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200 Townsend: three lofts closed this year at $906 a foot, with buyers from 2014, 2018 and 2023 landing at minus 2.1, minus 5.4 and plus 2.8 percent
Every 2026 closing at 200 Townsend, the 51-loft 2003 building by the Caltrain terminal, against the record since 2003
Three closings at 200 Townsend Street through October 15, against one in the 2025 window; $2.6 million of volume. All three were one-bedroom lofts. Median sale $790,000; median $906 a square foot, against $792 last year and 7 percent under the building's 2021 high of $971. Every closing has a prior sale on record: #13 bought in 2014, #28 in 2018 and #6 in 2023, all within 6 percent of the earlier price.
200 Townsend's three sales this year are a twelve-year flat line. Three lofts closed between January 1 and October 15, 2026, against one in the same window of 2025; $2,617,000 of volume against $695,000. All three have a prior sale on record, and all three landed within 6 percent of it. #13, 734 square feet, was bought in March 2014 for $679,000 and sold on October 9 for $665,000, down 2.1 percent, after 13 days. #28, 840 square feet, was bought in February 2018 for $835,000 and sold on July 21 for $790,000, down 5.4 percent, after 137 days. #6, a 1,321-square-foot corner live-work loft with 16-foot windows, was bought in April 2023 for $1,130,000 and sold on September 5 for $1,162,000, up 2.8 percent, after 89 days.
The median sale is $790,000 and the median price per square foot is $906, against $792 for last year's one sale and 7 percent under the building's high of $971 in 2021, its busiest year with eight closings. The median listed sale took 89 days to contract, and one of three went inside two weeks.
The building is a four-story loft block from 2003 with 51 units, 734 to 1,606 square feet, a roof deck and assigned underground parking; dues on #6 run $1,063 a month (RubyHome; MLSListings).
2026 so far, against the same window in 2025
Closings at 200 Townsend 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.
| Measure | 2025 (same window) | 2026 year to date |
|---|---|---|
| Closings | 1 | 3 |
| Dollar volume | $695,000 | $2,617,000 |
| Median sale price | $695,000 | $790,000 |
| Median $/sq ft | $792 | $906 |
| Median days on market | 69 | 89 |
| Under 15 days (of MLS sales) | 0 of 1 | 1 of 3 |
Year by year
Every recorded closing at 200 Townsend St since October 2003, by calendar year. 2026 runs through October 15, 2026. Days on market is available for MLS-listed sales from 2020 onward.
| Year | Closings | Median price | Median $/sq ft | Median days | High sale |
|---|---|---|---|---|---|
| 2017 | 1 | $1,110,000 | $904 | — | $1,110,000 |
| 2018 | 2 | $870,000 | $1,050 | — | $905,000 |
| 2019 | 4 | $1,015,000 | $1,093 | — | $1,099,000 |
| 2020 | 1 | $1,100,000 | $1,182 | 7 | $1,100,000 |
| 2021 | 8 | $861,250 | $971 | 23 | $1,280,000 |
| 2022 | 3 | $858,000 | $957 | 44 | $930,000 |
| 2023 | 1 | $1,130,000 | $855 | 44 | $1,130,000 |
| 2024 | 1 | $815,000 | $834 | 57 | $815,000 |
| 2025 | 1 | $695,000 | $792 | 69 | $695,000 |
| 2026 | 3 | $790,000 | $906 | 89 | $1,162,000 |
The building's highest median price per square foot in any year with five or more closings was $971 in 2021 (8 closings). 2026 year to date stands at $906.
By bedroom count, 2025 against 2026
| Beds | 2025 closings | 2025 median | 2025 $/sq ft | 2026 closings | 2026 median | 2026 $/sq ft |
|---|---|---|---|---|---|---|
| 1 bed | 1 | $695,000 | $792 | 3 | $790,000 | $906 |
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.
| Unit | Bd | Sq ft | Sold | $/sq ft | Days | Closed |
|---|---|---|---|---|---|---|
| 200 Townsend Street #6 | 1 | 1,321 | $1,162,000 | $880 | 89 | Sep 05 |
| 200 Townsend Street, #28 | 1 | 840 | $790,000 | $940 | 137 | Jul 21 |
| 200 Townsend Street, #13 | 1 | 734 | $665,000 | $906 | 13 | Oct 09 |
Paired resales
Units that closed in 2026 and had a prior recorded sale in the same building. The change is gross, before any improvements, fees or carrying costs.
