SAN FRANCISCO – One of San Francisco’s most enduring restaurants, One Market, is closing next month after 32 years at the foot of Market Street. Known for its contemporary American cuisine, the restaurant was a longtime go-to for business lunches, dinners, and celebrations in the city’s Financial District.
On its front door now hangs a sign: “Thank you, San Francisco: After 32 years anchoring the foot of Market Street in San Francisco, One Market Restaurant will be reaching retirement on June 11, 2025. Until then, it’s lunch, dinner, all-day happy hour, and private events Monday through Friday… Thank you for your friendship and patronage for more than 3,000,000 meals, and smiles, over the years. We may be moving on, but we truly are leaving our hearts in San Francisco.” A letter was also sent to guests.
Michael Dellar co-founded the contemporary American restaurant in 1993 – the same year it was named Best New Restaurant by the San Francisco Examiner.
It later earned a Michelin star from 2008 to 2012.
The decision to close came down to a mix of personal and business factors for Dellar.
‘Very different’ after the pandemic
The restaurant once boasted up to 1,000 covers a day across breakfast, lunch, and dinner in its early years. Before the pandemic, it averaged a few hundred. Today, it serves just under 100 guests daily – not including private event bookings.
“Those five years since the pandemic have been very different,” said Dellar. “As we know, people didn’t come back, work schedules changed, tenants moved away, and the robust nature that was the Financial District pre-COVID is different now. Is it going to come back? It probably will. But I looked at being 80 soon.”
Dellar said his planned retirement played a role and efforts to sell the restaurant didn’t work out. He announced the closure to staff recently.
“I was choked up, as I knew I would be,” he said. “But I feel that this is a great opportunity for the next iteration of what this wonderful space is.”
Regulars reflect on memories
Jay Lyon, a longtime customer, said the closure will leave a personal impact.
“It will be a loss… I will regret this and think about dishes that I enjoyed and people that I’ve befriended,” Lyon said.
Kevin Barry recalled scoring a coveted table the year One Market opened – on a very memorable night.
“It was my wife and my first date,” Barry said. “We sat in the window right over there, it was amazing. I lived in the Marina and my neighbor was the manager, so I called her up and I said I need dinner reservations. It was a hot ticket then.”
Others noted the broader changes in the neighborhood over the past few years.
“It’s not the same for sure, definitely after – you know, I was born and raised here,” said Norma Deleon of Vallejo. “So I get to see the difference from back in the day until now. I know it’s sad because a lot of businesses had to leave.”
One Market will remain open through June 11. Dellar said the restaurant has seen a significant uptick in reservations since announcing its closure.
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