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The Last Transbay Lot Sells for $160M

A super-tall tower with hotel rooms, housing, and offices planned

The rumors were true. The Transbay Joint Powers Authority has just announced that Parcel F at 546 Howard Street (the last remaining site for development in the neighborhood around the Transbay Center) has sold for a $160 million in cash deal with F4 Transbay Partners (a venture between Broad Street Principal Investments, Urban Pacific Development, and Hines Interests Limited Partnership).

Parcel F is not only the last lot that can connect to the Transbay Transit Center Rooftop Park via pedestrian sky bridge, it's the last site available for a super-tall building near downtown San Francisco. It's zoned for a building of 750 feet.

F4 Transbay Partners plans to build a tower with hotel rooms (200-300), private residences (200), and office space (between 250,000 and 425,000 square feet).

A $165 million deal with developer Crescent Heights collapsed in December over the requirement that 35 percent of the condos be affordable housing.

The current deal is expected to close this summer.