Work to begin on city's priciest penthouse
From the San Francisco Business Times, “Plans to build San Francisco’s largest and priciest penthouse are under way.”
“Victor MacFarlane, an urban developer with projects nationwide, has hired a team to combine the three penthouses he purchased last month at the new St. Regis condo/hotel tower for an estimated $30 million. The properties, now in shell condition, will be transformed into a single residence for his family measuring as large as 20,000 square feet. That could cost $20 million or more in additional construction, according to market estimates.”
“[The construction firm in charge of the project] said construction is expected to begin within the next few months with the MacFarlane family moving in about a year from now. Although he declined to speculate what the project will cost — he said drawings have not even been finalized — initial market reports place it in the $1,000 per square foot, or in the $20 million range.”
