That rumble you hear in San Francisco’s South of Market district isn’t another California tremor or even the echoes of construction. It’s the city’s record-setting $49 million asking for the penthouse apartment in “Lumina”—a collective of two luxury towers to be completed in the summer of 2016.
Developed by Tishman Speyer, Lumina will house 656 modern units, priced from approximately $2 million for two-bedroom apartments and up. It’s the penthouse on the 41st and 42nd floors of the residential, however, that’s generating all the buzz.
According to the The Wall Street Journal, the roughly 15,000-square-foot penthouse will spectacularly showcase five bedrooms, seven bathrooms, two kitchens(!), and eight terraces covering 1,200-square-feet with private rooftop deck access. The home’s pièce de résistance are its astounding 20-foot-tall ceilings coupled with a curvilinear wall of glass overlooking the San Francisco Bay and Bay Bridge.
The Lumina towers will also offer residents amenities such as a fitness center, resident lounge and parking. The only missing amenity is a mobile-app service that delivers organic groceries—no wait, residents will have access to that too!
The property’s listing agent, Gregg Lynn of Sotheby’s International Realty, confirmed to the Journal that the ask price sets a San Francisco record. The newspaper states that nearly one-third of the units are under contract (200 of 656 residences) with 80% of buyers local to the area. However, the booming tech industry means Silicon Valley execs are swirling around the property like sharks after a sea lion San Francisco Bay. Lynn hinted to the Journal, “We see a technology guru buying the unit,” although the penthouse sale hasn’t been confirmed.
With tech “gurus” from Google, Facebook, Oracle, Apple, Yahoo, Ebay, Cisco, HP, Zynga, Uber etc. in the area, the bidding could be a heavyweight Silicon showdown (the “Thrilla in the Villa”). It’s likely the actual price could top $49 million. We know how competitive these Silicon Valley geniuses can be. If there’s a win to be had, they will buy it—penthouse or not. Like Wall Street, sometimes, ego is more of a factor than price in Silicon Valley. But here, gurus collect trophies in jeans instead of a suit and tie.
Photos and details courtesy of the Wall Street Journal