Starboard TCN Secures Buyer for Prime Bay Area Development Site

San Francisco real estate development opportunities are being snapped up left and right.

By Alex Girda, Associate Editor

Richard Gumbiner, Starboard TCN Broker Associate
Richard Gumbiner, Starboard TCN Broker Associate

San Francisco–The appeal of developing any kind of Bay Area real estate project seems to be long-lasting. Starboard TCN recently announced it has completed the sale of the asset located at 2525-2545 Van Ness St. in San Francisco. A Canadian investor is now in possession of the two-story commercial asset following a transaction worth $5.75 million.

The 11,000-square-foot building will make way for a new project, as the lot offers a 65-foot height limit, and is primed for new development. With great proximity to the Highway 101/Van Ness corridor, the asset’s location offers a bevy of development choices, although it has been reported that the new owner is currently looking at the site’s potential for a residential project.

According to Starboard TCN Broker Associate Richard Gumbiner, the company was able to “bring the buyer a rare opportunity to invest in a prime development site on the north side of the City, centrally located near Pacific Heights, Cow Hollow, the Marina, and Russian Hill.”

Image courtesy of San Francisco Mortgage Group