by Kevin Truong : sfstandard – excerpt
The value of one of Downtown San Francisco’s largest luxury apartment buildings has been cut nearly in half, according to commercial real estate data provider Trepp.
NEMA, the glass-covered tower at 8 10th St., has seen its value drop from $543.6 million in 2018 to $279 million. Trepp notes that this decline means the value sits well below the loan balance, making the debt more expensive than the property itself.
The Real Deal first reported the news…(more)