One Montgomery Street
Acquisition of an existing, architecturally significant building leased in its entirety to a major financial institution. Superb location in the heart of the San Francisco Financial District.
Due to the building's excellent location and its proximity to Union Square, the initial concept was to substantially convert the building to retail uses upon lease expiration. However, through extensive negotiations with the San Francisco Planning Department, Urban Realty was able to confirm the availability of additional development rights, allowing the potential development of a twenty-story luxury residential tower.
Urban Realty was in the process of securing entitlements when it received an attractive, unsolicited offer and sold the asset.