Updated Sep 23, 2026
Razmig Boladian Of Rubicon Point Partners Acquires 160-Unit Multifamily Property For $98.3M
1699 Market Street
$98,300,000
Units
160
Asset Type
MultiFamily
Closing
Sep 22, 2026
About this deal
AI
The multifamily asset involved in this transaction is the Ansel Apartments, located at 1699 Market Street in San Francisco, CA. The sale price for this property was $98.3 million, with a total of 160 units, resulting in a per unit price of $614,375.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $98,300,000
- Buyer: Razmig Boladian - Rubicon Point Partners
- Seller: Mike Freno - Barings
- Total Units: 160
- Price Per Unit: $614,375
Razmig Boladian represented Rubicon Point Partners in the acquisition. Mike Freno acted on behalf of Barings, an affiliate based in North Carolina that previously acquired the property for $18.5 million in 2025.
On the Map
$98,300,000
MultiFamily
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Players
San Francisco MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93