San Diego Union-Tribune February, 19 2016
41-story tower’s 215 luxury condos start at $1.4M; builder pays $15M for penthouse.
The public will get its first look at the luxury Pacific Gate condo tower showroom Sunday. But if they want to buy the 9,000-square-foot penthouse on the 41st floor, it’s too late. Project developer Nat Bosa said at a preview Wednesday that he’s buying the $15 million unit. “I think I can get $20 million for it,” he added, if he decides to sell later.
He said prices for the project’s 215 units will start at $1.4 million for the 1,240-square-foot, two-bedroom units. To make a reservation, buyers will be required to submit a $10,000 deposit. Pacific Gate, under construction at Broadway and Pacific Highway, represents the vanguard of downtown’s next wave of new condo developments after years of rental-only developments. Bosa has several other sites on which he plans other towers in addition to those he has completed over the last 15 years. At the sales office at 700 Front St. in the former Paladian retail building, Bosa showed off a model bathroom, bedroom, kitchen and living room. High-end features include a computer screen embedded in a mirror, a dog bowl shelf that pops out from underneath a cabinet and simulations of the view from the project’s upper floors. The sales office will be open to the public from noon to 3 p.m. Sunday and from 11 a.m. to 5 p.m. daily starting Monday. Information is available at (619) 795-3612 and pacificgatebybosa.com.
Dozens of real estate agents and existing Bosa owners attended the sales office preview and took special notice of a downtown model that debuted last year at Bosa’s ReThink Downtown exhibition in the same space. The spaces includes samples of the finishes and background on the project and its designers. One agent who attended was Seth O’Byrne, who heads a sales team at Pacific Sotheby’s International Realty downtown office. He said 80 clients asked him to place them on the buyer interest list and one person committed to buying Thursday.
“I think San Diego is ready for these prices,” O’Byrne said. “There are more hyper-wealthy families chasing after great real estate to park their money than there is product right now. If they buy, they will have access to a “private luxury car fleet,” a yacht they can rent for the day and a “chef concierge,” who will be ready to handle “chef services.” Other amenities will include a fitness center, an outdoor pool terrace, a pet “retreat” and guest visitor overnight accommodations.”
Pacific Gate was designed by Kohn Pedersen Fox and Chris Dikeakos Architects to resemble a conch shell at the top. Design architect Jamie von Klemperer at KPF aimed to create a building that, as the text reads in the sales office, “was unusual yet flowed comfortably and elegantly.” Hirsch Bedner Associates, a hotel interior design firm based in Santa Monica, handled the interior design, which includes quartz countertops, white terrazzo floors, high-end appliances and stone slab vanities.
Click here for more Pacific Gate information and register for interest list.
See original U-T article here.