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Business

Lucca Ravioli Co. slated to close so old San Francisco family depends on real estate




"It's very important that the marketing photos make the devices look good," the tenants said in a letter


The building on the corner of the 22nd and Valencia Streets that houses Lucca Ravioli Co., the last commercial outpost of a family that has done Business in San Francisco for nearly 100 years, seems to be ready for sale.

No, not the parking lot next door that already sold for around $ 3 million in October – the actual building where ravioli magic has happened since 1925.

That's not all: The six-unit apartment next to 1[ads1]102-1106 Valencia, which the Feno family also owns, is apparently also for sale.

Homeowners in both buildings received a letter in the middle -December says representatives of the commercial real estate company NAI Northern California – along with Lucca's owner, Michael Feno – were going through their apartments for inspections and pictures. Their places, the letter said, must be "clean without personal belongings strewn about."

"These are marketing pictures," the letter reader. "It's very important that the marketing photos make the devices look good."

Of course, this raises the question of whether these rents will be shooed out of their places to increase the value of the buildings. Tenants, who refused to be interviewed for this play, discuss their choices.

A Lucca employee confirmed that the delicacy will close in spring 2019.

Feno, Lucca's proprietor, did not return our inquiries. But he told us that through his deli he tried to "take care of the working class."

Zillow estimates the Lucca's building to be worth about $ 2.3 million, while the apartment house next door could go up $ 4 million, Zillow estimates.

Two doors down, plans are to work to develop the parking lot for a five-story, 18-storey residential building, perhaps Valencia's first Ravioli tower . "

By unloading the entire property on the block, the Feno family looks like a legacy started by its great uncle, Francesco Stanghellini, 93 years ago. With San Francisco real estate agent selling, some of the older ones The owners who cash in.

The family that started 24th Street famous La Victoria Bakery in 1951 sold its building in November for "about $ 3 million, sparking uproar and some controversy .

The building located in Siegel's Superstore near 19th and Mission streets was marketed for $ 6.5 million in September last year, and was eventually snapped up, the closure of the 91-year-old business fell [19659022].



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