1244 Sutter Street, San Francisco
1244 Sutter was a single-screen theater in an un-reinforced masonry building. There was a retail tenant on the ground floor with a month-to-month lease.
David Polatnick developed a strategic plan to reposition the operation and tenancy of the building. After extensive review of the historic aspects of the building, Polatnick found that in the 1960’s, the building was used as a concert hall called the Avalon Ballroom, which hosted bands including the Rolling Stones and The Who.
After a comprehensive base-building seismic upgrade, Polatnick secured a long-term tenant that was willing and able to restore the building to its original grandeur. The building was used as a facility for upmarket events. Polatnick also supported a three-way transaction that simultaneously installed a subtenant for the ground floor.