One Steuart Lane Outdoes Itself With $4,487/SqFt Penthouse Sale

Two of the six brand new penthouse residences atop One Steuart Lane have sold, making them among San Francisco’s all-time priciest condominiums. For all the elite amenities and the iconic waterfront location that this ultra-luxury development offers, these eight-figure sales are not entirely surprising, perhaps. What is extraordinary, however, is the $4,000+ per square foot prices achieved by numerous homes there.

Before visiting any new development, reach out to us to discuss our services for San Francisco home buyers. You’ll be happy you did. Our agents are negotiating significant deals in today’s volatile market.

One Steuart Lane is marketed and listed exclusively by cooperating broker Polaris Pacific.  All listing photos courtesy of SFAR MLS.

 

The distinctive 120-unit highrise recorded its first such sale upon the first closings in August 2021. By the end of that year, it was joined by another two view homes including a penthouse sold for $11,500,000 — $4,442 per square foot.

Then, 1 Steuart Lane #2001 sold in August 2022 for a reported $10,500,000 — $4,487 per square foot. The high-dollar-per-square-foot is a record-setter for One Steuart Lane. Citywide, it is second only to a 181 Fremont penthouse sold in 2018 for a staggering $4,509 per square foot.

These five trophy residences in South Beach — four at One Steuart Lane and one at 181 Fremont — may well be the only condominiums to have ever achieved such sky-high prices in San Francisco. Data reported to SFAR MLS would indicate that is so. In fact, according to SFAR MLS, only seven residential properties of any type (single-family, tenancy in common, stock cooperative and condominium) have hit $4,000 per square foot. It should be noted, however, that as it is the case for the aforementioned 181 Fremont penthouse, new construction sales are not always reported to the MLS.

One Steuart Lane has welcomed 40+ new residents and exceeded $200 million in total sales volume since closings began just over one year ago. According to developer Paramount Group, that’s more sales than any project on the West Coast over the past 12 months. And the most exclusive homes are still to come.

All four of the penthouses remaining are anticipated to hit the market in 2023. They include two 2-bedroom layouts with city views and approximately 1,570 to 1,767 square feet of exquisitely curated interior spaces. Two grand residences on the 20th floor measuring more than 5,000 and 6,000 square feet respectively will be available as shells to be built out according to their buyers’ specification.

 

You can always live chat with us to get real-time data and a qualitative take on the market. We’re actively identifying unique opportunities and making deals happen. We know what’s good!

Subscribe to broker insights, top headlines, off-market listings, and new development launches delivered monthly to your inbox.