Historic ‘Steinhart Hotel’ Hits The Market Seeking $27M
June 30, 2015
Looking to start a tech commune in San Francisco? Well, the 57-unit ‘Steinhart Hotel‘ at 952 Sutter Street has just hit the market for $27 million.
And according to the listing, 48 of the units could be delivered vacant at the close of escrow.
While touting an opportunity to operate the property as “either traditional, high-end apartments or furnished rentals,” keep in mind the building is not permitted for short-term rentals or tourist use, at least not legally.
The six-story residential hotel was built for Ignatz Steinhart in 1910. Ignatz funded the Steinhart Aquarium with a $250,000 donation in 1916 and lived at the hotel until his passing the following year.
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The Academy of Art hasn’t snapped this up?
I have stayed there many times over the years. Wonderful service and a sense of old San Francisco you just can’t find at a chain establishment. It was like have a second home in your beautiful city. I will be curious as to what the new owners do.
When you can buy a place with seismic bracing over the windows, you HAVE to buy it.
UPDATE: Historic Steinhart Hotel Sells For $31 Million