Dear Presidio Heights Neighbor,

Welcome to the Winter 2025 PHAN newsletter! In this issue you'll read about things going on in the neighborhood, including an event that we're hosting next month, the status of the larger local real estate development projects and some new businesses that have recently opened on Sacramento Street.

We are excited to invite you to a "Meet, Greet and Q&A" on March 19 with our new supervisor, Stephen Sherrill. See below for all the details.

As a volunteer organization that represents our neighborhood, we encourage each household in Presidio Heights to join PHAN for 2025. The annual dues are $40.00. Thank you!

Sincerely,

The PHAN Board of Directors

Meet, Greet and Q&A with New

District 2 Supervisor, Stephen Sherrill

Wednesday, March 19

5:15pm - 6:30pm

Presidio Branch Library

3150 Sacramento Street

Register here. Space is limited. This event is FREE.

PHAN is pleased to host a "Meet, Greet and Q&A" with District 2 Supervisor Stephen Sherrill so that our neighbors can get to know our new representative on the Board of Supervisors.

Stephen was appointed to Catherine Stefani's position by former Mayor London Breed after Catherine was elected the California State Assembly Member for District 19. You can learn more about Stephen’s background here. 

Come to meet the supervisor and get your questions answered. We ask that everyone who will be attending register in advance. Do you have a question for Supervisor Sherrill? Make sure to submit it on the registration form.

See you at the Presidio Branch Library on March 19!

The Latest News on 3333 California Street

The project at 3333 California Street was approved in 2019 and Prado Group is currently finalizing the schematic design phase for a portion of the project to submit for building permits, with a targeted construction start in 2027. The approved project is comprised of 744 residential units and approximately 40,000 SF of retail along California Street. Prado Group is thrilled to launch the new name of the 3333 California Street development, Presidio Highlands. Explore the updated project website, featuring the latest renderings and details: Presidio Highlands | Luxury Residential Neighborhood & Retail in San Francisco.

The Latest News on 3700 California Street

Prado Group is underway finalizing the City’s environmental review for the 3700 California Street project and anticipates a Planning Commission Hearing sometime in April/May 2025. The proposed project is comprised of 335 residential units, including 15 single family homes along Sacramento Street, and 232 senior housing units. The proposed project has been designed to comply with the existing zoning and height limits. The targeted construction start date is 2026. The project’s website is www.3700CalSF.com and will be updated periodically.

Some Happenings on Sacramento Street

• The Bar Code SF, our local pop-up store that's featured clothes designers from around the world, has become the home to ready-to-wear and swimwear designer Malia Mills through this December. 3600 Sacramento Street

• Chloe Gallery, which specializes in modern and contemporary, American and international paintings and sculptures, had a soft opening of its second SF location in January. Owners Greg Lejnieks and Amy Nelder will be hosting monthly artist events. Community members are invited to stop by or email info@chloegallery.com to receive invitations and to learn more. 3462 Sacramento Street

• Are you wondering what's replacing the former garage and medical building at 3637-3657 Sacramento Street? It will be a four story, mixed-use building that will have 18 residential units and two levels of underground parking. The project is in the excavation/shoring phase, which the contractor anticipates will be done by mid-April. The entire project will take about 24-30 more months to complete.

The Latest on the Presidio Heights

Real Estate Market

By Carol Solfanelli, PHAN Board Member

What is currently happening with the real estate market in San Francisco? Realtors are generally seeing that inventory is still low, especially for single family homes. This has created a strong market for homes with low inventory and high buyer demand. Multiple offers with substantial over asking prices are happening across the city for single family homes that are priced right. The condo market with much more inventory is moving more slowly, but we are starting to see an uptick. On a recent Broker Tour, there were several agents with condo listings who informed me that they had at least 10 disclosure packages out and had set offer dates. These are good signs for the home and condo markets!

Let’s take a look at home and condo sales in our neighborhood in 2024.

Home Sales

According to the Multiple Listing Service, 24 homes sold in Presidio Heights in 2024 at an average price of $7,578,474, more than $2M less than the 2023 average of $10,094,200. The highest and lowest sales prices in the past year were $24,000,000 for a 12,022 square foot eight bedroom home on Jackson and $2,400,000 for a smaller two bedroom home on Laurel. The average time on the market for these homes was a relatively quick average of 37 days last year. The average in 2023 was 43 days. Volume was up in 2024, with nine more home sales than in 2023.

In 2024, 16 condos sold in this neighborhood at an average price of $2,028,531, down from an average of $2,370,667 in 2023. The highest and lowest sales prices in 2024 were $4,275,000 for a 3,263 square foot four bedroom condo on Walnut and $750,000 for a 600 square foot, one bedroom condo on Arguello. The average time on the market for these condos was 30 days in 2024, compared to 51 days in 2023. Volume was up with seven more condos selling in 2024 than 2023.

These numbers do not include any off-market sales that may have occurred. I discussed whether or not selling off-market is a good idea in a previous blog post. You can compare these sales to sales in late 2022 in another prior blog post.

Conclusion

Reviewing this data reveals that while there were more sales of single family homes and condos in 2024 than in 2023 in Presidio Heights, average prices for each were lower in 2024 than in 2023. However, it is hard to draw a firm conclusion since off-market sales, which can sometimes make up 30% of the sales, are not included. In addition, the average sales price is affected by the type of properties sold and an unusually low sales price sale can bring the average down. If Presidio Heights follows the pattern we are seeing across SF, we can anticipate that with the neighborhood’s low inventory (only three homes and two condos are currently on the market here), our market is likely to pick up to satisfy buyer demand.

Carol Solfanelli is a real estate broker with Compass. She can be reached at 415-297-7031.

The Presidio's "Pave Plus" Project

The Presidio Trust is underway with its "Pave Plus" Project. The project's goal is to make it "easier and safer to get around the Presidio on foot, bike, wheels, and public transit." This initiative began last summer and will be impacting areas in the national park through this summer.

Work along West Pacific Avenue is to be completed by late-March. The stretch of road that will be affected is marked with the #5 on the map above.

According to the Presidio Trust, it "will upgrade storm drains and enhance the parking area, which might cause some traffic delays and a temporary reduction in parking" along West Pacific Avenue. For more information, visit the Pave Project website or contact the Presidio Trust at presidio@presidiotrust.gov.

PHAN is a volunteer-run association that relies on member support. Membership dues help PHAN organize community events to bring neighbors together around issues of interest and advocate with City Hall, when needed.

Annual dues are $40.00. We purposefully keep them low to encourage people to become dues-paying members. Go to PHAN's website to pay via PayPal or Venmo.

Help make our neighborhood stronger by joining today. Thank you!

Forward This Newsletter

If you have a neighbor who did not receive this newsletter, forward it to them! The more people read PHAN's newsletters, the more neighbors will be informed about what's going on in our neighborhood.

To contact PHAN, email us at info@phansf.org. Let us know what you would like included in future newsletters. Also, send us your comments, suggestions or corrections.