Rockwell Developer’s Penthouse For Sale

Listed on the open market for the second time in as many years, penthouse WPH01 at Rockwell in Pacific Heights, formerly owned by developer Scott Brauninger, is seeking a new owner and $2,499,000.

The listing broker describes the property:

Modern luxury at Pac Height’s The Rockwell. Rare opportunity to own the developers unit. Corner PH with high ceilings & gorgeous views of Russian Hill, Alcatraz & the bay. Front row seats for Blue Angels. Large great room for entertaining & separates the bedroom suites. Chef’s kitchen boasts an Italian marble island, floating wood bar, double Miele ovens, 100+ bottle Sub Zero wine fridge & more. Enjoy the movies from home with a complete projector setup. Beautiful Italian floors cover the living area & motorized shades throughout make for easy living. Primary suite features wide plank oak floors, black-out shades, & custom California Closets. Spa like bathroom with 2 person rainfall shower and Toto Washlet. Upgraded sound proofing, A/C & 1 car parking with EV charger complete the unit. Rockwell enjoys 24hr desk person, gym, courtyard w/ BBQ, fire pits & sky-lounge. 99 walk score! Steps to Whole Foods, tech shuttles, Lafayette Park & restaurants on Polk & Fillmore streets.

If the home is able to achieve the listing price, it will set a new price record for 2-bed residences at Rockwell (surpassing the record it currently holds for its June 2019 sale at $2,320,000). But that’s a big if…

Why do we say that? Let’s take a look at the latest stats and market dynamics for 2-bed condominiums in the 94109 ZIP code:

› Number of Active Listings as of 14 May 2021: 29 (Rockwell WPH01 is the third priciest)

 

› Median Listing Price as of 14 May 2021: $1,450,000

 

› Median Sale Price in April 2021: $1,330,000 (down 15.6% year-over-year from $1,575,000)*

 

› Properties Sold Over Listing Price in April 2021: 36.5% (compare to a recent high of 85.7% in July 2019 )

 

*April 2020 closings reflect largely the last of pre-pandemic market forces and purchase agreements ratified prior to the Stay Home order for San Franciscans that commenced 17 March 2020. Considering this, the April 2020 to April 2021 comparison gives a reliable measure of COVID’s direct impact.

 

It’s worth noting that from April 2019 to April 2020, the median price increased 26.4%. The pandemic pushed the reset button and erased nearly that entire gain. What the future holds will surely be revealed over the next few months as San Francisco full reopens.

Comparing WPH01 to other 2-bed residences at Rockwell specifically, consider Unit W1108 actively listed and asking $1,475,000 — absent the bells and whistles, short one half bath and approximately 400 square feet, and without a desirable corner positioning.

So it begs the question: Is there a buyer out there willing to pay $1 million+ for WPH01 and the bragging rights of owning a penthouse? And is he/she/they willing to pay more than the previous 2019 sale price? (If you follow our posts, you know newer condos selling now for less than their previous sale prices from the past 4-5 years is not uncommon at all.)

Or will WPH01 join the handful of other newer development mid- and high-floor 2-bed units in the 94109 languishing on the market for upwards of 200 days (all priced under $2 million by the way)?

Exclusive buyer representation and COVID-compliant private tours available > 415.715.9205 / rockwell@vulcca.com

Rockwell WPH01 is listed and marketed by cooperating broker Compass. Listing photos below courtesy of SFAR MLS.