Walk out of the Montgomery Street BART station, look up, and you’ll see it. 33 New Montgomery Street San Francisco isn't the tallest building in the skyline, not by a long shot. It doesn't have the Salesforce Tower's glowing crown or the Transamerica Pyramid’s aggressive geometry. But honestly? It’s arguably more important for the "real" San Francisco business scene.
It’s a 20-story clock tower building that sits right at the intersection of history and whatever we're calling the current tech-heavy economy.
People usually just pass it by on their way to a meeting. That’s a mistake. If you want to understand how San Francisco real estate actually functions—how it survives crashes and pivots during AI booms—you have to look at buildings like this.
The Weird, Layered History of 33 New Montgomery Street San Francisco
The building was originally finished back in 1914. Think about that for a second. It survived the massive shifts in urban planning that followed the 1906 quake and managed to maintain its Class A status for over a century. That doesn't happen by accident. It takes constant, expensive evolution.
In the early 1900s, this was the heart of the city's expansion. It was built with this terra cotta facade that still looks incredibly sharp today. When you stand at the base and look up, you see the clock. It’s iconic. It’s one of those "if these walls could talk" situations, having housed everything from traditional law firms to the kind of high-growth tech startups that basically run on caffeine and venture capital.
The building underwent a massive renovation around 2006. They didn't just paint the walls. They gutted the systems. We’re talking about a total seismic retrofit and an overhaul of the HVAC and electrical systems. You need that. You can't run a modern high-frequency trading firm or a data-heavy AI lab on 1914 wiring.
Why the Location is Actually a Competitive Advantage
Location is a cliche in real estate, but 33 New Montgomery Street San Francisco earns the trope. It’s tucked right behind the Palace Hotel.
Most people don't realize how much of a "power corner" this is. You are steps from Market Street. You have the Second Street corridor—which is basically the "Silicon Valley North" headquarters for companies like LinkedIn and Slack—just a block away.
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- BART and MUNI: You are literally sixty seconds from the station entrance.
- The "Walk Score": It's a 99. You can't get much higher without living in the middle of a pedestrian mall.
- Proximity to Capital: The building is surrounded by the city's biggest banks and VC satellite offices.
If you’re a CEO, you want your employees to actually show up to the office. In a post-2020 world, that’s a struggle. But if the office is 33 New Montgomery, the commute isn't an excuse. It’s too easy to get to.
The Interior Reality: It's Not Your Typical Tech "Playground"
A lot of people expect every San Francisco office to have bean bags and ping pong tables. 33 New Montgomery is a bit more grown-up than that.
The floor plates are roughly 11,000 to 12,000 square feet. That’s "boutique" in the world of commercial real estate. It means a mid-sized company can take over an entire floor and actually feel like they own the space. You aren't sharing a floor with three other noisy startups.
The windows are huge. Because of the way the building is positioned, you get an incredible amount of natural light, which is something many of the deeper, blockier buildings on Market Street lack. Most of the spaces have been modernized with exposed ceilings—that "industrial chic" look that refuses to die—and high-end kitchens.
According to property data from sites like CompStak and JLL, the tenant mix here has historically leaned toward professional services, fintech, and creative agencies. Bitly had a presence here. So did various wealth management groups. It’s a mix of "old money" stability and "new money" ambition.
The Economic Resilience of the South of Market Edge
Let’s talk about the elephant in the room: the San Francisco office market. It’s been rough. We’ve seen record-high vacancy rates across the Financial District (FiDi) and SoMa.
But buildings like 33 New Montgomery Street San Francisco are "sticky."
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Why? Because they represent a middle ground. They aren't as prohibitively expensive as the top-tier floors of the Salesforce Tower, but they offer way more prestige and safety than some of the older, unrenovated buildings further down into SoMa.
Investors like Beacon Capital Partners, who have owned or managed the building in the past, understand this niche. They keep the amenities high—like the building's locker rooms and bike storage—because that’s what the modern workforce demands. If you want people to bike from the Mission or the Haight, you need a place for them to shower. It’s basic logistics, but it’s what keeps the building leased when others are sitting empty.
What Most People Get Wrong About This Spot
There’s a misconception that the Financial District is "dead" after 5:00 PM.
If you spend any time at 33 New Montgomery, you know that’s not true. Because it’s so close to the Palace Hotel and the shops on Yerba Buena, there’s a constant flow of humanity. You have the House of Shields across the street—a legendary bar that supposedly had a secret tunnel to the Palace Hotel during Prohibition.
You aren't just in an office building; you're in a neighborhood with layers.
Another thing people miss? The acoustics. Older buildings with thick walls and high-quality terra cotta often have better sound isolation than the glass-and-steel boxes built in the 80s. You can actually get work done here.
Actionable Insights for Businesses Considering the Space
If you’re looking at 33 New Montgomery Street San Francisco for your headquarters or a satellite office, keep these specific points in mind:
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1. Leverage the "Boutique" Factor
Don't just look at the rent per square foot. Look at the efficiency of the floor plan. Because the floor plates are smaller, you have a higher ratio of window-to-interior space. Every desk can be a "window desk," which is a massive boost for employee morale and retention.
2. Audit the Tech Infrastructure
While the building is historic, the fiber connectivity is top-tier. Always ask for the latest specs on the redundant power systems. For fintech or AI firms, the "up-time" history of the building's data systems is a non-negotiable metric.
3. Consider the "Third Spaces"
The lobby is impressive, but the real value is the immediate surroundings. Use the proximity to the Palace or the nearby coffee shops (like any of the dozen artisanal spots within a three-minute walk) as extended meeting rooms.
4. Watch the Lease Comps
The San Francisco market is currently a "tenant's market." This means you have more leverage than you did five years ago. Look for "TI" (Tenant Improvement) allowances. Owners of historic assets like this are often willing to fund significant build-outs to secure a long-term, stable tenant.
5. Visit at Different Times
Check the area at 8:00 AM, 1:00 PM, and 6:00 PM. You need to see the foot traffic patterns. You'll find that 33 New Montgomery stays vibrant longer than the deep FiDi blocks because it’s a transit nexus.
This building is a survivor. It represents the version of San Francisco that doesn't just chase the latest trend but builds a foundation that lasts through the inevitable cycles of the city's boom-and-bust economy. Whether you're an investor, a potential tenant, or just a fan of urban architecture, it's a landmark that deserves a second look.
To move forward with a space like this, your next step should be engaging a local tenant rep broker who specializes in "Class A Historic" properties. They can provide the specific "off-market" data on recent lease expirations within the building, giving you the upper hand in negotiations. Ensure you request a "full-building stack" to see who your neighbors would be—in a boutique building, the culture of the other tenants matters more than in a massive skyscraper.