These properties are among the most iconic in San Francisco, but what they also have in common is their owners are applying for dramatic cuts in their assessed values in a worrying sign for the city’s fiscal health.
At Chase Center, property owners are attempting to cut the city’s assessed $1.48 billion value for the stadium by some 58% to $635 million.
The owner of the Transamerica Pyramid, New York developer Shvo, which purchased the building in 2020, is seeking a 53% reduction in its assessed value from $485.5 million to $227 million.
The Westin St. Francis Hotel owners are applying for a more than 90% decrease in its assessed value of $787 million all the way down to $76 million.