One Steuart Lane: 15 closings this year on $62 million of volume, 14 of them first sales from the developer, with Google's renewed 405,000 square feet directly behind the building

One Steuart Lane is still selling itself, and that is the first thing to read in its 2026 figures. Fifteen condominiums closed at 1 Steuart Lane between January 1 and October 15, 2026, against eight in the same window of 2025; $61,989,000 of volume against $32,131,500, the largest dollar figure of any building in this series. Fourteen of the 15 have no prior recorded sale in the building, which makes them first sales from the developer rather than resales, and eight of them closed without an MLS listing.

The median sale is $2,995,000 and the median price per square foot is $1,664, against $1,922 in the 2025 window and the building's high of $2,778 in 2024, so the figure is 40 percent under the peak; the mix explains most of that, because 2024's eight closings had a median of $7,047,500 and were the tower's big floors, while this year has four one-bedrooms at a median of $1,225,000 and $1,382 a foot, eight two-bedrooms at $3,547,500 and $1,978, and three three-bedrooms at $8,300,000 and $3,060.

The high sale is #801, a 2,974-square-foot three-bedroom at $9,100,000 on July 2, into contract in four days. #1706, 2,351 square feet, closed at $8,300,000 on October 13 after 48 days, which is $3,531 a foot, the highest of the year. The low is #307, a 917-square-foot one-bedroom at $999,000 on August 6, which never listed; the same plan one floor up, #407, closed at $1,100,000 on August 11 after 75 days. The median listed sale took 19 days to contract, and three of seven went inside two weeks.

The one paired resale is #906, a 2,559-square-foot three-bedroom bought in February 2025 for $7,100,000 and sold on July 15 for $7,100,000, a gain of zero in 17 months, after 19 days on the market; its dues run $3,904 a month (MLSListings).

Paramount Group developed the tower with the John Buck Company and SRE Group, to a Skidmore, Owings and Merrill design by Craig Hartman with Rottet Studio interiors and Swinerton as builder: 20 stories and 220 feet, 120 condominiums, LEED Gold, clad in Roman travertine with cantilevered floor slabs and no perimeter columns; construction began in July 2018 on the site of an eight-story parking garage at 75 Howard, after a 2015 approval fought over shadows on Rincon Park (SOM; Bisnow; Hoodline). The penthouse sold in October 2022 for $10,500,000, $4,487 a foot (Connect CRE).

2026 so far, against the same window in 2025

Closings at One Steuart Lane 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 One Steuart Lane since August 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 $2,778 in 2024 (8 closings). 2026 year to date stands at $1,664.

By bedroom count, 2025 against 2026

Every closing in 2026

All 15 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.

0 of these resold above the prior price, 0 below.

Steuart and Howard, beside Rincon Park

The tower stands between Rincon Park, with Cupid's Span, and Hills Plaza, the 650,000-square-foot complex at 345 Spear and 2 Harrison where Google has been since 2007; in 2025 Google let its 320,000 square feet at One Market Plaza expire and renewed 405,000 square feet at 345 Spear, which puts the company's largest San Francisco office directly behind the building (Hoodline; Connect CRE; SF Chronicle). One block north at 8 Mission is the 1 Hotel, the former Hotel Vitale (Time Out). One Market, the restaurant at the foot of Market Street, closed in June 2025 after 32 years (SF Standard).

Three blocks west along Howard is 300 Howard at Beale, the 25-story tower Anthropic leased in full in February 2026, the eastern end of six buildings it holds between Beale and First; Perplexity's 80,561 square feet at 181 Fremont is a block beyond (Business Wire; Traded).

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