Proof that San Francisco's luxury condo market is, in fact, thriving: Real estate mogul Victor MacFarlane, whose company is responsible for New York's Time Warner Center, among other things, is putting his St. Regis penthouse up for sale — at $70 million. If the 20,000 square foot palace moves at $70 million, McFarlane will have commanded the highest sale in town, and one hell of a profit; he bought the penthouse, which was three separate units on two floors, for a total of $30 million. (That's what those in business school sometimes call a good return.) Thus far, the $32 million paid for 2845 Broadway in late 2002 stands as the current record holder. There certainly are doubts the SoMa residence will go at its current stratospheric price. "It might be a little on the high side," commented one pundit, failing to clarify whether he was referring to the penthouse's price or its owners state of mind.
· St. Regis penthouse on sale for $70 million [SF Gate]
· FYI: SF Condo Sales (Still) Doing Just Fine [Curbed SF]