An apartment building in San Francisco has reportedly experienced a large decrease in its value compared to where it stood in 2018, according to the San Francisco Chronicle.
An apartment building in San Francisco has reportedly experienced a large decrease in its value compared to where it stood in 2018. The San Francisco Chronicle, citing data from Trepp, reported Thursday that the building, the Crescent Heights-owned NEMA, had its value decline by $264.6 million, hitting $279 million, more than a 48% drop from 2018, when it was worth $543.6 million. Trepp had also tweeted about it Wednesday.
FOX Business reached out to Crescent Heights for comment but did not receive a response by the time of publication. San Francisco and its real estate markets have been working to recover from the height of the COVID-19 pandemic. The city has a large presence of companies in the tech sector, many of which let their employees start working remotely.
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