-Z's $26 Million Georgica Pond Home

     Speaking of the Carters, Dan Rattiner's dishy piece about the Hamptons reports "the fur will fly" now that the neighbor of their recently purchased $26 million Georgica Pond estate wants to build a house that would block part of their view!
 

Ian Schrager's 160 Leroy

     Meanwhile, in Manhattan, e-commerce billionaire Michael G. Rubin is reportedly paying $43 million for a penthouse at 160 Leroy, Ian Schrager's new development designed by Herzog & de Meuron, making it the most expensive residence sold south of 14th Street.
 

The Crown Penthouse is asking $73,800,000

     Another penthouse in the news is the Crown Penthouse, designed by Pembrooke and Ives, which had been listed for $68.5 million when I first wrote about it in October 2016 when still under construction.
 

The Crown Penthouse is asking $73,800,000

     With construction finished, it's now listed for $73.8 million. The lavish three-story residence atop 212 Fifth Avenue (built in 1913, it's one of New York's first skyscrapers), offers over 10,000-square-feet of indoor living space, 5,730-square-feet of terraces, and a ballroom.
 

The Frick Collection at 1 East 70th Street

     Another iconic New York landmark from 1913 is about to get a dramatic transformation -- the Frick Collection.  Its new expansion has just been approved by the Landmarks Preservation Commission, with construction starting in 2020.
 

12 East 69th Street Townhouse, Asking $88 Million

    One of Manhattan most historic mansions is on the market -- again -- for $88,000,000.

Designed by William Bosworth, a Gilded Age architect who’s most famous for the restoration of Versailles (more on that later!), and for building Kykuit, the Rockefeller family’s estate, the 20,000 square foot residence appeared in my January issue when it was in contract for $80 million.

As that deal fell through, the record remains unbroken for New York's most expensive townhouse -- Russian billionaire Len Blavatnik's $90 million mansion at 19 E. 64th Street -- and 12 East 69th Street awaits a fabulous new owner...
 

Fashion, Jewels and Homes of the Queens
 

Portrait of Marie Antoinette, Circa 1775

     Along with the boom in high-end real estate, collectables such as fine jewelry are seeing unprecedented levels in value as seen in the intense interest in the upcoming auction of Marie-Antoinette’s jewelry.
 

Queen Marie Antoinette's Diamond and Pearl Pendant
Estimate: $1 to $2 million

     One of the most important royal jewellery collections ever to come to auction, The Royal Jewels from the Bourbon Parma Family will be shown in eight cities before being auctioned in Geneva on November 12.
 

Le Petit Trianon

     Queen Marie Antoinette resided, of course, in one of the world’s most valuable pieces of real estate -- the Château du Petit Trianon, used as her private getaway on the grounds of the Palace of Versailles.
 

Princess Grace Kelly at Versailles, 1973

     Speaking of Versailles, I was thrilled to attend the screening of Versailles 1973 at the SFMOMA recently.

The documentary chronicles The Battle of Versailles Fashion Show, one of the most important moments in fashion history.
 

Models on the Queen's Staircase, Versailles, 1973
Photo: Helmut Newton

     Held November 28, 1973 in the Palace of Versailles to raise money for its restoration, the gala showcased the talents of five American designers (Bill Blass, Stephen Burrows, Halston, Oscar de la Renta, and Anne Klein with Donna Karan), and five French designers (Yves Saint Laurent, Emanuel Ungaro, Pierre Cardin, Marc Bohan for Christian Dior and Hubert de Givenchy).
 

Josephine Baker, 67, performing at Versailles in 1973

     Clothing was modeled in theatrical vignettes along with performances by Liza Minnelli, Josephine Baker, Jane Birkin, Zizi Jeanmaire, Danielle Darrieux and Nureyev.
 

Denise Hale and a Guest at Versailles in 1973

     Among the International A-plus-list crowd that attended were Elizabeth Taylor, Princess Grace of Monaco, The Duchess of Windsor, Catherine Deneuve, Andy Warhol, Marie-Hélène de Rothschild, Jacqueline de Ribes, Paloma Picasso, Marisa Berenson, Betsy Bloomingdale, C.Z. Guest, and... San Francisco's Denise Hale!

Truly a must-see from historical, fashion and architectural perspective!
 

Elizabeth Taylor, Halston and Liza Minnelli at Versailles in 1973

     Two queens of Hollywood are also making real estate news this month: Elizabeth Taylor and Cher.

Dame Elizabeth Taylor’s Beverly Hill's estate of the 1950s has just landed on the market for $15.9 million, listed by my Beverly Hills colleagues Joyce Rey and Arlene Rutenberg.
 

Elizabeth Taylor's Former Home, Asking $15.9 Million

     Legend has it that Taylor and husband-at-the-time Michael Wilding (number 2 of 8) reportedly decided to buy the property after trespassing (literally scaling the fence) to see it for themselves!
 

Elizabeth Taylor's Former Home, Asking $15.9 Million

     Writing about it years later in her memoir, she said "It was the most beautiful house I’ve ever seen." The original architect, George MacLean, became godfather to Elizabeth’s son, Christopher.
 

