18 Lansing: three closings this year at $767 a foot in the eight-unit 1928 Sorg Building, the cheapest per foot on Rincon Hill

18 Lansing is the smallest building on Rincon Hill with a report, and three sales is nearly half of its record. Three condominiums closed between January 1 and October 15, 2026, on $2,805,000 of volume; the record on this site holds seven sales in total, beginning in March 2022, so every comparison is between one, two and three sales. The median sale is $765,000 and the median price per square foot is $767, against $597 across the two 2025 sales and $1,010 for the one sale of 2022.

The high sale is #403, a 1,688-square-foot two-bedroom at $1,295,000 on March 24 after 21 days. #302, 961 square feet, closed at $765,000 on May 8 after 22 days; it had been marketed at $850,000 in April 2025 as a one-bedroom with a den (listing flyer). The low is #203, 982 square feet at $745,000 on March 25. The median listed sale took 22 days to contract, and none of the three went inside two weeks. No unit that closed in 2026 has a prior recorded sale, so there is no paired-resale table.

The building dates from 1928 and is marketed as the Sorg Building, a loft-style building of eight units; its developer and architect are not recorded in any source found for this report (listing flyer).

2026 so far, against the same window in 2025

Closings at 18 Lansing 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 18 Lansing since March 2022, by calendar year. 2026 runs through October 15, 2026. Days on market is available for MLS-listed sales from 2020 onward.

No year in the building's record holds five or more closings. 2026 year to date stands at $767 a square foot.

By bedroom count, 2025 against 2026

Every closing in 2026

All 3 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.

Lansing Street, Rincon Hill

Lansing is the short street off First between Harrison and the hill's towers: Jasper at 45 Lansing, 39 stories and 320 apartments from 2016, and The Lansing at 50, 82 units from 2006 (SF YIMBY; SocketSite). The Union 76 station at First and Harrison was slated in 2016 for a 180-unit Mill Creek building (SocketSite), and the Guy Place mini-park opened on the hill in July 2020 (The East Cut).

Two blocks north on First, all four Foundry Square buildings at First and Howard are leased to Anthropic, which also took the whole of 300 Howard at Beale in February 2026; Perplexity's sublease at 181 Fremont closed in March (Bisnow; Business Wire; Traded).

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