Transactions - SEPTEMBER 26, 2016

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Spanish investor buys Union Square building in San Francisco

by Andrea Waitrovich

Greenstone Realty Advisors and 360 Post have sold San Francisco’s iconic Tiffany Building. Financial terms were not disclosed; however, the sales price is estimated to be between $135 million and $145 million. The Registry has identified Spain-based Ponte Gadea as the new owner.

The Tiffany Building is located directly on Union Square at 360 Post St., adjacent to Saks Fifth Avenue and Apple’s new flagship store. The 11-story building comprises 96,882 square feet of luxury high-street retail and office space.

For nearly 25 years this location has served as one of Tiffany & Co.’s most important global flagship stores. The Tiffany Building is also the U.S. headquarters for Cathay Pacific, one of Asia’s largest airline carriers. It is one of the tallest buildings on Union Square, and its prominent presence is heightened by its extremely valuable signage and prime retail frontage along the most visited area of San Francisco.

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