The Otis
Seventy-six for-sale residences from the adaptive reuse of 2300 Stockton Street, on San Francisco’s North Waterfront.
A proposed office-to-residential conversion at the meeting point of Fisherman’s Wharf, North Beach and Russian Hill. Anantara Capital is assisting with the capital raise. For accredited investors, with a $250,000 minimum investment.
A new chapter for an existing San Francisco asset.
Basis
The sponsor’s plan combines the reuse of an existing structure with two new residential floors. The investment thesis rests on the acquisition basis, conversion economics and projected condominium sales. Detailed budgets, assumptions and sensitivities are part of investor diligence.
Supply
The sponsor targets completion in 2028 and believes a constrained new-housing pipeline could support demand. Sales prices, absorption and competing supply remain market risks; the target schedule and investment outcome are not assured.
Path
The proposed plan uses the Commercial-to-Residential Adaptive Reuse Program and the Family Zoning Plan. According to the August 2026 roadmap, eligibility was confirmed with SF Planning. Entitlement and permits remain outstanding. Planning submittal is targeted for September 2026.
An established address. A considered residential transformation.
The former Otis Elevator Company building is planned to become 57 townhomes and flats within the existing structure, with 19 family residences and penthouses across two new floors. The proposed program includes one parking space per residence and remains subject to approvals.
| Floor | Product | Homes | Avg sf |
|---|---|---|---|
| 5 | Penthouses · new vertical | 6 | 1,992 |
| 4 | Family residences · new vertical | 13 | 1,650 |
| 2–3 | Courtyard and view flats · conversion | 46 | 826 |
| 1 | Townhomes · conversion | 11 | 900 |
Terms at a glance.
A single-asset limited partner investment in Stockton Development LLC, the entity that owns 2300 Stockton Street. Request an introduction to discuss the available investment materials. Final offering documents govern the investment.
Common equity alongside sponsor and mezzanine capital, with proposed senior construction financing at 70 percent of cost.
Accredited investors only, under Regulation D Rule 506(c). Verification is required before subscription documents are released.
Return of capital first, then a 12 percent simple, non-compounding preferred return, then profits split 50/50 with the Manager. Not guaranteed.
Target distributions as homes sell, with sell-out projected for 2028. Sponsor capital is recovered only from the Manager’s share of profits, behind investors.
Project status and target milestones.
Acquisition closed
May 8, 2026Program eligibility confirmed
Adaptive Reuse + Family ZoningHistoric evaluation complete
Evaluation concludes not historic; city determination pendingPlanning submittal
Target end of Sep 2026Entitlement approval
Target Q4 2026Permit, build, sell out
RTI Q2 2027 · CO mid-2028 · sold out Dec 2028A clear path to informed diligence.
Begin with an introduction, then review available sponsor materials. Access to final offering and subscription documents is subject to eligibility and document availability.
Project overview
- Address, program and timeline
- Investment thesis and offering structure
- Milestones as they are reached
Investor overview
- Investment presentation and sell-out schedule
- Entitlement roadmap and team track record
- Financial assumptions and investment risks
Offering documents
- Private placement memorandum and operating agreement
- LP financial model, appraisal and full data room
- Subscription documents
Specialists in San Francisco development.
Development, design, construction and land-use expertise, brought together for The Otis.
The Otis is developed by Ocean Avenue Realty Fund as sponsor and managing partner, with Brown Real Estate Group as co-general partner. Anantara Capital is assisting with the capital raise and is the point of contact for prospective investor enquiries.
Discuss The Otis with us.
Interested in the project? Request a 20-minute introductory call with Anantara Capital to discuss the opportunity, ask questions, and explore whether it fits your investment interests. Calls are 20 minutes, between 7 a.m. and 7 p.m. Pacific Time, with at least 48 hours’ notice. Choose your time zone first, then request a date and time. We check your requested time privately and confirm it by email. No calendar availability is displayed.
contact@anantaracapital.com