Against all odds, a penthouse recently sold at San Francisco’s Millennium Tower for an astonishing $13 million — that’s the most expensive condo sale in the city in the last five years.
Originally known for being San Francisco’s tallest residential building, this year the Millennium Tower has been in the news because it has quite literally sunk 16 inches since being completed in 2008. As a result, it now tilts up 2 inches to the northwest. There’s been much discussion of who is to blame for the building’s problems, and some condo owners have claimed their homes in the clouds are now worth nothing.
None of those factors dissuaded Craig Ramsey, a former tech executive at Oracle, from buying his pricey penthouse. In fact, he told The Wall Street Journal that he found the $13 million he paid “very reasonable.” He also paid $4.3 million for a condo on one of the building’s lower floors back in 2012.
At least one market watcher was unsurprised by the sale. Broker Greg Lynn of Sotheby’s International Realty told the San Francisco Business Times, “[t]he luxury condo market is very strong.”
The not-so-quaint 5,500-square-foot abode includes two bedrooms, two full bathrooms and one partial bathroom and incomparable views. Good luck, Ramsey, and may you find equilibrium and firm footing within your new home.