In the first two months of 2024, federal housing officials reported that San Francisco had permitted less than 10 housing units, a claim disputed by city officials. Meanwhile, the San Francisco office market has seen a significant decline in transactions and value over the past three years, with 2021 recording 160 transactions totaling $9.4 billion at $500 per square foot, 2022 seeing 98 transactions totaling $4.6 billion at $420 per square foot, and 2023 marking only 38 transactions totaling $1.25 billion at $318 per square foot. Despite this downturn, recent reports suggest the office market might be showing signs of recovery. Additionally, Fortress has invested $1.5 billion in office loans, targeting downtown San Francisco properties, indicating a potential shift in investor confidence.
After a recent price cut, this condo in downtown San Francisco is now for sale at $899k It sold for $950k in 2012 https://t.co/EnlBPIqymX
Fortress has reportedly snapped up $1.5 billion of office loans. Now it's using the strategy to move in on a downtown San Francisco property. https://t.co/pVIZdm54Zd
That’s like a 1,500 sq ft 2bd 2ba ranch in SF https://t.co/jLJVth9Az5
Bay Area office market flounders with empty space but demand jumps https://t.co/wUzPt12mM2
SF office market shows first signs of turning the corner https://t.co/iLlnztYOmv
In a nut shell home prices vary in the Bay Area drastically due to commute times to the high paying jobs. Of course there are other factors as well but this is a big one! Take a look at these 3 examples, all are 3 beds/ 2 baths and roughly same size/ updates. Sunnyvale: 2.6M… https://t.co/ZE3WEdsHFy
No one wants San Francisco office space. It’s not surprising, but here’s a look at the numbers: 2021: 160 transactions totaling $9.4 billion at an average of $500/sqft 2022: 98 transactions totaling $4.6 billion at an average of $420/sqft 2023: 38 transactions totaling $1.25…
No one wants San Francisco office space. It’s not surprising, but he’s a look at the numbers: 2021: 160 transactions totaling $9.4 billion at an average of $500/sqft 2022: 98 transactions totaling $4.6 billion at an average of $420/sqft 2023: 38 transactions totaling $1.25…
San Francisco office transaction stats: 2021: 160 transactions totaling $9.4 billion at $500/sqft 2022: 98 transactions totaling $4.6 billion at $420/sqft 2023: 38 transactions totaling $1.25 billion at $318/sqft
Who’s counting? Federal housing officials say San Francisco has permitted less than 10 units in the first two months of 2024. But city officials say that doesn't tell the whole story. https://t.co/cuaxMd27O1