At Modern Luxury, connection and community define who we are. We use cookies to improve the Modern Luxury experience - to personalize content and ads, to provide social media features and to analyze our traffic. We also may share information about your use of our site with our social media, advertising and analytics partners. We take your privacy seriously and want you to be aware that we have recently made changes to our Privacy Policy, which can be found here.

I AGREE
    

An Entire Block of Oakland Is for Sale

Scott Lucas | September 16, 2014 | Story Real Estate

There's real estate deals, and then they are real estate deals. An entire block of Oakland is currently for sale. We know it's an over-heated market and all, but whoa. That's massive.

The San Francisco Business Times passes along the details. Over decades, one family-owned real estate company, Valva Realty, slowly bought up all the parcels of land surrounding its offices. Now, after the last of the second-generation owners died, the family is looking to offload it. It's likely that apartment housing will go in there.

The real estate is located in an area of downtown Oakland bounded by 14th and 15th Streets and Castro Street and Martin Luther King Jr. Way. It's right by the 980 freeway, city hall, and the 19th Street BART Station. In other words: primo.

Still, the news has us scratching our heads just a little bit. Because the rules say that once you buy up all the properties in a block, you get to build houses and then a hotel there. You're not supposed to sell once you get a monopoly.

Have feedback? Email us at letterssf@sanfranmag.com
Email Scott Lucas at slucas@modernluxury.com
Follow us on Twitter @sanfranmag
Follow Scott Lucas on Twitter @ScottLucas86



Tags:

Photography by: