In 1991, Holliday Development brought 88 live/work lofts in the converted Heublein Building (601 4th Street) to market. The conversion of the former wine distributorship marked San Francisco’s first commercial-turned-residential development (predating two other Holliday developments – The ClockTower Lofts and 355 Bryant).
According to Holliday, “[d]espite the pending recession…we took reservations on all 88 units in one day,” at an average price of $285,000 per loft and with an average size per loft of 1,360 square feet. Ah, the good old days.
“The success of 601 4th Street led to a dramatic transformation of the surrounding neighborhood from dingy industrial area to vibrant entrepreneurial district synonymous with the high-tech boom. Residents and businesses poured into the area; hip restaurants, clubs, and hotels cropped up next to traditional industrial businesses such as printing presses, furniture warehouses, and fabric wholesalers.”
If you’re interested, two loft condominiums in the Heublein Building have just hit the market (and we expect to see at least one more unit return relatively soon).
Unit #207 ($639,000 / 1,057 sqft) boasts many “new” features (but no pictures), pergo floors, electric baseboard heat, and one parking space; while unit #121 ($1,295,000 / 1,497 sqft), which failed to sell last year, offers a solid high-end renovation (“Gourmet kitchen w/Bulthaup cabinetry, SubZero, Miele dishwasher/oven, Gaggenau cooktop…Master Bath w/Waterworks limestone, Ann Sacks stones…”), 3-zone radiant heat, and two-car parking.