288 Pacific, next to the Old Ship Saloon: four closings this year at $1,748 a foot, three of them inside two weeks, with the 2022 buyer of #3G up 20 percent and the 2023 buyer of #2A down 16

288 Pacific is a 33-unit building, so four closings is a busy year, and this one is its best per foot. Four condominiums closed between January 1 and October 15, 2026, against one in the same window of 2025 and four for all of last year; $9,486,688 of volume against $1,850,000. The median sale is $2,497,500 and the median price per square foot is $1,748, against $1,428 for all of 2025; the building has never had five closings in a year, and this is the highest annual figure in its record.

All four were two-bedrooms. The high sale is #4E, 1,336 square feet at $2,687,000 on April 1, which is $2,011 a foot and never listed. #4A, 1,522 square feet, closed at $2,600,000 on January 23 after 14 days. The low is #2A, 1,207 square feet at $1,804,688 on May 5. The median listed sale took 14 days to contract, and three of four went inside two weeks.

The two paired resales went opposite ways on a year's difference in purchase date. #3G, bought in October 2022 for $2,000,000, sold on April 16 for $2,395,000, up 19.8 percent. #2A, bought in March 2023 for $2,150,000, sold for $1,804,688, down 16.1 percent.

Grosvenor Americas built 288 Pacific with Handel Architects, seven stories and 33 units in an L around the Old Ship Saloon on the corner, on what had been two parking lots and The Globe restaurant; the remains of the ship Arkansas were unearthed during excavation in 2016, the building was 60 percent sold by June 2018 with one-bedrooms from $1.25 million and a penthouse at $3.75 million, and it took ENR California's best-project award in 2019 (Handel Architects; SF Chronicle; Hoodline). The record on this site begins with the 2018 closings.

2026 so far, against the same window in 2025

Closings at 288 Pacific 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 288 Pacific since May 2005, 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 — in ( closings). 2026 year to date stands at $1,748.

By bedroom count, 2025 against 2026

Every closing in 2026

All 4 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.

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.

1 of these resold above the prior price, 1 below.

Pacific and Battery, the edge of Jackson Square

The building wraps the Old Ship Saloon at 298 Pacific, a bar on the site since 1851 in the hull of the beached ship Arkansas, rebuilt in 1907 and owned by the Passetti family since 2017 (Wikipedia; SF Historic Preservation Commission). Across Battery is The Battery, the private club at 717 Battery with about 4,800 members, and the Jackson Square historic district begins one block west (SF Chronicle).

Jackson Square is the other AI address in the city. Jony Ive's LoveFrom has spent about $90 to $100 million on buildings here, including 535 Pacific, bought for about $60 million in February 2024, and OpenAI gained its own foothold when it absorbed Ive's io in July 2025; Anthropic's first office, 7,000 square feet in 2021, was in the district, and Bain Capital Ventures took the whole 1887 brick building at 450 Pacific in 2024 (The Real Deal; SF Examiner; Nob Hill Gazette). Colliers counted 22 new office leases, six new retailers and seven building sales in the district in 2024; Polo Ralph Lauren opened at 441 Jackson in March 2025, and Ripple holds all of 600 Battery two blocks south (SF Examiner; TMG Partners).

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