#SF MILLENNIUM TOWER SINKING SOFTWARE#

Hamburger of Simpson Gumpertz & Heger, the firm working on behalf of Mission Street Development to rectify the building’s structural issues. Engineers have installed 18 piles to supplement the building’s existing foundation and are now working to transfer weight from the building onto the new piles, according to Ronald O. More recently, engineers have been working to stabilize the building and correct the tilt. Mission Street Development couldn’t immediately be reached for comment. More: Cape Cod but Without the Crowds in These Five Coastal Alternatives The project’s developer, Mission Street Development, was sued by the city and building residents. In 2016, reports circulated that the South of Market building was tilting and had lost more than a foot in height since its completion, and was expected to sink more. Ramsey paid $13 million in 2016 to buy the furnished apartment from the estate of the late venture capitalist Tom Perkins.

The roughly 5,000-square-foot, two-bedroom apartment is on the top floor of the approximately 60-story luxury condo building, which opened in 2009.

#SF MILLENNIUM TOWER SINKING SOFTWARE#

The seller is tech-industry veteran Craig Ramsey, a co-founder of the publicly traded cloud-computing company Veeva Systems and of the software company Vlocity, which sold to Salesforce for about $1.3 billion in 2020, he said. At Millennium Tower, the San Francisco condo building beset by reports that it is sinking, a penthouse apartment is coming on the market for $14 million.

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