A Nob Hill Landmark Hits the Market
- Jul 30, 2015
An historic apartment building in San Francisco’s Nob Hill neighborhood is up for grabs. Alain Pinel Realtors recently announced that the Steinhart Apartments at 952 Sutter St. is on the market with an asking price of $27 million. All but nine of the property’s 57 units will be vacant at closing, indicating that a new owner will be able to capitalize on the city’s robust rent growth.
Formerly operated as a hotel, the 115-year-old structure is listed on the National Register of Historic Places. Built by Ignatz Steinhart, a baker and entrepreneur who gave his name to the Steinhart Aquarium, the property is well preserved thanks to its past as a hospitality venue.
The building features a lobby, high ceilings and a mezzanine-level library. Units at the Steinhart building were designed by William Scofield, whose credits include the Ralph Lauren and Gucci boutiques. Jonathan Rachman, a local designer, renovated 15 of the units.
APR Investment Group Managing Director Mark Bonn and Senior Sales Associate Mirella Webb are leading the marketing effort. Webb noted in a statement that the Steinhart building offers a combination of studios, one-, two-, and three-bedroom apartments, plus a single four-bedroom unit. Many units are large enough to accommodate additional bedrooms or to subdivide into multiple apartments, she added.