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Millennium Tower in San Francisco is a $750M sellout

Millennium Tower condominium sales generated a 25 percent return on cost for the development

Five years and $750 million later, the West Coast’s most luxurious condo project is sold out. Millennium Tower, a glassy slate-blue 60-story highrise at 301 Mission St., closed the last of its 419 units, the company said. Despite selling through the worst economic collapse since the Great Depression, the tower generated $750 million in sales, a 25 percent return on cost for the $600 million development. The units averaged $1.8 million, with penthouses selling for as much as $9.8 million, or $1,970 a square foot for a 5,000-square-foot pad. Read more…

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