January 2019 International Luxury Newsletter

Joel Goodrich

The Global Boom in $25,000,000 + Sales
Silicon Valley's Latest Starchitect Craze
Versace’s New Take on Luxury Retail
Another Record San Francisco Sale
War of The Mega-Mansions

January Social Calendar

Issue 61 - January 2019
Happy New Year!

     Greetings from San Francisco!

As we head into 2019, I'd like to wish you a Very Happy New Year, and secondly a huge thank you for your support as a reader of this newsletter, which began as an update for a few but now has over 20,000 readers worldwide via email and 40,000 people via social media.

The year 2018 has definitely been one of professional milestones for me, and I'm so grateful to have been able to share them with you as they've happened!
Sold in 2018: A Magnificent Gold Coast Mansion
www.joelgoodrich.com -

     It's been an extraordinary 26 year real estate journey of selling iconic properties to amazing people... surpassing One Billion Dollars in Sales... from celebrity estates such as Sharon Stone's oceanfront Sea Cliff mansion, to the Kanye and Kim Kardashian West estate in Bel Air Crest...

... historic properties such as the legendary 35,000 square foot Tobin Clark Estate, and multiple Gold Coast mansions... and some of San Francisco's most beautiful penthouses... as well as TV appearances on CNBC, BRAVO, Fox, CBS and others.
Sold in 2018: The Hamilton Penthouse
www.joelgoodrich.com -

     A HUGE thank you to my amazing clients, family and friends, as well as my fabulous team who made it all possible... I can't wait to see what the next 26 years will bring!
New Rental Listing: A Resort-Like Estate in Piedmont
www.joelgoodrich.com -

     I have some very exciting listings coming soon, and can't wait to share them with you.

Wishing you a 2019 filled with health, joy and success!
Stunning Pacific Heights Panoramic View Modern Residence 
$38,000 Per Month

America's Most Expensive Neighborhood

     If you live in the San Francisco Bay Area, chances are that your Zip Code is one of the most expensive in the nation!
Highest Sale in Atherton, 94027 in 2018
Sold in May for $31.5 Million

     The annual list of the 100 most expensive neighborhoods just came out, and you'll be astounded by how many are in the Bay Area.
Atherton's 94027 is America's Most Expensive Zip Code
Currently Atherton's highest priced listing is $27.5 Million

     At the top of the list is Atherton's 94027, where 11 homes sold for over $15 million in 2018!

War of the Mega-Mansions
The One in Bel Air, Asking $500 Million
     The Bay Area has the most expensive neighborhoods in America, but Los Angeles remains the setting for the world's most expensive homes currently for sale.

It's there that the "War of the MegaMansions" continues to escalate, with estates from Bel Air to Beverly Hills ranging from $180,000,000 to $500,000,000 competing for attention.
A Scene From the Opus Video

     Recently when I was in LA showing a client properties, we toured the famous $77,000,000 "Opus House," known for its stunning modernistic architecture and (in)-famous "Cleopatra" marketing video (which has been viewed over 300,000 times.)
This Home on The Peak is Asking $446,884,576

     Outside the US, the most expensive home on the market is located atop Hong Kong's Victoria Peak, and is priced at $446,884,576.

Astonishingly, the four bedroom home, built in 1991, is only 5,750 square feet.
The $300 Million 'Louis XIV Chateau'

     It will be fascinating to see how these estates sell, as currently it's believed the most expensive ever sold was the 73,750 square foot "Louis XIV Chateau" near Versailles for $300,0000,000 in 2015 to a Saudi prince.
The $300 Million 'Louis XIV Chateau'

     Built by developer Emad Khashoggi on a 57-acre walled site, the property is surrounded by moats and pays various tributes to Louis XIV of France, France's Sun King and stands on a land which once formed part of the Versailles estate!

The Global Boom in $25,000,000+ Sales
111 West 57th, New York

     In the latest news from the global ultra-luxury market, 2018 saw a boom in the $25,000,000+ market.

A fascinating new report by Knight Frank shows that 153 properties in the "ultra-prime" category of real estate in six cities sold for a combined total of $6.6 billion in the past year -- an average of $43 million per residence.

