The bankrupt owners of the Nob Hill Inn, a 21-room Edwardian timeshare and hotel atop San Francisco’s Nob Hill, have listed it for an undisclosed price. The owners’ assets are valued at $8.5 million.
Nob Hill Inn City Plan Owners, a homeowners association, listed the 116-year-old inn at 1000 Pine Street, the San Francisco Business Times reported. It has been closed since January.
A “super-majority” of the owning members voted to cease the building’s ongoing operations as a timeshare for vacation homes and rentals and will sell the property, according to the bankruptcy filings this month.
Built in 1907 as a private home, the three-story, 21-room getaway has billed its “ambiance of a turn-of-the-century townhouse,” according to its website.
It has large rooms, with windows looking onto Taylor Street, and comes furnished with antiques such as claw-foot bathtubs, carved wooden chairs and four-poster beds, plus modern furniture in keeping with the Edwardian style.
The Nob Hill Inn is near the historic Huntington Hotel at 1075 California Street, whose delinquent mortgage was acquired by Flynn Properties and Highgate Hotels in March for $56.2 million. New owners of the 135-room hotel aim to return it “to its original glory.”
The inn is also two blocks from the Stanford Court Hotel, now entertaining bids for a delinquent $108.2 million loan tied to the property.
Nob Hill Inn City Plan Owners lists assets of just over $8.5 million, with all but $250,000 attributed to the property, according to the bankruptcy filing. The group reports $222,858 in liabilities, mostly from a $150,000 Small Business Administration loan.
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Maven Commercial is marketing the property for sale. Santino DeRose, managing partner at Maven, said it could be a bed and breakfast, a tourist hotel, home for an educational group, or sold as long-term residences.
“At the end of the day it’s 20 rooms without occupants,” DeRose told the Business Times. “It’s a great location at the top of Nob Hill, and they’ve really maintained the vintage of the building.”
— Dana Bartholomew