Uris Acquisitions Buys 47 Kearny Street in San Francisco for $4.2 Million

Uris Acquisitions, led by Ian Jacobs and Max Raskin, purchased the eight-story office building at 47 Kearny Street in San Francisco's Union Square for $4.2 million, or roughly $150 per square foot, Colliers broker Julie Taylor said. The seller was K & H California LLC, tied in state records to David Gronowski. The 28,660-square-foot property is 89 percent leased and traded for the first time in at least four decades. The deal extends a Union Square buying spree by Uris, which Jacobs said in 2024 would deploy a $75 million vehicle to acquire 3 million square feet of distressed San Francisco commercial assets. Prior purchases include 200 Powell Street for $7.4 million, 35 Powell Street for $7.5 million and 111 Ellis Street for $7.8 million. Taylor said seven buildings have sold along the Post Street corridor in the past 12 months, with multiple offers and competitive bidding. The activity follows a value reset after the pandemic-era retail exodus and foreclosures; LVMH's purchase of 220 Post Street for $48 million this week was cited as a strong endorsement of the district's recovery.