Hong Kong led the world in sales over $25 million, followed by New York, then London.
111 West 57th, New York

     A prime example of this is James Dyson’s (inventor of Dyson vacuum cleaners and hair dryers) purchase of an apartment in the Robert A.M. Stern-designed 520 Park Avenue tower for $74 million.
Penthouse 72 at 111 West 57th, New York

     This should be welcome news for the developers of Manhattan’s latest supertall 111 West 57th, which has the distinction of being the skinniest skyscraper in the world. 

Sales have finally started at the condo development, with prices starting at $18 million and going up to $57 million for a duplex penthouse.
The Penthouse at Eighty Seven Park, Miami

     Another extraordinary new residence that has just entered the ultra-luxe market is the 25,000 square foot penthouse, with two infinity pools, at Eighty Seven Park in Miami, listed for $68 million.

New Developments for 2019
A Proposed 54-Story Tower in Emeryville

     In the San Francisco Bay Area, several major developments are taking shape in 2019, with an astounding 70,000 housing units in the pipeline for San Francisco -- including 10,500 by Candlestick, 7,800 on Treasure Island and 5,680 at Parkmerced.

The most recent proposal is for the the tallest tower ever to be built in the East Bay, a 54-story condo building in the burgeoning tech hub of Emeryville.
Four Seasons Residences to Open in 2020

     Construction is underway for the 43-story Mexican Museum Tower at 706 Mission Street in San Francisco. It has just been announced that the ultra-luxury highrise, located between the Four Seasons and St. Regis hotels, will be managed under the Four Seasons Private Residences brand. 
     The Mid-Market building boom continues as well, with new plans for the "Nordstrom Tower" at 469 Stevenson Street and the "Ballet School Tower" at 30 Otis Street.
Nordstrom Tower will include 468 residences, nearly 22,000 square feet of open space (including a solarium and terrace), and 5,500 square feet of retail space, which be great for enlivening the development's frontages along Stevenson and Jessie.
Latest renditions for The Ballet School Tower call for a 26-story tower and 9-story podium complex with a total of 416 apartments, 2,200 square feet of retail space, and over 16,000 square feet of replacement space for the existing City Ballet School.
     Just as one major multi-year project nears completion, another is about to begin: CPMC's Van Ness Campus opens in March, while the San Francisco Giants' Mission Rock project will soon be breaking ground.
The Van Ness corridor continues to transform with the new $2 billion, 700,000 square foot CPMC Hospital about to open in March 2019. 

It's the most expensive medical construction project ever in the City.
The San Francisco Giants' Mission Rock project will include about 1,400 rentals, up to 1.4 million sq. feet office space, 250,000 sq. feet retail and "local manufacturing" and eight acres of parks and open space. Developer Tishman Speyer has signed on as joint venture partner. 

San Francisco's Culinary Excellence
Oyster and Rosé at Atelier Crenn
(On Roos Van de Velde pottery)

     The Bay Area's restaurant scene should be popping plenty of champagne bottles to celebrate its record number of stars on the 2019 Michelin Guide, cementing the area as one of the strongest culinary destinations in the world.
Waygu Beef with Blackberry at Atelier Crenn

     Amazingly, nearly 60 restaurants across the region were awarded the acclaimed one-, two- or three-star designation. That doesn't even include the 68 restaurants on the recent Michelin Bib Gourmand list.
Chocolate Mignardises at Atelier Crenn

     San Francisco’s Atelier Crenn and Healdsburg’s Single Thread were new additions to the top-tier, placing the Bay Area in the lead -- surpassing even New York -- for having the most three-star restaurant designations. Chef Dominique Crenn became the first American woman to be awarded three Michelin stars.
A Dessert Trio at Atelier Crenn

     Meanwhile, if you’re eager to try the newest hotspots in town, Esquire Magazine just published its list of best new restaurants for 2018, and three are in San Francisco, including the #1 -- be sure to check them out if you haven’t been there!

