Stunning… San Francisco office tower’s value plummets 90%, sold for $6.5M amid 37% vacancy rate.

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An empty 16-story office building at 995 Market Street in San Francisco recently sold for a mere $6.5 million. This price represents a staggering 90% plunge from its 2016 value of $62 million. The building, which was once home to Burning Man headquarters and later occupied by WeWork, has faced significant challenges in the city’s struggling office market. With a vacancy rate of 37%, the steep discount reflects the current realities of commercial real estate in San Francisco.

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