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Parc Telegraph: four closings this year at $859 a foot, with resales from 2003, 2014 and 2024 that gained 77, 0.2 and 5.4 percent, a block from the waterfront's AI startups
Every 2026 closing at Parc Telegraph, the 1992 complex at the foot of Telegraph Hill beside Levi's Plaza, against a record that runs back to 1993
Four closings at 111 Chestnut Street through October 15, against three in the 2025 window; $3.7 million of volume against $2.9 million. Median sale $1,003,500; median $859 a square foot, flat on $857 and 15 percent under the building's 2020 high. Three paired resales: #303 bought in 2003 for $630,000 and sold for $1,115,000; #203 bought in 2014 for $1,030,000 and sold for $1,032,000; #402 bought in December 2024 and sold up 5.4 percent.
Parc Telegraph's three resales this year are a 23-year chart of the North Waterfront in three lines. Four condominiums closed at 111 Chestnut Street between January 1 and October 15, 2026, against three in the same window of 2025; $3,707,000 of volume against $2,860,000. The median sale is $1,003,500 and the median price per square foot is $859, flat on last year's $857 and 15 percent under the building's high of $1,009 in 2020.
#303, a 1,300-square-foot two-bedroom, was bought in October 2003 for $630,000 and sold on April 11 for $1,115,000, up 77 percent; it is the high sale of the year, after 52 days. #203, 1,233 square feet, was bought in July 2014 for $1,030,000 and sold on August 17 for $1,032,000, up 0.2 percent in twelve years, after 15 days. #402 was bought in December 2024 for $925,000 and sold on September 25 for $975,000, up 5.4 percent. The 2003 buyer, the 2014 buyer and the 2024 buyer each got a different market, and the 2014 buyer got none.
Three two-bedrooms sold at a median of $1,032,000 and $858 a foot; the one one-bedroom, #304, is the low at $585,000 for 680 square feet, after 19 days. The median listed sale took 20 days to contract against 44 last year, and none of the four went inside two weeks.
The complex is 118 condominiums on nine floors, finished in 1992 and spanning the block from 200-240 Lombard through to 111 Chestnut at the base of Telegraph Hill, with a pool, spa, gym, roof deck and valet, and dues that include earthquake insurance and a door attendant (RubyHome).
2026 so far, against the same window in 2025
Closings at Parc Telegraph 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 | $2,860,000 | $3,707,000 |
| Median sale price | $950,000 | $1,003,500 |
| Median $/sq ft | $857 | $859 |
| Median days on market | 44 | 20 |
| Under 15 days (of MLS sales) | 1 of 2 | 0 of 4 |
Year by year
Every recorded closing at Parc Telegraph since July 1993, 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 | 4 | $940,000 | $894 | — | $1,250,000 |
| 2017 | 2 | $1,217,500 | $937 | — | $1,250,000 |
| 2018 | 3 | $705,000 | $1,134 | — | $715,000 |
| 2019 | 2 | $1,057,000 | $858 | — | $1,464,000 |
| 2020 | 7 | $925,000 | $1,009 | 47 | $1,540,000 |
| 2021 | 3 | $612,500 | $1,002 | 53 | $1,035,000 |
| 2022 | 6 | $813,500 | $832 | 39 | $1,200,000 |
| 2023 | 3 | $635,000 | $1,021 | 25 | $635,000 |
| 2024 | 7 | $925,000 | $875 | 23 | $1,358,000 |
| 2025 | 5 | $950,000 | $884 | 82 | $1,515,000 |
| 2026 | 4 | $1,003,500 | $859 | 20 | $1,115,000 |
The building's highest median price per square foot in any year with five or more closings was $1,009 in 2020 (7 closings). 2026 year to date stands at $859.
By bedroom count, 2025 against 2026
| Beds | 2025 closings | 2025 median | 2025 $/sq ft | 2026 closings | 2026 median | 2026 $/sq ft |
|---|---|---|---|---|---|---|
| Not stated | 2 | $1,270,000 | $902 | 0 | — | — |
| 1 bed | 1 | $550,000 | $884 | 1 | $585,000 | $860 |
| 2 bed | 2 | $917,500 | $888 | 3 | $1,032,000 | $858 |
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 |
|---|---|---|---|---|---|---|
| 111 Chestnut Street, #303 | 2 | 1,300 | $1,115,000 | $858 | 52 | Apr 11 |
| 111 Chestnut Street, #203 | 2 | 1,233 | $1,032,000 | $837 | 15 | Aug 17 |
| 111 Chestnut Street, #402 | 2 | 1,033 | $975,000 | $944 | 22 | Sep 25 |
| 111 Chestnut Street, #304 | 1 | 680 | $585,000 | $860 | 19 | Mar 21 |
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 |
|---|---|---|---|---|---|
| 111 Chestnut Street, #203 | Jul 2014 | $1,030,000 | Aug 2026 | $1,032,000 | +0.2% |
| 111 Chestnut Street, #402 | Dec 2024 | $925,000 | Sep 2026 | $975,000 | +5.4% |
| 111 Chestnut Street, #303 | Oct 2003 | $630,000 | Apr 2026 | $1,115,000 | +77.0% |
3 of these resold above the prior price, 0 below.
The North Waterfront, beside Levi's Plaza
The complex is the residential block northwest of Levi's Plaza, the HOK campus of 1981 that Jamestown bought for about $820 million in 2019 and where Levi Strauss renewed 354,000 square feet in 2021 (Wikipedia; Connect CRE). The Levi's store at 1155 Battery reopened on October 1, 2025 and the company's Vault museum the following month (Levi Strauss & Co.). Jamestown has leased the two campuses here as an AI cluster: Goodfire AI grew from 4,100 to 19,200 square feet at Levi's Plaza, and Waterfront Plaza one block north signed Salient, Sync Labs, Overview.AI, Solidroad and Zams in May 2025 and Greptile, Tzafon.ai, Million AI and Splight in November, 15 AI tenants and more than 120,000 square feet in a year (Jamestown; Jamestown).
On the Embarcadero, Fog City at 1300 Battery closed in May 2025 after 40 years; Moonchild, from a chef out of Quince and Benu, is aiming at the space for late 2026 with the Port waiving the first year's rent (ABC7; Hoodline).
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://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://finance.yahoo.com/markets/stocks/articles/bay-area-condo-values-still-120000717.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://www.rubyhome.com/san-francisco-ca/parc-telegraph/
- https://en.wikipedia.org/wiki/Levi%27s_Plaza
- https://www.connectcre.com/stories/san-franciscos-levis-plaza-sold-in-blockbuster-820m-deal/
- https://www.levistrauss.com/2025/10/01/a-new-chapter-at-our-san-francisco-headquarters/
- https://www.jamestownlp.com/news/san-franciscos-northern-waterfront-solidifies-position-as-emerging-ai-hub-with-over-43000-sf-in-new-office-leases
- https://www.jamestownlp.com/news/ai-startups-drive-38000-sf-in-new-office-leasing-at-san-franciscos-northern-waterfront
- https://abc7news.com/post/iconic-fog-city-diner-san-francisco-permanently-closes-40-years-embarcadero/16634764/
- https://hoodline.com/2026/03/fog-city-fades-moonchild-rises-on-the-embarcadero/
- Parc Telegraph · 111 Chestnut St · Telegraph Hill
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.