Virgin Hotels to Open January 11th
Commons Club at Virgin Hotels San Francisco

     With the ribbon cutting ceremony for the newly expanded, $551 million Moscone Center taking place January 3rd, the City already has seen a record number of hotel rooms booked for 2019, definitely a bullish sign for our local economy. 
A Design Feature at Commons Club

     Just a week later (January 11th) and one block away from Moscone, Virgin Hotels is finally opening its doors at 250 4th Street.
The Rooftop Bat at Virgin Hotels San Francisco

     The hotel will have a rooftop bar, a coffee shop and Commons Club, a dining room and cocktail bar overseen by chef Adrian Garcia.
A Public Rooftop Terrace at 555 Howard

     And yet another major five star hotel (in addition to the Waldorf Astoriaat the upcoming Oceanwide Center) will be coming to SF -- it's to be located at the new Renzo Piano -designed highrise at 555 Howard.
The Mansion on Sutter

    On the other end of the hotel spectrum, it’s fun to see the opening of "The Mansion on Sutter" in the genre of some of the City’s historic hotels located in grand, formerly private residences.

Tech Giants Take More Space

     The Bay Area's commercial real estate market continues to break records thanks to our major tech companies. Here are the most recent transactions to make news.

In May, Facebook signed a lease for all 755,900 square feet in Park Tower, a 605-foot skyscraper at 250 Howard Street, which is still under construction -- San Francisco's biggest office lease ever.

Park Tower could soon break another record with the potential sale of a 49 percent ownership stake in the tower at a price that could exceed $1,500 per square foot, (over $550 million) -- the highest price per square foot for an office building in the City.

Salesforce is taking its pre-leasing strategy to a whole new level. The cloud software company has claimed space in a proposed tower that isn’t even approved to start construction yet.

Salesforce signed a deal for 325,000 square feet in a project known as Parcel F at 550 Howard Street -- the last major skyscraper to rise as part of the Transbay district, and the fourth tallest tower in San Francisco. The first? Salesforce Tower, of course.

Google just made the region's biggest real estate buy of the year on a 51.8 acre Mountain View office park for $1 billion, showing that the tech titan’s appetite to own more square feet in space-constrained Silicon Valley isn’t slowing.

It's the second largest transaction in the US in 2018. The largest was $2.4 billion for Chelsea Market in New York. The buyer? Google.

Silicon Valley, which in the past hasn't been know as an architectural mecca, is accelerating its pace toward starchitect-designed buildings.

The latest example being the expansion of Facebook's spectacular Frank Gehry-designed campus, a highly sustainable building with 3.6-acre rooftop garden featuring over 200 trees -- I have a feeling it's going to get alot of "Likes", LOL!

From the Gilded Age to the Age of Glitz

     The celebrity real estate market continues its non-stop swirl with several notable properties on the market, including the $35 million Bridgehampton estate of the late Joseph Kennedy (patriarch of the Kennedy political dynasty), and his daughter Jean Kennedy Smith (President Kennedy's last living sibling).
Ralph Lauren in the Hamptons

     In nearby Montauk, fashion designer Ralph Lauren is paying $20 million for the home of the late playwright Edward Albee (known for winning three Pulitzers and two Tonys for his brilliant work).  

Lauren already owns the properties on either side, so it will be interesting to see if he uses the rather modest home as another getaway or merges the three beachfront estates.
1909 Portrait of Anne Harriman Vanderbilt 
By François Flameng Paris

     While Ralph Lauren often evokes the refined, old world lifestyle of America's wealthiest after the turn of the century, Anne Harriman Vanderbilt was the kind of Edith Wharton heroine who actually lived that life -- and the heiress's legendary Sutton Place townhouse in Manhattan is now on the market for $21 million.
1 Sutton Place, Asking $21 Million

     When built in 1921, it and its neighboring home (then owned by Vanderbilt's lover, heiress Anne Morgan, and now home to the Secretary General of the United Nations), established Sutton Place as Manhattan's new "society colony."
1 Sutton Place, Asking $21 Million

     Current residents of the neighborhood include architect I. M. Pei, designer Kenneth Cole, and actress Sigourney Weaver.
The Private Garden at 1 Sutton Place

     Located on a private cul-de-sac at the end of 57th Street, it has a private garden along the East River -- a true rarity.
     While Sutton Place suggests the Gilded Age, other important properties this month call to mind our more modern world of glass, glitz and glamour.
Versace's New Boutique in Munich

