Embarcadero Lofts, 300 Beale: two closings this year at $881 a foot, the lowest in the record, one after 295 days and one after four, two blocks from Anthropic's new headquarters

Embarcadero Lofts' two sales this year took 295 days and four days, and the per-foot median landed at the bottom of its record. Two condominiums closed at 300 Beale Street between January 1 and October 15, 2026, against three in the same window of 2025; $2,372,000 of volume against $3,330,000. The median sale is $1,186,000 and the median price per square foot is $881, against $984 last year, $1,106 in 2023 and $1,084 in 2020, when a $3,500,000 sale set the building's high; the annual figure had never been under $980.

#301, a 1,798-square-foot two-bedroom, closed at $1,472,000 on January 22 after 295 days, $819 a foot. #501, a 954-square-foot one-bedroom, was listed on January 12 at $915,000 and closed at $900,000 on February 17 after four days, $943 a foot; its dues run $1,027 a month (James Outland listing). One of two went inside two weeks. No unit that closed in 2026 has a prior recorded sale on this site, so there is no paired-resale table. The building's listed sales have run long for a while: #303 took 568 days to close at $1,325,000, and the penthouse #613, bought at $1,920,000 in 2017, was relisted at $2,098,000 in 2022, cut, and closed at a loss in January 2023 (MLSListings, #303; SocketSite). #609, an 1,811-square-foot two-bedroom, is listed at $1,900,000 (RubyHome).

The building went up in 1937 for the Coffin-Redington Drug Company to Frederick Meyer's design, was converted to 53 lofts on five floors by MBH Architects and joined the National Register of Historic Places in 2001; the building record on this site lists 14 units (SocketSite; RubyHome). Its lower two floors and an adjacent lot, 67 parking stalls on 0.81 acres, are on the market as a single condominium interest at $1,050,000, about $15,700 a stall (Showcase, Newmark listing).

2026 so far, against the same window in 2025

Closings at 300 Beale 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 300 Beale since July 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 $1,004 in 2021 (5 closings). 2026 year to date stands at $881.

By bedroom count, 2025 against 2026

Every closing in 2026

All 2 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.

Beale and Folsom

Lumina's 655 condominiums fill the corner of Folsom and Beale across from the lofts, with Philz, Bluestone Lane and Woodlands Market across the streets (Wikipedia; SocketSite). Two blocks away at Howard and Fremont, Anthropic signed a full-building lease on the 466,000-square-foot 300 Howard on February 2, 2026, with 18,000 more at 342 Howard, adding to its floors at 500 and 505 Howard (BusinessWire). Three blocks west, the 2.4-acre East Cut Park under and around the Fremont Street offramp, Folsom to Clementina between First and Second, is budgeted at more than $42 million with a third-quarter 2026 construction start and about 33 months of work, per the Examiner (SF Examiner).

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
tim@mcmullen.properties · (415) 691-9272