On a side note; California property taxes are 1% of the selling price. So the state just had its revenue on this building cut in half. Also; everyone else in SF can claim a drop in property price and demand a reduction in tax as well.
Hmm, that could be interesting. I have to believe SF property appraiser's office will be very reluctant to reassess property values down. Property owners will likely have to fight like hell. Maybe even go to court.