In The News

Upper Market residential towers ready for 2021 opening

The Oak comprises two 12-story towers connected with a glass skybridge with 109 condos.

By Ted Andersen  – Digital Editor, San Francisco Business TimesJan 8, 2021, 3:03pm PST Updated Jan 8, 2021, 4:04pm PST

A glut of new condos is expected to come to market this April culminating a development that’s been in the works for several years.

The Oak, located at 1554 Market St. in the Upper Market neighborhood, will feature 109 condos priced between $600,000 and $2 million that range from 500 to 1,750 square feet. Foster City-based Z&L Properties, which bought the site in 2015 for $23 million from Trumark Urban, had begun work at the site by 2018.

The development, designed by Handel Architects — a New York firm with offices in San Francisco — involves two 12-story towers with a shared courtyard connected by a sky bridge.

The project’s website — theoaksf.com — is scheduled to launch this month.

A rendering of The Oak, which will begin sales in spring.

The development includes underground parking and also will have a zen garden, fitness center, lounge, bike parking and a staffed lobby.

All of the residences are condos, not apartments, and there are 13 “affordable” homes. Most of the condos have balconies and floor-to-ceiling windows. There is also one three-bedroom penthouse residence on the top floor.

Compass Development Marketing Group is the sales team.

In 2019, Z&L Properties reportedly received $76.8 million in financing to complete construction on the site.


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