Union Square Commercial Buildings Sold for $15.4 Million
The investment firm Project Uris added 165 Post St. and 47 Kearny St. to its portfolio in late October.
Updated on Oct. 28, 2026 in Commercial
Live Poll
Do you believe your local retail district is on the path to a long-term recovery?
Commercial real estate investors Ian Jacobs and Max Raskin have expanded their footprint in Union Square with the purchase of two additional buildings. Through their investment vehicle Project Uris, the pair acquired 165 Post St. and 47 Kearny St. for a combined $15.4 million.
Why it matters
The acquisition marks a continued bet by Project Uris on the post-pandemic retail recovery of Union Square. Founders aim to revitalize properties previously held by long-term owners, banking on a projected halo effect from surrounding luxury investments.
Project Uris has now invested $46 million out of an initial $75 million fund to acquire seven buildings across San Francisco. Whether the firm will fully deploy the remaining $29 million in capital toward further local retail acquisitions remains unknown.
The players
Ian Jacobs
Co-founder of the investment vehicle Project Uris, which focuses on acquiring undervalued commercial properties in San Francisco.
Max Raskin
Co-founder of Project Uris and a member of the board of Golden Gate University as of 2026.
Project Uris
An investment firm that has acquired seven buildings in Union Square and surrounding retail corridors.
The details
The firm, founded in 2023, targets buildings featuring ground-floor retail and office space above, specifically purchasing from heirs of long-term owners. This latest transaction follows a series of recent buys, including properties on Maiden Lane and Grant Avenue. The firm previously acquired seven buildings total across five corridors to stabilize and reposition assets in the district.
Timeline
2023: Ian Jacobs and Max Raskin founded Project Uris.
May 2026: Project Uris purchased a building on Maiden Lane.
July 2026: Project Uris purchased a building on Grant Avenue.
October 26, 2026: Project Uris closed on the acquisition of 165 Post St. and 47 Kearny St.
Across the Bay
Project Uris follows the precedent set by the 1970s Reichmann family real estate strategy in New York City, utilizing similar methods to acquire and consolidate undervalued urban assets. The investment firm is targeting a revitalization of local retail corridors using a model based on long-term property accumulation.
Residents near Post and Kearny streets may see upcoming renovations as the new owners begin their property management strategy. These changes follow a broader trend of shifting retail ownership in the heart of Union Square.
The takeaway
Union Square is undergoing a consolidation of retail property ownership that aims to counter recent economic declines. Watch for upcoming announcements regarding new ground-floor retail tenants at the newly acquired sites on Post and Kearny streets.
Further reading
For more on the changing landscape of local storefronts, see Commercial.
Source note: This article includes information reported by The San Francisco Standard.
Live Poll
Do you believe your local retail district is on the path to a long-term recovery?
