Posted 10/20/2023, 8:58:07 PM
San Francisco's NEMA Apartment Building Faces Foreclosure After Nearly 50% Value Drop Since 2018
- San Francisco apartment building NEMA has seen 48% value drop since 2018, now worth $279M
- Building owned by Crescent Heights, has 754 units and 37 floors
- Located in Mid-Market area with several tech HQs like X (formerly Twitter)
- Trepp data shows NEMA could face foreclosure due to mortgage default
- San Francisco office occupancy still around 44%, companies exiting downtown locations