Penthouse for Nob Hill's new Crescent luxury development comes online

San Francisco Business Times | Ted Andersen

Located across the street from the Fairmont Hotel, the Crescent features 44 residences within a boutique eight-story building, representing the first new significant residential development in the neighborhood in decades. Photo: Matthew Millman

The snazzy penthouse atop Nob Hill's newest luxury housing development has come to market this week for $7.1 million.

Situated at the intersection of California and Powell streets, Crescent features 44 residences within an eight-story building, representing the first new significant residential development in the neighborhood in decades.

The penthouse is an artistic 3-bedroom, 2.5-bath residence with design and furnishings by San Francisco-based Jeff Schlarb Design Studio, the same designer who recently created models for the new Four Seasons Residences on Mission Street. The penthouse offers 1,825 square feet inside and 925 square feet of exterior space, encompassing two private terraces on the main floor and a private roof terrace with views of downtown San Francisco, the bay, Coit Tower and North Beach. The residence also includes a 24-hour attendant and two-car parking in an automated parking garage with a private valet.

The living room and dining area at Crescent's penthouse. Photo: Aubrie Pick

Schlarb said he outfitted the penthouse to complement the neighborhood’s historic charm and the building’s architecture and interiors, inspired by pre-war apartments. “My vision in designing the penthouse at Crescent was to imagine a resident feeling inspired every time they enter their home,” Schlarb said. “We kept drawing upon the idea of creating a custom, romantic space that feels exciting and familiar at the same time, straddling a careful balance of maximalism and softness while honoring the unparalleled architecture and world-class design of this one-of-a-kind building and its residences. The color palette, in particular, draws upon nature and complements the stunning sky and bay sight lines visible from terraces that span the home.”

San Francisco-based Grosvenor Americas Inc. collaborated with New York-based Robert A.M. Stern Architects (RAMSA) on the project, which is also RAMSA’s — a firm of about 265 people — first multi-family residential building in San Francisco. The penthouse's availability comes ahead of Crescent’s summer 2020 opening and its start of sales for the rest of the units, which were designed by New York-based Champalimaud Design.

Expected to open later this summer, the luxury development — which sits across the street from the Fairmont Hotel — represents the first of its kind for the high-end neighborhood in decades.

Compass Real Estate is its exclusive marketing and sales firm.

The site sits across from to the Fairmont Hotel, the Stanford Court Hotel and the University Club of San Francisco, but despite this top-quality location, “that site was all parking and vacant,” Daniel Lobitz, partner at RAMSA, told the Business Times in October. “We try very hard to design a building that will contribute to the surrounding neighborhood. We like to create a building that fits in but also makes its own statement.”