Jerry Kronenberg reports in today's Boston Herald (HSBC Mortgage forecloses on Ritz condo unit):

HSBC Mortgage is foreclosin’ on the Ritz - or at least on one of the upscale Boston condo complex’s units.

Interviews and public records indicate the company is foreclosing on a one-bedroom, eighth-floor unit in the Ritz-Carlton Residences, one of Boston’s fanciest addresses.

P.T. Vineburgh (my partner at Charlesgate Realty Group) and I have been hired to sell the unit for the bank.

Real estate broker P.T. Vineburgh, who’s been hired to resell the foreclosed condo, said he’s never heard of a Ritz unit going into foreclosure before.

“I think it’s indicative of a macro problem that’s going on in the economy,” Vineburgh said of the foreclosure, first reported by industry publication Banker & Tradesman. “All people have been affected by the mortgage crisis and the weak housing market and economy.”

There haven't been many foreclosures in the core Boston neighborhoods (Back Bay, South End, Beacon Hill, etc) so far and I wouldn't expect too many in the future even with the financial crisis and state of the economy right now; but there may be a few opportunities like this unit in the Ritz for opportunistic buyers to snag.  The unit should be on the market in the near future....so stay tuned for more info.  Feel free to email me for more details in the meantime.