Cost Overrun

When I first inquired about the Royal SF last summer the former office building now converted into condos was due to be completed by November 2005. I called again in January and learned the completion date had been moved to March. To date it's still not finished and Bryan, one of their agents, stated the new completion date is in April. Four month behind schedule is not too bad for a project this size, but I wonder what the numbers will look like. According to the sales agent, it's around 70% sold.

Two new buildings in South Beach/SOMA are getting some attention. The SF Watermark is the latest addition to the South Beach skyline and, according to one realtor, is about 50% sold. The other is the St Regis and rumor has it the Gores have bought a posh new space there. Prices for these new luxury penthouses are as sky high as the development itself.