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Union House at Van Ness and Union: four closings this year at $1,814 a foot, above its 2020 opening, with three June 2020 buyers out at minus 5.5, plus 2.3 and plus 25 percent
Every 2026 closing at Union House, DM Development's 41-unit corner building at Van Ness and Union, against the record since 2020
Four closings at 1515 Union Street through October 15, against six in the 2025 window; $7.9 million of volume against $19.0 million. Median sale $2,025,000; median $1,814 a square foot, flat on $1,822 and above the $1,798 of 2020, when the developer closed 36 units. The same 1,247-square-foot plan sold twice, #4B at $2,750,000 and #5C at $2,900,000; all three paired resales trace to June 24, 2020.
Union House is a six-year-old building whose first buyers have started to sell, and three of them closed on the same day in 2020. Four condominiums closed at 1515 Union Street between January 1 and October 15, 2026, against six in the same window of 2025; $7,900,000 of volume against $19,035,000. The median sale is $2,025,000 and the median price per square foot is $1,814, flat on last year's $1,822 and above the $1,798 of 2020, when the developer closed 36 units, so this year is at the top of the building's record.
The same 1,247-square-foot two-bedroom plan sold twice. #5C closed at $2,900,000 on July 7 after twelve days, which is $2,326 a foot, the highest of the year; #4B, one floor down, closed at $2,750,000 on June 23 without listing. The two one-bedrooms went at a median of $1,125,000 and $1,232 a foot, and #4F, 913 square feet at $950,000, is the low. The median listed sale took 52 days to contract, and one of two went inside two weeks.
All three paired resales on record were bought from the developer on June 24, 2020. #4B, bought for $2,200,000, sold for $2,750,000, up 25 percent. #5C, bought for $2,835,000, sold for $2,900,000, up 2.3 percent. #4G, bought for $1,375,000, sold on July 31 for $1,300,000, down 5.5 percent. Same day, same building, a 30-point spread.
DM Development built Union House with Handel Architects and Webcor on a budget of $120 million: 41 condominiums on seven floors, 955 to 2,437 square feet, with a sky lounge, a 34-car garage and 2,900 square feet of retail; pre-sales opened in December 2019 at $1,700 to $1,900 a foot, a penthouse closed in May 2020 at $3,015 a foot, and the building was about 30 percent sold at its first move-ins that October (Multi-Housing News; Connect CRE; SF Highrises).
2026 so far, against the same window in 2025
Closings at Union House 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 | 6 | 4 |
| Dollar volume | $19,035,000 | $7,900,000 |
| Median sale price | $3,325,000 | $2,025,000 |
| Median $/sq ft | $1,822 | $1,814 |
| Median days on market | 100 | 52 |
| Under 15 days (of MLS sales) | 1 of 5 | 1 of 2 |
Year by year
Every recorded closing at Union House since June 2020, 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 |
|---|---|---|---|---|---|
| 2020 | 36 | $2,465,000 | $1,798 | 3 | $7,375,000 |
| 2021 | 4 | $2,643,500 | $2,038 | 4 | $3,040,000 |
| 2022 | 3 | $2,455,000 | $1,864 | 37 | $2,799,000 |
| 2023 | 4 | $1,620,000 | $1,399 | 56 | $2,367,447 |
| 2024 | 2 | $1,306,500 | $1,172 | 492 | $1,650,000 |
| 2025 | 8 | $2,750,000 | $1,655 | 87 | $4,425,000 |
| 2026 | 4 | $2,025,000 | $1,814 | 52 | $2,900,000 |
The building's highest median price per square foot in any year with five or more closings was $1,798 in 2020 (36 closings). 2026 year to date stands at $1,814.
By bedroom count, 2025 against 2026
| Beds | 2025 closings | 2025 median | 2025 $/sq ft | 2026 closings | 2026 median | 2026 $/sq ft |
|---|---|---|---|---|---|---|
| 1 bed | 0 | — | — | 2 | $1,125,000 | $1,232 |
| 2 bed | 5 | $2,550,000 | $1,576 | 2 | $2,825,000 | $2,266 |
| 3 bed | 3 | $3,860,000 | $1,990 | 0 | — | — |
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 |
|---|---|---|---|---|---|---|
| 1515 Union Street, #5C | 2 | 1,247 | $2,900,000 | $2,326 | 12 | Jul 07 |
| 1515 Union Street #4B | 2 | 1,247 | $2,750,000 | $2,205 | — | Jun 23 |
| 1515 Union Street, #4G | 1 | 913 | $1,300,000 | $1,424 | 92 | Jul 31 |
| 1515 Union St #4f | 1 | 913 | $950,000 | $1,041 | — | 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 |
|---|---|---|---|---|---|
| 1515 Union Street, #4G | Jun 2020 | $1,375,000 | Jul 2026 | $1,300,000 | -5.5% |
| 1515 Union Street, #5C | Jun 2020 | $2,835,000 | Jul 2026 | $2,900,000 | +2.3% |
| 1515 Union Street #4B | Jun 2020 | $2,200,000 | Jun 2026 | $2,750,000 | +25.0% |
2 of these resold above the prior price, 1 below.
Van Ness and Union
The building holds the corner of Van Ness and Union, with a second address at 2465 Van Ness, where Cow Hollow, Russian Hill and Pacific Heights meet (Webcor). Directly across Van Ness is The Belvedere at 2525 Van Ness, the other Handel-designed condominium building on the intersection, finished in 2024 on the site of the Big Bubble laundromat (SF YIMBY; SocketSite). The Octagon House of 1861 is two blocks west at Gough and Union (Corcoran listing, #6E).
Van Ness got its bus rapid transit lanes in April 2022, and in April 2025 the Board of Supervisors lifted the formula-retail ban on the avenue, which governs what can fill the ground floors here (SFist; SFist). No AI office of any size is within walking distance; the nearest cluster is the North Waterfront's startup leases at Levi's Plaza and Waterfront Plaza, a mile and a half east (Jamestown).
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.multihousingnews.com/dm-development-completes-120m-condo-project/
- https://www.connectcre.com/stories/union-house-set-to-deliver-41-north-san-francisco-residences/
- https://www.sfhighrises.com/pre-sale-preview-for-union-house-in-pacific-heights/
- https://webcor.com/projects/union-house
- https://sfyimby.com/?p=21758
- https://socketsite.com/?p=51576
- https://origin-redesign.corcoran.com/listing/for-sale/1515-union-street-6e-san-francisco-ca-94123/90340161/regionId/100
- https://sfist.com/van-ness/
- https://sfist.com/2025/04/22/supervisors-lift-the-formula-retail-ban-on-van-ness-and-add-the-fillmore-safeway-property-to-that-exemption-too/
- https://www.jamestownlp.com/news/ai-startups-drive-38000-sf-in-new-office-leasing-at-san-franciscos-northern-waterfront
- The Belvedere · 2525 Van Ness Ave · Cow Hollow
- Union House · 1515 Union St · Cow Hollow
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.