SAN FRANCISCO SCOOP: Honda's New Life Revealed
We found out who's taking over the Honda dealership at Market and South Van Ness: Crescent Heights. The triangular dealership (pictured right) has been marketed by Eastdil for a few months. The new housing project would add a couple hundred more units in mid-Market, sources tell us. Crescent Heights planted a flag in the up-and-coming neighborhood a few years back, building the mammoth luxury complex known as NEMA next to Twitter. We hear the Honda site could be almost as big (up to 700 units). In the '70s, the Boas family (the sellers) opened the Honda shop in a building that had former lives as a Buick dealership and the Fillmore West auditorium. We're hearing the sales price was around $50M.
Here's Crescent Heights principal Bruce Menin on the November night he flew in for the 450-person christening of NEMA, which has four residential towers, three landscaped terraces, a 7,000 SF gym, and a heated saline pool. (No resident has ever left the building.) Crescent Heights has no comment in regards to the Honda site, sized at about 50k SF. Eastdil did not respond to a request for comment. Sources tell us several other big deals are about to be announced at the busy intersection. One we just found out about is the for-sale Goodwill site, which is under contract to Related (aka the massive resi developer behind the celeb-infused luxury condos, The Century, in LA).
