The 1st half real estate cycle is over and top floor penthouses have buyers paying well over the millions for them!
Study by PESQUEIRA shows from January 2017 – June 2017 the valley of the sun recorded 45 condo Penthouse with a sales price of $1,000,000+. The most expensive penthouse sold was located at Two Biltmore Estates selling for $3.1 Million. It does not end there for Two Biltmore Estate, in fact the top 5 most expensive penthouses sold, ranging from $2.1 Million up to $3.1 million were also located in Two Biltmore Estates development.
Right dab in the middle, sandwiched between Two Biltmore Estate and Enclave at Borgata sits an 11th floor contemporary penthouse at ESPLANADE PLACE. The 3 bedrooms, 3 bathrooms, 3350 SQ. Ft sold for $2.05 million. Amenities include concierge services, fitness center, roof top pool and spa, 24-hour security, valet service, conference rooms, and business center.
Rounding out the top 10, holding the 7-10 spot are the penthouse units at The Enclave at Borgata. This is Scottsdale’s newest luxury condominium community at the intersection of Scottsdale and Paradise Valley with two grocery stores, numerous restaurants and many other amenities and shops within walking distance. The steel frame & concrete construction offers the utmost quality and elegance. Luxury amenities include a gated entrance, resident services coordinators, club room and gardens, heated pool and spa, dog park, fully-equipped fitness studio and a walking path. All condo penthouse units feature 3 bedrooms, 3.5 bathrooms, 3016 SQ FT, and prices recorded range from $1.877 – $1.83 million.
You don’t really think of Penthouses when you think of the Valley of the Sun but this craze is back! It’s a lifestyle choice for these buyers who want views, location, amenities, services, and lock & leave. And record shows they will fetch millions for it!
Buying or selling a penthouse, let us know