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Transfer tax could expedite S.F. building sales

From the San Francisco Business Times:

 

San Francisco could see a spate of commercial real estate sales over the next month as investors rush to unload properties before a significant new transfer tax increase kicks in on Dec. 17.

On Nov. 2, San Francisco voters approved a transfer tax increase from 1.5 percent to 2.5 percent for properties sold over $10 million. For deals between $5 million and $10 million, the tax will bump up half a percentage point, from 1.5 percent to 2 percent. While the increase is probably not enough to make or break a deal, it’s certainly an incentive to move a bit ...