Colliers Handles $4.315 Million Sale of Union Square’s Smallest Building, New York Investor Pays Nearly $2,400 Per Square Foot

Colliers, San Francisco, JSRE Acquisitions, Union Square, Commercial Real Estate News, Bistro 69 Café

Colliers, San Francisco, JSRE Acquisitions, Union Square, Commercial Real Estate News, Bistro 69 CaféSAN FRANCISCO – August 27, 2014 – A New York-based investment firm has purchased 69 Maiden Lane, the smallest building in San Francisco’s fabled Union Square District, for $4.315 million, pushing the per-square-foot price in that tony neighborhood to within a whisker of a new record, Colliers International has reported.

JSRE Acquisitions paid the equivalent of $2,400 per square foot to acquire the 1920’s era building. It plans to aggressively market the property with its sights set on attracting a single luxury retail tenant, according to Colliers’ Executive Vice President Tim Maas, who represented the building’s private investor-owner in the transaction.

“This property represents a very rare re-positioning and value-add opportunity within the city’s internationally known Union Square District,” Maas said. “It sets another high bar in terms of price.”

While 69 Maiden Lane is Union Square’s smallest building with a site area of just 900 square feet and a total building area of 1,800 square feet, its location is a strong draw to top-end retailers seeking a showcase for their luxury products, Maas noted. Now occupied by Bistro 69 Café, the building will be vacated this fall.

Maas was joined on the Colliers sales team by Executive Vice Presidents Tony Crossley and Frank Wheeler, and Vice President Erik Hanson, all of the firm’s downtown San Francisco office.

About Colliers International
Colliers International is a global leader in commercial real estate services, with over 13,500 professionals operating out of more than 482 offices in 62 countries. A subsidiary of FirstService Corporation, Colliers International delivers a full range of services to real estate users, owners and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and insightful research. The latest annual survey by the Lipsey Company ranked Colliers International as the second-most recognized commercial real estate firm in the world. For the latest news from Colliers International, visit or follow us on Twitter: @ColliersIntl


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