Tishman Speyer Properties purchased the tower at 555 and 575 Market St. in 1999 for $189 million. The property was originally built in 1975 as the Chevron Headquarters. Tishman says it might now convert the top part of the building to apartments or condominiums.
Following in the footsteps of two residential towers that were built last year in the downtown area, the Four Seasons and the Paramount, Tishman says it could sell condominiums for $1 million or rent apartments for about $2000 per month.
Tishman must prepare impact reports before any decisions are made regarding changing the tower to a mixed-use complex.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
