TTR Sotheby's International Realty Has Achieved The Distinction of Selling The Most Expensive Condominium in Washington, D.C.

WASHINGTON, March 10, 2022 /PRNewswire-PRWeb/ -- TTR Sotheby's International Realty is pleased to announce the sale of Penthouse 2C at The Residences at The Ritz-Carlton, Georgetown in Washington, D.C.

As reported by Mansion Global, the sale represents the most expensive condominium ever sold in Washington, D.C. history, achieving a final sale price of $11,000,000 and breaking the previous record of $9,500,000 set in December 2021 by TTR Sotheby's International Realty.

Matt McCormick, Mark C. Lowham, and Ritzert Weiss Partners of TTR Sotheby's International Realty had the listing, while Michael Rankin of TTR Sotheby's International Realty brought the buyer.

The former residence of noted philanthropist and business magnate Michelle Smith, Penthouse 2C at The Residences at The Ritz-Carlton, Georgetown represents one of the finest condominium residences in the Washington Metropolitan Area.

One of four penthouse residences at The Residences at The Ritz-Carlton, Georgetown, Penthouse 2C features exquisite views of the Potomac River and bespoke interiors, including carved French Limestone molding, rosewood doors, and a curved limestone staircase with a sterling silver balustrade. Smith's collection of fine art and furnishings, which included works by Claude Lalanne and Alexander Calder, were sold at auction by Sotheby's last year.

"My client was drawn to the residence given the extraordinary quality and detail of finish work," said Michael Rankin, Managing Partner at TTR Sotheby's International Realty.

Following its most successful year to date, with over $5 Billion in closed sales for the year ending 2021, TTR Sotheby's International Realty has its sights set on Washington, D.C. as a key lever of growth in an environment of historically low housing inventory.

Further, the sale represents a resurgence of interest in the high-end luxury condominium market, which faced tailwinds in the wake of the Covid-19 pandemic as buyers flocked to single family homes outside of more dense urban markets.

"We are witnessing tremendous activity across all price points, including the upper end of the market," says Mark C. Lowham, CEO and Managing Partner at TTR Sotheby's International Realty.

"This sale reminds us that the Washington, D.C. area market remains an excellent value compared to other global capitals. We are confident that the market will continue to see significant appreciation as more global investors reemerge following the pandemic."

About TTR Sotheby's International Realty

TTR Sotheby's International Realty is regarded as one of the highest-performing real estate firms in the United States. With 10 offices and over 500 real estate associates, our commitment to professional service, flawless integrity, and community leadership allowed us to capture more than $5 Billion in closed sales in 2021 while also serving as one of the Washington Metropolitan Area's foremost leaders in corporate philanthropy. To learn more, visit us at ttrsir.com.

Media Contact

Byron Hughey, TTR Sotheby's International Realty, +1 (703) 447-1992, [email protected]

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SOURCE TTR Sotheby's International Realty