Penthouse Unit at 181 Fremont Trades for Record Price

SAN FRANCISCO—A penthouse unit at developer Jay Paul’s luxury condominium project 181 Fremont here has traded for $15 million, setting a new record sale price in the city of more than $4,500-a-square-foot.

The record-setting transaction was reported by brokerage firm the Mark Company, Pacific Union International’s sales and marketing team which brokered the sale of the half-floor penthouse in San Francisco’s newest luxury development. The identity of the buyer was not disclosed.

“We are confident in our firm’s strategy,” says the Mark Co. CEO Ross McCredie. “As we enter the second half of the year, I am excited about the opportunities for our business and look forward to delivering on our growth and strategic objectives for 2018 and beyond.”

Recently TMC was awarded two new developments; 875 California, a Nob Hill development from Grosvenor that will launch sales in 2019, and 901 Tennessee in the Dogpatch arts district. Locale Capital Group is developing the latter, with sales starting in the fall of this year.

The Mark Co. also commenced sales efforts at Grosvenor’s 288 Pacific in San Francisco’s Jackson Square in early 2018, putting 50% of the building under contract in less than two months.

McCredie’s projected new growth includes geographic expansion for Pacific Union and The Mark Co. into Colorado with the recent hiring of respected industry producer Micki Clark as managing director. Clark oversees the brand’s sales and marketing opportunities in that expanded Western region. She has previously delivered more than $3 billion in real estate sales in the last 12 ears across 15  states and 16 countries.