Austin KlarVanguard Properties · Lawyer Turned Real Estate Agent

Luxury Office Resorts Coming to San Francisco

Name: Luxury Office Resorts Coming to San Francisco
Uploaded: 2024-06-02T01:00:24+00:00
Duration: 33 s
Channel: Austin Klar
Description: Austin Klar reports that San Francisco developer Presidio Bay Ventures bought the 57‑year‑old office building at 60 Spear Street for $260 per square…

2 Jun 2024 · 1 min

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Austin Klar reports that San Francisco developer Presidio Bay Ventures bought the 57‑year‑old office building at 60 Spear Street for $260 per square foot, a steep discount from its $680 per square foot price a decade earlier. The firm intends to convert the structure into what they call the nation’s first "office resort," featuring 16‑foot ceilings, a rooftop bar and restaurant, sauna rooms, cold and warm plunge pools, coworking spaces, and a basement spa and fitness center. The redesign is being led by DC‑based OTJ Architects and will require a multi‑million‑dollar investment. Klar expresses excitement about the project and invites viewers to follow him for more Bay Area real estate updates.

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A San Francisco developer has plans to bring what they're calling the first office resort in the country to the city of San Francisco. Presidio Bay Ventures purchased a 57-year-old San Francisco office building at 60 Spear Street last year for $260 a foot, a steal considering it last traded nearly a decade ago for $680 a foot. And plans are in the works to turn the office into a luxury destination with 16-foot ceilings, rooftop bar and restaurant, sauna rooms, cold and warm plunges, coworking spaces, and a spa and fitness center in the basement. DC-based OTJ Architects is helming the design and it's definitely going to cost many millions of dollars. I'm really excited to see what they do with the space. Follow me for more Bay Area real estate. Bye.