Recent property sales and appraisals for delinquent loans backing commercial property in San Francisco indicate that declining performance is having a major impact on commercial property values in the region.
Office Sales and Appraisals Show Plunging Values For San Francisco Commercial Real Estate
Distressed Properties See Values Fall by 50% or More
![The owners of<bsp-property-link href="https://gateway.costar.com/Gateway/Redir/RedirectToProduct.aspx?productId=1&redirUrl=redir%2FDefault.aspx%3FProductMode%3DProperty%26eid%3D320445" target="_blank" link-data="{"cms.site.owner":{"_ref":"00000164-904d-d794-ad6f-dcff6d680000","_type":"ae3387cc-b875-31b7-b82d-63fd8d758c20"},"cms.content.publishDate":1689868147185,"cms.content.publishUser":{"_ref":"00000183-37be-df7e-a5f7-77bf9f5a0000","_type":"6aa69ae1-35be-30dc-87e9-410da9e1cdcc"},"cms.content.updateDate":1689868147185,"cms.content.updateUser":{"_ref":"00000183-37be-df7e-a5f7-77bf9f5a0000","_type":"6aa69ae1-35be-30dc-87e9-410da9e1cdcc"},"link":{"attributes":[],"target":"NEW","url":"https://gateway.costar.com/Gateway/Redir/RedirectToProduct.aspx?productId=1&redirUrl=redir%2FDefault.aspx%3FProductMode%3DProperty%26eid%3D320445","_id":"00000189-73fd-dc14-a5ad-f7fd9d0b0000","_type":"ff658216-e70f-39d0-b660-bdfe57a5599a"},"linkText":" 600 California St","deepLinkId":"320445","disableRelation":false,"_id":"00000189-73fd-dc14-a5ad-f7fd5ab80000","_type":"a02711fd-84cb-3e05-af9a-9cc94da9728a"}" data-deep-link-type="property" data-deep-link-id="320445" data-disable-relation="false" data-match-data="{"CountryCode":"USA","MatchId":320445,"MatchType":1,"Location":{"Latitude":37.792923,"Longitude":-122.40479},"Display":"600 California St, San Francisco, CA 94108","Elements":{"MatchId":0,"MatchType":0,"Locality":"San Francisco","Subdivision":"CA","DisplayText2":"Office\t|\t359883.00 SF\t|\tBuilt in 1990","AddressID":"171491","PropertyTypeId":"5","PropertyType":"Office","ConstructionStatusId":"1","YearBuilt":"1990","imageUri":"https://ahprd1cdn.csgpimgs.com/i2/R5wTIHsN06PaWOENMPA35raC4-geTOardR-z36TTy2A/119/image.jpg","StreetNumber":"600","StreetName":"California","StreetType":"St","PostCode":"94108","StateCD":"CA","RBA":"359883","BuildingClass":"A"},"Radius":0}"> 600 California St</bsp-property-link>. defaulted on its $240 million mortgage in March 2023. An appraisal conducted by the special servicer in April valued the property at $183 million. (CoStar)<br>](https://costar.brightspotcdn.com/dims4/default/5af2b87/2147483647/strip/true/crop/2048x1364+0+0/resize/2048x1364!/quality/100/?url=http%3A%2F%2Fcostar-brightspot.s3.us-east-1.amazonaws.com%2F3a%2Fcf%2Fead0a7894eb18a25f61dba68fce9%2F600-cal.jpg)
By Nigel Hughes
CoStar Analytics
July 26, 2023 | 12:31 P.M.
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IN THIS ARTICLE
- Properties
- Presidio Bay
60 Spear St, San Francisco, CA
- California Tower
550 California St, San Francisco, CA
- Union Bank of California
350 California St, San Francisco, CA
- Borel Bldg II
180 Howard St, San Francisco, CA