San Francisco's Newest Price Record, Tahoe’s Most Expensive Estate Ever, Union Square's Billion Dollar Hotel , The Trillion Dollar Tech Effect, Fall Social Calendar
Issue 60 - September 2018 by JOEL GOODRICH


Previewing a NY Penthouse for a Client Last Week
432 Park Avenue, 95th Floor, Asking $82 Million


Greetings from San Francisco!

After a super-busy summer, selling extraordinary properties for my fabulous clients (from elegant homes in Presidio Heights and Pacific Heights, to a stunning William Wurster residence on Telegraph Hill, a glamorous Mid-Century co-op on Nob Hill, and a starchitect-designed estate in Sonoma, among others), I'm delighted to now present the first offerings of my Fall Collection!


Exceptional Russian Hill Home


First is a stunning co-op in a glamorous Pre-War Russian Hill building originally designed by renowned architect T. Patterson Ross.

With sweeping views of the City and Bay in one of the City's most desirable neighborhoods, residences at 2164 Hyde are highly coveted, and with good reason!


Fantastic Corner Residence at Cathedral Tower


Next is a light-filled co-op at Nob Hill’s iconic Cathedral Tower, with mesmerizing views of the City, extending to the Golden Gate Bridge.


Views from the Cathedral Tower Listing


As you know, I often sell premiere properties outside of San Francisco as well, and this season I'm going as far north as picturesque Mendocino for an exceptional collection of luxury inns and a stunning private residence.


Three Mendocino Inns & Residence 

These three inns (featured in Food & Wine Magazine, the New York Times, the Today Show and elsewhere) have been upgraded to a level appealing to the most sophisticated travelers, and provide current income with excellent upside potential.

With a detached private residence on the back of Packard House included in the sale, this is truly a rare opportunity for either an investor or owner/manager.




A New Record-Setting Price



Mira, designed by Studio Gang


The luxury building boom in San Francisco continues with the upcoming opening of Mira, the twisty tower designed by starchitect Jeanne Gang.


Mira, designed by Studio Gang


The architect said the look of the 40-story, 392-unit development "evolves the classic bay window, a familiar feature of San Francisco's early houses, re-imagining it in a high-rise context," and that the aim was to "make every residence a corner unit."


52nd Floor Skylounge at 181 Fremont


Nearby, at the new ultra-luxury development 181 Fremont (where the penthouse is currently listed at $42 million), a three-bedroom, 3,326-square-foot home just sold for $15 million, or about $4,509 per square foot. 

This sets a new record as the highest price-per-square-foot condo sale in the City.


A $4.8 Million Condo at 181 Fremont
Decor by Charles de Lisle. Photo: Matthew Millman


Compared with condo prices in cities such as London, New York and Hong Kong, where we’ve seen sales up to $27,000 (!) per square foot, this almost seems like a bargain! 

Interestingly enough that doesn’t match the $5,556 per square foot a buyer paid a few years ago for an approximately $30 million penthouse at 2006 Washington Street, one of the City most elegant 1920s pre-war co-ops (as they say, some things never go out of style!)




Trillion Dollar Tech, Trillion Dollar Town



Trillion Dollar Cities
Residential real estate in NY, LA and SF, valued at over $1 trillion.
Source: LendingTree.com


A fascinating new study has just shown that the total value of all residential real estate in San Francisco is now $1.3 trillion -- a bit more than the $1 trillion market capitalization of Apple and Amazon, a 13-figure milestone reached by both companies in the last month.


Apple Valued Over $1 Trillion
See CEO Tim Cook's memo to the company about its valuation.


The stock market's huge gains have had a tremendous boost by Bay Area companies (an intriguing look at these mostly tech-centric firms includes one with an over 6,000% increase since 2009), and of course the growth of tech has also fueled our real estate market -- leading one local economist to claim it's contributing to a real estate bubble that could burst as soon as 2020.


