Austin KlarVanguard Properties · Lawyer Turned Real Estate Agent

You Won't Believe What's Happening at Millennium Tower SF Right Now!

Name: You Won't Believe What's Happening at Millennium Tower SF Right Now!
Uploaded: 2024-10-20T23:00:34+00:00
Duration: 55 s
Channel: Austin Klar
Description: In this video, Austin Klar discusses San Francisco’s Millennium Tower, noting its past structural problems—significant sinking and a two‑foot tilt that…

20 Oct 2024 · 1 min

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In this video, Austin Klar discusses San Francisco’s Millennium Tower, noting its past structural problems—significant sinking and a two‑foot tilt that required over $100 million in remediation. Despite this history, the tower continues to see active condo transactions: 14 units sold in the past year (prices ranging from $558 k for a one‑bedroom to $4 M for a two‑bedroom), the same number sold the year before, and eight sold the year prior. Currently, 13 units are on the market, including a 3‑bed/4‑bath, 3,300 sq ft penthouse listed above $7 M. Klar highlights that price per square foot has dropped markedly, now averaging $1,166 /ft² versus roughly $1,500 /ft² a decade ago, a shift driven by the building’s reputation and broader Bay Area market changes since the pandemic. He ends by urging viewers to follow him for more Bay Area real‑estate updates.

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Everyone knows about San Francisco's leaning Millennium Tower. The building at one point had sunk and was tilting more than 2 feet, and it took years and over $100 million to fix. But did you know sales actually happen at that building still every single year? 14 condos sold at the Millennium Tower in the past year, ranging from $558,000 for a 1-bedroom all the way up to $4 million for a 2-bedroom. 14 condos also sold the prior year, and 8 sold the year before that, and 13 are currently for sale in the building, including a 3-bed, 4-bath, 3,300-square-foot residence on the 50th floor for over $7 million. But how do these prices compare to prior years? Well, because of the building's past and because of what's happened in the market in this specific area over the past several years since the start of the pandemic, prices are substantially lower now than they were when this building came online. $1,166 a foot on average for the ones that are available right now, compared to about $1,500 a foot 10 years ago. Follow me for more Bay Area real estate.