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The Rockwell, a mile from the nearest AI lease: eight sales this year, two-bedrooms at $1,519 a foot, and the median listing still selling in 16 days
Every 2026 closing at The Rockwell, on the Pine Street edge of Pacific Heights, against the record since 2016
Eight closings at 1688 Pine through October 15, against 13 in the 2025 window. Median price per square foot is $1,260 against $1,243; the building's 2020 high was $1,394. Two-bedrooms went from $1,314 to $1,519 a foot. Three paired resales split two down, one up.
The Rockwell is in this series as the control. It stands at Pine and Van Ness on the edge of Pacific Heights, a mile from the nearest building in the AI office cluster, and its 2026 record looks a good deal like the SoMa towers' anyway. Eight condominiums closed at 1688 Pine between January 1 and October 15, against 13 in the same window of 2025, on $10.3 million against $14.0 million. The median listed sale went into contract in 16 days; last year it was 7, so the building is a little slower than it was and still faster than most of the city.
Price per square foot is $1,260 year to date against $1,243, and the building's best year was 2020 at $1,394, so this year sits 9.6 percent under it. The two-bedroom line moved most: five sold at a median of $1,498,000 and $1,519 a foot, against ten last year at $1,418,000 and $1,314. The high sale is E1211, a 1,184-square-foot two-bedroom, at $1,798,000 on April 15 with zero days on market; E1111 closed at $1,740,000 on October 13 after 39 days.
The 2016 row in the year-by-year table, 137 closings, is the developer sell-out. Three paired resales are on record this year and they split: W502, bought in October 2022 for $1,225,000, sold for $1,310,000, up 6.9 percent; E313, bought from the developer in June 2016 for $930,000, sold for $905,000, down 2.7 percent over ten years; and a unit bought in October 2021 for $1,400,000 that closed in February at $1,310,000, down 6.4 percent.
2026 so far, against the same window in 2025
Closings at The Rockwell 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 | 13 | 8 |
| Dollar volume | $14,042,000 | $10,311,000 |
| Median sale price | $1,040,000 | $1,310,000 |
| Median $/sq ft | $1,243 | $1,260 |
| Median days on market | 7 | 16 |
| Under 15 days (of MLS sales) | 4 of 7 | 3 of 6 |
Year by year
Every recorded closing at The Rockwell since June 2016, 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 | 137 | $944,000 | $1,259 | — | $3,134,000 |
| 2017 | 4 | $1,162,500 | $1,355 | — | $1,665,000 |
| 2018 | 5 | $840,000 | $1,393 | — | $1,470,000 |
| 2019 | 7 | $1,008,000 | $1,387 | — | $1,488,000 |
| 2020 | 12 | $1,071,000 | $1,394 | 32 | $1,500,000 |
| 2021 | 50 | $960,000 | $1,292 | 27 | $3,200,000 |
| 2022 | 41 | $1,165,000 | $1,339 | 27 | $1,700,000 |
| 2023 | 8 | $1,031,500 | $1,090 | 104 | $1,300,000 |
| 2024 | 6 | $1,325,000 | $1,208 | 49 | $1,535,000 |
| 2025 | 16 | $1,075,000 | $1,243 | 7 | $1,565,000 |
| 2026 | 8 | $1,310,000 | $1,260 | 16 | $1,798,000 |
The building's highest median price per square foot in any year with five or more closings was $1,394 in 2020 (12 closings). 2026 year to date stands at $1,260.
By bedroom count, 2025 against 2026
| Beds | 2025 closings | 2025 median | 2025 $/sq ft | 2026 closings | 2026 median | 2026 $/sq ft |
|---|---|---|---|---|---|---|
| 1 bed | 6 | $840,000 | $1,234 | 3 | $875,000 | $1,187 |
| 2 bed | 10 | $1,418,000 | $1,314 | 5 | $1,498,000 | $1,519 |
Every closing in 2026
All 8 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 |
|---|---|---|---|---|---|---|
| 1688 Pine Street, #E1211 | 2 | 1,184 | $1,798,000 | $1,519 | 0 | Apr 15 |
| 1688 Pine Street, #E1111 | 2 | 1,139 | $1,740,000 | $1,528 | 39 | Oct 13 |
| 1688 Pine Street, #E1008 | 2 | 935 | $1,498,000 | $1,602 | 8 | Jun 10 |
| 1688 Pine St #502 | 2 | 1,040 | $1,310,000 | $1,260 | — | Feb 19 |
| 1688 Pine Street, #W502 | 2 | 1,040 | $1,310,000 | $1,260 | 14 | Feb 24 |
| 1688 Pine Street, #E313 | 1 | 831 | $905,000 | $1,089 | 48 | Jun 26 |
| 1688 Pine St #409 | 1 | 720 | $875,000 | $1,215 | — | Mar 27 |
| 1688 Pine Street, #W409 | 1 | 737 | $875,000 | $1,187 | 18 | Apr 08 |
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 |
|---|---|---|---|---|---|
| 1688 Pine St #502 | Oct 2021 | $1,400,000 | Feb 2026 | $1,310,000 | -6.4% |
| 1688 Pine Street, #E313 | Jun 2016 | $930,000 | Jun 2026 | $905,000 | -2.7% |
| 1688 Pine Street, #W502 | Oct 2022 | $1,225,000 | Feb 2026 | $1,310,000 | +6.9% |
1 of these resold above the prior price, 2 below.
Pine and Van Ness, a mile from the cluster
None of the office footprints in the SF Standard's AI leaderboard are within a mile of The Rockwell: the nearest are Anthropic's Howard Street buildings and Perplexity's 181 Fremont, both roughly a mile and a half east (SF Standard). That is the point of including it. The citywide figures still apply: CBRE recorded eight consecutive quarters of positive net absorption through Q3 2026, with 29 leases over 100,000 square feet completed or pending this year (SF Examiner), and the Chronicle's May analysis found the Marina, two neighborhoods north, among the eight Bay Area ZIP codes where condo values rose in real terms over the year (SF Chronicle).
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
- The Rockwell · 1688 Pine St · Pacific Heights
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.