     Perhaps as far from the world of Ralph Lauren as you can get, Versace(newly acquired by Michael Kors), recently called on French designer Gwenaël Nicolase to create a super-futuristic new concept for its Munich boutique, using a stunning interplay of fragmented light, glass and mirrors.
Versace's New Boutique in Bal Harbour

     The new design concept will also be unveiled in Versace's Bal Harbour store in Miami.  It's an example of how the world’s most recognizable luxury brands are evolving their boutiques into immersive “experiences” to compete with ever-growing online shopping.
Philip Johnson's Wiley House, Asking $8.5 Million

     No one used glass for a more modern effect than the late Philip Johnsonwith his stunning glass houses.

His Wiley House, a double-height glass building in New Canaan, conceived in the 1950s and recently restored by Roger Ferris + Partners, is currently listed for $8.5 million and will delight lovers of contemporary architecture.
A Frank Lloyd Wright House for $12.95 Million

     The work of another 20th century master is also for sale. A Frank Lloyd Wright estate in Phoenix which inspired his iconic Guggenheim Museum in New York City is currently on the market for $12.95 million -- much less expensive than buying a museum!
A Frank Lloyd Wright House for $12.95 Million

Looking Ahead to 2019

     As we go into the New Year from a festive Holiday Season, the San Francisco Bay Area continues its unparalleled tradition of giving back.

In the new list of the top 25 philanthropists in 2018 upholding this wonderful tradition, it’s fascinating to see some of the oldest names in tech and industry combined with the newest. 
Airbnb is expected to IPO in 2019

     And in another positive note for philanthropy, the Bay Area economy, and its real estate market, a number of IPOs are schedule for 2019 that could generate more funding that any other year.
Uber and Lyft are expected to IPO in 2019

     According to Richard A. Walker, professor emeritus at UC Berkeley, "We're creating multimillionaires and billionaires faster than any other place."

Meanwhile, some renowned economists such as Ken Rosen are predicting an upcoming recession which, he says, will be "like the recession of the early 2000s — tech centered, bubble centered."

So how are these cross-currents going to play out in this coming year? Stay tuned for my 2019 Real Estate Crystal Ball!
San Francisco Ballet Opening Night Gala Dinner

     Below is my New Year Calendar of Events which I hope you'll enjoy. This month I especially look forward to supporting the San Francisco Ballet at their Opening Gala. 

I hope to see you around town on the non-stop circuit of fabulous events in our unique City-By-the- Bay!

Happy New Year!
Joel Goodrich | Global Luxury Real Estate Advisor
Coldwell Banker Previews International
415.308.8184 | JoelGoodrich.com | BRE# 01028702
7 | Monday

Quiet Lightning at Manny's

The 10th year of a live "literary mixtape", performed one night only at Manny's, 3092 16th Street, SF, 7:00 PM.

Admission: $20


9 | Wednesday

Valentino Preview

Preview the Valentino Spring 2019 collection, Saks Fifth Avenue, Union Square, 10:00 AM to 6:00 PM.
10 | Thursday

Silicon City Book Launch

The launch of "Silicon City," by Cary McClelland. Encina Hall, Bechtel Conference Center, 616 Serra Street, Stanford, 5:30 PM to 8:00 PM.

Admission: Free

12 | Saturday

Surviving San Francisco

A new comedy show about life in SF. Manny's, 3092 16th Street, SF, 8:00 PM to 9:30 PM.

Admission: $15

14 | Monday

Lunch with Armando Varricchio

A luncheon with His Excellency Armando Varricchio, Ambassador of Italy.  World Affairs Auditorium, 312 Sutter Street, Suite 200, SF, 11:45 AM to 1:15 PM.

Admission: $45

14 | Monday

Carol Burnett Tribute

SF Sketchfest pays tribute to Carol Burnett, featuring a conversation between the comedy legend and actress Wendy Malick. Castro Theatre, 429 Castro Street, SF, 8:00 PM to 9:15 PM.

Admission: $55 and up

15 | Tuesday

Steven Pinker

Acclaimed cognitive psychologist and best-selling science writer, Steven Pinker, discusses his new book, "Enlightenment Now." Jewish Community Center of San Francisco, 3200 California Street, 7:00 PM.

