2012 Dec 12, 8:30am
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Sitting on Broadway in San Francisco, otherwise known as the Gold Coast and Billionaires Row, 2901 Broadway has closed escrow for $28,850,000 which goes down in the record books as the third most expensive real estate transaction in San Francisco history.
"Property tax records show only $7,900 was paid to the city last year. The city can expect to receive at least $300,000 more annually going forward."
Looks like $30M is about the ceiling. Wasn't the St. Regis penthouse also sold for about $28M?
SF lacks oil money.
$300,000 of new tax revenue without prop 30!