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Don’t have extra millions lying around to buy yourself access to 181 Fremont‘s uber exclusive inventory of studio and one-bedroom homes? Despair not! Resales have arrived, and developer Jay Paul Company is releasing unsold inventory.
Conceived as quarters for guests and household staff, 181 Fremont‘s so-called Atelier Suites were — until now — reserved for purchase by owners of primary residences in the record-setting luxury highrise. These twelve petit pied-a-terres comprise the first of 17 floors of homes rising from an elevation of approximately 500 feet, directly above a world-class amenity level and wraparound observation terrace. Pre-sale offerings started at $1.1 million on their 2016 debut and have so far fetched upwards of $1.75 million.
The first suite listed for resale traded hands earlier this year for a reported $1,400,000, sold to a building outsider after spending 927 days on market. Its purchase price is 20 percent less than the seller paid for this largest one-bedroom layout in 2018. Side note: This seller unloaded their 3-bedroom unit last summer at a multi-million dollar loss; they still own one suite.
Hoping to change the narrative no doubt — but listed for resale nonetheless significantly below its 2018 price — the owner of 181 Fremont Street #54H has just placed their studio suite on the market. Its interior features many of the rare globally-sourced materials found in the larger primary residences including Brazilian White Macaubas countertops, Italian-made Valcucine cabinetry and French oak flooring. The 623 square foot home is offered at $1,149,000.
181 Fremont Street #54A is marketed and listed exclusively by cooperating broker Compass. Listing photos above courtesy of SFAR MLS.
Meanwhile, seven never-before-sold suites are now available to the general public for the first time, officially ending the exclusive owners-only perk. Among them, 181 Fremont Street #54A is one of the smallest at approximately 490 square feet. It is transparently priced — keeping with the custom of selling new construction in San Francisco — and seeking $937,000. Additional offerings range from 403 to 666 square feet. Opportunity knocks to buy the dip!
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Nearly one-third of the 55 primary residences at 181 Fremont still await their inaugural sale. One dozen two-bedroom homes and three three-bedroom homes are priced from the mid-$2 millions and ready for immediate occupancy. The Grand Penthouse, San Francisco’s highest private residence and occupying more than 6,900 square feet of bespoke curated space at the 70th floor, awaits a 0.01-percenter with a healthy eight-figure budget.
Several two- and three-bedroom units offered for resale in recent years have presented exceptional buying opportunities. One such listing, 181 Fremont Street #55C, sold for 40 percent below its original purchase price after it was withdrawn from the market. Others withdrawn similarly (even after having been listed for a loss) remain unsold. Just how motivated those sellers may still be is anyone’s guess, but a well-reasoned offer could be all it takes to clinch a deal.