Admission: $30

15 | Tuesday

Oscar de la Renta Preview

Preview the Oscar de la Renta Spring 2019 collection. Saks Fifth Avenue, Union Square, 10:00 AM to 7:00 PM. Also, January 16th, 10:00 AM to 7:00 PM.
16 | Wednesday

FOG Fair Preview Gala

Preview the 2019 FOG Fair, Fort Mason Festival Pavilion, 4:00 PM to 10:00 PM.

Admission: $175 to $10,000

18 & 19

Elton John Concert

Elton John's "Farewell Yellow Brick Road" concert. January 18th at Oakland Arena, 8:00 PM. January 19th at SAP Center, San Jose, 8:00 PM.

Admission: $375 and up


18 | Friday

Busy Tonight

Busy Philipps and her special guests hold a live adaptation of her hit E! talk show, "Busy Tonight!"  Marines' Memorial Theatre, 609 Sutter Street, 7:30 PM to 9:00 PM.

Admission: $35


19 | Saturday

'Best In Show' Reunion

A very special evening, with the full cast, director and writer of "Best In Show" reunited for the film's 20th anniversary. Castro Theatre, 429 Castro Street, SF, 4:00 PM to 6:30 PM.

Admission: $45 and up

23 | Wednesday

SF Ballet Opening Night

Celebrate the 2019 San Francisco Ballet season with "This is Passion: Opening Night Gala," chaired by Claire Stewart Kostic. 

Admission: $1,500 and up

24 | Thursday

HBO's "Crashing"

A conversation with the team behind HBO's hit show "Crashing," including Pete Holmes, Judd Apatow and Madeline Wise. Alamo Drafthouse at the New Mission, 2550 Mission Street, SF, 7:00 PM to 8:30 PM.

Admission: $25

31 | Thursday


SFJAZZ Gala 2019 honors Chucho Valdés with the SFJAZZ Lifetime Achievement Award. Chaired by Darian and Rick Swig. 201 Franklin Street, SF, 5:30 PM.

Admission: $145 and up

February 1 | Friday

Howard Schultz

Former Starbucks Chairman & CEO talks about his new book, "From the Ground Up: A Journey to Reimagine the Promise of America." Jewish Community Center of San Francisco, 3200 California Street, SF, 7:00 PM.

Admission: $20

Piedmont Estate: $22,000 Monthly
Stunning Pacific Heights Panoramic View Modern Residence
$38,000 Monthly
Victorian Mansion in Pacific Heights, $5,995,000
www.1945FranklinStreet.com -
Chenery House, Available for $7,785,000
www.47CheneryHouse.com -
The Bransten House for $7,495,000
www.JoelGoodrich.com -
A Residence at the Highly Coveted Nob Hill Tower, $5,500,000
www.1170SacramentoStreet17A.com -
Three Mendocino Inns & Residence $5,300,000
www.JoelGoodrich.com -
Beautifully Renovated Victorian Residence for $4,995,000
www.2611CaliforniaStreet.com -
Stunning, Spacious, Nob Hill Residence, $3,200,000
www.850PowellStreet104.com -
Exceptional Russian Hill Home, Asking $2,450,000
www.2164HydeStreet305.com -
Nob Hill Luxury at The Montaire, Asking $2,198,000
www.1340ClayStreet603.com -
Luxurious Mission District Penthouse $1,998,000
www.3590-20thStreet-502.com -
Light Filled Modernism at The Comstock for $1,575,000
www.1333JonesStreet901.com -
Fantastic Corner Residence at Cathedral Tower for $1,175,000
www.1201CaliforniaStreet904.com -

Listings Presented by Joel Goodrich | Coldwell Banker Previews International | 415.308.8184
BRE# 0102870 | www.JoelGoodrich.com

Coldwell Banker Previews International
1560 Van Ness Avenue
San FranciscoCA 94109

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With over $1 billion in sales, we pride ourselves on offering the highest level of top notch service. Joel Goodrich is an internationally recognized luxury real estate agent in San Francisco, who works closely with the sale and purchase of the area’s most exclusive listings. From prominent estates to investment properties, Joel’s expertise and professionalism solidifies him as one of the top luxury realtors in the country.

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