A historic colonnaded bank building at the corner of Sutter and Sansome Streets, near BART’s Montgomery station in the Financial District, is about to begin a new chapter in its long 112-year history. The Parker Pacific Group owns the former bank building along with the 42-story tower attached behind it, collectively called One Sansome. The group is now planning to pump $20 million into renovations that will transform the elegant lobby space into a restaurant, bar and special events venue for 2,000 guests. It will be called Holbrook House and is the name of the previous building that stood on the property before the construction of the tower portion.
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Phil Spiegel, known for his work at the nearby Merchants Exchange Club and the Julia Morgan Ballroom, is leading the efforts to establish Holbrook House. He told the SF Chronicle that passing by the restaurant would be “as if you’re looking at Gatsby Palace, and there’s a party going on and you’re wondering what’s going on. And you’re looking through, you see this beautiful space, and you see action, and it’s fun, it’s active.”
Submission with permission from DES Architects & Engineers / Barker Pacific Group
The goal is to have Holbrook House serve up quality American food and cocktails by early next year. “We embrace the Financial District. It will be the place where people drink martinis, sip champagne and feel good about it. We want the restaurant and bar to fit in with the luxury of the building,” Spiegel told the Chronicle. The team also bets on event space and believes that there is a thirst for companies who want to hold large business parties and events without a hotel atmosphere.
Things are looking up for the sign, too. Parker Pacific Group bought the building in 2010 when it was in foreclosure. By 2015, after $100 million in upgrades, the building was completely filled with office space tenants, but that changed after the coronavirus outbreak. One example is Citibank, which is still the main tenant but vacated its five floors during the pandemic. Now, 88% of the building is said to have already been filled after six tenants signed leases this year alone. “We’ve had some rough times, we’ve had some boom times. And I think the upside is coming,” Michael Parker of Parker Pacific Group told the Chronicle.
For Holbrook House, an early 2023 opening is expected to create 40 full-time jobs. We don’t know much yet about the menu, but it is expected to cater to the crowds for breakfast, lunch and dinner, and is likely to hold happy hours. More details should start emerging as we approach the end of the year.