Moffett Towers II, Sunnyvale
Facebook has leased 1 million square feet of space in Sunnyvale


In the meantime, our tech giants' seemingly insatiable appetite for Bay Area commercial space continues.

Amazon is nearly doubling its footprint in San Francisco, adding 143,000 square feet of office space to its 525 Market Street location, while Facebook has already added over 3.7 million square feet this year alone, totalling 6 million SF in leased or owned property in the Bay Area.

It will certainly be an interesting economic cycle -- so stay tuned for my 2019 Crystal Ball as we approach the end of the year!




SF's Newest Instagram Star



Salesforce Transit Center and Park
Photo: Instagram @treswarrior
See more photos here.


Opening with great fanfare last month, the new Salesforce Transit Center’s outdoor theater and park has become a huge new attraction in the City, and an Instagram star (fitting, considering Instagram's new office opens up right onto the park.)


Salesforce Park
Photo: Instagram @mcmc


Not so well known, though, is there is a second Transbay Park in the works, expected to open in 2020!

Spanning three blocks, it will be located below the highway and future bus ramp, serving as a link between the Salesforce Transit Center and Folsom Street. 


Salesforce Park
Photo: Instagram @stephschipper


 (Here's a great overview of all the new highrises sprouting up in the burgeoning Transbay District, and here is a fascinating historical timeline plus a sneak peak into the future of this increasingly important part of the City.)




SF's Billion Dollar+ Hotel



The St. Francis Hotel in 1904


National and international interest in San Francisco's legendary hotels continues unabated, with the sale of the iconic Huntington Hotel from the Singapore-based Grace International, to LA-based Woodbridge Capital Partners, in what would be the firm’s fourth hotel acquisition on Nob Hill.
 

The St. Francis Hotel Today


In Union Square, the iconic St. Francis Hotel is now for sale, part of a deal to sell billions in assets of a Beijing insurance company seized by the Chinese government. 


Al Jolson and his Cadillac at the St. Francis, 1927
(The year Jolson made "The Jazz Singer")


Its storied past includes a famously scandalous party held by Hollywood silent film actor Fatty Arbuckle in 1921, the death of Al Jolson, and the 1975 attempted assassination of President Gerald Ford.


Prince Philip, Nancy Reagan, Queen Elizabeth at the St. Francis 
March 31, 1983 


The City's third largest hotel, it's expected to sell for up to $1.2 billion, which would make it the second most valuable building in San Francisco (the $1.33 billion Salesforce Tower is the first)!

The construction boom for new hotels also continues -- plans have just been filed for a new 165 room hotel at 420 Sutter Street, right next to the Art Deco masterpiece at 450 Sutter.  It will certainly be interesting to see how the new architecture will meld.




New Heights in New York Luxury



Manhattan Skyline in 2022
Rendering by Jose Hernandez, via New York YIMBY


A wonderful new exhibition from the Skyscraper Museum takes a look at how Manhattan’s skyline can be examined under various points in time, through a very clever interactive slider.


Penthouse at 30 Park Place, Asking $30 Million


The architectural trend, not surprisingly, is towards ever higher buildings -- and with each new project comes a trophy penthouse!

The latest example is the 82nd floor residence atop Robert AM Stern's 30 Park Place, which is the the tallest terraced penthouse in New York City.
 


Penthouse at 30 Park Place, Asking $30 Million


The 900 foot tall building is the tallest in the downtown area, and contains 157 luxury residences, as well as a Four Seasons Hotel. Celebrities Matthew Perry and Yolanda Hadid also live in the building.


Penthouse at 565 Broome


While the NY ultra-luxe market has cooled, important sales still occur -- the penthouse atop Renzo Piano's 565 Broome Soho, on the market for $40.5 million, just went into contract a few weeks ago, as did the townhouse at 110 East 76th Street which served as the 2018 Kips Bay Decorator Show House.

The eight-bedroom, seven story home (with gym, elevator, security room, etc.), is said to have been purchased by David Koch and wife Julia (New York's richest couple) for $40.2 million.


