Updated Oct 19, 2026
City And County Of San Francisco Acquires Mixed-Use Building In San Francisco For $27M
1174-1178 Folsom Street & 663 Clementina Street
$27,000,000
Units
46
Asset Type
Mixed-use
Closing
Dec 8, 2023
About this deal
AI
The City and County of San Francisco has acquired a luxury mixed-use building located at 1174-1178 Folsom Street & 663 Clementina Street in San Francisco. The property, known as ŌME, was sold by Greenseed Folsom Land LLC for a total of $27 million. The sale was brokered by Payam Nejad of Colliers. The mixed-use building will be transformed into supportive housing for young individuals who are currently unhoused.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $27,000,000
- Market: San Francisco
- Address: 1174-1178 Folsom Street & 663 Clementina Street
- Buyer: The City and County of San Francisco
- Seller: Greenseed Folsom Land LLC
- Broker: Payam Nejad - Colliers
- Units: 46
- Price per Unit (PPU): $586,957
This transaction demonstrates Colliers' commitment to municipal sales and their dedication to maximizing property potential.
On the Map
$27,000,000
Mixed-use
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Players
San Francisco Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93