Murano, Handel Architects' 2021 building on the old Chevron corner at Lombard and Pierce: one closing this year, a two-bedroom at $1,548,000, 6 percent over its 2022 price and $1,401 a foot

Murano's one sale this year matched the building's 2022 price per foot exactly. One condominium closed at 3131 Pierce Street between January 1 and October 15, 2026, against two in the same window of 2025; $1,548,000 of volume against $3,250,000. The price per square foot is $1,401, against $1,132 on last year's pair, $1,258 in 2024, $1,244 in 2023, $1,401 across the nine sales of 2022 and $1,434 across the nine developer sales of 2021.

#201, a 1,105-square-foot two-bedroom with a Studio Becker kitchen, Miele appliances and one parking space, was listed on February 26 at $1,548,000 and closed at $1,548,000 on April 12 after 28 days; its dues run $950 a month; it was bought in May 2022 for $1,460,000, up 6 percent, and it is the year's one paired resale (Redfin). The building has a lobby attendant and a rooftop terrace with two fire pits and Golden Gate Bridge views.

Handel Architects designed the four-story building for the southwest corner of Lombard and Pierce, 22 condominiums of 719 to 1,731 square feet over ground-floor retail addressed 2301 Lombard, with a facade of rising and falling perforated-metal ribbons after the curves of upper Lombard; the site was the Marina Chevron, vacant for more than a decade before DM Development bought it in 2015, and the building was completed in 2021 (Handel Architects; Archello; SocketSite; RubyHome).

2026 so far, against the same window in 2025

Closings at Murano 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 Murano 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 $1,434 in 2021 (9 closings). 2026 year to date stands at $1,401.

By bedroom count, 2025 against 2026

Every closing in 2026

All 1 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.

Lombard and Pierce

Across Pierce stands the 1968 A-frame built for IHOP at 2299 Lombard, vacant since the restaurant closed in spring 2018 and marketed with its corner lot, and next door west is Vela, the 21-unit 2016 rental building at 2353 Lombard (SocketSite, Apr 2018; SocketSite). The 2055 Chestnut block behind, Steiner to Fillmore, dropped an approved 49-unit apartment plan in February 2026 for four retail spaces in the existing bank building, keeping its Lombard-facing parking lot, and 1990 Lombard at Webster is converting its third-floor offices to four apartments (SF YIMBY, Feb 2026; SF YIMBY, May 2026). Amici's at 2200 Lombard closed in September 2024 at the end of its lease (Hoodline).

No AI office of any size is within walking distance; the nearest is a startup's villa headquarters overlooking the Palace of Fine Arts, reported in March 2026 without an address, and the office figures in the paragraphs below describe SoMa, three miles southeast (SF Standard).

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