Millennium Tower’s sinking and tilting hasn’t scared people off from buying and renting condos
June 1, 2022
Updated: June 1, 2022 3:42 p.m.
Luxury condos in downtown San Francisco’s Millennium Tower are still attracting wealthy buyers and renters six years after news broke of the building’s sinking and tilting — though sales in the building have slowed down.
The 58-story building’s structural problems, first reported by The Chronicle in August 2016, have captured international attention. But the precarious situation has not deterred buyers and renters from living in a building that attracted high-profile residents such as football legend Joe Montana with its opulence.
At least 47 units have sold at Millenium Tower since August 2016, according to real estate broker data and county assessor records gathered by theFrontSteps, a real estate website. Sales at Millennium Tower in this six-year span have ranged from $650,000 to $13 million for a 5,500-square-foot penthouse once owned by the late venture capitalist Tom Perkins.
As of February, the tower at 301 Mission Street in the city’s Transbay area had sunk 18 inches and tilted 24 inches to the west. Project engineers have said the building will continue to tilt and are implementing a $100 million fix that involves installing new piles. Construction is ongoing.