UPDATE 1-Hearst may sell SF chronicle building, land

(Adds Hearst comment, updates headline and first paragraph to change sourcing)

NEW YORK Oct 25 (Reuters) - Privately held publisher Hearst Corp is considering options such as selling the San Francisco Chronicle building and nearby properties, a Hearst executive said on Thursday.

"We are examining our options for our San Francisco real estate holdings," said Stephen Hearst, vice president and general manager of San Francisco Realties, Hearst Corp's West Coast land management unit.

"It could be a joint venture," he said. "Or there may be some people who are going to offer to buy it."

The land, excluding buildings, was assessed at $28.14 million, according to county records cited by the Chronicle. Hearst declined to comment on the land value.

Hearst said the company would move the Chronicle's headquarters in the city's SoMa district to a new location if it decides to sell the building and the land.

"If we embrace a plan, [we would] come away with the Chronicle being relocated in San Francisco at an appropriate site for a first-class, state-of-the-art newspaper facility," Hearst told Reuters.

Hearst Corp is in talks with four developers regarding its property, he added. Hearst declined to name them but said they are among the top names doing business in San Francisco.

The Chronicle earlier on Thursday reported that Hearst is considering the sale to take advantage of rising real estate values as the area, south of the city's main thoroughfare, Market Street, undergoes rapid redevelopment.

Separately, Hearst is buying daily papers The Advocate and Greenwich Time in Connecticut from Tribune Co TRB.N for $62.4 million, Tribune said on Thursday. (Reporting by Robert MacMillan, editing by Brian Moss)