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Iconic SF Building for Sale, Record-Breaking Price Predicted

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The grand Art Deco high-rise at 140 New Montgomery is on the market, and there's speculation that it could sell for a record-breaking price per square foot. A report in The Registry says that the building could sell for $1,000 per square foot, which would bring the price to $295 million. Currently, the SoMa building is home to companies such as Yelp and Lumosity. It underwent a dramatic remodel in 2014.

We last wrote about the building after the owners (Wilson Meany and Stockbridge Capital Group) spent $60 million to renovate the building—a project that included 1,300 new windows, a seismic retrofit, the creation of a sculpture garden and outdoor restaurant space, and the installation of new green technology to reduce energy usage. The original plan was to turn the building into condos, but the plan was scrapped when the economy tanked in 2008.

The Timothy Pflueger-designed building has been an San Francisco landmark since it was built as the Pacific Telephone & Telegraph Building in 1925.

· 140 New Montgomery in San Francisco Up for Sale, Could Fetch $1,000/SF Price [The Registry]

· $60M Conversion of Art Deco Gem 140 New Montgomery [Curbed SF]