Client Briefing - March 2024
Clients, Friends, & Colleagues:
What a difference an election makes. Ten days ago California Primary voters went to the polls and sent San Francisco leaders a clear message, backing centrist measures on police authority and drug screening. Judges perceived to be light on drug dealers faced challengers. Two centrist candidates have announced robust campaigns to become our next mayor.
“Has San Francisco Lost its Liberal Soul?” asks a March 8, 2024 New York Times headline, whereas weeks earlier the Wall Street Journal reported “Tech Leaders Fled San Francisco during the Pandemic. Now, They’re Coming Back.” As the media narrative about San Francisco changes, well-funded AI companies contract for downtown offices and tech companies slowly expand policies requiring return-to-work at offices. Our city’s transformation begins now.
Our real estate market has taken notice. Buyers focusing on the future are just entering the market at various price levels, and they are transacting. Showings of our listings have increased briskly, and several have accepted offers. It’s March 15th and this year is starkly different from last.
Over the next six weeks our Team launches five spectacular new listings on Nob Hill, Telegraph Hill, Russian Hill, Cow Hollow & Pacific Heights. Two are profiled here, and we’ll soon share details for the others.
Until then, I welcome you to reach out to me for a strategic discussion of your personal real estate goals here in San Francisco, or in any of the 81 countries where Sotheby's International Realty advises clients.?
GREGG AND THE TEAM
San Francisco
Market Update: February 2024
Each month this Briefing includes data on condominium/cooperative apartments and single-family homes, priced above $1M and $5M, across the City. Highlights of the San Francisco real estate market during February 2024 include:
In the News
WSJ: Tech Leaders Return to SF
The Wall Street Journal recently reported on the return of Tech Leaders to San Francisco who fled to Florida, Texas, and other tax haven states during the Pandemic, citing the AI revolution, innovative academia, and renewed commitment to return-to-work policies. The impact of such a trend is obvious - confidence in our city's ability to reclaim its position as the world's technology center. A link to the full article is in the Briefing below.
Just Sold
2000 Washington Penthouse
I am honored to have represented the sellers in the marketing and sale of 2006 Washington #2, representing the highest sale price for a co-operative apartment since 2022. With its large-scale rooms, majestic staircase, and six terraces – the 2006 Washington Duplex is a Pacific Heights apartment nonpareil.
New Listing
Grand Pacific Heights Home on a Coveted Flat Block
Our Teammate Kevin Delmore leads the launch of the listing of our latest jewel in the Pacific Heights crown - 2422 Buchanan at $6,250,000.
First appearing in 1895 city directories, 2422 Buchanan hosts romantic architectural details balanced with infrastructure and layout that reflect 21st Century preferences. This modernized six-bedroom home combines voluminous entertaining spaces drenched in natural light with the elegance, scale, materials and craftsmanship of a true Victorian-era residence.
In the News
2006 Washington #10
The San Francisco Business Times breaks the news of our listing of 2006 Washington #10, one of the most extraordinary apartments on the West Coast.
领英推荐
Sotheby's International Realty
Luxury Outlook: With Real Estate Prices Rising and Tax Changes Coming,
Strategizing Is Key
Real estate is not only the most significant asset many people transfer to their heirs, but also the most complicated aspect of an estate plan. The legacy of a family residence or vacation home can have major investment and tax implications.
Given a strong appreciation in real estate values in recent years and the looming drop in the estate-tax exemption, even folks who do not consider themselves high-net-worth will have to get strategic to minimize the tax impact of their wealth transfer, says Jason Thompson, chief wealth strategist at Rockefeller Global Family Office.
This Luxury Outlook article explores the dynamics of upcoming estate tax expirations, strategies for beneficial wealth transfer, and the rise of real estate values.
View Our Listings
Homeowners partner with the Gregg Lynn Team to secure an unparalleled combination of market expertise, unprecedented marketing reach, and a unique ability to steward the most complex transactions to the closing table. View our current inventory of exclusive listings representing people & property across the City.
SOTHEBY'S INTERNATIONAL REALTY MARKET LEADERS
Our Favorite Listings Outside San Francisco
Sotheby’s International Realty is the global leader for luxury real estate representation, and our clients – who buy and sell real estate all over the world – agree: it very much matters who represents you. When you, your family, friends, or colleagues consider exploring a home in the Bay Area and beyond, please allow us to introduce you to the most trusted and experienced realtor in any market.
BOCA GRANDE, FLORIDA
Coastal Sophistication, Boca Grande Living
This 2,000 sq. ft. residence is an intimate sanctuary, commanding a mesmerizing view of 80 feet of pristine waterfront. The private dock, featuring an 8000-pound lift and kayak platform, beckons exploration of serene waterways. Nestled on a tranquil street, near the captivating Historic Village of Boca Grande, this residence is surrounded by the town's renowned old-world charm, and pristine beaches.
233 Waterways Avenue, Boca Grande, FL 33921 | Offered at $6,250,000
Presented by our Sotheby's International Realty colleague, Rich Taylor.
CONCORD, MASSACHUSETTS
210 Monument Farm Road
A gated family compound, sprawling nearly 6 acres in historic Concord. This exquisite estate has a seven-bedroom main house, adorned with refined living spaces, complemented by three guest houses, an indoor pool with retractable roof, and a state-of-the-art fitness center with an enclosed glass infrared workout room. Revel in unmatched privacy with advanced smart home technology, a commercial kitchen, tennis court, greenhouse, and fruit trees amongst the picturesque landscapes of New England. Truly a distinguished haven of sophistication and tranquility.
210 Monument Farm Road, Concord, MA | Offered at $21,500,000
Presented by our Sotheby's International Realty colleague, Beth Dickerson
NEW YORK, NEW YORK
The Plaza Penthouse
The Plaza Hotel Condominium. Double Plaza Penthouses. NEVER BEFORE, NEVER AGAIN. A mansion at its apex includes over 10,000 +/- square feet of private and guest quarters and an 82-foot-long terrace with an incomparable vantage point of Central Park stretching to its far north vistas.
1 Central Park South, PH 2003/PH 2009 New York, New York 10019
Offered at $70,000,000
Presented by our Sotheby's International Realty colleagues,
Nikki Field & Amanda Field Jordan
Navigating SF real estate is like Picasso in paint - mix strategy & creativity for success! ???? #RealEstateInnovation
Senior Global Real Estate Advisor at Sotheby's International Realty
8 个月Great piece, Gregg. Thanks for sharing. Our daughter, Courtney, used to live at 1950 Gough. We loved looking over at 2006 Washington. It might be the most amazing building in the US. Good luck!