SOLD
LNR Partners Acquires 995 Market Street At $6.56M In San Francisco Deal
995 Market Street
Office
90,500 SF
90,500 SF
Sold 13 days ago
Summary
Sale
CALIFORNIA
Office
90,500 sqft
The office building situated at 995 Market Street in San Francisco was sold for $6,560,000 on April 23, 2024. Spanning 90,500 square feet, the property was acquired by Job Warshaw of LNR Partners, LLC from the seller Atit Jariwala of Bridgeton Holdings at a price of approximately $72 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $6,560,000
- Address: 995 Market Street
- Market: San Francisco
- Buyer: Job Warshaw - LNR Partners, LLC
- Seller: Atit Jariwala - Bridgeton Holdings
- Square Footage: 90,500
The struggling Mid-Market office tower experienced a significant decline in value, selling for a fraction of its prepandemic worth. Bridgeton Holdings, the previous owner, ceased payments on a $45 million CMBS loan tied to the property eight months ago, contrasting sharply with the $62 million they paid for it back in 2016. The property was acquired by an affiliate of LNR Partners, LLC, highlighting the distress sale at a marked down price.
Details
SOLD
IMAGE: Job Warshaw & Atit Jariwala
DATE: 04/23/2024
ADDRESS: 995 Market Street
MARKET: San Francisco
ASSET TYPE: Office
BUYER: Job Warshaw - LNR Partners, LLC
SELLER: Atit Jariwala (@AtitJariwala) - Bridgeton Holdings (@BridgetonHospitality)
SALE PRICE: $6,560,000
SF: 90,500 ~ PPSF: $72
NOTE: The struggling Mid-Market office tower at 995 Market St. traded at a public auction for a fraction of its prepandemic value, with an affiliate of LNR Partners, LLC, acquiring the property on April 18 for approximately $6.56 million, valuing the building at roughly $72 per square foot. The seller, Bridgeton Holdings, ceased making payments on a $45 million CMBS loan tied to the 90,500-square-foot property eight months ago, marking a significant decline from the $62 million Bridgeton paid for the building in 2016.View on map
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Address995 Market Street
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