Elizabeth Taylor and her Boys at Home in 1955

     The home was scene of many a glittering soiree for Hollywood royalty (Taylor was reportedly “fashionably late” for her own parties!).
 

Cher's Son's Home, Asking $2.5 Million

     Our third royal residence of the month is Cher's -- or more precisely, the Beverly Hills compound of her son, Elijah Blue Allman, which just went on the market for $2.5 million.
 

Cher's Son's Home, Asking $2.5 Million

Billion Dollar Listing
 

     In Bel Air, California, two rival 'mega mansions' are vying to become America's most expensive home (here’s a dishy comparison of these two superb properties.)

On one plot stands a $188 million home named simply “Billionaire”.
 

"Billionaire" in Bel Air, Asking $188 Million

     Currently owned by luxury handbag entrepreneur Bruce Makowsky, the 21,000 square foot estate at 924 Bel Air Road boasts 17 bedrooms and 21 bathrooms, linked over four floors, by lifts lined with crocodile skin.
 

Raj Kanodia's Bel Air Property, Asking $180 Million

     Next door sits a similar property, on the market for $180 million, developed by Raj Kanodia -- a famous plastic surgeon whose clients include Britney Spears and Kim Kardashian West.

Among the amenities of the roughly 34,000 square foot, nine-bedroom mansion (with Portuguese limestone facade) is a gym designed by celebrity trainer Harley Pasternak!
 

The One, Asking $500 Million

     Once sold, neither of these properties would hold their titles for long as construction of developer Niles Niami's 100,000 square foot mansion, The One, is expected to be completed soon. The incredible property, which I first told you about in my March 2016 issue, will have a price tag of $500 million.
 

The Mountain of Beverly Hills, Asking $1 Billion

     But just when you thought prices couldn't possibly get higher, global super-luxury numbers have hit the stratosphere this month with the unveiling of the One Billion Dollar Listing!

Called The Mountain of Beverly Hills, the one-of-a-kind, never-to-be-found again property spans a stupefying 157 acres at the top of Beverly Hills (nearly twice the size of Disneyland), with an über private road serpentining skyward toward 90210’s largest and loftiest peak, a summit usually visible only by helicopter.

Stay tuned for further updates!
 

Prices at The Peak
 

A Home at 28 Gough Hill Road Sold for $115 Million

     In real estate news outside the U.S, another sales record was recently shattered with the $115,000,000 purchase of a 5,579 square foot home on Hong Kong's Victoria Peak.

Coming out to over $20,500 per square foot, it makes the San Francisco record of $5,555 look like a bargain!

Bought late last year, the home at 28 Gough Hill Road was just revealed to have been a purchase by Pansy Ho, daughter of Macau casino magnate Stanley Ho.
 

Jack Ma's $193 Million Home on Victoria Peak

     Victoria Peak is certainly the world’s priciest neighborhood, with land at 75 Peak Road selling for $657.8 million in 2015, (the new owner has approval to build two villas on the site valued at around $400 million each!)

That was soon followed by three more astonishing sales on The Peak:

  • Jack Ma, founder of Alibaba, paid $193 million for a home at 22 Barker Road.
  • Chen Hongtian (chairman of Shenzhen's Cheung Kei Group), paid $267 million for a home at 15 Gough Hill Road (which I wrote about in my June 2016 issue)
  • Lai Hoi Man paid approximately $30 million (nearly $22,000 per square foot) for a 1,361 square foot apartment at 3 Severn Road (once named the world's most expensive street.)

This Guiyang Skyscraper Features a 350 Foot Watterfall

     China is also home to one of the most exciting new highrises in the world -- the first skyscraper with its own massive 350 foot waterfall just opened! 
 

Straight Out of a Fairy Tale
 

Hadlow Tower in Kent, Asking $2.6 Million

     One of the world’s most unique pieces of real estate just came on the market -- England’s historic Hadlow Castle.
 

Hadlow Tower in Kent, Asking $2.6 Million

     Having enchanted lovers of architecture and fairy tales for centuries, the tower looms high at 175 feet, holding the title of Britain’s tallest folly.
 

Hadlow Tower in Kent, Asking $2.6 Million

     The origins of the tower are marred with scandal, with one story claiming that in 1838 a jealous husband built the structure to keep watch on his unfaithful wife who had left him for another man.
 

Hadlow Tower in Kent, Asking $2.6 Million

     Today the eight-floor tower is equipped for lavish royal living, with four bedrooms, four bathrooms, a living room, dining area, kitchen and home cinema!
 

Gosford Castle in Northern Ireland, Asking $650,000

     In Northern Ireland, a wing of Gosford Castle -- used for scenes on hit fantasy TV show Game Of Thrones -- is on the market for approximately $650,000 (that's not a typo -- it's 650 thousand!)

It has 15 bedrooms, 10 reception rooms and 10 bathrooms and is surrounded by 560 acres acres of woodland.
 

