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Spectacular Bank-Owned Penthouse Sets S.F. Condo Record

Real estate tycoon Victor MacFarlane is believed to have spent some $56M creating this 20,000-square-foot penthouse atop San Francisco's St. Regis, but his high-dollar dreams of living in the clouds were dashed when he was forced to sell the glassy aerie to the bank to avoid foreclosure. Now, the bank has finally found a buyer for the premium property, though at a much lower price than the $70M MacFarlane was originally asking. According to the Wall Street Journal, an unknown buyer has just paid $28M for the six-bed, 12-bath mansion-in-the-sky, the highest price ever paid for a condominium in the city. For that sort of coin this mysterious rich person will be getting 22-foot ceilings in the living room, a two-story waterfall, a 2,500-square-foot master suite with gym and sauna, and 3,000-square-feet of terraces.
· Condo Sale Sets Record for San Francisco [WSJ]
· Fanciful St. Regis Penthouse Now Bank-Owned and Half Off [Curbed SF]