You’ve probably walked past it if you’ve spent any time at all near the Montgomery Street BART station. 49 Stevenson Street San Francisco isn't exactly the Salesforce Tower. It doesn't have a glowing crown that changes colors based on the weather or a public park floating stories above the pavement. Instead, it’s one of those quintessential "old meets new" buildings that defines the Financial District’s back alleys.
It's tucked away.
If you’re looking for it, you’re usually looking for a workspace. This isn't a tourist destination. It’s a place where things actually get done, or at least, where the people trying to build the next big thing in AI or fintech hunker down with their laptops. But in a city where office vacancies are a constant headline, what’s the real deal with this specific address?
The Vibe of Stevenson Street
Stevenson is more of an alley than a grand boulevard. It’s narrow. It feels like the "old" San Francisco—the one with brick and grit—right in the shadow of the glass giants. 49 Stevenson Street sits in this weirdly perfect spot. You're seconds away from the hustle of Market Street, but it feels secluded.
People often confuse this area. Is it SoMa? Is it FiDi? It’s basically the borderlands.
The building itself is an 11-story mid-rise. It’s got that classic 1920s architecture—originally built around 1921—but the inside has been gutted and polished more times than most people realize. When you walk in, you aren't greeted by a cold, marble lobby that feels like a bank vault. It’s got a bit more character. It’s the kind of place where a boutique VC firm or a growing software team feels at home because it doesn’t feel like they’re "selling out" to a corporate cubicle farm.
Who is actually at 49 Stevenson Street?
Flexibility is the name of the game here. For a long time, the heavy hitter in the building has been WeWork.
Yeah, I know. We’ve all heard the stories about WeWork’s rollercoaster ride through bankruptcy and restructuring. But honestly? The 49 Stevenson location remained a bit of a staple. It’s spread across several floors—the third, fourth, and fifth, usually—and it serves a very specific crowd. You aren't seeing the massive enterprise teams here that you might see at their Salesforce Tower location. This is for the "scrappy" set.
Think about the local ecosystem. You’ve got the Palace Hotel right nearby. You’ve got the shops at Montgomery. It makes sense for a satellite office.
But it’s not just co-working. The building is managed by groups like Lincoln Property Company, and they’ve been trying to keep it relevant in a post-2020 world. They focus on the "plug-and-play" aspect. In San Francisco right now, if an office building doesn’t have fiber internet, bike storage, and a decent shower for the commuters who bike in from the Mission, it’s basically dead in the water. 49 Stevenson has managed to keep its head above that water by leaning into those amenities.
The Reality of the Market
Let’s be real for a second. San Francisco’s commercial real estate market is... complicated. Some call it a "doom loop," while others see it as a massive clearance sale for the next generation of founders.
49 Stevenson Street San Francisco is a litmus test for the mid-size office market. The massive towers can afford to sit half-empty because they have institutional backing that lasts decades. The smaller buildings have to fight harder.
The rents here aren't what they were in 2018. Back then, you’d be lucky to find a desk. Now? There's leverage for the tenant. If you’re a startup founder looking for a "Class B" building with "Class A" vibes, this is the sector you’re hunting in. You’re looking for those exposed ceilings and that industrial-chic look that says, "We have venture capital, but we aren't wasting it on gold-plated faucets."
Why Location Still Wins (Despite Remote Work)
You can work from a coffee shop in the Sunset or a home office in Marin. Why come to Stevenson?
It’s the "transit-oriented development" factor.
- BART and MUNI: You are literally steps from the entrance. If your team is split between the East Bay and the City, this is the compromise.
- The Food: This is underrated. You’re right by Leo’s Oyster Bar and the various hidden gems in the alleys around New Montgomery.
- Networking: You walk out of 49 Stevenson and you’re in the thick of it. You bump into people. That’s the "serendipity" that VCs keep talking about, even if it feels a bit like a cliché.
There’s a specific energy to this part of town on a Tuesday at 10:00 AM. It’s not the frantic energy of 2015, but it’s a focused one. The people here are the ones who want to be in the office. They aren't being dragged there by a corporate mandate as much as they are there to collaborate.
Small Details That Matter
The building has some quirks. Because it’s an older structure, the floor plates aren't massive. This is actually a benefit for smaller companies. You can take an entire floor and actually feel like you "own" the space, rather than being tucked into a corner of a floor the size of a football field.
The windows actually open. You’d be surprised how many modern San Francisco offices are sealed shut like a pressurized cabin. Being able to get a breeze off the bay—even if it’s a small one—matters when you’re grinding on a project.
The security is there, but it’s not oppressive. You get that "neighborhood" feel. You know the folks at the front desk.
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The Future of 49 Stevenson
What happens next?
San Francisco is currently rebranding itself as the AI Capital of the World. We’re seeing a shift from the "app for everything" era to the "model for everything" era. These AI companies don't need 200,000 square feet on day one. They need 5,000 square feet where they can put eight GPUs and ten engineers and work until midnight.
49 Stevenson is positioned perfectly for that "bridge" phase. It’s the middle ground between a garage and a skyscraper.
Is it perfect? No. The surrounding area still deals with the same urban challenges every major city faces—cleanliness issues, the occasional "big city" noise, and the high cost of a decent sandwich. But for a business that needs to be in the heart of the action without paying Salesforce prices, it’s a survivor.
Actionable Steps for Navigating This Area
If you're considering 49 Stevenson Street for your business or just visiting for a meeting, here is the ground-level intel you actually need.
- Check the WeWork Status: If you're looking for a short-term desk, don't just show up. Use the app to check availability for the "49 Stevenson" location specifically, as floor access can change based on current leasing agreements.
- Commute Smart: Don't try to park a car here. Seriously. Between the bike lanes and the lack of cheap garages, you’ll spend more on parking than on lunch. Use the Montgomery Street BART station—it's a two-minute walk.
- Lunch Logistics: Head over to Sentinel for a sandwich if you want the local experience, but get there before the noon rush or you’ll be standing on the sidewalk for twenty minutes.
- Lease Negotiations: If you are looking at office space here, push for "tenant improvements." Since it's a competitive market for landlords, they are often willing to modernize the lighting or flooring to get a multi-year commitment.
- Check the Fiber: Before signing anything, verify the specific ISP options for your floor. While most of the building is modernized, some of the older suites might need an update to handle high-bandwidth AI workloads.
49 Stevenson Street San Francisco represents the resiliency of the city’s core. It isn't flashy, it isn't new, and it isn't trying to be something it’s not. It’s just a solid, well-located place to build something. In the current market, that’s more than enough.