DC's Priciest Condo Sale on Record Closes For $11 Million

• March 2nd 2022

by UrbanTurf Staff

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The most expensive condo ever listed in Washington, DC has sold, but it didn't quite fetch as high a price as advertised. 

Penthouse 2C at the Ritz-Carlton in Georgetown sold earlier this week for $11 million. The unit went under contract at a $14.5 million list price in January. Despite the discounted sale price, the unit broke the previous price record for a condo in DC by $1.5 million. The penthouse was listed with Mark Lowham and Matt McCormick of TTR Sotheby's International Realty; Michael Rankin of Sotheby's represented the buyer. 

One of five penthouses at the Ritz-Carlton, the 5,500 square-foot home is the combination of two units purchased in 2006 by philanthropist Michelle Smith. Smith, who died in 2020, was the daughter of Robert H. Smith, who developed much of Crystal City. 

In addition to 5,500 square feet of interior space, the condo has an 1,800 square-foot terrace with views of the Potomac River. Smith invested approximately $20 million into the purchase, renovation and build out of the residence. 

The previous record for a condo sale in DC was set just at the end of 2021 when another unit at the Ritz-Carlton Residences Georgetown sold for $9.5 million. 

Photos courtesy of Gordon Beall.

This article originally published at https://dc.urbanturf.com/articles/blog/dcs-priciest-condo-sale-on-record-closes-for-11-million/19335.