Updated Nov 6, 2026
SOLDOffice
Ian Jacobs Acquires Office Property At 111 Ellis Street San Francisco For $7.8M
111 Ellis Street
$7,800,000
$364/SF
Building Size
21,412 SF
Asset Type
Office
Closing
Aug 1, 2025
About this deal
AI
The property asset involved in the transaction is an office space located at 111 Ellis Street, San Francisco, with a sale price of $7,800,000. The square footage of the asset is 21,412, resulting in a price per square foot of $364.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $7,800,000
- Address: 111 Ellis Street
- Market: San Francisco
- Square Footage: 21,412
- Price per Square Foot: $364
- Buyer: Ian Jacobs
Ian Jacobs, who is acquiring the property, is the heir to the Reichmann real estate dynasty. This acquisition marks his second purchase in the Union Square neighborhood and is part of a broader strategy known as “Project Uris,” which aims to capitalize on downtown properties during the current market downturn.
On the Map
$7,800,000
$364/SF
Office
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Players
San Francisco Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.03%
Cash-on-Cash
-0.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93