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535 Pacific Avenue

535 Pacific LLC Acquires Historic Little Fox Theatre Building In San Francisco For $59.7M
SOLDOffice

535 Pacific LLC Acquires Historic Little Fox Theatre Building In San Francisco For $59.7M

535 Pacific Avenue

$59,700,000

$1,695/SF

Building Size

35,221 SF

Asset Type

Office

Closing

Feb 13, 2024

AI

The historic Little Fox Theatre building in Jackson Square was recently sold for nearly $60 million. The buyer, 535 Pacific LLC, acquired the property from Clint Reilly, who represents The Clint Reilly Organization. The sale price for the office asset was $59,700,000, with a total square footage of 35,221. This translates to a price per square foot (PPSF) of $1,695. The property is located at 535 Pacific Avenue in the San Francisco market.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $59,700,000
  • Square Footage: 35,221
  • Price per Square Foot: $1,695
  • Address: 535 Pacific Avenue
  • Market: San Francisco

Jony Ive, the former Apple designer, was linked to the entity that purchased the Little Fox Theatre building. This acquisition further expands Ive's presence in the Jackson Square Historic District, showcasing his influence in the area's early 20th-century buildings.

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

0.27%

Cash-on-Cash

-0.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93