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The Metropolitan's north tower at 333 First: four closings this year at $1,242 a foot, matching 2022 and 3 percent under its 2017 high
Every 2026 closing in the 20-story north tower of The Metropolitan at First and Folsom, against the record since 2004
Four closings at 333 First Street through October 15, against three in the 2025 window; $5.0 million of volume against $3.3 million. Median sale $1,190,000; median $1,242 a square foot, up from $1,200 and the same figure the tower recorded in 2022; the 2017 high was $1,285. #2004, a three-bedroom, closed at $1,848,000. #901, bought in November 2020 for $1,200,000, resold for $1,190,000.
The north tower of The Metropolitan is the steadier half of the complex. Four condominiums closed at 333 First Street between January 1 and October 15, 2026, against three in the same window of 2025; $5,040,500 of volume against $3,277,500. The median sale is $1,190,000 and the median price per square foot is $1,242, against $1,200 last year; it is the same figure the tower recorded in 2022, and 3 percent under its high of $1,285 in 2017. The 27-story south tower at 355 First has its own report.
The high sale is #2004, a 1,300-square-foot three-bedroom at $1,848,000 on September 3 after 42 days, which is $1,422 a foot. The two two-bedrooms went at a median of $1,190,000 and $1,242; the one one-bedroom, #1105, is the low at $812,500 for 709 square feet, after 49 days. The median listed sale took 42 days to contract, and one of three went inside two weeks.
One paired resale is on record: #901, bought in November 2020 for $1,200,000 and sold on March 2 for $1,190,000, down 0.8 percent in five years. The tower's busiest year was 2021, with 20 closings at $1,269 a foot; since then it has run three to six sales a year. Three transfers under $300,000 are left out of every median; the complex has 41 below-market-rate units among its 342 (Heller Manus).
Crescent Heights built the two towers with HKS and Heller Manus on a three-story podium over four levels of parking, with an indoor pool, spa and theater; the last beam went up in January 2004, and it was the first large development on Rincon Hill after the 1989 earthquake, priced then from about $400,000 to $1 million (Crescent Heights; Bay Crossings).
2026 so far, against the same window in 2025
Closings at 333 1st 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 | 3 | 4 |
| Dollar volume | $3,277,500 | $5,040,500 |
| Median sale price | $1,180,000 | $1,190,000 |
| Median $/sq ft | $1,200 | $1,242 |
| Median days on market | 26 | 42 |
| Under 15 days (of MLS sales) | 0 of 2 | 1 of 3 |
Year by year
Every recorded closing at 333 1st St since April 2004, 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 |
|---|---|---|---|---|---|
| 2016 | 8 | $880,000 | $1,234 | — | $1,853,000 |
| 2017 | 5 | $740,000 | $1,285 | — | $1,299,000 |
| 2018 | 2 | $804,000 | $1,314 | — | $959,000 |
| 2019 | 3 | $910,000 | $1,235 | — | $1,265,000 |
| 2020 | 1 | $1,200,000 | — | 40 | $1,200,000 |
| 2021 | 20 | $1,008,500 | $1,269 | 36 | $1,300,000 |
| 2022 | 5 | $655,000 | $1,242 | 40 | $1,310,000 |
| 2023 | 3 | $1,080,000 | $1,127 | 32 | $1,100,000 |
| 2024 | 6 | $748,000 | $1,050 | 71 | $775,000 |
| 2025 | 3 | $1,180,000 | $1,200 | 26 | $1,180,000 |
| 2026 | 4 | $1,190,000 | $1,242 | 42 | $1,848,000 |
The building's highest median price per square foot in any year with five or more closings was $1,285 in 2017 (5 closings). 2026 year to date stands at $1,242.
By bedroom count, 2025 against 2026
| Beds | 2025 closings | 2025 median | 2025 $/sq ft | 2026 closings | 2026 median | 2026 $/sq ft |
|---|---|---|---|---|---|---|
| 1 bed | 0 | — | — | 1 | $812,500 | $1,146 |
| 2 bed | 3 | $1,180,000 | $1,200 | 2 | $1,190,000 | $1,242 |
| 3 bed | 0 | — | — | 1 | $1,848,000 | $1,422 |
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.
| Unit | Bd | Sq ft | Sold | $/sq ft | Days | Closed |
|---|---|---|---|---|---|---|
| 333 1st Street #2004 | 3 | 1,300 | $1,848,000 | $1,422 | 42 | Sep 03 |
| 333 1st St #N901 | 2 | 958 | $1,190,000 | $1,242 | — | Feb 26 |
| 333 1st Street, #901 | 2 | — | $1,190,000 | — | 8 | Mar 02 |
| 333 1st Street, #1105 | 1 | 709 | $812,500 | $1,146 | 49 | Jan 07 |
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 |
|---|---|---|---|---|---|
| 333 1st Street, #901 | Nov 2020 | $1,200,000 | Mar 2026 | $1,190,000 | -0.8% |
0 of these resold above the prior price, 1 below.
First and Folsom, Rincon Hill
Directly across Folsom is The Avery at 488 Folsom, the 618-foot OMA tower Related finished in 2019; diagonally across is 500 Folsom, 42 stories of rentals; one block south at Harrison is One Rincon Hill (Wikipedia; SOM; SF YIMBY). Two blocks east on Folsom, Transbay Block 2 is going up: Mercy Housing's 17-story, 184-unit family tower at 200 Folsom reached 14 floors by May 2025, beside a nine-story, 151-unit senior building by Chinatown CDC (SF YIMBY). A 72-story residential tower at 524-530 Howard was approved in October 2024 (SF YIMBY).
Two blocks north on First Street, all four Foundry Square buildings at First and Howard are leased to Anthropic: 500 Howard, its 230,000-square-foot headquarters; 505 Howard; 400 Howard, about 100,000 square feet; and 405 Howard, 70,000 square feet, the last two closed in April 2026 (SF Standard; Bisnow; Traded). The 12 Folsom-Pacific bus runs along Folsom past the door to the Embarcadero station (SFMTA).
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.hellermanus.com/the-metropolitan
- https://www.crescentheights.com/portfolio/metropolitan
- https://www.baycrossings.com/?p=9310
- https://en.wikipedia.org/wiki/The_Avery
- https://www.som.com/projects/500-folsom-street/
- https://sfyimby.com/2021/11/number-9-one-rincon-hill-at-425-1st-street-soma-san-francisco.html
- https://sfyimby.com/neighborhoods/east-cut
- https://sfstandard.com/2025/09/23/anthropic-san-francisco-office-lease/
- https://www.bisnow.com/news/san-francisco/office/anthropic-cements-240k-sf-lease-howard-street-133989
- https://traded.co/deals/california/office/lease/405-howard-street/
- https://www.sfmta.com/projects/12-folsompacific-rincon-hill-extension
- 333 1st St · South Beach
- One Rincon Hill · 425 1st St · South Beach
- The Avery · 488 Folsom St · South Beach
- The Metropolitan · 355 1st 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.