Purchased for $2.6 million in the fourth quarter of 2014 and subsequently remodeled and expanded, including the addition of a new roof deck, the former home to the first leather bar on Folsom Street, FeBe’s, which opened in 1966 and anchored the leather scene in San Francisco through the late 70s, turned Paradise Lounge in the late 80s and then Calle-11 is now on the market with a $5.995 price tag.
While “residential uses, large hotels, adult entertainment and heavy industrial uses are not [currently] permitted” on the 1501 Folsom Street site, most office, commercial and retail uses would be allowed. The corner parcel is technically zoned for development up to 55 feet in height. And it would appear as though Calle-11’s lease is set to expire in February of 2019.
And of course, plans for a big development across the street have been drawn. We’ll keep you posted and plugged-in.