A recently listed house in San Francisco’s Duboce Triangle promises “the perfect backdrop for your new life” — one that “will redefine how you live.” The property in question is 160 Noe St.: a fully renovated 1907 Edwardian on a tree-lined slow street featuring three bedrooms, two bathrooms and 2,495 square feet full of Calacatta marble, designer lighting and custom woodwork. Listed for $2,995,000, the home has another standout characteristic.

The seller will consider Anthropic or OpenAI stock as payment.

That single line in an otherwise typical luxury listing may be the most succinct summary of what’s been going on in San Francisco for the past two years. It’s hard to believe that just a few years ago, the city’s obituary was being written in real time. Office vacancies soared. Retailers fled downtown. Then, of course, there was the doom loop. 

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Now, with the artificial intelligence industry clustering its offices and workforce in a city strapped for housing, the pressure on rents and home prices has been palpable and far-reaching. The effects of the shift aren’t staying in the city, either; they’re fanning out across the Bay Area.

View of Telegraph Hill and Coit Tower in San Francisco, Nov. 18, 2024.

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It’s been a marked and sudden turnaround. Here’s what the people watching it closely are actually seeing.

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