Co-op sells for highest value per sq. foot in San Francisco
2500 Steiner was already a historical landmark; now it is also a record holder
Updated: 11/16/2021 5:11 PM
2500 Steiner, a trophy building on Pacific Heights, was built in 1927.
Adam Brioza, Open Homes Photography
Majestically on the corner of Alta Plaza Park, 2500 Steiner is rising again famous. Therein, Unit No. 6 sold for $ 15.5 million that November, making the 3,500 square foot unit $ 4,428 per square foot. That price per square foot is the highest SF ever had for a cooperative, according to MLS data. The previous record was held by a cooperative on 1 Steuart Lane at $ 4,012 per square foot.
The interior of the penthouse encompasses this stunning wraparound wall of windows that offers views from the city to the bay and beyond.
Open Homes Photography
Since 2500 Steiner is on a ridge at approximately 285 feet, it is a recognizable sight in the San Francisco skyline. “The height and lack of tall buildings nearby make it one of the most visible buildings in San Francisco,” wrote Bay Area Architects.
It was built in the 1920s by Conrad Alfred Meussdorffer, who also designed the St. Regis apartments in Lafayette Park (whose beaux-arts beauty catapulted Meussdorffer’s career into the city’s elite) and Washington Street in 2006.
This toilet with its striking wallpaper is one of three and a half bathrooms in the penthouse.
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A cooperative is a special type of property. In contrast to a condominium, in which the owner owns both the unit and a joint stake in the property, in a cooperative the owner does not technically own the property at all. These sales can be complex as prospective buyers must seek approval from a cooperative committee and buyers face significant HOA fees. Financing can also be tricky: some lenders won’t offer credit union loans if there are rules in place that restrict how or to whom you can sell your shares.
Almost every room is located so that you can enjoy the view.
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But none of that mattered to this apartment, which was being sold at its record-breaking price.
Anna Marie Erwert writes from both a tenant and a new buyer perspective and has (finally) achieved both statuses. She focuses on national property trends and specializes in the San Francisco Bay Area and the Pacific Northwest. Follow Anna on Twitter: @AnnaMarieErwert.
The kitchen is ready for a cook, equipped with high-end appliances and gadgets and a custom quilted back wall.
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There are four bedrooms in total; This has built-ins and a wonderful view.
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A romantic terrace awaits you from the main bathroom.
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