L3R
DENSITY
DASHBOARD
MAP
LEDGER
RECORDS
CERTIFIED
8.49M
total sf
132 buildings filed TDE
CERTIFIED BREAKDOWN
TDE Filed
28 bldgs
A10 Pure
10 bldgs
A10+A11 Dual
37 bldgs
Peak Cert Year
1985
TDR AT SOURCE
2.25M
unsold sf
130 with SF data
AT SOURCE BREAKDOWN
Sources
19 buildings
Held Positions
25 active · 600K sf
Orphaned >10yr
18 positions
Fresh <2yr
2 positions
TRANSFERRED
3.33M
total sf
477 ledger records
TRANSFER HISTORY
3yr Volume
~610K sf
Peak Year
2020 · 359K sf
2024 Volume
26K sf
Runway
~7 yrs
CONSUMED
5.88M
sf used at dev sites
108 dev sites · 191 txns
CONSUMPTION BREAKDOWN
At Dev Sites
5.88M sf
Held by Buyers
600K sf
Largest
301 Mission · 377K
Pipeline Need
269K sf
CHAIN VIEWER
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PIPELINE PROJECTS
30
Projects
269K
Short Term
1.65M
Pipeline SF
UTILIZATION
72%
UTILIZED
Available Supply (excl. CH)
1.37M sf
Supply/Demand
5.1×
Latent Capacity
2.61M sf
Market Runway
~7 yrs
Peak Year (TDT)
2020 · 359K sf
Largest Txn
KR Flower · 359K
SUPPLY
A10
A11
FLOAT
TOP SOURCES
1,092K
War Memorial
War Memorial · 1.09M sf
19 transfers · Largest source
→ Flower Mart (359K)
→ 598 Brannan (178K)
→ 88 Bluxome (44K)
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314K
Rincon Annex
Rincon Annex · 314K sf
7 transfers
→ 181 Fremont (46K)
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277K
Met Life Pac.
Met Life Pacific · 277K sf
Exhausted · 2 transfers
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268K
Old U.S. Mint
Old U.S. Mint · 268K sf
Exhausted · 2 transfers
→ 155 5th St (253K)
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187K
St. Patrick's
St. Patrick's · 187K sf
Exhausted · 4 transfers
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TOP DEVELOPMENTS
377K
301 Mission
301 Mission · 377K sf
Millennium Tower area · 4 sources
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359K
Flower Mart
SF Flower Mart · 359K sf
Kilroy · Single bulk transfer
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264K
560 Mission
560 Mission · 264K sf
Hines · 5 sources
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253K
5M Project
5M Project · 253K sf
Old U.S. Mint source
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240K
555 Mission
555 Mission · 240K sf
JP Morgan · 9 sources
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OPTION CALCULATOR
Strike Price
$
/sf
Flip Price
$
/sf
Square Footage
sf
Premium %
%
COST
$2.0M
REVENUE
$4.0M
PROFIT
$2.0M
ROI
100%
OPTION ECONOMICS
Option Premium
$4/sf
Upfront Cost
$200K
Total Acq. Cost
$44/sf
MELLO-ROOS COMPARISON
TDR Cost (Flip)
$80/sf
Mello-Roos NPV
~$132/sf
Savings vs Mello
$52/sf (39%)
Total Savings
$2.6M
PRICE INTELLIGENCE
Last Known
›
$30.79/sf
Coscinelle/McDonalds Jul 2024 · $30.79/sf
KR Flower Mart Feb 2020 · $32.50/sf (359K SF)
Tishman/City Hall Dec 2022 · $37.50/sf
Market Range
$22–38/sf
Distress Price
$18–22/sf
Illiquidity Premium
2–3×
Source: 601K float + ~1.5M at source (excl. City Hall)
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