Updated Oct 9, 2025
Block Nine Owner LLC Acquires The Clancy Hotel In San Francisco From Richard Stockton For $115M
299 Second Street
$115,000,000
Building Size
—
Asset Type
Hotel
Closing
Oct 7, 2025
About this deal
AI
The Clancy is a 410-room hotel located at 299 Second Street in San Francisco, specifically in the SoMA district. It was sold for $115,000,000, translating to approximately $280,488 per room.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $115,000,000
- Buyer: Block Nine Owner LLC
- Seller: Richard Stockton - Braemar Hotels & Resorts
- Keys: 410
- PPK: $280,488
- Cap Rate: 4.96%
- NOI: $5.7 million
- Nonrefundable Deposit: $3.5 million
This transaction represents a strategic move by Braemar Hotels & Resorts to streamline its operations ahead of a potential sale. The deal, which is set to close next month, further highlights the growing interest in hotel properties within the San Francisco market.
On the Map
$115,000,000
Hotel
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San Francisco Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93