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Posted by Priya on June 3, 2019
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701 Chestnut, San Francisco

The Challenge701 Chestnut Building Exterior

San Francisco Art Institute needed to sell 701 Chestnut to leverage the funds back into their operations. This property was difficult to sell due to North Beach zoning, which severely mandates and limits uses of commercial buildings.

The Solution

The Polatnick Team was able to conduct a nation-wide search to find a buyer that would fit into the specific use parameters. At the end, there were three potential buyers vying for the asset. The winning buyer increased the offer by over $1,000,000 over the original offer.

The Result

San Francisco Art Institute was able to sell the property in a timely manner and accomplished their financial goal. The sale placed the SFAI (founded in 1871) on solid financial footing.

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