Overview
- Presidio Bay Ventures and Prado Group secured exclusive rights to acquire the downtown complex, with the purchase price undisclosed.
- Goldman Sachs and JPMorgan Chase took control through foreclosure on a loan exceeding $560 million and launched a rapid sale process.
- Price guidance was about $100 million, with expectations for winning bids to top $130 million, according to Chronicle reporting.
- No reuse plan has been announced, with zoning allowing potential towers and a San Francisco Unified School District land lease that could constrain options.
- The multi‑block property, known for its Beaux‑Arts glass dome, saw steep tenant losses after a 2023 default and was reported about 95% vacant by September 2025.