The residential units are located on the top 17 floors of 88Howard St., which consists of twin 23-story towers connected by acentral lobby adjacent to the Ferry Building and the Embarcadero.Beacon Capital continues to own the first six floors, which house470,000 sf of office space and 60,000 sf of retail, as well as theadjacent renovated historic US Post Office facility, which standsfive stories tall.
When Capital Properties acquired the residential component, themix included 194 market-rate apartments, 50 furnished corporateapartments being operated by a third party, and 76below-market-rate apartments that must remain so. At the time, asource with Capital Partners told GlobeSt.com that its plan was toincrease the number of corporate apartments to 70, reposition themas luxury accommodations and self manage the units.
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