Burning Man Headquarters Building in San Fran just sold at 90% discount from 2016

The 955 Market Street building that was once home to Burning Man headquarters, and then a whole bunch of WeWork offices, is now empty and just sold for a measly 10% of the price it fetched in 2016.

Let’s look back to the days of 2016, when the 16-story office building at 995 Market Street was on the market for sale, drawing the San Francisco Business Times headline “WeWork’s Mid-Market landlords prepare to cash in.” The Burning Man office headquarters called Black Rock LLC had once been a tenant, as was the Eviction Defense Collaborative, but WeWork had pretty much taken over the whole building. And the place ended up selling for $62 million in 2016, with marketing materials from 2015 (seen below) calling it “San Francisco's most sought after and dynamic submarket.”