San Francisco

Optimistic Homeowner Tries to Sell Sinking Millennium Tower Condo in SF for Almost Double What He Paid

The sinking and tilting of the 58-story Millennium Tower in San Francisco has caused great losses for most of its residents who see themselves forced to sell their multi-million dollar condos at an average loss of $320,000, Business Insider reports.

One optimistic seller, however, listed his 2,706 square foot, two-bedroom, three-bath unit for $5.6 million, almost double what he paid for it back in 2008 at $3.23 million.

The residence offers 180-degree views, spanning 40 miles from the North Bay, Richmond-San Rafal Bridge and Sausalito to Potrero, Burlingame and the South Bay.

Thought this might seem like an oddity to many, the owner of unit 55A might have made a good choice as the city is working on repairing the tower.

In January, crews launched a $9 million exploratory drilling project to evaluate a planned fix for the sinking and tilting structure.

According to SF Gate, the broker of apartment 55A says the owner lives in the East Coast and has only spent a few days in his condo in San Francisco. However, he claims he invested a lot of money in the interior design and renovation of the property and would like to see a profit.

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