The Millennium Tower in San Francisco is not only an eye-catching and soaring building, but now it’s also the place to go for significantly decreased prices of its luxurious apartments and grand residences.
Debuted just this past spring, the Millennium Tower opened with properties ranging from $600,000 for “Residences” to $1.568 million for “Grand Residences.” Due to the drop in the real estate market over the past year, however, in July the developers of the building, Millennium Partners, took 15 percent of the units to the rental market, hoping to increase potential interest.
This strategy of dipping into the rental market has been done before at Millennium’s other properties before, and currently a few two-bedroom units can actually be found on Craigslist ranging from an $8,000-unit on the eighth floor to an $8,500-unit on the 30th floor.
Potential renters are also currently privy to a special rental option on a Grand Residence. Once its construction is finalized, the unit will be going for $18,000 a month with a one-year lease. This rental price will get you three bedrooms, three-and-a-half bathrooms, 2,819 square feet, two parking spaces, and all other resident perks.
Via: Curbed San Francisco