Penthouse at 100 Barclay, Asking $59 Million


Manhattan's ultra-luxe market still has several incredible properties available, representing a breathtaking array of architectural styles and buildings -- from the iconic Woolworth Building's "Pinnacle Penthouse" for $110 million, to a stunning  Beaux Arts-style Upper East Side mansion with Hermes leather-covered walls, and an Art Deco penthouse atop 100 Barclay, with a living room the size of an NBA basketball court.


Penthouse 95 at 432 Park Avenue, Asking $82 Million


One of my favorites is the 95th floor, $82 million penthouse at 432 Park Avenue, which I recently had the pleasure of previewing for clients.

Located atop one of New York’s most eye-catching supertalls, it's situated about 1/4 mile above Manhattan. One can actually see the curve of the earth from the heavenly abode!


Meryl Streep's Tribeca Penthouse, Asking $24.6 Million


Finally, a penthouse of true Hollywood glamour has just come on the market -- Meryl Streep has listed her stunning Tribeca residence of the past 12 years for $24.6 million.




West Coast Luxury



La Jolla's "Razor House," Asking $30 Million


On the other coast, the starchitecturally-designed "Razor House" in La Jolla has just come on the market for $30 million. 


La Jolla's "Razor House," Asking $30 Million


Built in 2007, the 10,653-square-foot house was designed by Wallace E. Cunningham to merge stainless steel, white polished concrete, and glass in a way that harmonizes with the endlessly captivating expanse of the Pacific Ocean.


La Jolla's "Razor House," Asking $30 Million


Resting high above Torrey Pines State Reserve, and with private access to Black’s Beach, the home is not only an exceptional trophy property, but a true work of art.


Montecito's "Villa Solana," Asking $40 Million


Built in 1914 by Santa Barbara legend Frederick Forrest Peabody and designed by Francis T. Underhill, the 22,000-square-foot mansion has 360-degree ocean and valley views, and has hosted some of the country’s most influential figures, such as John F. Kennedy and Martin Luther King, Jr.


Lake Tahoe's "Crystal Pointe," Asking $75 Million


Finally, even further to the North is Crystal Pointe, which has just hit the market for $75 million.  The cliffside property is Lake Tahoe’s most expensive ever!

The 5.14 acre lakefront estate encompasses 16,232 square feet of living space with eight bedrooms, ten full and one half bathrooms and 13 fireplaces.


Lake Tahoe's "Crystal Pointe," Asking $75 Million




For the Buyer Who Has Everything...



Ballroom at Carolyn Rafaelian's Rhode Island Mansion, Belcourt


We are seeing an ever-expanding growth in the international "home collectors" market -- clients with five or more major estates around the world.

Most of these owners are extremely private, but the Wall Street Journal's Mansion Global recently did a fascinating story on jewelry entrepreneur and billionaire Carolyn Rafaelian’s collection, which includes a Rhode Island mansion, a Tribeca townhouse, a winter home in Palm Beach, a winery, and an abode overlooking Venice Beach.



Carolyn Rafaelian's Rhode Island Mansion, Belcourt


Adding to the enticement of owning multiple homes are some of the ultra-luxe perks sellers are including with the properties: rare sports cars, yachts, helicopters, priceless art, precious jewels, wine vaults, golf memberships, designer closets -- you name it.


The Regalia Penthouse, Asking $39 Million


The $39 million Regalia Penthouse in Sunny Isles Beach, Florida (designed by Charles Allem) in Sunny Isles Beach, Florida, includes a rare $500,000 pink diamond.


The Chanel-Inspired Dressing Room at the Sundara Estate


A perk of the $20 million Sundara Estate in Delray Beach, Florida, is a massive dressing room inspired by a Chanel boutique and a walk-in Nike Air Jordan sneaker man cave.


