SAN FRANCISCO, CA— Matthews™, a commercial real estate investment services and technology firm, facilitated the sale of Lucia Apartments, located at 1750 Greenwich Street in San Francisco, CA. Matthews™ Associates Jack Markey & Jake Hoggatt and Market Leader Chuck Evans represented the seller in the $8,705,000 transaction, marking the second-highest sale price for a multifamily property sold in the Cow Hollow submarket within the last seven years.

 

Located between the Marina District and Pacific Heights, Lucia Apartments is positioned 2.4 miles from downtown San Francisco, offering residents immediate access to the submarket’s premier dining, boutique shopping, and waterfront amenities. Originally built in 1925, the fully occupied asset features one studio and 12 one-bedroom units, each equipped with a dedicated covered parking space.

 

The seller, Lorenzo Were, a Beverly Hills-based investor, elected to bring the property to market as part of a strategic portfolio restructuring. The Matthews™ agents sourced the opportunity through direct outreach and executed a targeted marketing campaign, ultimately securing a Denver-based investor completing a 1031 exchange. Looking to expand his multifamily portfolio, buyer Steven Swire was attracted to the property’s strong in-place cash flow and the long-term appreciation potential in a prime San Francisco corridor. Through diligent follow-through and a collaborative approach, Matthews™ secured top-of-market pricing for the seller and established an ongoing relationship with the buyer, who is now leveraging the firm’s platform to identify additional acquisitions and complete his 1031 exchange.

 

“This transaction highlights the strength of the San Francisco multifamily market, attracting robust investor interest and premium pricing for quality assets. Our targeted marketing and strong relationships allowed us to generate multiple competitive offers and secure an optimal outcome for our client, supporting their 1031 exchange and broader portfolio strategy,” Hoggatt said.

 

For more information, please contact Jack Markey, Jake Hoggatt, and Chuck Evans, or visit www.matthews.com.

 

About Matthews™

Matthews™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 1,000 agents and employees in 30 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.