The 'Leaning Tower of San Francisco' might not be the only one sinking

San Francisco’s condo market doesn’t need this sort of debacle at the moment. Condo prices are already under pressure. Sales volume has been down all year. The luxury end is in trouble. And South of Market, where this debacle is located – the epicenter of the building boom and until recently one of the hottest spots in San Francisco – is going cold. According to Paragon Real Estate, SoMa’s median condo price year-to-date fell 1.3% from the same period in 2015. And now SoMa has the Leaning Tower of San Francisco. Someday it might make a fabulous tourist attraction, much like its famous sister in Pisa, Italy, but for now it’s just an ultra-luxury debacle called Millennium Tower, the most luxurious condo tower in San Francisco and perhaps in California. -- More...