Sailing fans scope out prime spots on San Francisco Bay

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As San Francisco gears up for the 34th America's Cup next year, a race of a different kind has already begun: one to snag the best views of the sailing regatta.

Peter Jacobsen, a semiretired dentist from Yountville, Calif., isn't taking any chances when it comes to ensuring a view of the America's Cup racecourse on San Francisco Bay. Dr. Jacobsen and his wife, Gwendolyn, last year paid $158,000 for a fractional interest in a one-bedroom unit at a ritzy condo development right by San Francisco's waterfront.

The deal guarantees just 35 nights a year at the property — but importantly, a Bay-view unit for two weeks during the America's Cup finals scheduled for September 2013.

Click here for the full report by the Wall Street Journal.