Most new housing built in San Francisco bills itself as “luxury” because the sky-high costs of development requires developers to target the upper-end of the market. But now a new niche is on the rise: the ultra-luxury condo.
The latest project in this vein, One Steuart Lane, recently broke ground at 75 Howard St., where the 120 condos will each need to fetch at least $2.5 million just for the developer to break even.
That means the homes will hit the market at upwards of $2,500 per square…
