Colliers Wins Assignment to Makret Iconic San Francisco Buildings in Pacific Heights

Colliers, Pacific Heights, San Francisco, Bay Area

Colliers, Pacific Heights, San Francisco, Bay Area

Colliers Wins Assignment to Market Two Iconic San Francisco Apartment Buildings Separately or Together in Pacific Heights, Offers Due by Month’s End
Team of James Devincenti and Brad Lagomarsino Named Exclusive Agents

SAN FRANCISCO – September 12, 2016 – For the first time in over half a century, two of San Francisco’s most valuable and iconic luxury apartment buildings – both located in Pacific Heights, one of the City’s and nation’s most distinguished neighborhoods – will be offered for sale either together or separately beginning Monday, September 12, with final offers due at noon (PDT) on September 30, executives of Colliers International have reported.

Colliers International Executive Vice Presidents James Devincenti and Brad Lagomarsino were selected to manage the offering of the two trophy apartment buildings following an extensive and competitive review process by Union Bank’s Trust Department, which represents the buildings’ ownership entity.

“Their combined knowledge and experience in marketing similar landmark buildings was instrumental in winning this prestigious assignment,” said Colliers Executive Managing Director Alan Collenette, who oversees the brokerage firm’s operations in San Francisco, Marin and Sacramento. “As a team, Mr. Devincenti and Mr. Lagomarsino are on track to complete the sale of nearly half a billion dollars in multi-family assets this year alone in San Francisco. There is simply no competing team that can make such a claim.”

Located at 2201 Pacific Avenue and 1755 Van Ness Avenue, the two architecturally significant buildings evoke a colorful, earlier period in the City’s history. For perspective, the buildings were completed during what historians call “The Inter-War Period” following the end of WWI and the beginning of WWII, and were both built and occupied before the Golden Gate Bridge was completed in 1937.

“Impeccably maintained since they were first developed, the buildings are emblematic of the Pacific Heights neighborhood with their central locations, views of the bay and the City, and their placement amidst a peerless mix of upscale mansions, apartment buildings and condominiums,” said Devincenti. “This offering represents a once-in-a-generation opportunity to own property in one of the most historic, prestigious and valuable real estate markets in the world.”

“Both of the buildings are reminiscent of an earlier age – stepping into them gives one a sense of what it was like to live in what was then (and still is) considered a state-of-the-art luxury apartment building,” said Lagomarsino. “In fact, since the buildings have been so superbly maintained, upgraded, renovated and seamlessly modernized, it feels as if the buildings haven’t aged a day.”

Built in 1930, 2201 Pacific Avenue was designed by fabled San Francisco architect Edward E. Young, who also conceived such buildings as The Park Lane at 1100 Sacramento Street and 2790 Green Street, which is now the Russian Consulate.

The Pacific Avenue property is comprised of 38 units, most of which are grand by today’s standards, on seven floors. They include 12 two-bedroom, two-bath units with a total of five spacious rooms in each; 1 two-bedroom one-bath unit, which also has five rooms, 25 one-bedroom, one-bath apartments with four rooms each.

The building’s spacious Spanish Colonial-themed lobby, featuring a vaulted wood ceiling with gold and copper leaf design, is reached through an intricately detailed glass-and-steel front door. A winding stairway flanked by dark-stained wood railings, as well as one cable-driven elevator, provide access to the floors above.

The second structure, located at 1755 Van Ness Avenue and built in 1928, features steel-frame and brick-infill construction on a concrete foundation with seven residential floors, as well as, two ground-floor retail units. Its architect, Albert H. Larsen, is responsible for designing other notable San Francisco apartment buildings such as 1150 Union Street and The Hamilton at 631 O’Farrell Street. It has a total of 50 units, including 24 one-bedroom, one-bath units with four rooms each; and another 24 studio units with three rooms each. On Van Ness Avenue, there are two street-level retail units totaling 2,500 and 3,250 square feet, respectively.

“We expect the interest level from the investment community to be extremely high for these landmark properties,” added Lagomarsino. “We are already receiving many requests for investment packages and we are evaluating all of them in a very timely fashion.”

Investors seeking information about the properties may contact James Devincenti at 415-288-7848 or Brad Lagomarsino at 415-288-7847 or visit the properties’ websites at www.2201pacificavenue.com and www.1755vannessavenue.com or www.thedlteam.com

About Colliers International Group Inc.
Colliers International Group Inc. (NASDAQ: CIGI; TSX: CIG is an industry leading global real estate services company with more than 16,000 skilled professionals operating in 66 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.

Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that help clients accelerate their success. Colliers has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals’ Global Outsourcing for 11 consecutive years, more than any other real estate services firm.

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