Ritz-Carlton Penthouse Residence, Miami Beach, Asking $40 Million

Owners at the Ritz-Carlton Residences in Miami Beach (designed by Piero Lissoni, prices range from $2 million to $40 million), have access to a medical concierge, and transportation via marine helipad and a house yacht.


The Stanley House, Designed by Lenny Kravitz, Sold for $33 Million

One home, The Stanley House in the Hollywood Hills (which sold in June for $33 million, making it the third highest sale ever in the Hollywood Hills), was even designed by a rock star -- Lenny Kravitz, who went for a "Disco Volante" night club style, with dim mood lighting, velvet couches, and state-of-the-art audio system.




The Fall Social Season



The Langham London's Infinity Suite, £15,000 per night


In case you’re planning to travel this fall, here's a look at some of the world's most stunning hotels, and an intriguing peak at the 10 most expensive suites -- including one for $80,000 per night.

But with such a busy fall social season in San Francisco, there's not much need to travel! I'm especially looking forward to upcoming galas in support of UNICEF (September 22), the ODC Dance Company (September 30), and Kids & Art, a wonderful organization for pediatric cancer (December 1, taking place at Salesforce Tower's spectacular new event space.)

As always, below is a calendar of some of the San Francisco Bay Area’s non-stop swirl of philanthropic, cultural, entertainment, fashion, tech and sporting events which I hope you enjoy.

I look forward to seeing you around town!




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





September Events





13 | Thursday
Shine Gala

Oasis For Girls’ sixth annual Shine Gala is a celebration of the phenomenal young women of Oasis and the community that supports and advocates for them. Twitter HQ, 875 Stevenson Street, SF, 6:00 PM.

Admission: $95 and up


14 - November 30
Luchino Visconti Retrospective

Film series celebrating the work of director Luchino Visconti. BAMPFA, Berkeley.





15 | Saturday
Party for the Parks

Join the annual Party for the Parks for a lively evening filled with signature cocktails, spectacular dinner stations, and dancing. Music Concourse, Golden Gate Park, 6:00 PM.

Admission: $200 and up


20 - Thursday
Edmund De Waal Opening

A showing of artist Edmund De Waal's work. Opening reception, Gagosian San Francisco, 657 Howard, 5:00 PM to 7:00 PM. Exhibit open through December 8.





20 | Thursday
John Hennessy and Marissa Mayer

John Hennessy, chairman of Alphabet, speaks to Marissa Mayer about his new book, "Leading Matters: Lessons from My Journey." Computer History Museum, 1401 N. Shoreline Boulevard, Mountain View, 6:00 PM.



21 - Friday
Fashion Community Week Opening

Celebrate the 5th year anniversary of Fashion Community Week, Fairmont San Francisco, 5:30 PM to 2:00 AM.

Admission: $45 to $280




22 | Saturday
SF Home Tours

American Institute of Architects SF and the Center for Architecture + Design present the annual San Francisco Living: Home Tours, featuring five outstanding modern homes. Meet at Cambria Gallery, 1045 Bryant Street, SF, 10:00 AM.

Admission: $50 to $85


22 - Saturday
Marcello Mastroianni Retrospective

A daylong homage to Marcello Mastroianni, Castro Theatre, SF.




22 | Saturday
Contemporary Muslim Fashions

Opening of Contemporary Muslim Fashions, the first major museum exhibition to explore the complex, diverse nature of Muslim dress codes worldwide. De Young, through January 6, 2019.


22 - Saturday
UNICEF Gala

Featuring a special tribute to the late UNICEF Goodwill Ambassador Audrey Hepburn by her granddaughter Emma Kathleen Hepburn Ferrer. Four Seasons Hotel, SF, 6:30 PM.

Admission: $250 and up




23 | Sunday
Sustainable Fashion Show

The 5-year anniversary for Sustainable Fashion Week, benefiting Dress for Success. Hotel Zelos, 12 4th Street, SF, 1:00 PM to 7:00 PM.

