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The storied property at the intersection of Polk and California streets, famously home to Swan Oyster Depot, a century-old seafood staple of San Francisco, has been sold for just shy of $8 million. According to Angelo Baglieri and Clinton Textor, real estate brokers from Marcus & Millichap, the building that hasn't changed hands in decades includes not only the iconic Swan Oyster Depot but also 29 apartments and four other retail spaces, featuring Japanese restaurant Nara, Italian restaurant Ti Piacera Ristorante, and Ora wine bar, the new owner, lauded as an experienced SF multifamily investor by Textor, reportedly intends to maintain the existing retail tenants "as they have been tenants here for decades," he told SFGATE. Discussing the age of the building, he noted that it will require maintenance while expressing confidence in the new owner's ability to manage the property's needs. Baglieri, in a narrative highlighting the transactional side of the deal emphasized the building's historical significance and the boost that such an established tenant as Swan Oyster Depot, with its notable visitors like Anthony Bourdain and Francis Ford Coppola, provided in attracting prospective buyers; this despite the concerns about deferred maintenance the building has, Baglieri said, "The building has so much history, and it was an incredible transaction to complete," in a statement, per the San Francisco Standard. The final sale price came in under the initial $8.9 million asking price, however, the deep-seated history of the structure, complete with its original quirks such as a mechanical elevator and Murphy beds, perhaps hinted at a richer past, Baglieri expressed his intrigue regarding the basement, which sports perplexing architectural features like hallways that lead to nowhere suggesting a possible connection to the Prohibition era, according to the San Francisco Standard.
