By Kate Snyder
An historic office building in San Francisco traded hands recently for $38 million, or approximately $3,717 per square foot, according to an industry source with knowledge of the transaction. The buyer was an entity affiliated with 807 Montgomery Street LLC, which is believed to be linked to Jony Ive, according to industry sources. Ive is a British industrial and product designer who formerly served as Apple Inc.’s chief designer and owns multiple properties near the site involved in the recent acquisition.
The sellers are listed in public records as entities affiliated with JDS Montgomery LLC and DLS Montgomery LLC. The sale was recorded on Jan. 24.
Located at 807 Montgomery St. in San Francisco’s Jackson Square neighborhood, the two-story and 10,221 square foot building was constructed in 1909, according to public records, and is just blocks away from the San Francisco Bay. The Jackson Square Historic District is roughly bounded by Broadway, Sansome Street, Washington Street and Columbus Avenue. According to the National Park Service, the city’s earliest commercial buildings are represented in Jackson Square.
The property is surrounded by local businesses, parks, restaurants and city landmarks. The Transamerica Pyramid, the iconic skyscraper designed decades ago by futurist architect William Pereira, is located just blocks from the sale site. City Lights Booksellers & Publishers is also nearby, as well as Sydney G. Walton Square, Portsmith Square and the business center One Maritime Plaza.
Any usage plans for the property have not yet been made clear. In an article Ive wrote for the Financial Times last year, the designer said he had “dreams and plans for our buildings and our studio” located in Jackson Square but did not elaborate. Ive owns at least three other properties in the neighborhood at 809 and 831 Montgomery St. as well as 100 Columbus Ave., public records show.