His name is Mark Sackett and he owns a building in the troubled San Francisco neighborhood known as SoMa. The building is home to three different businesses including an antique shop and a venue for events called The Box SF. But Sackett is about to lose everything because he can’t find anyone willing to refinance his loan. The banks say they aren’t lending because the city is such a mess.
His building at 1069 Howard St. is scheduled to be auctioned on Jan. 24 “at a massive loss,” and he expects all his businesses will be forced to close. Antiques dating back to the 1800s, such as books and engraving plates, could be sold off in an estate auction, he said.
Sackett blames widespread drug use, violence and filthy streets in the neighborhood for his inability to address his loan. Since the pandemic, the area has fallen to the worst condition Sackett has ever experienced.
He said 30 lenders have declined to help him refinance. About six of them have said they “are not making commercial real estate loans in San Francisco due to the state of the city,” he said.
Meanwhile, he also has trouble attracting clients because of concern the area is not safe. During the recent Asia-Pacific Economic Cooperation summit two different consulates visiting the city declined to hold events at his site because of safety concerns.
One of the specific problems Sackett points to is the city’s decision to open a “drug sobering center” next to his building. The walk-in center was opened last year.
San Francisco will open a drug sobering center Monday where people on the street can temporarily ride out highs and could get connected to treatment, the latest initiative to address the overdose crisis and complaints about drug use on city streets.
The center, called SoMa RISE, will operate out of a former office building the city is leasing at 1076 Howard St. in the South of Market neighborhood, one of the epicenters of the drug crisis, along with the Tenderloin.
The space will have room for around 20 people from the Tenderloin and SoMa, who are expected to stay between four and 12 hours, longer if necessary.
According to Sackett it’s not just sobering that is happening at the new drug center. He routinely has people using fentanyl in front of his building. His staff had to pepper spray four people who tried to break in. His building currently has one broken window which will cost him around $4,000 to replace.
Sackett has made calls to the city asking for help but he tells the Chronicle they don’t even return his calls. “They care about bike lanes, nonprofits, safe injection sites. … They have just ignored
small business,” he said.
“I’m just done with San Francisco and the bulls— here,” he said. “It’s out of control.”
Obviously he’s not the only business owner in the city who is struggling with street conditions. Lots of businesses have already closed.
Here’s a promotional video for his businesses created about a year ago.
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