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New Oakland Multifamily Tower Trades for Half of Assessed Value

Luxury high-rise sees heavy discounts in the sagging market that delivered 10,000 units in five years.

By Jack Rogers | January 08, 2025 at 06:23 AM

It might be hard to remember in the post-pandemic winter of 2025, but a decade ago a commercial real estate boom was building up a head of steam in Oakland.

Oakland experienced a spillover effect from San Francisco’s office market as tech companies like Uber and Twitter opened offices in the city or hatched plans to move there, drawn by lower rents and shorter commute times for East Bay residents.

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