Racked is no longer publishing. Thank you to everyone who read our work over the years. The archives will remain available here; for new stories, head over to Vox.com, where our staff is covering consumer culture for The Goods by Vox. You can also see what we’re up to by signing up here.
The Union Square building that is home to the current Apple store sold for nearly $50 million, which amounts to a record-breaking $3,000 per square foot. New York-based Ashkenazy also shelled out nearly as much (at $2,500 per square foot) for another building around the corner, home to Gucci, Lacoste and Vera Wang. With these numbers, Union Square is on par with NYC's Manhattan and LA's Rodeo Drive, which says a lot about the current retail demand in SF. [San Francisco Business Times]