Four Seasons Residences at 765 Market: nine closings this year at $1,174 a foot, with two combined units above $4 million

The Four Seasons Residences had the busiest year in its short record. Nine condominiums closed at 765 Market Street between January 1 and October 15, 2026, against two in the same window of 2025 and two for all of last year; $25,995,000 of volume against $6,625,000. The record here begins in June 2021, so every comparison is between thin years, and 2026 is the first with five or more closings.

The median sale is $2,495,000 and the median price per square foot is $1,174, against $1,044 in the 2025 window. Three bedroom counts sold: five two-bedrooms at a median of $2,275,000 and $1,185 a foot, three three-bedrooms at $3,100,000 and $954 a foot, and one four-bedroom, #37EF, at $4,750,000. That unit and #36CD at $4,150,000 are the two largest sales of the year, and both are combined units, 4,000 and 3,750 square feet, which is why the three-bedroom per-foot figure runs under the two-bedroom one.

#36CD is also the year's one paired resale: bought in December 2024 for $3,850,000 and sold on March 4 for $4,150,000, up 7.8 percent in 15 months. #37EF went into contract in 14 days. The low sale is #25H, a 1,427-square-foot two-bedroom at $1,675,000 after 54 days. The median listed sale took 28 days to contract, and three of nine went inside two weeks.

The tower is 40 floors and 397 feet, completed in January 2001 by Millennium Partners with Handel Architects, 142 condominiums above a 277-room hotel and a three-floor Equinox; it was the first large residential building started downtown in a decade and the first skyscraper San Francisco finished this century (Handel Architects; Wikipedia). The hotel below the residences changed hands in December 2025, sold by Westbrook Partners to Blackstone for $130 million (Wikipedia).

2026 so far, against the same window in 2025

Closings at Four Seasons Residences 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 Four Seasons Residences since June 2021, 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 $1,174 in 2026 (9 closings). 2026 year to date stands at $1,174.

By bedroom count, 2025 against 2026

Every closing in 2026

All 9 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.

Market Street between Third and Fourth

The building fronts Market on the south side between Third and Fourth, and its own project created Yerba Buena Lane, the pedestrian cut from Market to the Yerba Buena gardens that runs along its west wall (Handel Architects). On the other side of the lane is the Humboldt Bank Building at 785 Market, the 1908 tower that Forge Development began converting from offices to roughly 120 apartments in October 2024 (SF YIMBY). Oink and Oscar opened on the lane in August 2025 (Yerba Buena Partnership).

One block west, the San Francisco Centre closed for good in late January 2026 after Nordstrom left in 2023 and Bloomingdale's in April 2025; its lenders took it back in November 2025, Presidio Bay and Prado Group were named buyers in March 2026 and withdrew on July 8 (Wikipedia; SF Standard; KTVU). Two blocks south, Harvey AI's lease at 201 Third Street grew to about 150,000 square feet in April 2026, and Anthropic's Howard Street buildings begin three blocks east (CoStar).

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