Virtú Investments Picks Up SoMa Luxury Apartment Complex
- Oct 03, 2012
Virtú Investments, a locally based real estate investment management firm, recently announced the purchase of a small apartment community in San Francisco’s SoMa neighborhood. The Station House Apartment Community is part of Mint Plaza, a mixed-use promenade area located in one of the most coveted spots of the city. Virtú paid $16.6 million for the condominium property, a per-unit rate of $664,000.
Built in 1900 to serve as a local fire station, the structure entered into an adaptive re-use process that turned it into a high-end residential building. Built with concrete and steel, the luxury redevelopment was completed in 2007, catering to upscale renters. According to a statement issued by the new owner of Station House, the building’s units are designed as condominium units, and although currently leased out, can be resold on an individual basis.
The units feature great finishes, including 10.5’ ceilings, over-sized industrial metal windows, gourmet kitchens, wooden cabinets, granite countertops, glass bar-tops and stainless steel appliances. The building offers a two-level restaurant/lounge space, as well as a stacked parking facility. Resident amenities include a gym, spa and outdoor barbecue area.
The luxury condominium property is located in immediate proximity to the Bay Area Rapid Transit (BART) station and a San Francisco Municipal train station, providing easy access to all residents. The Mint Plaza promenade in which Station House is located is a theme-based complex in which buildings have been redesigned in order to conform to a certain design pattern. The site offers nearby residents coffee shops, restaurants, office space and entertainment venues.
Image courtesy of mintcollectionsf.com