September 11, 2008
Long Vacant Hibernia Bank Sold, To Be Renovated And Rented
According to the Chronicle, the long vacant Hibernia Bank building at the corner of Market and Jones (1 Jones) has been sold for $3.95 million. According to broker Stanley Lo, “the buyer intends to improve the building and to make it rentable for business.”
Oh, and the landmark site of a heist by the SLA avec Patty Hearst in 1974.
UPDATE: Or not (quite): "The famous robbery - it was a Hibernia but not that one. It was the one in the Sunset on Noriega [1450 Noriega Street] which eventually became a video store and now is a graffitti-covered mess." Sorry about that folks (and our thanks to Pat).
∙ Historic eyesore bought after years of neglect [SFGate]
First Published: September 11, 2008 1:55 PM
Comments from "Plugged In" Readers
The famous robbery - it was a Hibernia but not that one. It was the one in the Sunset on Noriega which eventually became a video store and now is a graffitti-covered mess.
Posted by: Pat at September 11, 2008 2:05 PM
Pat is right! They dropped off the get away car next to my elementary school on Lawton. Anyone know who bought it? I have a good guess.
Posted by: Sunny Jim at September 11, 2008 2:16 PM
WOW! over 6MM off. Thats some negotiating if you ask me. I am curious as to the buyer as well... anyone know?
Posted by: Ryan at September 11, 2008 2:39 PM
that's a major SF trivia foul.
[Editor's Note: Agreed. And that's why we're calling dibs on Pat when it comes time to pick teams for Trivial Pursuit.]
Posted by: lefty at September 11, 2008 2:49 PM
Please turn it into offices, or a bank. What an insult it would be to have neon "Walgreen's" signs plastered all over the exterior.
Posted by: sf at September 11, 2008 3:42 PM
Why couldn't Don Fisher make this building his museum of modern art? Some of my favorite contemporary art museums in Europe are built inside of very old structures.
Posted by: justin at September 11, 2008 3:53 PM
They should give it the "Citycorp" treatment like on the corner of Sansome and Sutter.
Posted by: San FronziScheme at September 11, 2008 4:05 PM
What a lousy bottom staging photograph! For 3.95 million you'd think they could do a little better than a grainy photograph which looks like it was taken in the 70's!
Love the ottoman, and the velvet ropes tho -- interesting touch!
:)
Posted by: dub dub at September 11, 2008 4:14 PM
Tania should have robbed this location...the Sunset branch is too low profile. Maybe Chris Daly can join the SLA after his term is up, it would be a fitting place for that nut.
Posted by: gh at September 11, 2008 5:29 PM
Can you believe that such a beautiful area is in such bad shape -- SF government sucks.
Posted by: Dave SF at September 11, 2008 6:39 PM
Dave SF,
Well you need to provide an appropriate working environment for dealers, addicts, hookers, and gang bangers. The loin is its own agglomeration economy don't you know. If our local government did something about it, well, they'd be descriminating. I am surprised that our bright government didn't use eminent domain to turn the building into a brothel. I am equally surprised that preservationists haven't been successful in declaring the Hibernia bank on Noriega robbed by Patty Hearst a historic building.
Okay, I'm done.
Posted by: Dede at September 11, 2008 7:51 PM
"Thats some negotiating if you ask me."
The seller dropped the price from $10M to $3.95M of his own accord. That's what got the market moving. Where he got the $10M idea from, I don't know.
Posted by: BobN at September 11, 2008 9:19 PM
That is one intense-errie photograph. Don't take it the wrong way - the photo ages well. Creepy.
Posted by: Michael L at September 11, 2008 9:42 PM
this would turn into lovely luxury condos.
Posted by: ex SF-er at September 12, 2008 5:33 AM
"Why couldn't Don Fisher make this building his museum of modern art?"
It's not large enough-- it's only 38,000 square feet.
Posted by: Dan at September 12, 2008 9:37 AM
Anything is a major improvement here. This thing has sat vacant for so long that it's been the epicenter of negativity in the area, so any rehab and occupancy of this building is a good thing. I doubt it'll be converted to residential though - that's a historic building and punching holes in it for parking (must have with the location) will be tricky and expensive - probably too expensive for the prices they can get there. It'll be interesting to see what they do with it though.
Posted by: Miles at September 12, 2008 10:21 AM
San FronziScheme: Equinox on Pine is a great example of former financial gone fitness.
Posted by: livinintheloin at September 12, 2008 11:21 AM
A lot of SF gate comments insinuate that (or are affraid that) the wonderful Art Academy bought this property.
I believe the old owner was Thomas Lim (Professor?) and originally wanted to turn this into a temple? talk about a 180 from a temple to becoming a hot spot for vagrants.
Posted by: J at September 12, 2008 1:35 PM
When I movedin San Francisco in 1979 I couldn't wait to open a checking account in the bank that Patty Hearst had robbed. I too was disappointed to find out it was way out in the Sunset, impossible in the days before ATM cards. But I was happy with my runner-up choice, the then Hibernia (then Security Pacific, now B of A) at 18th and Castro.
FYI - When I first arrived in 1979, the Hibernia at Market and Jones was abandoned as you see it today.
Posted by: redseca2 at September 15, 2008 10:03 AM
Does anyone know who is the real estate construction company that purchase this?
Posted by: KateBear at September 15, 2008 3:29 PM
Does anyone know the name the real estate construction company who purchase this?
Posted by: KateBear at September 15, 2008 3:29 PM
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