Back in March, KRON-TV Studios at 1001 Van Ness hit the market asking $25 million. The 25,000 square foot property has now sold for a reported $26 million to a new developer, Oryx Partners, that plans to redevelop the site into new housing. The studio lot is zoned for up to 200 housing units and plans are to create a mid-rise complex after demolishing the current structure. The developer was attracted to the site’s location because it is a block away from the new $2 billion California Pacific Medical Center that will soon rise on the site of the old Cathedral Hill/Jack Tar Hotel.
Much of the action around Van Ness in the past few weeks has focused on the section around mid-Market, but Central Van Ness is also a new housing hotspot. The Marlow at 1800 Van Ness was wildly popular and other upcoming developments in the area include 1533 Pine Street, 1285 Sutter and a proposed condo building at 1688 Pine. KRON will move its studios down to a smaller space on Front Street by the end of this year.