| Unit | Prior sale | Prior price | 2026 sale | 2026 price | Change |
|---|---|---|---|---|---|
| 200 Townsend Street, #28 | Feb 2018 | $835,000 | Jul 2026 | $790,000 | -5.4% |
| 200 Townsend Street, #13 | Mar 2014 | $679,000 | Oct 2026 | $665,000 | -2.1% |
| 200 Townsend Street #6 | Apr 2023 | $1,130,000 | Sep 2026 | $1,162,000 | +2.8% |
1 of these resold above the prior price, 2 below.
Townsend Street, by the Caltrain terminal
The building sits on Townsend two blocks from the 80 and 280 ramps, with the Caltrain terminal at Fourth and King, electrified since September 2024, a short walk west and Oracle Park a few blocks east (MLSListings; Wikipedia). Along the street, 260 Townsend is a seven-story office building leased to Battery Ventures and Swinerton, and 178 Townsend was redeveloped as rental lofts in 2012 (Connect CRE; SocketSite). At Fourth and Townsend, Tishman Speyer's 655 Fourth proposal is two towers of 38 and 40 floors with more than 1,100 homes (CoStar).
The AI leases are at both ends of Townsend. West, at 650 Townsend, Scale AI subleased about 180,000 square feet in May 2024 and Amazon Robotics was reported on June 30, 2026 to be in final talks for about 250,000 more, in a Design District that has also signed Together AI, Physical Intelligence, Abridge and Tools for Humanity (Bisnow; SFist). Across King at 185 Berry, Sierra signed 258,000 square feet in November 2025, and at Mission Rock across the channel Coinbase took 150,000 and Nvidia 45,000 in 2025 (McCarthy Cook; SF Chronicle).
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
- https://therealdeal.com/san-francisco/2026/04/07/anthropic-signs-another-san-francisco-office-lease/
- https://therealdeal.com/san-francisco/2026/03/16/openai-inks-another-mission-bay-lease/
- https://sfstandard.com/2026/04/07/i-leaderboard-san-francisco-office/
- https://www.sfexaminer.com/news/the-city/sfs-high-office-vacancy-rate-drops-again-as-ai-fueled-recovery-shows-legs/article_14d60cc1-a6dc-4228-9a44-b5b8c4d36b8c.html
- https://techcrunch.com/2026/06/01/anthropic-files-to-go-public/
- https://sfstandard.com/pacific-standard-time/2026/10/14/pst-anthropic-openai-ipos-sf-wealth/
- https://www.bisnow.com/news/san-francisco/office/ai-surge-driving-sf-office-market-leasing-to-strong-totals-in-decades
- https://finance.yahoo.com/markets/stocks/articles/bay-area-condo-values-still-120000717.html
- https://www.rubyhome.com/san-francisco-ca/200-townsend-lofts/
- https://www.mlslistings.com/property/SF426132770
- https://en.wikipedia.org/wiki/Salesforce_Transit_Center
- https://www.connectcre.com/stories/bridgeton-and-stars-rei-plan-to-reimagine-260-townsend/
- https://socketsite.com/archives/tag/178-townsend
- https://costar.com/article/1788631392/tishman-speyer-plans-more-than-1000-multifamily-units-near-san-francisco-transit-station
- https://www.bisnow.com/news/san-francisco/office/ai-startup-sierra-doubles-space-in-soma-128112
- https://sfist.com/2026/06/30/amazon-robotics-expected-to-join-growing-tech-and-ai-hub-in-sfs-design-district/
- https://www.mccarthycook.com/?p=5544
- https://preview-prod.w.sfchronicle.com/sf/article/office-leases-tech-21252644.php
- 200 Townsend St · South Beach
Tim McMullen, CA DRE #02016832. Real estate services provided by Tim McMullen, Broker, CA DRE #02016832. Figures are from recorded sales; nothing here is an opinion of the value of any home.