SF New Developments

San Francisco Business Times – March 17, 2006

by J.K. Dineen

Don Peebles is finally getting a piece of SoMa.

The Miami-based luxury hotel and condo developer, who has been aggressively bidding on properties in San Francisco for a year, will pay $20 million for 250 Brannan St., the brick-and-timber former Gallo Salame meat plant most recently used for dot-com offices.

Peebles said he will invest another $30 million to convert the 104,000-square-foot office building into 54 ultra luxe Soho-style lofts and multilevel townhouses that he promises will “introduce a new standard for loft living in San Francisco and the Bay Area.”

…

The 250 Brannan project will feature high ceilings — up to 32 feet in some units — floating staircases, private terraces, built-in cappuccino machines, wine cellars, gyms, screening rooms and darkrooms, he said. The two-level custom penthouse will have a “spectacular solarium” and will not be priced. The smallest units will start above $800,000 and the townhouses will be priced in the $3 million range, he said.

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