Riverrun Castle, on Game of Thrones

     Parts of the exterior appeared on the show as Riverrun Castle.
 

     For those of us not spending summer in a fairy tale castle, the San Francisco Bay Area continues to provide a non-stop swirl of fabulous cultural, entertainment, sporting, philanthropic and sporting events! Below, I've compiled many into this month's social calendar which I hope you will enjoy

I'd like to wish you and your loved ones a most wonderful summer, wherever in the world you might be!
 

 

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

AUGUST EVENTS

6 - Monday

Alice Waters Appearance

William R. Hearst III (publisher of Alta), Alice Waters, Warren Weber, Nikiko Masumoto and Reggie Knox speak about California's Organic Farmers Plan for the Next Generation. Ferry Building, 1 Ferry Building, 2nd Floor, 6:00 PM.

Admission: $15

bookpassage.com
 

6 - 9

Oscar de la Renta

Preview the Oscar de la Renta Resort 2019 collection. Saks Fifth Avenue, Union Square.
 

9 - Thursday

Thinking Machines

Stanford's Jeff Hancock and Instagram's Mike Krieger speak about social media. De Young Museum, Koret Auditorium, 6:00 PM.

Admission: $20 and up

deyoung.famsf.org
 

9 - Thursday

Stacks, Slopes and Streams

Opening of an exhibition of recent paintings and works on paper by American painter Paul Kremer. 10 Hawthorne Street, through September 1.

berggruen.com
 

8 - Wednesday

Flower Power Luncheon

A lunch and floral design show that benefits The Salvation Army’s Back to School and After-school programs in San Francisco. Sir Francis Drake Hotel, 11:00 AM.

Admission: $1,500 and up

salvationarmy.org
 

10 - 12

Outside Lands

Performance by Janet Jackson, Florence + The Machine, Future, Bon Iver, CHVRCHES, Jamie XX and many more!

Admission: $150 and up

apeconcerts.com

 

11 - Saturday

Salesforce Park Opening Party

The day before the rest of the Salesforce Transit Center opens for business, there will be a free neighborhood block party stretching out across the entire 5.4-acre rooftop park from Noon to 4:00 PM on Saturday, August 11th.

Visitors will be among the first to visit the entirety of Salesforce Park and the rest of the Transit Center below, which will soon welcome the new retail tenants that have recently been announced -- including some familiar names! 

salesforcetransitcenter.com
 

19 - Sunday

Help is on the Way Gala

The Richmond/Ermet Aid Foundation benefit for Meals on Wheels San Francisco and AIDS Legal Referral Panel, featuring performances by Leanne Borghesi, Eileen Bourgade, Carole Cook, Davis Gaines, Debby Holiday, Eric Krop, Kimberley Locke, Valerie Pettiford, Jai Rodriguez, Paula West, Mary Wilson, Top Shelf Classics, Ladies of Salsamania, Eric Rosenberg, Yelena Vayn, and Jon Maher. Herbst Theater, SF, 5:00 PM.

Admission: $65 and up.

reaf-sf.org

20 - 22

Singularity University Global Summit

The world’s most innovative leaders gather to learn how emerging technologies are redefining business, society, and humanity. Hilton Hotel, Union Square, SF.

Admission: $2,995 and up

su.org
 

23 - Thursday

Valley of Genius

Author Adam Fisher speaks about his new book about Silicon Valley, Valley of Genius. Books Inc., 317 Castro Street, Mountain View, 7:00 PM.

booksinc.net
 

26 - Sunday

Concours d’Elegance

Front­engine roadsters and rear­engine racecars will compete at the 2018 Pebble Beach Concours d’Elegance.

Admission: $375 and up

pebblebeachconcours.net
 

SEPTEMBER EVENTS

5 - Wednesday

SF Symphony Gala

This year, Michael Tilson Thomas conducts Gershwin’s An American in Paris, and welcomes violin legend Itzhak Perlman to savor some of Hollywood’s most unforgettable music, including Cinema Paradiso and the Oscar winner which Perlman immortalized: Schindler’s List. 

sfsymphony.org
 

7 - Friday

SF Opera Ball

Opening night of the SF Opera's 2018 season. Chaired by Shannon Cronan and Kathy Huber.

sfopera.com
 

CURRENT LISTINGS


Victorian Mansion in Pacific Heights, $12,000,000
www.1945FranklinStreet.com -


Chenery House, Available for $8,500,000
www.47CheneryHouse.com -


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


A Residence at the Highly Coveted Nob Hill Tower, $6,000,000
www.1170SacramentoStreet17A.com -


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


Beautifully Renovated Victorian Residence for $4,995,000
www.2611CaliforniaStreet.com -


Stunning, Spacious, Nob Hill Residence, $3,488,000
www.850PowellStreet104.com -


Dazzling Views at 1200 California Street, $2,800,000
www.1200CaliforniaStreet11C.com -


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


Light Filled Modernism at The Comstock for $1,878,000
www.1333JonesStreet901.com -


Fantastic Corner Residence at Cathedral Tower for $1,295,000
www.1201CaliforniaStreet904.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

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