Bank-Owned Ritz-Carlton® Condominium in San Francisco, California to Be Sold at Auction By Concierge Auctions

SAN FRANCISCO, Nov. 10, 2010 /PRNewswire/ -- A bank-owned condominium, located within the luxurious Ritz-Carlton® Residences on historic Market Street in the heart of downtown San Francisco, will be sold during a live auction on December 10, Concierge Auctions has announced. Originally listed for $1,274,490, there is no minimum bid required to participate. The sale is being conducted in cooperation with listing broker Jeffry Peargin of Pacific Union International, an affiliate of Christie's Great Estates.

"I'm excited to be working alongside Concierge Auctions," stated Peargin. "Given that this is a bank-owned condominium, the commitment to sell is evident. With the highest-caliber amenities of the Ritz-Carlton® and immediate access to world-class museums, upscale shopping, and gourmet restaurants, we're confident we will find the ideal owner for this gorgeous residence."

Unit 1502 within the Ritz-Carlton® Residences is a 1,195-square-foot, classic luxury condominium boasting two opposing master suites with unparalleled views of downtown San Francisco. The property contains two and a half bathrooms with modern luxury finishes throughout, including wall-to-wall carpet in the bedrooms, polished hardwood flooring in the living areas, Italian-marble flooring and hand-hewn tiles in the kitchen and baths, and double-paned windows for sound minimization. An open gourmet chef's kitchen includes top-of-the-line amenities – Kohler fixtures, granite countertops, a Viking refrigerator and Miele dishwasher. Each bathroom also has Kohler fixtures, and the convenient laundry closet is outfitted with a GE washer and dryer.

Constructed more than a century ago by Chicago architects Daniel Burnham and John Root as the original Chronicle Building, the West Coast's first skyscraper, this historic structure eventually transformed into The Ritz-Carlton® Club and Residences, San Francisco. Owners of the 101 individual residences enjoy access to unrivaled services and amenities, including private lounge access, wine storage, valet parking, a fitness center and full service doorman. The Ritz-Carlton® Residences are perfectly situated in the heart of San Francisco among some of the most prestigious addresses in the world, steps from significant locations including the San Francisco Museum of Modern Art (MOMA), the Jewish Museum, the Yerba Buena Center for the Arts and the Giants ballpark. The Ritz-Carlton® Club is mere blocks from the Powell Street cable car turn-around and is only 20 minutes from the San Francisco International Airport; 30 minutes from the Oakland International Airport; 25 minutes from Sausalito and Berkeley; and one hour from Napa and Sonoma.

"At Concierge Auctions we are specific about the properties we represent," stated George Graham, CEO of Concierge Auctions. "Our success is predicated upon partnering with the most premier luxury product, and it doesn't get any more exclusive than the Ritz-Carlton® Residences. The new owner will name their price amongst other bidders during a live auction in an open, transparent forum, and in less than thirty days will be enjoying the utmost in luxury and amenities on one of our nation's most sought-after cities."

The live auction of Unit 1502 within the Ritz-Carlton® Residences, San Francisco will be held on December 10. No minimum bid is required to participate. A 2.5-percent commission is offered to the buyer's broker. See Auction Terms and Conditions for full details. The property is open for preview daily by appointment from 1 to 4pm. To schedule a preview, call 877-214-3785. For more information, visit www.SanFranRitzAuction.com.

About Concierge Auctions: Concierge Auctions is the preeminent luxury real estate auction firm serving high-end sellers nationwide through an accelerated marketing process that obtains fair market value for high-end properties in a 60-day timeframe. As a preferred auction partner to Sotheby's International Realty® and other luxury brokerage firms nationwide, the company has executed auctions from New York to Hawaii and hosts a database that includes more than 100,000 luxury real estate buyers and agents from all 50 states and 38 countries and territories.  The principals of Concierge Auctions have been involved in the transfer of more than $2 billion in luxury real estate sales over the past 10 years.  For more information, call 888-966-4759 or visit www.ConciergeAuctions.com.

SOURCE Concierge Auctions