Author: Agggregated News
Landlords say they’re dropping eviction pursuit of elderly SF tenant and other tenants following NBC Bay Area story … – NBC Bay Area
One day following an NBC Bay Area story on the possible eviction of Helen Byrne, 94, from her San Francisco apartment of eight decades, the property’s owners say they now plan to allow Byrne and the building’s other tenants to remain in their homes. “While the initial decision to purchase a rental property was made with the intention of investment, the goals for this property have since changed – with a focus on people over profits,” said Dan Mytels, the manager of the LLC that owns the property, in a…
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Landlords say they’re dropping eviction pursuit of elderly SF tenant and other tenants following NBC Bay Area story – NBC Bay Area
One day following an NBC Bay Area story on the possible eviction of Helen Byrne, 94, from her San Francisco apartment of eight decades, the property’s owners say they now plan to allow Byrne and the building’s other tenants to remain in their homes. “While the initial decision to purchase a rental property was made with the intention of investment, the goals for this property have since changed – with a focus on people over profits,” said Dan Mytels, the manager of the LLC that owns the property, in a…
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Mosser and Swig Fall Behind on Debt Tied to SF Apartments – The Real Deal
Mosser Capital and the Swig Company have fallen behind on payments for a $68 million loan tied to five apartment buildings in San Francisco, The Real Deal has learned. The firms are 30 days delinquent on debt provided by MF1 Capital and then packaged into a collateralized loan obligation, or CLO, according to data from Trepp, which cited servicer commentary. The debt is tied to 825 Post Street, 750 O’Farrell Street, 1008 Larkin Street, 839 Leavenworth Street and 72 Gough Street. Together, the properties, which were built between 1907 and…
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AI Growth Won’t Save SF Office Sector, Report Finds – The Real Deal
AI companies have leased 1 million square feet of San Francisco office space since 2020. But with about 30 percent of existing leases due to expire by the end of 2025, AI alone will not be enough to save the city’s office market, according to a new report from Savills and CompStak. Many commercial agents have pointed to growth in AI as a sign of hope as office vacancies reached new highs last year, hitting 32.2 million square feet. But 2024 and 2025 will be a peak time for lease…
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SF’s Housing Bond Marches Toward Victory in Early Returns – The Real Deal
An affordable housing bond measure appears headed toward victory in San Francisco, which in early returns Wednesday was leading with 67.7 percent of the vote. Measure A, which would inject $300 million into subsidized housing, leads a smidgen beyond its required two-thirds majority to pass, the San Francisco Chronicle reported. The bond comes four years after San Francisco voters approved a $600 million housing bond, the largest in city history. Measure A stems from a deal between Mayor London Breed and the Board of Supervisors last summer that would cut…
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Ikea San Francisco: Furniture company bets on return-to-office – The San Francisco Standard
It’s a counterintuitive bet by one of the few private entities investing heavily in a beleaguered downtown market. Ikea, which has largely bucked the broader decline in big-box retailers, is focused on diversifying past its core business of suburban furniture warehouses. Enter San Francisco: In 2020, a subsidiary of Ingka purchased the vacant 6×6 shopping center at 945 Market St., intending to transform each floor into its own unique destination. Hej!, on the fifth floor of the building, spans 46,000 square feet and can accommodate up to 500 people. During…
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Real Estate: John M. Lee – Richmond Review/Sunset Beacon – Richmond Review/Sunset Beacon
Spring Market is Upon Us 2024 is here, and like any other year, people are preparing for the big push in the spring real estate market. However, unlike every year, there is uncertainty and anxiety in the air. Last year was a time for reflection and adjusting to the new reality. Mortgage interest rates at 7% felt so high compared to 3% just a couple of years ago. Prices were declining and the market was at the slowest level we have seen for at least the last 25 years. Buyers…
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How to Fix San Francisco’s Housing Market – Foundation for Economic Education
Want to live in San Francisco? No problem, that’ll be $3,000 (a month)–but only if you act fast. Over the course of 2013 and 2014, the cost of housing in San Francisco increased 47% and continues to increase. Longtime residents find themselves priced out of town, the most vulnerable of whom end up as far away as Stockton. Some blame techie transplants. After all, every new arrival drives up the rent that much more. And many tech workers command wages that are well above the non-tech average. But labeling the…
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