Category: San Francisco

San Francisco voters were deciding Tuesday on Proposition C, which allows for a one-time transfer tax exemption for property owners who convert office buildings to housing. The exemption would apply to the first sale of a property after its conversion. The transfer tax exemption would apply to property owners who get approval to convert commercial property to housing before 2030.… Read More

An ordinance passed to change the city’s codes to relax rules for conversion projects has had little impact thus far.  So what are other cities doing that San Francisco is not?  Washington, D.C., sits atop the rankings with 5,820 conversion units currently in the pipeline, compared with only 150 units across the entire San Francisco Bay Area, according to Yardi… Read More

Jensen Huang, the visionary behind Nvidia, commands a real estate empire that mirrors his monumental success in the tech industry. With a striking property portfolio that spans from the tech-savvy streets of San Francisco to the serene shores of Maui, Huang’s investments tell a story of calculated risk and opulent reward. This exploration delves into the intricacies of his holdings,… Read More

Gov. Gavin Newsom spent Monday morning in San Francisco talking with union workers and city leaders campaigning for Proposition 1. It’s an issue he says he’s worked on for five years, but one that’s been decades in the making. The governor joined other political heavyweights, including Mayor London Breed, to lobby voters on two of the city’s biggest issues —… Read More

The owner of two iconic San Francisco office properties is likely to give them up as major tenants pull out and the final due date for debt payments draws nearer, according to an earnings call with the New York real estate firm the Paramount Group. One of the properties is known as the Market Center, a 770,000-square-foot brutalist office complex… Read More

New York-based Paramount Group Inc. seems to be facing a real estate dilemma with its San Francisco properties. According to a ConnectCRE report, the company will likely surrender a pair of office towers it snapped up in 2019 for nearly $950 million at the top of the city’s pre-pandemic real estate boom. The decision to write down the investments for… Read More

A mall by any other name is still a mall. Trident Pacific Real Estate Group, the court-appointed receiver for the beleaguered San Francisco Centre mall at 865 Market Street, has decided to rename it the “Emporium Centre San Francisco,” the San Francisco Standard reported. The Newport Beach-based receiver will pull down the old signs and hoist new ones as part… Read More

New York-based office REIT Paramount Group Inc. appears poised to give up a pair of downtown San Francisco office properties it acquired in 2019 for a total of nearly $950 million, the San Francisco Business Times reported. This would position Paramount as the latest office landlord trying to unload buildings purchased at the height of the city’s pre-pandemic market. Paramount… Read More