The abandoned Hibernia Bank building in the Tenderloin has been sold for $3.95 million, according to the listing broker, Stanley Lo.

The deal will transfer the building as is to a San Francisco-based commercial development and construction business, Lo said.

The building was listed at $4 million but the price was dropped for a cash deal, Lo said.

The landmark building was built in 1892. Lo said the former owner of the building wanted to sell the property as is because of the state of disrepair it is in.