Newmark, as exclusive advisor to the Seller, is pleased to present the opportunity to acquire 601 Eddy Street (the "Site"), a 37,810 square-foot residential development site in the heart of San Francisco's Civic Center neighborhood. One of the largest sites left on the north side of San Francisco, the Site has an 80' height limit and can accommodate up to 377 units or up to 450 units with the State Density Bonus.
The Site is currently leased to the Phoenix Hotel, a 44-room hotel. The Phoenix Hotel is a cultural icon and has been a favorite of the rock and roll set for decades. In addition to the 44 hotel rooms, the Phoenix Hotel includes a legendary pool area and Chambers Eat + Drink. The lease with the hotel operator expires in September 2025, providing investors with an income stream during the entitlement process or the opportunity to take over the operation of the hotel at the conclusion of the lease.
Located at Eddy and Larkin Streets, the Site offers excellent transit connectivity and direct access to abundant retail, restaurants, and nightlife, as evidenced by the Site's Walk/Ride/ Bike scores of 100/99 and 94, respectively. Nearby amenities include the Civic Center BART station, MUNI lines adjacent to the Site, Civic Center Plaza, and the Bill Graham Civic Auditorium.
***Please visit the Site's website for more information: https://www.nmrk.com/properties/western-region-investment-sales ***