Filed under: Real Estate Developments
One of the most lavish condo projects in San Francisco, the Millennium Tower, will be given a price chop. The 60-story glass tower with sweeping Bay Area views is reducing prices by 15 percent including offering a refund on units already sold. The tower, San Francisco's tallest residential building is being built in the South of Market area. The tower includes a club level with a screening room, pool and pool terrace, fitness club, tasting room, lounge, dining room and fitness center. A residents-only dining room is serviced by Michael Mina's restaurant RN74 which is located in the tower.
The cuts are in line with recent housing data in the San Francisco market which have shown prices falling over the past year. So far the Millennium Tower, San Francisco's fourth-tallest building, has 92 units, or a fifth of the total, under contract. The decision means that the developer Millennium Partners LLC will refund 15 percent of the $22.5 million it has in deposits. The building is set to open in mid-April.