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Patrick Hubbard & Robert Dumas Of Sansome Street Advisors Acquire 799 Market Street Office For $45M
SOLD
$45,000,000
California
See Similar DealsOffice145,400 SF
Sold 03/31/2025
SOLD
Patrick Hubbard & Robert Dumas Of Sansome Street Advisors Acquire 799 Market Street Office For $45M
799 Market Street
See Similar DealsOffice145,400 SF
Sold 03/31/2025
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$309
Total Square Footage:145,400 SF
Transaction Type:Sale
The property located at 799 Market Street in San Francisco is an office asset priced at $45,000,000. It encompasses 145,400 square feet, with a price per square foot of $309. The asset is currently under contract.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $45,000,000
- Buyer: Patrick Hubbard & Robert Dumas - Sansome Street Advisors
- Seller: Robert Bellinger - ASB Real Estate Investments
- Broker: Eastdil Secured
- Market: San Francisco
- Price per Square Foot: $309
- Square Footage: 145,400
Patrick Hubbard and Robert Dumas are representing Sansome Street Advisors in this transaction, while Robert Bellinger represents ASB Real Estate Investments. The deal comes amidst a challenging landscape for San Francisco's downtown office market, characterized by high vacancy rates and declining sales prices.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,400,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$159,875.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$213,322.96
Annual Debt Service$2,559,875.50
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