$14.5 Million Georgetown Condo Finds a Buyer, Looks to Set Record

• February 1st 2022

by UrbanTurf Staff

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The most expensive condo ever listed in Washington, DC has found a buyer and is looking to set a new record. 

A penthouse at the Ritz-Carlton in Georgetown listed for $14.5 million went under contract with contingencies earlier this week. Originally listed a year ago for $18 million, the residence would break the previous price record for a condo sale in the city by $5 million if it closes. The penthouse is listed with Mark Lowham and Matt McCormick of TTR Sotheby's International Realty. 

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 last three months have been very good for the very top of the DC condo market. In November, a three-bedroom penthouse at the Ritz-Carlton in the West End sold for $9.15 million, at that time the highest price for a condo sold in DC. Then, earlier this month, a unit at the Ritz-Carlton Residences Georgetown sold for $9.5 million, setting yet another new record. 

Photos courtesy of Gordon Beall.

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This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/at-145-million-dcs-most-expensive-condo-finds-a-buyer/19218.