October 10, 2008
Hibernia Bank Buyer Unmasked (The Dolmen Property Group)
The buyers of San Francisco's long vacant Hibernia Bank have been unmasked, and J.K. Dineen has the scoop: it's the Dolmen Property Group (think 2345 Harrison and Citrino).
Dolmen Property Group Managing Director Seamus Naughten said the $3.9 million investment is a long-term hold and that the plans for the 1892 structure at Jones and Market streets are up in the air. He said his company would complete all necessary construction work to bring the structure back to life.
∙ Hibernia mystery deal solved, buyer revealed [Business Times]
∙ Long Vacant Hibernia Bank Sold, To Be Renovated And Rented [SocketSite]
∙ Citrino (566 South Van Ness): Website Update And A Few Prices [SocketSite]
First Published: October 10, 2008 6:45 AM
Comments from "Plugged In" Readers
Well we all know it won't be a bank
tsk.
Posted by: High Rise Harry at October 10, 2008 8:38 AM
it's a cool building. I hope that they keep some of it's original glory whatever they do with it.
Posted by: ex SF-er at October 10, 2008 10:32 AM
I don't understand why people link to mapjack. That site is so beta it's almost alpha. I always get pointed to Phucket.
Posted by: sf at October 10, 2008 11:39 AM
Let's be honest -- given the climate and City opposition to everything -- nothing will go into that space in the next 15 years. It will be vacant until at least 2023. The price was low enough that at least debt service / cost of money probably makes it a great deal. In 2035 -- we will look back and think it was cheap. (If you are still alive).
Mark
Posted by: Mark at October 10, 2008 9:56 PM
It would make an awesome BART or MUNI station, but I have a feeling it's going to be CONDOS, the typical boring San Francisco developments of today.
Posted by: sf at October 12, 2008 12:55 PM
Another lost opportunity for the Donald Fisher art collection. But WHY would he want to save this building and put the art here where it could be easily reached by the marjority of San Franciscans and visitors, not to mention easy connections to public transit.
I am afraid "sf" is right and this will be more boring condos.
Posted by: anon2 at October 12, 2008 2:09 PM
Aren't the new buyers the folks that own the old Channel 7 (?) building on Golden Gate? Anyone know what's going on with that?
Posted by: livinintheloin at October 13, 2008 1:16 PM
Post a comment
Continue Perusing SocketSite:
« The Graphic To Go With The 2008 Granted Reductions | HOME | Perhaps It’s Time For The Hard Stuff: 161-165 Collingwood Cuts Again »
