Sales burst at S.F.'s Millennium Tower - San Francisco Business Times:

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million. The burst of activity follows threse months during which sales activity at the Millenniumj was ata standstill, a slowdown that promptedr the developer to cut prices for all The 15 percent reductions also apply to units alreadh in contract prior to the price cut. “So far, so said Richard Baumert. The 5,555 squares foot penthouse that went into contractis 59A, half of the 59th The other six units range from a low of $626,000 to a high of $2.6 with an average price of $1.5 million. With the 15 percenrt discount, the buyer of 59A -- a woman who asked not to be identified -- save $1.8 million. “This person very much wanted to be in the said Baumert.
The building is nearly with the first closingsand move-inx slated for April. The building will also be home toMichaep Mina’s RN74 restaurant, also set for an Aprik opening. Baumert said most of the new buyers had felt they were pricec out oft he building beforethe reductions. “Clearlty for most people it was abourt the15 percent,” he said. A half mile west of the and at the opposite end of the San Francisco condoprice spectrum, George Hauser’s Cubix Yerba -- 98 pint-sized studios -- has also seen an upticl in traffic since cutting prices on Jan. 20.
William managing broker with Hausbau, said they have put five units into contractr in the past 10 The project had been averaging four to five sales a mont prior tothe so-called “economicf stimulus sale,” which reduced some prices by 30 The Cubix features tiny and pricing now ranges from $215,000 for a courtyard-facing studiko with patio ($90,000 less than the originalo price of $305,000) to $279,000 for a penthouse level home with a city view ($65,000o less than the original price of $344,000). “There is a wide rang of people who seem to be interested at the newpricwe point,” said Mollard.