According to a notice distributed by the developer of the San Francisco Ritz-Carlton Residences late Wednesday: “…we have received ongoing requests about the Private Residences in the project in spite of being sold out. As a result, the decision has been made to convert five residences on the 11th floor from Club designated use to Private whole ownership.”
As Malcolm Kaufman notes in his latest Pulse: “This demonstrates one of the inherent risks in buying pre-construction. You do not always get what you signed up for.” A year ago buyers placed deposits on one of “only Ritz52 Private Residences.” Today, it’s one of only 57. No word on tomorrow.