Anyone who’s someone living in San Francisco knows of the prestigious St. Regis Residences. For that matter, any of the top elites throughout the United States, aka our readers, are probably familiar with the high-end luxurious living quarters.
The magnificent 42-story building features impressive architectural details and creates an opulence and richness all its own. The grandiose St. Regis Residences are certainly one of a kind and lust-worthy for others no doubt. But after the recent decrease in the units’ prices, for some, the lusting for the opulent properties may turn into a reality.
The “back on the market” listings, or BOMs as they’re called, are a result of financing issues. Because of this, the recent sale prices have been cut, some drastically. An example of an incredible deal on the lavish digs at St. Regis can be fully understood by looking at Unit 27D.
The unit was introduced to the market years ago for a more-than-worth-it $3,995,000. However that was at a time when the economy and housing market were certainly not in any kind of slump. But given the times, Unit 27D recently sold for drastically reduced $2,300,000 according to thefrontsteps.com—a whopping 42 percent less than the original asking price!
Other units have also been dramatically cut, offering more people even more brilliant luxury at the St. Regis. To put things even further into perspective, average sales price per square foot in the building for recent sales was $1,476, while expired or withdrawn listings were around $1,650.
But it’s not just the St. Regis offering deals. Another jewel in the Golden Gate City, The Millennium Tower, is also offering luxury for less. (Haute Living recently profiled the tower in our print edition. The one- and two-bedroom residences feature limestone floors, state-of-the-art curtain wall window systems, and marble countertops.
In the economy’s current state, it would certainly be an understatement to say it’s a buyer’s market. But given these two properties and their marvelous offerings, it’s clear to see just how lucky the current buyer truly is. Living out fantasies in one of these beautiful properties? Yes, please.
News
September 16, 2009Balazs Prepares to Sell Raleigh
