facebook


Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

California

/

Development Site

/

Sale

/

36 South 1st Street

Updated Aug 14, 2026

Matt Mahan Of The City Of San Jose Acquires Development Site From Erik Hayden For $3.6M
SOLDDevelopment Site

Matt Mahan Of The City Of San Jose Acquires Development Site From Erik Hayden For $3.6M

36 South 1st Street

$3,600,000

$321/SF

Building Size

11,200 SF

Asset Type

Development Site

Closing

Aug 13, 2026

About this deal

AI

The development site located at 26-36 South 1st Street in San Jose, CA sold for $3,600,000. The property spans 11,200 square feet, resulting in a price per square foot of $321. This site is associated with Urban Catalyst's planned 276-unit Gifford apartment project, which is anticipated to commence in 2027, subject to an appeal. The historical significance of the building dates back to 1889.

Summary of transation details:

  • Property Type: Development Site
  • Transaction Amount: $3,600,000
  • Address: 26-36 South 1st Street
  • Market: San Jose, CA
  • Square Footage: 11,200
  • Price per Square Foot: $321
  • Buyer: Matt Mahan - The City of San Jose
  • Seller: Erik Hayden - Urban Catalyst

Matt Mahan represents the City of San Jose in the acquisition of the property, while Erik Hayden represents Urban Catalyst as the seller. This transaction highlights the involvement of key individuals in the real estate development and municipal sectors.

On the Map

Open live map

$3,600,000

$321/SF

Development Site

View full map

Players

Erik Hayden

Broker

$167.4M

vol

4 deals

Broker

Matt Mahan

The City of San Jose

Buyer

$3.6M

vol

1 deal

Buyer

Erik Hayden

Urban Catalyst

Seller

$167.4M

vol

4 deals

Seller
Bilt advertisement

South Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

Loading comparables…

Deal FAQ

About $321 per square foot on a published $3.6M for 11,200 square feet (2026).

Visit Erik Hayden to view all their deals.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.41%

Cash-on-Cash

-1.26%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

More Deals

Nearby Markets