Admission: $35 to $280


23 - Sunday
Ryan Serhant Appearance

Ryan Serhant speaks about his new book, "Sell it Like Serhant." Book Passage, 1 Ferry Building, SF, 1:00 PM.




24 | Monday
One Night Only

The Richmond/Ermet Aid Foundation presents One Night Only Benefit Cabaret
with the touring casts of The Phantom of the Opera and On Your Feet, the Gloria and Emilio EstEfan story. Marines Memorial Theatre, 609 Sutter, SF, 7:30 PM.

Admission: $35 and up


26 - Wednesday
Tribute to Rupert Everett

Writer/director/actor Rupert Everett will participate in an onstage conversation moderated by New York Times Carpetbagger Kyle Buchanan. Castro Theatre, SF, 7:00 PM.

Admission: $20




28 | Friday
Meet Kevin Kwan

Meet Kevin Kwan, author of Crazy Rich Asians. Palo Alto High School Performing Arts Center, 50 Embarcadero Rd, Palo Alto, 7:00 PM.

Admission: $10 and up


28 - Friday
Sally Field Appearance

Actress Sally Field speaks about her memoir, In Pieces. Nourse Theatre, SF, 7:30 PM.

Admission: $29




29 | Saturday
Fran Lebowitz Appearance

Cultural commentator Fran Lebowitz in conversation with Lawrence Rinder. Nourse Theatre, 7:30 PM.

Admission: $30 and up


29 | Saturday
Roast of Donna Sachet

Oasis SF and Peaches Christ Productions present "The Roast of Donna Sachet," emceed by Bruce Vilanch, and featuring Cleve Jones, Lenny Broberg, Mark Leno, Sister Roma and Heklina, and more. Castro Theatre, 7:00 PM.

Admission: $30 and up




30 | Sunday
Race for the Cure

The Race for the Cure 5K marathon along the Embarcadero in San Francisco will raise significant funds thanks to supporters and survivors from around the world who step up and take action. Justin Herman Plaza, 8:30 AM to 11:30 AM.


30 | Sunday
Fall for Art

Join the ODC family at its most intimate and inspiring event and celebrate and support the creation of new work, and savor an afternoon in the natural beauty of the McEvoy Ranch in Sonoma. McEvoy Ranch, 5935 Red Hill Rd, Petaluma, Noon to 2:30 PM.

Admission: $200 and up



October Events






2 | Tuesday
Brian Chesky Appearance

Airbnb co-founder Brian Chesky in conversation with Chip Conley speak about COnley's book, "Wisdom at Work: The Making of a Modern Elder." Marines Memorial Theatre, 609 Sutter Street, SF, 6:30 PM.

Admission: $25 and up

10 | Wednesday
Fall Art & Antiques Show

Opening night gala for The Sun, the Moon, and the Stars: Celestial Imagery in Art, Antiques, and Design, with honorary chair Carolyne Roehm. Festival Pavilion, Fort Mason Center for Arts & Culture, 2 Marina Blvd, 7:00 PM to 10:00 PM.

Admission: $300 and up




18 | Thursday
The Dracula Ball

An elegant, intimate experience at the Conservatory of Flowers, featuring Guest of Honor, Ron Gagliardo, Senior Manager of Horticultural Services at Amazon and Manager of Amazon’s spectacular new conservatory (and more!), The Spheres. 

Admission: $250



Current Listings


Victorian Mansion in Pacific Heights, $12,000,000

Chenery House, Available for $8,500,000

The Bransten House for $7,495,000

A Residence at the Highly Coveted Nob Hill Tower, $6,000,000

Three Mendocino Inns & Residence

Beautifully Renovated Victorian Residence for $4,995,000

Stunning, Spacious, Nob Hill Residence, $3,488,000

Exceptional Russian Hill Home


Luxurious Mission District Penthouse $2,250,000


Light Filled Modernism at The Comstock for $1,878,000


Fantastic Corner Residence at Cathedral Tower


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

BRE# 0102870 | www.JoelGoodrich.com