Down the Street from the CityPlace parcels which were foreclosed upon last week, the owners of the historic Humbolt Building at 785 Market Street have slipped into default on $13.3 million interest only loan which is currently in forbearance until May first.
Designed by Meyer & O’Brien in 1905, delayed by the great quake in 1906, and completed in 1908, the Humboldt building rises 19 stories and is topped by a wedding cake dome.
According to a tipster, while expenses for the building have been rising, revenues have been declining despite the surge in demand for commercial space south of Market.
∙ CityPlace Parcels Lost To Foreclosure [SocketSite]
∙ The Humboldt Building (785 Market Street) [785marketstreet.com]