Ritz-Carlton Residence Goes To Auction: Originally $1,825,000, Now $600,000*

Ritz-Carlton residence number 1502, a 2 bed, 2.5 bath, 1195 square foot condominium, originally listed for $1,825,000 back in 2008 is going to auction on December 10th…and there is no minimum bid. The current list price is $949,905, and as the spam asks, “WILL YOU BE KICKING YOURSELF IF THIS RITZ-CARLTON CONDO SELLS FOR ONLY $600,000?”

Good Lord! If it sells for $600,000 we’re all f*cked…pardon our French. Of course, if you’re a buyer, you’ll be thrilled.

-SanFranRitzAuction.com
-Current MLS information
*The asterisk in the title clearly relates to the email we received and does not indicate the property sold at $600,000…although it could.

Frank Norris Place…an update

Provided by: Amanda Jones of Vanguard Properties

franknorrislivingroom.jpg

They have sold 10% of the units in 2 weeks. They have 3 other offer
packages out on the project [Editor's note: probably more now, we're slow to print], 15 of the 32 homes are under $500,000. The building was designed by the same architect of The Palms and 3208 Pierce Street. Many of the units have floor to ceiling windows and or views.

There is NO age restriction for purchasing these homes. However, the homes are designated by occupancy by at least one person 55 years or older. (Translation: Someone 55+ needs to live there, but the person on title can be 25… one could rent it out to a 55+ person…)

[Editor's note: As it seems many, many baby boomers are down-sizing and testing out the urban life (think One Rincon Hill, The Infinity), all you young professionals might consider paying your parents back for all that money they spent on your beer and college tuition by offering them free room and board in a world class city. Just a thought.

Frank Norris Place is located at 81 Frank Norris St. in the "Upperloin", (Van Ness/Civic Center/Downtown), units are either 1 bedroom, 1 bath, or 1 bedroom + study, 1 bath, pricing for some (we saw one) as low as $399,000 (came on 4/12 and is already pending), the others hovering around $500,000. Parking is an additional $50,000/space.]

-Frank Norris Place [website]
-IB+A [Architects]
-More New Development Articles [sfn BLOG]