Price for Prestigious Nob Hill Penthouse Has Dropped by a Third

Feb 26, 2024

Purchased for $7 million at the end of 2013 and then completely renovated, with custom millwork, Venetian plaster, Italian marble, and high end finishes throughout, the 4,320-square-foot, two-level penthouse unit #1002 atop the Park Lane at 1100 Sacramento Street returned to the market priced at $12.495 million in June of 2020.

Reduced to $10.495 million in September of 2020 and then to $8.995 million in January of 2021, the TIC unit was briefly in contract but never closed escrow.

Relisted for $8.995 million this past March, the asking price for the prestigious Nob Hill penthouse has just been further reduced to $7.995 million, a sale at which would be “at asking” according to all industry stats and aggregate reports and would appear to represent “a million dollar gain,” ignoring the seven-figure budget for the renovation.

If you think you know the high-end market in San Francisco, now’s the time to tell.