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SoMa Parking Lot For Sale, Likely to Become Housing or Offices

A parcel of land at 424 Brannan Street in SoMa that now houses a parking lot has just hit the market and has an expected sales price around $21 million. The 21,348 square-foot lot could hold up to 130 units of housing or a 128,000 square foot office building. Caltrain is only about two blocks, or a five minute walk, away. Its potential sale for reuse follows that of other pieces of land around the neighborhood such as the SoMa McDonalds and a group of warehouses and parking lots at 500 Townsend. There are no development permits yet for the site, which means that its path to becoming either housing or offices could be a long one. In the past, proposals have been submitted to turn the land into a research and development building and a mixed-use building, but both were withdrawn.
· Coveted SoMa parcel near CalTrain for sale [SF Business Times]
· SoMa for Sale [Curbed SF]