Millwheel South, 1280 Minnesota: two closings this year in five and six days at $1,202 a foot, the top of the record, across from the Minnesota Street Project galleries

Millwheel South's first sales in three years were its two fastest and its two dearest per foot. Two condominiums closed at 1280 Minnesota Street between January 1 and October 15, 2026, on $3,227,000 of volume; nothing closed in 2024 or 2025, and one unit closed in 2023 at $1,055,000. The median sale is $1,613,500 and the median price per square foot is $1,202, against $822 in 2023, $932 in 2022, $908 in 2015 and $609 across the six developer sales of 2012, the most in any year of the record.

#101, a 1,141-square-foot two-bedroom with two patios and two garage spaces, closed at $1,402,000 on February 26 after six days, $1,229 a foot; its dues run $631 a month (Redfin, #101). #105, a 1,554-square-foot three-bedroom, closed at $1,825,000 on April 23 after five days, $1,174 a foot. Both went inside two weeks. No unit that closed in 2026 has a prior recorded sale on this site, so there is no paired-resale table. Across Indiana at Millwheel North, 1260 Minnesota, the 39-unit 2014 sibling, #104 is listed at $1,325,000 with dues of $795 and #302 at $1,380,000 (RubyHome, Millwheel North; RubyHome, 1260 Minnesota #104).

1280 Minnesota is the Minnesota Street side of Millwheel South, 1301 Indiana, a five-story 2012 complex of 32 units; the building record on this site lists 15 at this address (RubyHome, Millwheel South; Redfin, #303).

2026 so far, against the same window in 2025

Closings at 1280 Minnesota St between January 1 and October 15, 2026, set against January 1 to October 15, 2025. Days on market is median days from listing to contract on MLS-listed sales; "under 15 days" counts how many of those went into contract inside two weeks.

Year by year

Every recorded closing at 1280 Minnesota St since June 2012, by calendar year. 2026 runs through October 15, 2026. Days on market is available for MLS-listed sales from 2020 onward.

The building's highest median price per square foot in any year with five or more closings was $609 in 2012 (6 closings). 2026 year to date stands at $1,202.

By bedroom count, 2025 against 2026

Every closing in 2026

All 2 closings through October 15, 2026, highest price first. Square footage and days on market are as recorded on the MLS; county-recorded transfers that never listed show no days.

Minnesota Street, Dogpatch

Across the street is the Minnesota Street Project at 1275 Minnesota, the 1937 warehouse Jensen Architects renovated in 2016 into 15 galleries around a 5,000-square-foot atrium, and beside it the Minnesota Grove, the 50-by-300-foot block of trees between 24th and 25th that Public Works rebuilt within its $2.3 million repaving of Minnesota from 23rd to 25th (World-Architects; SF Public Works; SF Chronicle). Esprit Park at 19th and Minnesota reopened on February 5, 2025 after a full renovation by Fletcher Studio, with an off-leash north meadow and a dog-free south meadow (SF Rec and Park).

No AI office sits in Dogpatch; OpenAI's Mission Bay buildings, 550 Terry Francois and 1800 Owens, are a mile north up Third (Bisnow; CompStak).

The timetable that every South of Market building now sits inside is the public-offering calendar. Anthropic filed a confidential draft registration with the SEC on June 1, 2026, a week after a funding round that set its valuation at $965 billion (TechCrunch). As of this week the Standard reports the Anthropic listing has been pushed to November, after the midterms, that OpenAI's has moved to 2027, and that Anthropic is weighing a lockup longer than the usual six months (SF Standard). The same piece carries a Redfin estimate that current and former OpenAI and Anthropic employees could in theory buy close to a third of the metro area's homes with their proceeds, and the counter-argument from UC Berkeley's Enrico Moretti and the Bay Area Council's Jeff Bellisario that the money is concentrated in fewer hands than past booms and that these firms create fewer jobs per dollar because so much goes to data centers rather than headcount. The record in this report ends on October 15. None of it reflects a single share that has been sold.

Two citywide facts frame every building figure here. First, the office recovery is lopsided: CBRE put Q3 2026 vacancy at 27.7 percent citywide, down 6.6 points in a year, but Avison Young splits that into roughly 12 percent for Class A and north of 31 percent for Class B, and a Presidio Bay executive told Bisnow the headline number is misleading for that reason (Bisnow). Second, the condo market is still digging out: the Chronicle's May analysis found that only eight Bay Area ZIP codes showed inflation-adjusted condo gains over the year, all of them in San Francisco, and that Noe Valley's typical condo remained close to $400,000 below its 2019 level in real terms (SF Chronicle).

How this was counted

Two records feed this review. The MLS layer is one row per listing and carries days on market and square footage. The county layer reaches back further and catches transfers that never listed, but records the same closing once per data source, so the two were merged on unit, date and price and each closing kept once. Below-market-rate units and transfers under $300,000 are listed but excluded from every median. "Same window" means January 1 to October 15 of each year. Nothing here is a valuation of any unit, and nothing here is advice.

Tim McMullen · CA DRE #02016832
[email protected] · (415) 691-9272