The Ritz-Carlton Residences, 690 Market, in the 1890 Chronicle Building: one closing this year, a southwest-corner two-bedroom listed at $1,498,000 and sold at $1,400,000, the exact price it fetched in April 2022

The Ritz-Carlton Residences' one sale this year closed at the same $1,400,000 the unit fetched four years earlier, $98,000 under its list. One condominium closed at 690 Market Street between January 1 and October 15, 2026, on $1,400,000 of volume; nothing closed in 2024 or 2025, two units closed in 2023 at a median of $1,184,500, and five closed in 2022 at a median of $1,250,000, the most in any year. The price per square foot is $978, against $770 in 2023, $1,028 in 2022, $1,096 on the one 2021 sale and $1,388 on the $4,990,000 sale of 2020, the building's high.

#1703, a 1,431-square-foot renovated southwest-corner two-bedroom with city views and one valet space, was listed on May 18 at $1,498,000, went pending on June 24 and closed at $1,400,000 on July 2, 37 days from listing to contract and 6.5 percent under the ask; its dues run $3,655 a month and cover the 24-hour concierge, fitness center, resident lounge and wine storage; it was bought in April 2022 for $1,400,000 after a $1,595,000 ask had been cut, so the paired resale is flat (Redfin; The Front Steps). The building's listings in October ask $5,950,000 for #2402, $1,795,000 for #905 and $998,000 for #1605 (Redfin). The early sales ran the other way: a YouTube co-founder bought a penthouse shell at $4,850,000 in 2007 and relisted it $2 million lower in 2018, and #1702, bought new at $1,530,000 in 2008, sold at a loss in December 2019 (SocketSite).

The building is the Chronicle Building, commissioned by M.H. de Young in 1888 from Burnham and Root and finished in 1890 as the city's first skyscraper, gutted in 1906 and rebuilt by Willis Polk, clad in aluminum and porcelain in 1962, and in 2004 approved for a restored facade, a residential conversion and eight added stories, reopening in November 2007 as a Ritz-Carlton club and residences, city landmark 243; a 2014 plan proposed converting 24 of the 49 time-share units to bring the condominiums from 57 to 81, which is the count the building record on this site carries, while the listing record counts 76 (Wikipedia; NoeHill; SocketSite, Oct 2014).

2026 so far, against the same window in 2025

Closings at The Ritz-Carlton 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 The Ritz-Carlton Residences since May 2020, 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 $1,028 in 2022 (5 closings). 2026 year to date stands at $978.

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.

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

Market and Kearny, Newspaper Corner

Across Market at Third, the Hearst Building is to become a hotel: on February 24, 2026 the Board of Supervisors approved, 9 to 2, a development incentive agreement with Bespoke Hospitality rebating up to $40 million of hotel tax over 20 years for a conversion of floors two through twelve into up to 170 rooms with a rooftop bar (Board of Supervisors). Down Market, the San Francisco Centre at 865 Market closed entirely on January 26, 2026 after its new owners ended the remaining leases, Uniqlo is moving to 801 Market and Los Angeles Apparel is taking its 111 Powell store, and the Powell Street cable car turnaround and three blocks of Powell go into a $40 million rebuild from late 2026 with $14.5 million of private money (Wikipedia; SF Standard; Hoodline).

The nearest AI offices are Rad AI's 11,500 square feet on the 25th floor of 55 Second, signed in May 2026, and Hex's 20,000 square feet at 100 Montgomery, signed March 30; Harvey's 150,000 square feet at 201 Third and Reflection AI's two floors at 140 New Montgomery are three blocks south (Downtown SF Partnership; Traded; The Real Deal).

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