650 Second Street, the 1923 tire warehouse turned lofts a block from the ballpark: two 1,790-square-foot lofts closed this year at $956 a foot, one of them a 2001 buyer selling at 110 percent over

650 Second Street sold two lofts of the same size this year, and the per-foot figure is the building's highest since its 2015 pair. Two condominiums closed between January 1 and October 15, 2026, on $3,425,000 of volume; nothing closed in 2025, and one unit closed in 2024 at $1,026,200 after 179 days. The median sale is $1,712,500 and the median price per square foot is $956, against $805 in 2024, $841 in 2022, $926 in 2021 and $1,037 in 2015, when a $3,700,000 sale set the prior high; the record runs to the 24 developer sales of 1997 at $222 a foot.

#504, a 1,791-square-foot single-level two-bedroom, remodeled, closed at $1,800,000 on May 22 after 15 days, $1,005 a foot; it was bought in June 2001 for $859,000, up 109.5 percent, and it is the year's one paired resale; its dues run $925 a month, and the building's shared roof deck looks at the Bay Bridge and Oracle Park (MLSListings). #404, a 1,794-square-foot one-bedroom, closed at $1,625,000 on September 21 with no days on market recorded, $906 a foot. One of two went inside two weeks.

The building went up in 1923 as a Goodrich tire warehouse, served as a Seagram's liquor warehouse and then as the George Lithograph printing plant, and was converted in 1996 into 24 live-work lofts with exposed steel seismic bracing; the MLS counts 25 units, and the building record on this site lists 25 (SocketSite; MLSListings).

2026 so far, against the same window in 2025

Closings at 650 2nd 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 650 2nd St since January 1997, 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 $885 in 2021 (5 closings). 2026 year to date stands at $956.

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.

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, 0 below.

Second and Townsend

Oracle Park is one block east; the Oriental Warehouse at 650 Delancey, the 1867 brick-and-timber warehouse converted into 66 lofts in the same year as this building, is the district's other 1996 conversion (MLSListings; SF Chronicle). Under the street, The Portal, the Caltrain extension to the Salesforce Transit Center, follows Townsend and then turns north up Second to Howard; the TJPA surveyed both sides of Second Street from August 4 to September 26, 2025 (TJPA). Two blocks east, the Port paused Piers 30-32 negotiations with Strada for 18 months on October 24, 2025 (Port of San Francisco).

The nearest AI office is Sierra's 258,000 square feet at 185 Berry, two blocks south across the Caltrain tracks (Bisnow).

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