The onetime Hibernia Bank turned Social Security office at 1098 Valencia Street went up for sale in October asking $9.9 million. It didn’t take long for someone to take a run on the offer. Realtor Jordan Geller confirms the sale, telling Curbed SF the final price came out to more than $11.89 million
The building will continue to serve as the local Social Security office until July of 2022. Soon thereafter, the federal government has no option to renew its lease, presumably opening up the historically significant 1924 building and its more recent, attached neighboring building to lucrative development opportunities.