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1 Lombard Street

Updated May 4, 2026

Matthew Stevens Of Bay Club Cos. Acquires Mixed-use Property From Mark Gabbay For $65M
SOLDMixed-use

Matthew Stevens Of Bay Club Cos. Acquires Mixed-use Property From Mark Gabbay For $65M

1 Lombard Street

$65,000,000

$433/SF

Building Size

150,000 SF

Asset Type

Mixed-use

Closing

May 1, 2026

About this deal

AI

A mixed-use asset located at 1 Lombard Street, 150 Greenwich Street & 1444 Sansome Street in the San Francisco market was sold for $65,000,000. The property encompasses 150,000 square feet, resulting in a price per square foot of $433.

Summary of transaction details:

Bay Club acquired the entire San Francisco Northern Waterfront block from LaSalle Investment Management, solidifying its flagship campus across more than 150,000 square feet. This acquisition aligns with Bay Club's strategy to expand its member-based campus presence throughout California, with advisory support from CBRE.

On the Map

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$65,000,000

$433/SF

Mixed-use

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Players

Michael Taquino

CBRE

Broker

$557.3M

vol

11 deals

Broker
Matthew Stevens

Matthew Stevens

Bay Club Cos.

Buyer

$107M

vol

2 deals

Buyer

Mark Gabbay

LaSalle Investment Management

Seller

$778.2M

vol

20 deals

Seller
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San Francisco Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Deal FAQ

About $433 per square foot on a published $65M for 150,000 square feet (2026).

Visit Michael "Mike" Taquino to view all their deals.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.24%

Cash-on-Cash

-0.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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