Seven months ago, the Four Seasons in San Francisco sent out a news release announcing the glad tidings that would come soon: New residences for the new money.

Builders were hoisting glass and steel into a 43-storey tower where residents would have their own on-staff wine concierge, plus Blue de Savoie French marble, German milled Poggenpohl cabinetry and Dornbracht fixtures. The building's $US49 million ($71 million) penthouse would be the most expensive in San Francisco.