Exclusive: Two PacHeights Icons Hit The Market
Two Pacific Heights luxury apartment buildings that haven't been on the market in more than 50 years are being offered for sale either together or separately starting today, with Colliers International winning the bid to market the San Francisco properties, the brokerage firm announced.
The properties at 2201 Pacific Ave and 1755 Van Ness Ave (both above) were completed during the “inter-war period” between World War I and World War II. Both were built and occupied before completion of the Golden Gate Bridge in 1937, Colliers reports.
2201 Pacific Ave, built in 1930, was designed by San Francisco architect Edward E. Young. It has 38 units on seven floors. 1755 Van Ness Ave was built in 1928 and designed by Albert H. Larsen. The building has 50 units on seven residential floors and two ground-floor retail units of 2,500 SF and 3,250 SF.
Union Bank's Trust Department, which reps the buildings' ownership, the George H. Sandy Foundation, selected Colliers EVPs James Devincenti (left) and Brad Lagomarsino (right) to manage the sale of the properties. James says the foundation has owned the buildings for 56 years.
Of James and Brad, Colliers executive managing director Alan Collenette says “their combined knowledge and experience in marketing similar landmark buildings was instrumental in winning this prestigious assignment.”
Final offers are due by noon Sept. 30. Brad says he expects investor interest will be high for the landmark properties, which have been “superbly maintained, upgraded, renovated and seamlessly modernized.”