As we revealed as last year:
When Rowland Weinstein, owner of the Weinstein Gallery on Union Square, purchased the 13,500-square-foot building at 2548 Mission Street, which sits between the New Mission/Alamo Drafthouse Theater and Foreign Cinema, for $3.8 million amidst much fanfare in 2014, the seller had reportedly turned down an offer for $600,000 more, “preferring to have an art gallery on the block.”
At the time, it was reported that Weinstein was planning to use the Mission Street space for a gallery featuring local artists in conjunction with “a bar concept” which was to open by the end of 2014. But neither the gallery nor bar ever materialized.
And while not accompanied by any press releases this time around, Weinstein has quietly sold the building to an LLC for $4.9 million. And behind the LLC is entrepreneur turned real estate investor, Enrique Landa.
As we also noted at the time, despite its appearance, 2548 Mission Street is not a historic resource nor protected from being torn down and sits on a parcel which is zoned for development up to 65-feet in height.
And with no plans pending no permits secured, the property is now back on the market touting “rich expansion potential,” the aforementioned height limit, and having been priced at $5.5 million following the 16-month hold.
What’s going on with the hideous iron beast across the street from Alamo Drafthouse? Is anyone actually working on that site?
great question ! And the pit on the corner of 22nd isn’t doing the neighborhood any favors either.
It was going to become some kind of community art & event space, but I haven’t seen anything happening recently. It’s owned by Vera Cort, who doesn’t have the best track record in the neighborhood.
The last thing I read about it, Cort’s plan was to build it as a gym. There has even pretty steady work on it over the past year.
The facade, if repaired, would be something classic to have on that section of block. Would rather not see another generic condo building go up there personally.
In fact, something for the arts *would* be nice. I read in various other (sometimes bitter) posts on here that MEDA has had a lot of money “donated” to them by developers…
Hopefully the original owner created an arts easement so his wishes could be enforced.
That is not the case, no special restrictions or easements have been recorded for the property.
Note to self:
Wait for the market to correct. Buy well located SF property. Wait for bubble mania and cash out!